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$138,000

For Sale - Active
3230 Cumberland Rd Apt 10, Ocean Springs, MS 39564
2 Beds
2 Baths
0 Square Feet
7.40 Acres Lot
Built in 1972
For Sale - Active
Units n/a
Checked: 23 hours ago
Updated: Aug 30, 2025 at 10:54PM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$190
Cap Rate
7.3%
Cash-on-Cash Return
7.2%
Debt Coverage Ratio
1.29
Internal Rate of Return (5 years)
11.0%

Property Description


7.40 Acres Lot
Built in 1972
For Sale - Active
Units n/a

This charming 2 bedroom, 1.5 bath end unit condo is ideally located near Downtown Ocean Springs, making it perfect as a vacation home, primary residence, or investment property. Come enjoy living on the beautiful Ms Gulf Coast which offers lots of great seafood and restaurants, beaches, golf, casinos, entertainment, fishing and boating and much more. This community offers several amenities which includes: tennis courts, picnic area, gym, swimming pool, club house, putting green and a marina with boat slips that are available to purchase. The HOA covers maintenance of the common grounds, landscaping, pest control, water/sewage, building upkeep, club house, pool, as well as exterior building insurance and flood insurance. Come enjoy this cozy and quiet community nestled back along the bayou!

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Location


Property Details


Parking

  • Description: Assigned
  • Details: Assigned
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Type: Flat
  • Roof Material: Shingle
  • Pool: Yes

Land Information

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

Lot Information

  • Parcel ID: 61332010.000
  • Lot Size: 322344 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1972

Tax Information

  • Annual Tax: $1,472

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Jackson

Listing Details


Listed by:
Charlotte Ballard
eAgent VIP Realty
(228) 697-2624

Source:
MLS United
MLS#: 4123479
MLS United

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$190
Cap Rate
7.3%
Cash-on-Cash Return
7.2%
Debt Coverage Ratio
1.29
Internal Rate of Return (5 years)
11.0%

Purchase Details

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Purchase price:
$138,000
Amount financed:
-$110,400
Down payment:
$27,600
Closing costs:
$4,140
Rehab costs:
$0
Initial cash invested:
$31,740
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

Find a Lender

Loan amount:
$110,400
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$653
Property tax:
$123
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$874

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$123-$1,472
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (34%)
34%-$473-$5,672

Cash Flow


Monthly Yearly
Net operating income:
$843 $10,116
Mortgage payments:
-$653 -$7,836
Cash flow:
$190 $2,280