3230 Cumberland Rd #7 · Ocean Springs, MS 39564

$117,000

2 bd · 1.5 ba · 941 sqft · Condo · 110 Days on market

Built 1972 $570/mo HOA · 33% 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 +12.2/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.3/5.0
• DSCR +3.6/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a very livable 2 Bedroom and One and One-half Bath unit in a great location at Oak Glen Marina. Fully furnished. The development includes a marina, tennis courts, volley ball court, picnic area, boat launch, pool, putting green and club house. The club house includes workout facility, full kitchen and bar area, pool table, den for watching your favorite games with friends, conference room and screened porch for grilling. The complex is a quiet and pleasant place to live. Come look over this unique unit soon. HOA dues include insurance (flood and wind & hail), water, sewer, trash, clubhouse facilities, HOA staff, grounds keeping, and building maintenance.

Key facts

• Fitness center
• Clubhouse
• Private balcony

Tags

• PRIVATE BALCONY
• IN GROUND POOL
• TENNIS COURTS
• CLUBHOUSE
• FITNESS CENTER
• BOAT LAUNCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $117k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (11.0% below list).
• Meets the 1% rule at list price ($2k rent vs $117k).
• Recommended offer: $104k (11.0% below list) — sets the bar for cash-flow.
• Cap rate 6.1% 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.
• Zoned schools: Oak Park Elementary School (math 67% / reading 57%, grade B, #18 of 375 statewide, top 5%, 498 students, 99% FRL); Ocean Springs Middle School (math 66% / reading 61%, grade B+, #3 of 179 statewide, top 2%, 967 students, 100% FRL); Ocean Springs High School (math 77% / reading 64%, grade B+, #1 of 197 statewide, top 0%, 1,899 students, 100% FRL) — zoned schools average 100% FRL vs 33% district-wide (67 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 723 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $809 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 33% of rent.
• Climate carrying-cost: severe 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 $104,132 (11.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.17×
• Total profit: $-27,077
• Equity at exit: $17,445

10-year hold

• IRR: -32.4%
• Equity multiple: -0.24×
• Total profit: $-40,563
• Equity at exit: $10,116

Cash invested: $32,760 (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: 723
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,717 high
• Mortgage (P&I): −$614
• Tax est. 1.5%: −$146 /mo · $1,755/yr
• Insurance: −$49
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$570
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-89

Break-even live

Break-even rent $1,829

Max offer price $104,132

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-49	+0% $-89	+5% $-129	+10% $-170
Rent	-10% $-225	-5% $-157	+0% $-89	+5% $-21	+10% $47
Rate	-1.0pp $-30	-0.5pp $-59	base $-89	+0.5pp $-119	+1.0pp $-150

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 Bienville Blvd Unit 432 Ocean Springs, MS	2.0	2.0	1095	$2,300	$2.10	45d	1	0.74mi
2501 Bienville Blvd Ocean Springs, MS	1.0	1.0	855	$1,900	$2.22	15d	1	0.83mi
3500 Groveland Rd Ocean Springs, MS	2.0–3.0	2.0	1173	$1,350	$1.15	15d	1	0.98mi
212 Maple Dr Ocean Springs, MS	3.0	1.5	1092	$1,475	$1.35	15d	1	0.99mi
600 Bechtel Blvd Ocean Springs, MS	2.0	2.0	944	$1,500	$1.59	15d	1	1.24mi
422 Whispering Pine Dr Ocean Springs, MS	3.0	2.0	1075	$1,795	$1.67	15d	1	1.26mi
246 Woodland Cir Ocean Springs, MS	3.0	1.0	984	$1,475	$1.50	45d	1	1.32mi

HOA detail condo

• Monthly dues: $570 · $6,840/yr
• Likely covers: watersewertrashlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-03-25
   status Pending
2. 2026-02-20
   price $117,000
3. 2025-12-03
   listed $120,000 Active
4. 2022-01-14
   soldstatus Closed 675-char remark

   Show marketing remark (675 chars)

   This is a very livable 2 Bedroom and One and One-half Bath unit in a great location at Oak Glen Marina. Fully furnished. The development includes a marina, tennis courts, volley ball court, picnic area, boat launch, pool, putting green and club house. The club house includes workout facility, full kitchen and bar area, pool table, den for watching your favorite games with friends, conference room and screened porch for grilling. The complex is a quiet and pleasant place to live. Come look over this unique unit soon. HOA dues include insurance (flood and wind & hail), water, sewer, trash, clubhouse facilities, HOA staff, grounds keeping, and building maintenance.

5. 2021-10-25
   status Pending 675-char remark

   Show marketing remark (675 chars)

   This is a very livable 2 Bedroom and One and One-half Bath unit in a great location at Oak Glen Marina. Fully furnished. The development includes a marina, tennis courts, volley ball court, picnic area, boat launch, pool, putting green and club house. The club house includes workout facility, full kitchen and bar area, pool table, den for watching your favorite games with friends, conference room and screened porch for grilling. The complex is a quiet and pleasant place to live. Come look over this unique unit soon. HOA dues include insurance (flood and wind & hail), water, sewer, trash, clubhouse facilities, HOA staff, grounds keeping, and building maintenance.

6. 2021-10-20
   listed $115,000 Active 675-char remark

   Show marketing remark (675 chars)

   This is a very livable 2 Bedroom and One and One-half Bath unit in a great location at Oak Glen Marina. Fully furnished. The development includes a marina, tennis courts, volley ball court, picnic area, boat launch, pool, putting green and club house. The club house includes workout facility, full kitchen and bar area, pool table, den for watching your favorite games with friends, conference room and screened porch for grilling. The complex is a quiet and pleasant place to live. Come look over this unique unit soon. HOA dues include insurance (flood and wind & hail), water, sewer, trash, clubhouse facilities, HOA staff, grounds keeping, and building maintenance.

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $20,599
• − Mortgage interest: −$6,554
• − Property taxes: −$1,755
• − Insurance: −$1,382
• − Repairs & maintenance: −$1,648
• − Management: −$1,648
• − HOA: −$6,840
• − Depreciation: −$3,404
• Taxable loss: −$2,632
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $-435/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
• 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

+1.7% since first listed

6 events — show timeline

• 2026-03-25 Pending — MLSU
• 2026-02-20 Price Changed $117,000 MLSU
• 2025-12-03 Listed $120,000 MLSU
• 2022-01-14 Sold (MLS) — MLSU
• 2021-10-25 Pending — MLSU
• 2021-10-20 Listed $115,000 MLSU