8824 Kipapa Way · Diamondhead, MS 39525

$264,900

3 bd · 2.5 ba · 1,913 sqft · SingleFamily public records · 162 Days on market

Built 1994 0.25 ac lot $138/sqft · at area comps Est $256k · at est. $81/mo HOA · 4% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.5/30.0
• ARV discount +5.9/15.0
• DSCR +4.8/10.0
• Schools +3.9/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 8824 Kipapa Way, a cheerful and comfortable home in the heart of Diamondhead. Inside you'll find an inviting layout that works beautifully for both everyday living and entertaining, with cozy gathering spaces and peaceful bedrooms for relaxing at the end of the day. Step outside to enjoy your own outdoor space, then take advantage of Diamondhead's amenities - golf, community pools, tennis and pickleball, walking paths, and a nearby marina. Buy a lifestyle, not just a home, with this welcoming Kipapa Way retreat.

Key facts

• Outdoor space
• Walking paths
• Nearby marina

Tags

• OUTDOOR SPACE
• COMMUNITY POOLS
• WALKING PATHS
• NEARBY MARINA

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/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 $223k (15.8% below list).
• Recommended offer: $223k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.9% in Diamondhead — 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.

Location & tenants

• Location reads 68/100 on livability (#59 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hancock County School District (rural): math 47% / reading 44% proficiency, ranked #23 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Hancock Elementary School (math 64% / reading 59%, grade B, #22 of 375 statewide, top 6%, 639 students, 100% FRL); Hancock Middle School (math 48% / reading 44%, grade D+, #39 of 179 statewide, top 22%, 958 students, 100% FRL); Hancock High School (math 42% / reading 43%, grade F, #42 of 197 statewide, top 21%, 1,187 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 250 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 248 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Hancock County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,052 (15.8% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (median comp): $256,001
• List price: $264,900
• Delta: 3.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
796 Hapuna Pl	0.40mi	3/2.0	1,907 (-0%)	4mo	$310,000	$163	76
882 Maili Pl	0.06mi	3/2.0	2,172 (+14%)	2mo	$285,000	$131	71
88154 Golf Club Dr	0.31mi	3/2.0	1,775 (-7%)	2mo	$279,000	$157	70
9834 Pokai Way	0.37mi	4/2.0 (+1)	1,848 (-3%)	0mo	$249,500	$135	70
9912 Honomu Pl	0.24mi	4/2.0 (+1)	2,050 (+7%)	1mo	$310,000	$151	69
8716 W Diamondhead Dr	0.52mi	3/2.0	1,869 (-2%)	5mo	$265,000	$142	66
89338 Diamondhead Dr	0.42mi	3/2.0	1,774 (-7%)	1mo	$329,000	$185	65
8834 Kipapa Way	0.08mi	4/2.0 (+1)	2,192 (+15%)	3mo	$260,000	$119	63
8814 Malino Pl	0.39mi	3/2.5	2,100 (+10%)	4mo	$265,000	$126	62
97169 Kapalama Dr	0.51mi	3/2.0	2,035 (+6%)	4mo	$210,000	$103	60
8921 Hanalei Cir	0.40mi	3/2.0	1,714 (-10%)	3mo	$237,500	$139	60
885 Manini Way	0.38mi	3/2.0	1,685 (-12%)	2mo	$299,000	$177	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-36,127
• Equity at exit: $39,497

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-22,912
• Equity at exit: $22,904

Cash invested: $74,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Mississippi: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; very landlord-favorable; no rent control.

Methodology + full state rankings →

ZIP-level market 39525

• Home prices YoY: -19.1%
• Active inventory: 250
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,231 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$110
• HOA: −$81
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $108

Break-even live

Break-even rent $2,094

Max offer price $264,900

Occupancy floor 90%

Sensitivity live

Price	-10% $258	-5% $183	+0% $108	+5% $33	+10% $-42
Rent	-10% $-68	-5% $20	+0% $108	+5% $196	+10% $284
Rate	-1.0pp $241	-0.5pp $175	base $108	+0.5pp $39	+1.0pp $-31

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
289 Highpoint Dr Diamondhead, MS	2.0	2.5	1340	$1,700	$1.27	15d	1	0.59mi
250 Highpoint Dr Unit 250 Diamondhead, MS	2.0	2.5	1367	$2,500	$1.83	23d	1	0.70mi
250 Highpoint Dr Diamondhead, MS	2.0	2.5	1367	$2,500	$1.83	45d	1	0.70mi
7516 Pinehurst Ct Diamondhead, MS	3.0	3.0	2418	$2,000	$0.83	15d	1	1.32mi

HOA detail

• Monthly dues: $81 · $972/yr
• Likely covers: pool

Listing history 2 events

1. 2025-12-18
   listed $264,900 Active 528-char remark

   Show marketing remark (528 chars)

   Welcome to 8824 Kipapa Way, a cheerful and comfortable home in the heart of Diamondhead. Inside you'll find an inviting layout that works beautifully for both everyday living and entertaining, with cozy gathering spaces and peaceful bedrooms for relaxing at the end of the day. Step outside to enjoy your own outdoor space, then take advantage of Diamondhead's amenities - golf, community pools, tennis and pickleball, walking paths, and a nearby marina. Buy a lifestyle, not just a home, with this welcoming Kipapa Way retreat.

2. 1995-07-05
   soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $884 · $74/mo
• Projected year-2 tax: $2,093 · $174/mo
• Expected delta: +$1,209/yr (+$101/mo · 136.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,766
• − Mortgage interest: −$14,839
• − Property taxes: −$884
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,141
• − Management: −$2,141
• − HOA: −$972
• − Depreciation: −$7,706
• Taxable loss: −$3,241
• Est. tax savings @ 24.0%: +$778
• After-tax cash flow: $2,073/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hancock County School District
• NCES district ID: 2801740
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $47,971
• Composite: 38.88/100
• National rank: #4099
• State rank: #23 of 130 in MS

Livability — Diamondhead

• Score: 68/100
• State rank: #59
• US rank: #9320

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Diamondhead, MS
• County: Hancock County · 9,338 people
• City population: 9,338
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 9,338
• Household income: $87,407
• Rent vs Own: 10.3% rent · 89.7% own

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 52,161 people
• By 2030: 54,753 · +5.0%
• By 2040: 59,242 · +13.6%
• By 2050: 62,417 · +19.7%
• By 2075: 68,168 · +30.7%
• By 2100: 69,212 · +32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 10% Slovak 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+58.7) · D 20.1% · R 78.8% · Other 1.1%
• 2008→2024 swing: -4.4pp toward R · 2008: -54.2pp · 2024: -58.7pp
• All cycles: 2024: R+58.7 2020: R+55.5 2016: R+59.4 2012: R+52.8 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.77%
• Current HPI: 193.4883
• Rent YoY: —
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2025-12-18 Listed $264,900 MLSU
• 1995-07-05 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2025): $884 · +0.0% YoY. Source: county tax records.