148 Lafayette Cir · Ocean Springs, MS 39564

$223,000

3 bd · 2.0 ba · 1,092 sqft · SingleFamily public records · 85 Days on market

Built 1961 0.29 ac lot $204/sqft · 9% above area Est $204k · 9% over ↓ 10% since listing

---

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 +15.2/30.0
• Schools +5.3/10.0
• DSCR +4.7/10.0
• Livability +4.3/5.0
• 1% rule +3.5/10.0
• ARV discount +3.2/15.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly updated this 3-bedroom, 1-bath home at 148 Lafayette Circle is perfectly situated in Ocean Springs' highly desirable golf cart district. Located just minutes from downtown Ocean Springs, you'll enjoy easy access to local restaurants, shops, festivals, and the beautiful Gulf Islands National Seashore, while still being tucked away in a quiet neighborhood within walking distance to Pecan Park Elementary. Inside, the home features new cabinets, granite countertops, luxury vinyl plank flooring, updated light fixtures, and new windows, creating a bright, modern feel throughout. A new roof installed in January 2025 adds additional value and peace of mind. The seller also recently added a new back door from the kitchen for convenient access to the backyard. The kitchen has been updated with the addition of a dishwasher. Whether you're searching for a primary residence, weekend retreat, or investment property, this move-in ready home offers the perfect combination of location, updates, and the relaxed coastal lifestyle Ocean Springs is known for.

Key facts

• New cabinets
• Granite countertops
• New roof

Tags

• NEW CABINETS
• GRANITE COUNTERTOPS
• LUXURY VINYL PLANK FLOORING
• UPDATED LIGHT FIXTURES
• NEW WINDOWS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $223k.

Deal economics

• At list price, monthly cash flow is $79 ($945/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 $189k (15.1% below list).
• Recommended offer: $189k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.2% in Ocean Springs — 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 86/100 on livability (#2 in MS, #420 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute F.
• Ocean Springs School District (suburban): math 64% / reading 59% proficiency, ranked #1 of 130 in MS (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).

Forward outlook

• 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.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,324 (15.1% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (median comp): $203,683
• List price: $223,000
• Delta: 9.48%
• 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
201 Walnut Dr	0.54mi	3/1.5	1,130 (+4%)	0mo	$279,000	$247	67
232 Woodland Cir	0.59mi	3/1.5	1,120 (+3%)	0mo	$170,000	$152	66
2501 Bienville Blvd #416	0.63mi	2/2.0 (-1)	1,095 (+0%)	1mo	$285,000	$260	64
121 Beverly Dr	0.64mi	3/1.5	1,064 (-3%)	7mo	$175,500	$165	58
201 Hunter Dr	0.37mi	3/2.0	1,000 (-8%)	14mo	$189,000	$189	57
315 Poplar Dr	0.45mi	3/1.0	962 (-12%)	0mo	$220,000	$229	55
115 Hickory Dr	0.62mi	3/1.0	1,101 (+1%)	14mo	$254,150	$231	55
309 Teringo Cir	0.67mi	3/1.0	1,020 (-7%)	0mo	$219,900	$216	53
2501 Havard Rd	0.33mi	3/1.0	1,211 (+11%)	14mo	$189,000	$156	51
1214 Lancelot Ln	0.62mi	3/2.0	1,239 (+14%)	5mo	$249,999	$202	45
211 Barbara Cir	0.63mi	3/1.0	936 (-14%)	4mo	$162,000	$173	39
220 Barbara Cir	0.64mi	3/1.0	975 (-11%)	11mo	$161,500	$166	39

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.45×
• Total profit: $-34,335
• Equity at exit: $33,250

10-year hold

• IRR: -10.2%
• Equity multiple: 0.42×
• Total profit: $-36,193
• Equity at exit: $19,281

Cash invested: $62,440 (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 39564

• Home prices YoY: -26.8%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$1,169
• Tax from tax record: −$155 /mo · $1,855/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $79

