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$665,000

For Sale - Active
124 Surgeres Pl, Ocean Springs, MS 39564
4 Beds
2 Baths
0 Square Feet
0.32 Acres Lot
Built in 1999
For Sale - Active
Units n/a
Checked: 20 hours ago
Updated: Sep 01, 2025 at 05:11AM

Investment Summary


Monthly Cash Flow
-$1,398
Cap Rate
3.2%
Cash-on-Cash Return
-11.0%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.6%

Property Description


0.32 Acres Lot
Built in 1999
For Sale - Active
Units n/a

GREAT LOCATION! Experience the thriving downtown Ocean Springs lifestyle with the convenience of this exceptional subdivision located in the golf cart district. Capture the view of the meticulously landscaped backyard as you pass through the brick arch of the foyer into the open living space with tall windows expanding the family room to the kitchen. This split floor plan offers a formal dining room, fireplace in the living room complete with surround sound, high ceilings & wood flooring. An eat-in kitchen, custom cabinetry, granite countertops, island, pantry & laundry room with brick flooring throughout. An exquisite chandelier hangs from the tray ceiling of the primary bedroom with two walk-in closets & en-suite with separate sinks, jetted tub, shower, vanity & great storage. Guest bath & well-portioned bedrooms with ample closets are located on opposite side. Relax on the front porch & entertain on the expansive covered back porch overlooking the fenced in picturesque grounds which includes a quaint workshop.Two car garage & plenty of extra parking. NOT IN A FLOOD ZONE!

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Location


Property Details


Parking

  • Description: Garage, Garage Door Opener
  • Details: Driveway, Garage Faces Side, Guest, Paved
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Type: Hip

HOA

  • Has HOA: Yes
  • HOA Fee: $198/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 61262121.000
  • Lot Size: 13939 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1999

Tax Information

  • Annual Tax: $2,823

Utilities

  • Water & Sewer: Public
  • Heating: Central, Fireplace(s), Natural Gas
  • Cooling: Central Air, Ceiling Fan(s), Gas

Location

  • County: Jackson

Listing Details


Listed by:
Gretchen Gilich
Blackstone Realty, LLC
(228) 243-2662

Source:
MLS United
MLS#: 4120448
MLS United

Investment Summary


Monthly Cash Flow
-$1,398
Cap Rate
3.2%
Cash-on-Cash Return
-11.0%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.6%

Purchase Details

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Purchase price:
$665,000
Amount financed:
-$532,000
Down payment:
$133,000
Closing costs:
$19,950
Rehab costs:
$0
Initial cash invested:
$152,950
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$532,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,147
Property tax:
$235
Insurance:
$203
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,585

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,900 $34,800
Vacancy loss: (6%)
6% -$174 -$2,088
Operating income:
$2,726 $32,712

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$235-$2,823
Insurance: (7%)
7%-$203-$2,436
Property management: (8%)
8%-$232-$2,784
Repairs & maintenance: (5%)
5%-$145-$1,740
Capital expenditures: (5%)
5%-$145-$1,740
HOA fees: (1%)
1%-$17-$204
Total operating expenses: (34%)
34%-$977-$11,727

Cash Flow


Monthly Yearly
Net operating income:
$1,749 $20,988
Mortgage payments:
-$3,147 -$37,764
Cash flow:
$1,398 $16,776