26 Lakeview Dr

Bay Springs, MS 39422

$55,000B

3 bd · 1.0 ba · 1,356 sqft · Built 1982 · SingleFamily · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,081/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $419/mo
• Annual: $5,031/yr
• Cap rate: 15.44%
• Cash-on-cash: 32.67%
• DSCR: 2.45
• 1% rule: 1.97%
• Cash to close: $15,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 106 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• In year one you build about $568 of equity ($380 loan paydown + $188 appreciation (0.3% local appreciation)).
• Location reads 65/100 on livability (#113 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• West Jasper Consolidated Schools (rural): math 38% / reading 34% proficiency, ranked #53 of 130 in MS (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bay Springs Elem Sch (math 47% / reading 37%, grade F, #108 of 375 statewide, top 30%, 405 students, 99% FRL); Bay Springs Middle Sch (math 27% / reading 22%, grade F, #100 of 179 statewide, top 57%, 197 students, 98% FRL); Bay Springs High School (math 5% / reading 15%, grade F, #168 of 197 statewide, top 86%, 225 students, 99% FRL) — zoned schools average 99% FRL vs 71% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 15 active listings in the ZIP; 3 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.