3112 W Highway 98 · Summit, MS 39666

$195,000

3 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 97 Days on market

Built 1964 4.48 ac lot $144/sqft · 5% below area Est $245k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Country home nestled on 4.48 acres, features a pond and ample outdoor space. This 3-bedroom, 1-bathroom home offers a practical layout with modern kitchen finishes, including quartz countertops. A two-car garage provides abundant storage and convenience. Located in the North Pike School District, this property combines rural appeal with accessibility to everyday amenities. Recent roof replacement enhances long-term peace of mind.

Key facts

• Quartz countertops
• Pond
• Outdoor space

Tags

• 4.48 ACRES
• POND
• OUTDOOR SPACE
• MODERN KITCHEN FINISHES
• QUARTZ COUNTERTOPS
• TWO-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-56 ($-677/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (16.2% below list).
• Recommended offer: $163k (16.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#172 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety C-, amenities F, commute F.
• North Pike School District (town): math 25% / reading 32% proficiency, ranked #69 of 130 in MS (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Pike Elementary School (math 37% / reading 42%, grade F, #122 of 375 statewide, top 34%, 806 students, 100% FRL); North Pike Junior High School (math 26% / reading 24%, grade F, #99 of 179 statewide, top 55%, 353 students, 100% FRL); North Pike Senior High School (math 22% / reading 32%, grade F, #101 of 197 statewide, top 54%, 697 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 79 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Pike County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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.

Recommended offer $163,444 (16.2% 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. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• GRM: 9.9

CMA / ARV

• ARV (median comp): $244,969
• List price: $195,000
• Delta: -20.40%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.3%
• Equity multiple: 0.36×
• Total profit: $-35,165
• Equity at exit: $29,075

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-35,146
• Equity at exit: $16,860

Cash invested: $54,600 (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 39666

• Home prices YoY: -34.3%
• Active inventory: 79
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,634 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-56

Break-even live

Break-even rent $1,706

Max offer price $186,840

Occupancy floor 98%

Sensitivity live

Price	-10% $78	-5% $11	+0% $-56	+5% $-124	+10% $-191
Rent	-10% $-186	-5% $-121	+0% $-56	+5% $8	+10% $73
Rate	-1.0pp $42	-0.5pp $-7	base $-56	+0.5pp $-107	+1.0pp $-158

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $195,000 Active 97 DOM
2. 2026-06-21
   days on market $195,000 Active 96 DOM
3. 2026-06-18
   days on market $195,000 Active 94 DOM
4. 2026-06-17
   days on market $195,000 Active 93 DOM
5. 2026-06-16
   days on market $195,000 Active 92 DOM
6. 2026-06-15
   days on market $195,000 Active 91 DOM
7. 2026-06-13
   days on market $195,000 Active 89 DOM
8. 2026-06-12
   days on market $195,000 Active 88 DOM
9. 2026-06-09
   days on market $195,000 Active 85 DOM
10. 2026-06-08
    days on market $195,000 Active 84 DOM
11. 2026-06-07
    days on market $195,000 Active 83 DOM
12. 2026-06-07
    days on market $195,000 Active 82 DOM
13. 2026-06-04
    days on market $195,000 Active 79 DOM
14. 2026-06-02
    days on market $195,000 Active 78 DOM
15. 2026-06-01
    days on market $195,000 Active 77 DOM
16. 2026-05-31
    days on market $195,000 Active 76 DOM
17. 2026-05-12
    price $195,000 433-char remark

    Show marketing remark (433 chars)

    Country home nestled on 4.48 acres, features a pond and ample outdoor space. This 3-bedroom, 1-bathroom home offers a practical layout with modern kitchen finishes, including quartz countertops. A two-car garage provides abundant storage and convenience. Located in the North Pike School District, this property combines rural appeal with accessibility to everyday amenities. Recent roof replacement enhances long-term peace of mind.