Break-even live

Break-even rent $1,794

Max offer price $223,000

Occupancy floor 91%

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: $55,750
• Closing costs: $6,690
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
422 Whispering Pine Dr Ocean Springs, MS	3.0	2.0	1075	$1,795	$1.67	14d	1	0.38mi
230 Saratoga Dr Ocean Springs, MS	3.0	2.0	1450	$1,800	$1.24	44d	1	0.39mi
230 Saratoga Dr Ocean Springs, MS	3.0	2.0	1380	$1,850	$1.34	14d	1	0.39mi
212 Maple Dr Ocean Springs, MS	3.0	1.5	1092	$1,475	$1.35	14d	1	0.41mi
237 Saratoga Dr Ocean Springs, MS	3.0	2.0	1295	$2,150	$1.66	14d	1	0.43mi
246 Woodland Cir Ocean Springs, MS	3.0	1.0	984	$1,475	$1.50	44d	1	0.59mi
2501 Bienville Blvd Ocean Springs, MS	2.0	2.0	1156	$2,000	$1.73	44d	1	0.62mi
2501 Bienville Blvd Unit 432 Ocean Springs, MS	2.0	2.0	1095	$2,300	$2.10	44d	1	0.64mi
600 Bechtel Blvd Ocean Springs, MS	2.0	2.0	944	$1,500	$1.59	14d	1	0.69mi
107 Elliott Pl Ocean Springs, MS	3.0	1.0	1148	$1,695	$1.48	21d	1	0.86mi
623 Camellia Pointe Blvd Ocean Springs, MS	2.0	2.0	1333	$2,200	$1.65	44d	1	0.91mi
111 Armand Oaks Ocean Springs, MS	3.0	2.5	1500	$1,800	$1.20	44d	1	0.92mi
2 Fleetwood Pl Ocean Springs, MS	2.0	1.0	912	$2,000	$2.19	44d	1	1.14mi
3500 Groveland Rd Ocean Springs, MS	2.0–3.0	2.0	1173	$1,750	$1.49	14d	1	1.17mi

Listing history 29 events

1. 2026-06-18
   days on market $223,000 Active 85 DOM
2. 2026-06-17
   days on market $223,000 Active 84 DOM
3. 2026-06-16
   days on market $223,000 Active 83 DOM
4. 2026-06-15
   days on market $223,000 Active 82 DOM
5. 2026-06-14
   days on market $223,000 Active 80 DOM
6. 2026-06-13
   days on market $223,000 Active 79 DOM
7. 2026-06-10
   days on market $223,000 Active 77 DOM
8. 2026-06-09
   days on market $223,000 Active 76 DOM
9. 2026-06-08
   days on market $223,000 Active 75 DOM
10. 2026-06-07
    days on market $223,000 Active 74 DOM
11. 2026-06-02
    pricedays on market $223,000 Active 69 DOM
12. 2026-06-01
    days on market $225,000 Active 68 DOM
13. 2026-05-31
    days on market $225,000 Active 67 DOM
14. 2026-05-30
    days on market $225,000 Active 66 DOM
15. 2026-05-18
    price $225,000 1068-char remark

    Show marketing remark (1068 chars)

    Freshly updated this 3-bedroom, 1-bath home at 148 Lafayette Circle is perfectly situated in Ocean Springs' highly desirable golf cart district. Located just minutes from downtown Ocean Springs, you'll enjoy easy access to local restaurants, shops, festivals, and the beautiful Gulf Islands National Seashore, while still being tucked away in a quiet neighborhood within walking distance to Pecan Park Elementary. Inside, the home features new cabinets, granite countertops, luxury vinyl plank flooring, updated light fixtures, and new windows, creating a bright, modern feel throughout. A new roof installed in January 2025 adds additional value and peace of mind. The seller also recently added a new back door from the kitchen for convenient access to the backyard. The kitchen has been updated with the addition of a dishwasher. Whether you're searching for a primary residence, weekend retreat, or investment property, this move-in ready home offers the perfect combination of location, updates, and the relaxed coastal lifestyle Ocean Springs is known for.

16. 2026-05-01
    price $227,900 1068-char remark

    Show marketing remark (1068 chars)

    Freshly updated this 3-bedroom, 1-bath home at 148 Lafayette Circle is perfectly situated in Ocean Springs' highly desirable golf cart district. Located just minutes from downtown Ocean Springs, you'll enjoy easy access to local restaurants, shops, festivals, and the beautiful Gulf Islands National Seashore, while still being tucked away in a quiet neighborhood within walking distance to Pecan Park Elementary. Inside, the home features new cabinets, granite countertops, luxury vinyl plank flooring, updated light fixtures, and new windows, creating a bright, modern feel throughout. A new roof installed in January 2025 adds additional value and peace of mind. The seller also recently added a new back door from the kitchen for convenient access to the backyard. The kitchen has been updated with the addition of a dishwasher. Whether you're searching for a primary residence, weekend retreat, or investment property, this move-in ready home offers the perfect combination of location, updates, and the relaxed coastal lifestyle Ocean Springs is known for.

