10 Independence Dr #10 · Gulfport, MS 39507

$189,000

3 bd · 1.5 ba · 1,470 sqft · Townhouse public records · 20 Days on market

Built 1975 3.54 ac lot Est $254k · 26% under

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Why this score? — see what drove the C 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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell at $109,000. Well-maintained and updated 3 bedroom, 2.5 bath condo located in the desirable Heritage Place Community. This spacious two-story unit offers approximately 1,600+ square feet, updated finishes. Enjoy a screened in patio, two covered carport spaces, and access to community amenities including a pool and clubhouse. Previous water damage from A/C overflow has been addressed- just need some cosmetic repairs. HOA dues are $500/month and include insurance and exterior maintenance. Property is being sold as-is, and seller will make no repairs.

Key facts

• Carpet flooring
• Slate flooring
• Recessed lighting

Tags

• RECESSED LIGHTING
• CROWN MOLDING
• LUXURY VINYL FLOORING
• CERAMIC TILE FLOORING
• SLATE FLOORING
• CARPET FLOORING

Property features AI

Finance

• HOA & community: Association with clubhouse, pool, sidewalks; Association fees include insurance, management, pool service

Exterior

• Parking: Attached carport (2 spaces); Paved parking
• Security: Security system (owned)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Townhouse; Lowrise (1–2 floors); Two levels; Move-in ready
• Construction: Architectural shingle roof; Block and slab foundation; Built in public records (year built source: public records)
• Exterior features: Patio; Screened porch; In-ground private pool; Sidewalks; Clubhouse (community)

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedrooms located on multiple levels
• Flooring: Luxury vinyl; Carpet; Ceramic tile; Slate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Crown molding; Recessed lighting; Walk-in closet(s); Aluminum frame windows
• Laundry & utility: Stacked washer/dryer; Laundry closet on lower level

🏷️ Possibly a rental listed for sale. The $189,000 price doesn't fit this home's estimated sale value (~$254,310) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $189k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/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 $183k (3.2% below list).
• Recommended offer: $183k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.9% in Gulfport — 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 73/100 on livability (#15 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Gulfport School District (urban): math 41% / reading 42% proficiency, ranked #37 of 130 in MS (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gulfport High School (math 42% / reading 36%, grade F, #54 of 197 statewide, top 28%, 1,728 students, 100% FRL) — zoned schools average 100% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 301 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• This rent runs 40% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $145k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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.

Recommended offer $182,935 (3.2% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.97% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.93%
• DSCR: 1.17
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $254,310
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Independence Dr	0.01mi	2/1.5 (-1)	1,376 (-6%)	2mo	$176,500	$128	82
9 Independence Dr	0.02mi	2/2.5 (-1)	1,518 (+3%)	11mo	$179,900	$119	76
14 Independence Dr #14	0.01mi	2/1.5 (-1)	1,311 (-11%)	1mo	$165,000	$126	76
26 Independence Dr	0.00mi	2/2.5 (-1)	1,555 (+6%)	10mo	$182,500	$117	73
8 Independence Dr #8	0.03mi	3/2.5	1,550 (+5%)	17mo	$148,000	$95	71
1200 Beach Dr #806	0.68mi	3/2.0	1,477 (+0%)	3mo	$350,000	$237	63
1200 Beach Dr #805	0.68mi	3/2.0	1,477 (+0%)	16mo	$409,900	$278	52
1121 Century Oaks Dr Unit C	0.54mi	3/3.0	1,314 (-11%)	1mo	$189,000	$144	50
1130 Century Oaks Dr Unit B	0.56mi	3/3.0	1,354 (-8%)	10mo	$242,000	$179	47
1225 Century Oaks Dr Unit C	0.50mi	3/3.0	1,327 (-10%)	15mo	$229,900	$173	42
1200 Beach Dr #503	0.68mi	2/2.0 (-1)	1,277 (-13%)	2mo	$299,000	$234	38
1200 Beach Dr #202	0.68mi	2/2.0 (-1)	1,277 (-13%)	8mo	$259,000	$203	32

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 · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.67×
• Total profit: $-17,233
• Equity at exit: $28,181

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $9,121
• Equity at exit: $16,341

Cash invested: $52,920 (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 39507

• Home prices YoY: -27.1%
• Rents YoY: 4.3%
• Active inventory: 301
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,829 high
• Mortgage (P&I): −$991
• Tax from tax record: −$202 /mo · $2,424/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $173