18. 2026-04-14
    price $189,900 433-char remark

    Show marketing remark (433 chars)

    Country home nestled on 4.48 acres, features a pond and ample outdoor space. This 3-bedroom, 1-bathroom home offers a practical layout with modern kitchen finishes, including quartz countertops. A two-car garage provides abundant storage and convenience. Located in the North Pike School District, this property combines rural appeal with accessibility to everyday amenities. Recent roof replacement enhances long-term peace of mind.

19. 2026-03-16
    listed $199,000 Active 433-char remark

    Show marketing remark (433 chars)

    Country home nestled on 4.48 acres, features a pond and ample outdoor space. This 3-bedroom, 1-bathroom home offers a practical layout with modern kitchen finishes, including quartz countertops. A two-car garage provides abundant storage and convenience. Located in the North Pike School District, this property combines rural appeal with accessibility to everyday amenities. Recent roof replacement enhances long-term peace of mind.

20. 2021-12-28
    soldstatus
21. 2021-12-24
    soldstatus 814-char remark

    Show marketing remark (814 chars)

    When you want the peace of the country life but like the convenience of town, you should imagine living here. This charming farmhouse/cottage is located approx. 2 miles from Summit and 4 from McComb. Lovely wood flooring makes the country decor complete and built in bookshelves and frieze work accent as well. The many windows create a bright atmosphere throughout the entire home and makes a welcoming atmosphere. Enjoy your morning coffee on the porch or underneath the huge, beautiful oaks that make up the lawn. There are many possibilities to create your own outdoor gardens and landscaping. The possibilities are endless on this 4.48 acre lush green property offering 1000 feet of frontage on Hwy 98 West. Relax and believe yourself here... Call and make your appointment to see your new home today.

22. 2021-06-30
    listed $139,000 814-char remark

    Show marketing remark (814 chars)

    When you want the peace of the country life but like the convenience of town, you should imagine living here. This charming farmhouse/cottage is located approx. 2 miles from Summit and 4 from McComb. Lovely wood flooring makes the country decor complete and built in bookshelves and frieze work accent as well. The many windows create a bright atmosphere throughout the entire home and makes a welcoming atmosphere. Enjoy your morning coffee on the porch or underneath the huge, beautiful oaks that make up the lawn. There are many possibilities to create your own outdoor gardens and landscaping. The possibilities are endless on this 4.48 acre lush green property offering 1000 feet of frontage on Hwy 98 West. Relax and believe yourself here... Call and make your appointment to see your new home today.

23. 2008-06-12
    soldstatus
24. 2008-05-16
    soldstatus

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,613
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$5,673
• Taxable loss: −$4,021
• Est. tax savings @ 24.0%: +$965
• After-tax cash flow: $288/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.

Schools (NCES district)

• District: North Pike School District
• NCES district ID: 2803240
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $41,558
• Composite: 24.13/100
• National rank: #7748
• State rank: #69 of 130 in MS

Livability — Summit

• Score: 62/100
• State rank: #172
• US rank: #16320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,985

Population outlook (Pike County) Hauer SSP2

• Today (2025): 38,766 people
• By 2030: 37,874 · -2.3%
• By 2040: 35,743 · -7.8%
• By 2050: 33,276 · -14.2%
• By 2075: 26,799 · -30.9%
• By 2100: 18,562 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 36% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 0% · China

Political lean MEDSL · Pike

• 2024 margin: Toss-up / Even · D 47.8% · R 51.3%
• 2008→2024 swing: -7.0pp toward R · 2008: 3.5pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+1.0 2016: R+0.7 2012: D+7.6 2008: D+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.48%
• Current HPI: 113.9026
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+40.3% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $195,000 MLSU
• 2026-04-14 Price Changed $189,900 MLSU
• 2026-03-16 Listed $199,000 MLSU
• 2021-12-28 Sold (Public Records) — Public Records
• 2021-12-24 Sold (MLS) — MLSU
• 2021-06-30 Listed $139,000 MLSU
• 2008-06-12 Sold (Public Records) — Public Records
• 2008-05-16 Sold (Public Records) — Public Records

Property tax history

+148.5%/yr

Latest (2021): $145 · +7.2% YoY. Source: county tax records.