249 Hemingway Cir · Canton, MS 39046

$297,900

3 bd · 2.0 ba · 1,632 sqft · SingleFamily · 3 Days on market

Built 2024 Good condition 0.25 ac lot Est $295k · at est. $33/mo HOA · 1% of rent

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Why this score? — see what drove the D- 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 +11.2/30.0
• ARV discount +7.1/15.0
• Schools +4.8/10.0
• Condition / age +4.0/5.0
• 1% rule +3.4/10.0
• DSCR +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come check out this custom-built home with a private lot and was built with many upgrades. This 3/2 split plan was built with upgrades like high end LVP flooring throughout the home. It has custom built cabinets throughout the home. A office custom office with bookshelves in the back so you can get away to do some work or just relax. A private fence in backyard with additional concrete to set up additional furniture for guest. This one will not last long so call a Realtor today to set up a showing.

Key facts

• Private lot
• Custom office
• Additional concrete

Tags

• PRIVATE LOT
• HIGH END LVP FLOORING
• CUSTOM BUILT CABINETS
• CUSTOM OFFICE
• PRIVATE FENCE
• ADDITIONAL CONCRETE

Property features AI

Finance

• Other: Property address: 249 Hemingway Circle, Canton, MS 39046; Living area reported as 1,632 (source: appraiser)
• Financial info: Financial details such as taxes and assessments excluded
• HOA & community: Homeowners association with annual fee of $400 (includes management)

Exterior

• Parking: 2-car garage; Garage door opener; Concrete driveway/garage flooring
• Security: No specific security features listed
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected (kitchen gas available); Cable available; Water connected
• Home design: Single family residence (house); One story; Move-in ready
• Construction: Brick construction; Architectural shingle roof; Slab foundation; Built year from public records
• Exterior features: Slab patio/porch; Wood full fencing; Front yard; Fenced yard

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Exhaust fan; Gas water heater
• Bedrooms: Bedrooms information not provided
• Flooring: Luxury vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Fireplace provides additional heating; Central air conditioning; Ceiling fans; Gas-powered cooling components
• Interior features: Ceiling fans; High ceilings; Insulated windows; Gas log fireplace with gas starter
• Laundry & utility: Washer/dryer information not provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $298k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (16.1% below list).
• Recommended offer: $250k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.2% in Canton — 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 60/100 on livability (#229 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+; Watch: amenities F, commute F, employment F.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Madison Crossing Elementary (math 52% / reading 55%, grade C, #49 of 375 statewide, top 13%, 775 students, 100% FRL); Germantown Middle School (math 55% / reading 58%, grade B, #14 of 179 statewide, top 7%, 1,008 students, 100% FRL); Germantown High School (math 34% / reading 41%, grade F, #59 of 197 statewide, top 30%, 1,396 students, 100% FRL) — zoned schools average 100% FRL vs 29% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 358 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $250,000 (16.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $295,392
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
247 Hemingway Cir	0.01mi	3/2.0	1,506 (-8%)	4mo	$275,000	$183	84
126 Madisonville Dr	0.11mi	3/2.0	1,725 (+6%)	3mo	$299,999	$174	83
136 Madisonville Dr	0.07mi	3/2.0	1,524 (-7%)	9mo	$275,900	$181	78
134 Madisonville Dr	0.07mi	3/2.0	1,506 (-8%)	9mo	$272,900	$181	76
106 Madisonville Dr	0.24mi	3/2.0	1,735 (+6%)	3mo	$294,999	$170	76
140 Madisonville Dr	0.14mi	3/2.0	1,506 (-8%)	9mo	$272,900	$181	73
201 Hemingway Cir	0.22mi	3/2.0	1,524 (-7%)	9mo	$274,900	$180	71
104 Bridge Hollow Ln	0.51mi	3/2.0	1,672 (+2%)	4mo	$279,000	$167	69
205 Hemingway Cir	0.29mi	3/2.0	1,506 (-8%)	9mo	$274,400	$182	66
203 Hemingway Cir	0.29mi	3/2.0	1,506 (-8%)	9mo	$274,400	$182	66
111 Bridge Park Cir	0.58mi	3/2.0	1,758 (+8%)	6mo	$269,900	$154	55
110 Bridge Park Dr	0.68mi	3/2.0	1,796 (+10%)	4mo	$285,000	$159	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -19.0%
• Equity multiple: 0.33×
• Total profit: $-55,649
• Equity at exit: $44,418

10-year hold

• IRR: -11.6%
• Equity multiple: 0.31×
• Total profit: $-57,795
• Equity at exit: $25,757

Cash invested: $83,412 (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 39046

• Home prices YoY: -30.1%
• Active inventory: 358
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,562
• Tax est. 1.5%: −$372 /mo · $4,468/yr
• Insurance: −$124
• HOA: −$33
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-117

Break-even live

Break-even rent $2,648

Max offer price $281,010

Occupancy floor 100%

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: $74,475
• Closing costs: $8,937
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Trailbridge Crossing Canton, MS	3.0	2.0	1750	$2,500	$1.43	14d	1	0.59mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 4 events

1. 2026-06-18
   days on market $297,900 Active 3 DOM
2. 2026-06-17
   days on market $297,900 Active 2 DOM
3. 2026-06-15
   remarks 503-char remark
4. 2026-06-15
   listed $297,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$16,687
• − Property taxes: −$4,468
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$396
• − Depreciation: −$8,666
• Taxable loss: −$6,507
• Est. tax savings @ 24.0%: +$1,562
• After-tax cash flow: $161/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 · 12 photos

Good 80/100 Cosmetic rehab

This custom-built home with upgrades and a private lot is in good condition, ready for a new owner.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Rental Clean and maintain gutters — Keeps home in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Clean and maintain gutters — Keeps home in good condition ↑

ⓘ 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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Canton

• Score: 60/100
• State rank: #229
• US rank: #19396

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing C Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 29,160
• Population (ZIP): 29,160

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% White 31% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.50%
• Current HPI: 154.0441
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-15 Listed $297,900 MLSU