Break-even live

Break-even rent $1,610

Max offer price $189,000

Occupancy floor 86%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
477 Tegarden Rd Unit D Gulfport, MS	3.0	2.0	1300	$1,300	$1.00	14d	1	0.23mi
696 Hunters Glen Ln Gulfport, MS	3.0	1.5	1000	$1,800	$1.80	21d	1	0.42mi
229 Milray Ln Gulfport, MS	2.0	2.5	889	$1,795	$2.02	21d	1	0.44mi
153 Markham Dr Gulfport, MS	3.0	2.0	1650	$3,000	$1.82	44d	1	0.47mi
986 Waterford Ln Gulfport, MS	3.0	1.5	1000	$1,650	$1.65	44d	1	0.47mi
1229 Century Oaks Dr Gulfport, MS	3.0	3.0	1200	$2,600	$2.17	21d	1	0.53mi
1131 Century Oaks Dr Gulfport, MS	3.0	3.0	1156	$1,800	$1.56	44d	1	0.55mi
1101 Century Oaks Dr Gulfport, MS	3.0	3.0	1330	$1,700	$1.28	44d	1	0.56mi
1270 Century Oaks Dr Gulfport, MS	3.0	3.0	1158	$1,950	$1.68	44d	1	0.57mi
1100 Century Oaks Dr Unit A Gulfport, MS	3.0	3.0	1156	$2,200	$1.90	44d	1	0.58mi
1276 Century Oaks Dr Gulfport, MS	3.0	3.0	1283	$2,100	$1.64	44d	1	0.60mi
1215 Ocean View Dr Gulfport, MS	3.0	2.0	1710	$2,895	$1.69	21d	1	0.63mi
3503 Hancock Ave Gulfport, MS	2.0	2.5	1100	$1,100	$1.00	21d	1	0.78mi
980 Courthouse Rd Unit 1605 Gulfport, MS	2.0	2.0	1227	$1,355	$1.10	21d	1	0.86mi
954 Old Towne St Gulfport, MS	3.0	2.0	1533	$1,900	$1.24	14d	1	0.91mi
200 Commerce St Gulfport, MS	2.0	1.0	900	$1,100	$1.22	21d	1	0.93mi
124 30th 1/2 St Gulfport, MS	2.0	1.5	1007	$1,100	$1.09	44d	1	0.97mi
1114 Washington Ave Gulfport, MS	3.0	2.0	1200	$1,350	$1.12	21d	1	1.03mi
3209 F Ave Gulfport, MS	2.0	1.0	1000	$850	$0.85	44d	1	1.04mi
1525 E Pass Rd Gulfport, MS	1.0–3.0	1.0–2.0	1070	$1,519	$1.42	21d	1	1.11mi
1400 Mill Rd Gulfport, MS	2.0	2.5	1290	$2,550	$1.98	44d	1	1.18mi
1100 Snapper CT Gulfport, MS	3.0	2.5	1553	$1,775	$1.14	21d	1	1.24mi

Listing history 16 events

1. 2026-06-18
   days on market $189,000 Active 20 DOM
2. 2026-06-17
   days on market $189,000 Active 19 DOM
3. 2026-06-16
   days on market $189,000 Active 18 DOM
4. 2026-06-15
   days on market $189,000 Active 17 DOM
5. 2026-06-14
   days on market $189,000 Active 15 DOM
6. 2026-06-13
   days on market $189,000 Active 14 DOM
7. 2026-06-10
   days on market $189,000 Active 12 DOM
8. 2026-06-09
   days on market $189,000 Active 11 DOM
9. 2026-06-08
   days on market $189,000 Active 10 DOM
10. 2026-06-07
    days on market $189,000 Active 9 DOM
11. 2026-06-05
    days on market $189,000 Active 6 DOM
12. 2026-06-02
    days on market $189,000 Active 4 DOM
13. 2026-06-01
    days on market $189,000 Active 3 DOM
14. 2026-05-31
    days on market $189,000 Active 2 DOM
15. 2026-05-30
    remarks 699-char remark
16. 2026-05-30
    listed $189,000 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: $2,424 · $202/mo
• Projected year-2 tax: $2,424 · $202/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 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,952
• − Mortgage interest: −$10,587
• − Property taxes: −$2,424
• − Insurance: −$945
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − Depreciation: −$5,498
• Taxable loss: −$1,014
• Est. tax savings @ 24.0%: +$243
• After-tax cash flow: $2,323/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: Gulfport School District
• NCES district ID: 2801710
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $35,712
• Composite: 34.38/100
• National rank: #5213
• State rank: #37 of 130 in MS

Livability — Gulfport

• Score: 73/100
• State rank: #15
• US rank: #5010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulfport, MS
• County: Harrison County · 178,171 people
• City population: 96,188
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 18,564
• Household income: $54,657
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 1059.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 24% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Slovak 4% Lithuanian 4% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 2% 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: ▼ -67.48%
• Current HPI: 181.6606
• Rent YoY: ▲ 4.26%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+30.3% since first listed

12 events — show timeline

• 2026-05-29 Listed $189,000 MLSU
• 2026-05-08 Sold (MLS) — MLSU
• 2026-04-29 Pending — MLSU
• 2026-04-24 Price Changed $109,000 MLSU
• 2026-04-18 Price Changed $123,000 MLSU
• 2026-04-07 Listed $129,900 MLSU
• 2023-10-15 Listing Removed — MLSU
• 2023-07-28 Listed $225,000 MLSU
• 2019-06-10 Listing Removed — MLSU
• 2019-02-10 Listed $160,000 MLSU
• 2017-12-15 Sold (Public Records) $145,000 Public Records
• 2012-11-21 Sold (Public Records) — Public Records

Property tax history

+23.4%/yr

Latest (2025): $2,424 · +5.4% YoY. Source: county tax records.