245 Mcdonnell Ave #105 · Biloxi, MS 39531

$93,000

1 bd · 1.0 ba · 608 sqft · Condo · 225 Days on market

Built 1970 Good condition $228/mo HOA · 20% of rent

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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 +15.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +4.8/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 1 BR Condo - steps to the white sand Biloxi Beach & Casino! Main level, elegant furnishing, gated community. Perfect for vacation getaway, investment property, or year-round residence, this condo blends coastal charm with modern elegance. Walk to the beach, Treasure Bay Casino, Big Play Entertainment, Go-Karts, Mini Golf and popular beach restaurants with an amazing sunset view. Move in ready - your coastal getaway awaits!!!

Key facts

• Gated community
• Steps to the beach
• Investment property

Tags

• GATED COMMUNITY
• STEPS TO THE BEACH
• INVESTMENT PROPERTY
• AMAZING SUNSET VIEW

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $93k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $40 ($477/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• Recommended offer: $82k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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-.
• Biloxi Public School District (urban): math 60% / reading 48% proficiency, ranked #7 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 201 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k 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 225 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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 $81,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.24% ✓
• Cap rate: 6.81%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.05% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.40×
• Total profit: $-15,702
• Equity at exit: $13,867

10-year hold

• IRR: -20.1%
• Equity multiple: 0.13×
• Total profit: $-22,626
• Equity at exit: $8,041

Cash invested: $26,040 (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 39531

• Home prices YoY: -13.0%
• Rents YoY: 0.1%
• Active inventory: 201
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$488
• Tax est. 1.5%: −$116 /mo · $1,395/yr
• Insurance: −$39
• HOA: −$228
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $40

Break-even live

Break-even rent $1,102

Max offer price $93,000

Occupancy floor 92%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245 Mc Donnell Ave Unit E-131 Biloxi, MS	2.0	1.0	745	$995	$1.34	44d	1	0.02mi
245 Mc Donnell Ave Unit G-147 Biloxi, MS	1.0	1.0	608	$1,500	$2.47	21d	1	0.02mi
245 Mc Donnell Ave Unit I-164 Biloxi, MS	2.0	1.0	745	$1,195	$1.60	44d	1	0.02mi
1667 Irish Hill Dr Biloxi, MS	1.0–2.0	1.0–1.5	862	$889	$1.03	13d	1	0.40mi
1910 Southern Ave Biloxi, MS	1.0–2.0	1.0–1.5	725	$1,000	$1.38	13d	2	0.49mi
1664 Beach Blvd Biloxi, MS	1.0–2.0	1.0–1.5	801	$1,200	$1.50	13d	2	0.54mi
150 Pat Harrison St Biloxi, MS	2.0	1.0	673	$1,025	$1.52	44d	1	1.06mi

HOA detail condo

• Monthly dues: $228 · $2,736/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-03-10
   price $93,000 441-char remark

   Show marketing remark (441 chars)

   Adorable 1 BR Condo - steps to the white sand Biloxi Beach & Casino! Main level, elegant furnishing, gated community. Perfect for vacation getaway, investment property, or year-round residence, this condo blends coastal charm with modern elegance. Walk to the beach, Treasure Bay Casino, Big Play Entertainment, Go-Karts, Mini Golf and popular beach restaurants with an amazing sunset view. Move in ready - your coastal getaway awaits!!!

2. 2026-01-26
   status Active 441-char remark

   Show marketing remark (441 chars)

   Adorable 1 BR Condo - steps to the white sand Biloxi Beach & Casino! Main level, elegant furnishing, gated community. Perfect for vacation getaway, investment property, or year-round residence, this condo blends coastal charm with modern elegance. Walk to the beach, Treasure Bay Casino, Big Play Entertainment, Go-Karts, Mini Golf and popular beach restaurants with an amazing sunset view. Move in ready - your coastal getaway awaits!!!

3. 2025-11-22
   status Pending 441-char remark

   Show marketing remark (441 chars)

   Adorable 1 BR Condo - steps to the white sand Biloxi Beach & Casino! Main level, elegant furnishing, gated community. Perfect for vacation getaway, investment property, or year-round residence, this condo blends coastal charm with modern elegance. Walk to the beach, Treasure Bay Casino, Big Play Entertainment, Go-Karts, Mini Golf and popular beach restaurants with an amazing sunset view. Move in ready - your coastal getaway awaits!!!

4. 2025-08-09
   listed $89,900 Active 441-char remark

   Show marketing remark (441 chars)

   Adorable 1 BR Condo - steps to the white sand Biloxi Beach & Casino! Main level, elegant furnishing, gated community. Perfect for vacation getaway, investment property, or year-round residence, this condo blends coastal charm with modern elegance. Walk to the beach, Treasure Bay Casino, Big Play Entertainment, Go-Karts, Mini Golf and popular beach restaurants with an amazing sunset view. Move in ready - your coastal getaway awaits!!!

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,830
• − Mortgage interest: −$5,209
• − Property taxes: −$1,395
• − Insurance: −$465
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − HOA: −$2,736
• − Depreciation: −$2,705
• Taxable loss: −$894
• Est. tax savings @ 24.0%: +$214
• After-tax cash flow: $692/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This move-in ready condo is in good condition with fresh curb appeal and interior aesthetics. Minor updates to paint, landscaping, and flooring would significantly enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in kitchen and bathrooms — Modern flooring improves aesthetics and adds value
• Both New window treatments — Enhances curb appeal and interior aesthetics
• Both New lighting fixtures — Modernizes the space and improves ambiance

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Modern flooring improves aesthetics and adds value ↑
• Both New window treatments — Enhances curb appeal and interior aesthetics ↑
• Both New lighting fixtures — Modernizes the space and improves ambiance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Biloxi Public School District
• NCES district ID: 2800630
• Math proficiency: 60% ▼ -7.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $40,608
• Composite: 45.26/100
• National rank: #2657
• State rank: #7 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): 18,918
• Household income: $54,218
• Rent vs Own: 61.4% rent · 38.6% own
• Severe rent burden: 1110.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 60% Black 18% Two or more races 12% Hispanic / Latino 11% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 6% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 6% Arabic 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: ▼ -28.97%
• Current HPI: 193.4018
• Rent YoY: ▬ 0.05%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+3.4% since first listed

4 events — show timeline

• 2026-03-10 Price Changed $93,000 MLSU
• 2026-01-26 Relisted — MLSU
• 2025-11-22 Pending — MLSU
• 2025-08-09 Listed $89,900 MLSU