2070 Camp Wilkes Rd

Biloxi, MS 39532

$218,500D

3 bd · 1.0 ba · 1,397 sqft · Built 1980 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,703/mo
• Mortgage (P&I): −$1,146
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$358
• Net cashflow: $41/mo
• Annual: $494/yr
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• 1% rule: 0.78%
• Cash to close: $61,180

Investor read

• This is a 3-bed/1.0-bath single-family listed at $218k.
• At list price, monthly cash flow is $41 ($494/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (22.1% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $170k (22.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#6 in MS, #2,141 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute D+, amenities F, employment D-.
• Biloxi Public School District (urban): math 60% / reading 48% proficiency, ranked #7 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Bay Elementary School (math 67% / reading 67%, grade B+, #11 of 375 statewide, top 3%, 754 students, 100% FRL); Biloxi Junior High (math 60% / reading 43%, grade C, #27 of 179 statewide, top 16%, 881 students, 100% FRL); Biloxi High School (math 65% / reading 53%, grade C+, #7 of 197 statewide, top 3%, 1,728 students, 100% FRL) — zoned schools average 100% FRL vs 59% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 393 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 3.5% in Biloxi — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.