13098 Michael St · Biloxi, MS 39532

$125,000

3 bd · 1.0 ba · 1,480 sqft · SingleFamily public records · 6 Days on market

Built 1966 0.28 ac lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Close proximity to I-10, minutes to D'Iberville & Promenade shopping, restaurants & entertainment. Ocean Springs is a short ride to great restaurants, festivals & shopping. This house is needing a lot of repairs, but could be so charming. Old established neighborhood. If you are looking for an affordable home to fix & live in or if you are an investor looking for a rental, this could be your next project. Some of the flooring is original hardwood. Fenced yard & shed. ''Short Sale Bank Approval Needed''. Home is being sold in ''As Is'' condition. Seller & Bank will do no repairs.

Key facts

• Newer exterior vinyl
• Newer water heater
• Newer lighting

Tags

• NEWER EXTERIOR VINYL
• NEWER WATER HEATER
• NEWER KITCHEN APPLIANCE
• REMODELED BATHROOMS
• NEWER LIGHTING
• FRESH INTERIOR PAINT

Property features AI

Finance

• HOA & community: Near entertainment; Playground

Exterior

• Parking: Carport (1 covered space); Driveway; Direct access; 2 total parking spaces
• Security: See remarks (security features referenced)
• Utilities: Public water; Septic tank sewer; Electricity available; Natural gas available
• Home design: Single-family house; One level; Fixer condition; Owner-provided living area
• Construction: Vinyl exterior; Pillar/post/pier foundation; Built (year from public records)
• Exterior features: Chain link perimeter fencing; Three-tab shingle roof

Interior

• Kitchen: Free-standing gas range; Natural gas hook-up in kitchen
• Flooring: Luxury vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning; Attic fan
• Interior features: Dead bolt locks; Rain gutters
• Laundry & utility: Dedicated laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.9% 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.

Location & tenants

• 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-.
• Harrison County School District (rural): math 52% / reading 46% proficiency, ranked #14 of 130 in MS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 392 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Harrison County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y 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.
• Current owner paid $87k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $263,440
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8442 Louise St	0.11mi	4/2.0 (+1)	1,487 (+0%)	6mo	$215,000	$145	80
13100 Lorraine Rd	0.64mi	3/2.0	1,360 (-8%)	10mo	$250,000	$184	44
9150 Woolmarket Rd	0.59mi	3/2.0	1,683 (+14%)	6mo	$299,900	$178	40
9201 Woolmarket Rd	0.70mi	2/1.0 (-1)	1,620 (+10%)	10mo	$259,000	$160	38

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 · 2.98% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.37×
• Total profit: $12,878
• Equity at exit: $18,638

10-year hold

• IRR: 18.5%
• Equity multiple: 2.54×
• Total profit: $53,883
• Equity at exit: $10,808

Cash invested: $35,000 (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 39532

• Rents YoY: 3.0%
• Active inventory: 392
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $520

Break-even live

Break-even rent $1,117

Max offer price $125,000

Occupancy floor 66%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13349 Lorraine Rd Biloxi, MS	3.0	2.0	1600	$1,925	$1.20	14d	1	0.71mi

Listing history 6 events

1. 2026-06-18
   days on market $125,000 Active 6 DOM
2. 2026-06-17
   days on market $125,000 Active 5 DOM
3. 2026-06-16
   days on market $125,000 Active 4 DOM
4. 2026-06-15
   days on market $125,000 Active 3 DOM
5. 2026-06-13
   remarks 689-char remark
6. 2026-06-13
   listed $125,000 Active 1 DOM

ⓘ 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: $1,304 · $109/mo
• Projected year-2 tax: $1,304 · $109/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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: $21,310
• − Mortgage interest: −$7,002
• − Property taxes: −$1,304
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$3,636
• Taxable income: $4,535
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $5,154/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: Harrison County School District
• NCES district ID: 2801770
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $46,504
• Composite: 41.66/100
• National rank: #3419
• State rank: #14 of 130 in MS

Livability — Biloxi

• Score: 79/100
• State rank: #6
• US rank: #2141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Biloxi, MS
• County: Harrison County · 178,171 people
• City population: 63,281
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 36,662
• Household income: $68,710
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 954.0

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 228,444 people
• By 2030: 241,942 · +5.9%
• By 2040: 267,531 · +17.1%
• By 2050: 291,062 · +27.4%
• By 2075: 346,711 · +51.8%
• By 2100: 378,165 · +65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 15% Two or more races 9% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 5% Italian 2% Serbian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Harrison

• 2024 margin: Strong R (+28.9) · D 35.0% · R 63.9% · Other 1.1%
• 2008→2024 swing: -2.9pp toward R · 2008: -26.0pp · 2024: -28.9pp
• All cycles: 2024: R+28.9 2020: R+25.2 2016: R+30.7 2012: R+26.6 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.04%
• Current HPI: 154.9975
• Rent YoY: ▲ 2.98%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+39.0% since first listed

19 events — show timeline

• 2026-06-12 Listed $125,000 MLSU
• 2023-09-05 Sold (Public Records) — Public Records
• 2023-08-24 Sold (MLS) — MLSU
• 2023-07-14 Pending — MLSU
• 2023-07-08 Price Changed $40,000 MLSU
• 2023-06-18 Listed $65,000 MLSU
• 2023-06-14 Listing Removed — MLSU
• 2023-05-20 Price Changed $65,000 MLSU
• 2023-05-20 Relisted — MLSU
• 2023-04-01 Pending — MLSU
• 2023-03-28 Price Changed $75,000 MLSU
• 2023-03-28 Relisted — MLSU
• 2023-02-15 Pending — MLSU
• 2023-02-08 Listed $124,900 MLSU
• 2019-06-04 Sold (Public Records) $87,000 Public Records
• 2019-05-30 Sold (MLS) — MLSU
• 2018-11-14 Listed $89,900 MLSU
• 2013-11-26 Sold (Public Records) — Public Records
• 2011-09-26 Sold (Public Records) — Public Records

Property tax history

+22.7%/yr

Latest (2025): $1,304 · +2.7% YoY. Source: county tax records.