Nestled in the charming town of Ocean Springs, Mississippi, 112 Penny Ct is a notable property that has caught the attention of homebuyers, investors, and real estate enthusiasts. This prime location offers a blend of southern charm, modern convenience, and a serene coastal lifestyle.
In this guide, we provide a detailed analysis of 112 Penny Ct, covering property features, neighborhood insights, market trends, and investment potential. Whether you’re considering purchasing a home in Ocean Springs or simply exploring real estate opportunities, this article will equip you with all the essential information.
About 112 Penny Ct, Ocean Springs, MS
Located in a sought-after residential community, 112 Penny Ct offers an ideal living space for families, retirees, and professionals looking for a balance between tranquility and accessibility. The property boasts a spacious layout, modern amenities, and a prime location within the vibrant Ocean Springs real estate market.
Key Features of the Property
- Spacious Lot & Home Size – Offers ample outdoor space and comfortable interiors.
- Modern Architectural Design – Features contemporary styling with energy-efficient upgrades.
- Prime Location – Situated in a well-connected neighborhood with easy access to shopping, dining, and entertainment.
- Close to the Coastline – Just minutes from Mississippi’s Gulf Coast, providing stunning views and recreational activities.
- Investment Potential – A promising real estate asset with growing market value.
The Neighborhood: Living in Ocean Springs, MS
1. Location & Accessibility
Ocean Springs is known for its historic charm, arts culture, and coastal beauty. Situated along the Mississippi Gulf Coast, the town is an attractive destination for homeowners looking for a peaceful yet vibrant environment.
- Distance to Biloxi: Approx. 5 miles, making it convenient for work and entertainment.
- Major Highways: Easy access to Interstate 10 and Highway 90 for smooth commuting.
- Public Transport: Local bus services and well-maintained roads enhance connectivity.
2. Schools & Education
Families considering 112 Penny Ct will appreciate Ocean Springs’ highly-rated school system.
- Public Schools: Ocean Springs High School, Pecan Park Elementary, Oak Park Elementary.
- Private Schools: St. Alphonsus Catholic School, Gulf Coast Classical Academy.
- Higher Education: Nearby institutions include Mississippi Gulf Coast Community College and The University of Southern Mississippi.
3. Recreation, Shopping, & Dining
Ocean Springs offers a variety of leisure and entertainment options for residents of 112 Penny Ct.
- Outdoor Activities: Beachfront parks, fishing piers, and Gulf Islands National Seashore.
- Dining: Local favorites include The Shed BBQ, Vestige, and Maison de Lu.
- Shopping Centers: Ocean Springs Plaza, The Promenade, and charming downtown boutiques.
4. Safety & Community Environment
Ocean Springs is known for its low crime rate and friendly community. Local neighborhood associations and events create a welcoming atmosphere for families and retirees alike.
Real Estate Market Trends in Ocean Springs
1. Home Value Trends
Ocean Springs has seen consistent appreciation in home values, making properties like 112 Penny Ct a smart investment.
- Average Home Price: $250,000 – $400,000 (depending on size and condition).
- Annual Appreciation Rate: Approximately 5-7%.
- Market Demand: Strong due to the area’s coastal appeal and quality of life.
2. Rental Market Overview
- Average Rent for Single-Family Homes: $1,500 – $2,500/month.
- Vacation Rentals: Popular due to Ocean Springs’ tourist-friendly attractions.
- Long-Term Investment Returns: Solid rental yields, especially for waterfront properties.
3. Investment Potential
- Short-Term Rentals: Proximity to Biloxi and beach areas makes short-term rentals a viable option.
- Property Flipping: Strong demand for updated homes in established neighborhoods.
- Long-Term Growth: Increasing property values contribute to a high resale potential.
Financing & Buying Considerations
If you’re looking to purchase 112 Penny Ct, Ocean Springs, MS, here are some important financing and buying factors to consider.
1. Mortgage & Loan Options
- Conventional Loans: For buyers with strong credit.
- FHA Loans: Suitable for first-time homebuyers.
- VA Loans: Benefits for eligible military personnel and veterans.
2. Home Inspection & Property Condition
- Conduct a thorough home inspection to ensure there are no structural issues.
- Verify hurricane-resistant features, especially for properties near the coast.
3. Closing Costs & Additional Expenses
- Typical Closing Costs: Around 2-5% of the home’s purchase price.
- Property Taxes: The Ocean Springs tax rate is competitive compared to other coastal towns.
- Homeowner’s Insurance: Flood insurance may be required due to coastal proximity.
Selling a Home in Ocean Springs, MS
If you’re considering selling 112 Penny Ct, follow these expert tips to maximize its market value.
1. Enhancing Curb Appeal
- Maintain landscaping, exterior paint, and lighting.
- Update entryways with modern doors and hardware.
2. Home Staging & Photography
- Use professional staging techniques to highlight the property’s best features.
- Invest in high-quality photos and virtual tours for online listings.
3. Pricing & Marketing Strategy
- Research comparable sales (comps) in the Ocean Springs market.
- Work with a local real estate agent to list on Zillow, Realtor.com, and Redfin.
Conclusion
112 Penny Ct, Ocean Springs, MS is a prime real estate opportunity offering an exceptional living experience and investment potential. Whether you are a homebuyer, investor, or seller, understanding the market trends, financial considerations, and neighborhood benefits will help you make the best decision.
If you are interested in this property, consulting with a local real estate expert can provide additional insights and ensure a seamless transaction.