17. 2026-03-31
    price $229,900 1068-char remark

    Show marketing remark (1068 chars)

    Freshly updated this 3-bedroom, 1-bath home at 148 Lafayette Circle is perfectly situated in Ocean Springs' highly desirable golf cart district. Located just minutes from downtown Ocean Springs, you'll enjoy easy access to local restaurants, shops, festivals, and the beautiful Gulf Islands National Seashore, while still being tucked away in a quiet neighborhood within walking distance to Pecan Park Elementary. Inside, the home features new cabinets, granite countertops, luxury vinyl plank flooring, updated light fixtures, and new windows, creating a bright, modern feel throughout. A new roof installed in January 2025 adds additional value and peace of mind. The seller also recently added a new back door from the kitchen for convenient access to the backyard. The kitchen has been updated with the addition of a dishwasher. Whether you're searching for a primary residence, weekend retreat, or investment property, this move-in ready home offers the perfect combination of location, updates, and the relaxed coastal lifestyle Ocean Springs is known for.

18. 2026-03-24
    listed $232,500 Active 1068-char remark

    Show marketing remark (1068 chars)

    Freshly updated this 3-bedroom, 1-bath home at 148 Lafayette Circle is perfectly situated in Ocean Springs' highly desirable golf cart district. Located just minutes from downtown Ocean Springs, you'll enjoy easy access to local restaurants, shops, festivals, and the beautiful Gulf Islands National Seashore, while still being tucked away in a quiet neighborhood within walking distance to Pecan Park Elementary. Inside, the home features new cabinets, granite countertops, luxury vinyl plank flooring, updated light fixtures, and new windows, creating a bright, modern feel throughout. A new roof installed in January 2025 adds additional value and peace of mind. The seller also recently added a new back door from the kitchen for convenient access to the backyard. The kitchen has been updated with the addition of a dishwasher. Whether you're searching for a primary residence, weekend retreat, or investment property, this move-in ready home offers the perfect combination of location, updates, and the relaxed coastal lifestyle Ocean Springs is known for.

19. 2026-03-19
    historical
20. 2026-01-26
    price $231,750
21. 2025-11-28
    price $232,000
22. 2025-10-28
    price $236,000
23. 2025-08-27
    listed $237,500 Active
24. 2025-06-30
    soldstatus
25. 2025-06-30
    soldstatus
26. 2025-06-09
    soldstatus Closed
27. 2025-05-08
    status Pending
28. 2025-04-09
    price $239,000
29. 2025-03-20
    listed $249,000 Active

ⓘ 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: $1,855 · $155/mo
• Projected year-2 tax: $1,855 · $155/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,719
• − Mortgage interest: −$12,491
• − Property taxes: −$1,855
• − Insurance: −$1,115
• − Repairs & maintenance: −$1,818
• − Management: −$1,818
• − Depreciation: −$6,487
• Taxable loss: −$2,865
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $1,632/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: Ocean Springs School District
• NCES district ID: 2803360
• Math proficiency: 64% ▼ -3.00%
• Reading proficiency: 59% ▲ 1.00%
• Median HH income: $60,485
• Composite: 53.35/100
• National rank: #1477
• State rank: #1 of 130 in MS

Livability — Ocean Springs

• Score: 86/100
• State rank: #2
• US rank: #420

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Springs, MS
• County: Jackson County · 82,196 people
• City population: 43,240
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 43,240
• Household income: $78,596
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 734.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 146,926 people
• By 2030: 148,442 · +1.0%
• By 2040: 149,631 · +1.8%
• By 2050: 148,723 · +1.2%
• By 2075: 147,845 · +0.6%
• By 2100: 144,510 · -1.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 5% Slovak 4% Romanian 2%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 93% English-only · Spanish 3% Vietnamese 2% Tagalog/Filipino 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+39.9) · D 29.5% · R 69.4% · Other 1.1%
• 2008→2024 swing: -6.4pp toward R · 2008: -33.5pp · 2024: -39.9pp
• All cycles: 2024: R+39.9 2020: R+34.6 2016: R+39.9 2012: R+36.1 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.77%
• Current HPI: 204.2244
• Rent YoY: ▲ 1.31%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-9.6% since first listed

15 events — show timeline

• 2026-05-18 Price Changed $225,000 MLSU
• 2026-05-01 Price Changed $227,900 MLSU
• 2026-03-31 Price Changed $229,900 MLSU
• 2026-03-24 Listed $232,500 MLSU
• 2026-03-19 Listing Removed — MLSU
• 2026-01-26 Price Changed $231,750 MLSU
• 2025-11-28 Price Changed $232,000 MLSU
• 2025-10-28 Price Changed $236,000 MLSU
• 2025-08-27 Listed $237,500 MLSU
• 2025-06-30 Sold (Public Records) — Public Records
• 2025-06-30 Sold (Public Records) — Public Records
• 2025-06-09 Sold (MLS) — MLSU
• 2025-05-08 Pending — MLSU
• 2025-04-09 Price Changed $239,000 MLSU
• 2025-03-20 Listed $249,000 MLSU

Property tax history

+3.0%/yr

Latest (2025): $1,855 · +4.8% YoY. Source: county tax records.