429 NE 1st Ave · Magee, MS 39111

$74,500

3 bd · 2.0 ba · 1,928 sqft · SingleFamily · 185 Days on market

Built 1930 Fair condition 0.40 ac lot $39/sqft · 58% below area ↓ 6% since listing

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0

Listing remarks MLS

NOTICE!! SELLER IS OFFERING $7,500 IN CONCESSIONS FOR THIS PROPERTY, Welcome to 429 First Ave. NE, a charming Arts and Crafts bungalow brimming with potential, nestled in the heart of historic downtown Magee, MS. This 3-bedroom, 2-bathroom home offers 1,928 square feet of classic design and timeless character. Featuring original hardwood floors throughout, this property exudes charm and possibilities. With a little vision and a bit of elbow grease, this fixer-upper is the perfect investment for someone looking to restore a piece of history to its former glory. The layout flows naturally from room to room, offering ample space for family living or entertaining. Whether you're looking to design a cozy retreat or turn it into a stunning resale property, the bones of this home provide the perfect foundation. The large bedrooms and functional bathrooms are ideal for updating with modern touches, while the historical neighborhood adds to the appeal. Priced right for the savvy investor, this bungalow is ready to be the next great gem of the neighborhood.

Key facts

• 0.4 acre lot
• Built 1930
• Listed 185 days

Tags

• ARTS AND CRAFTS BUNGALOW
• ORIGINAL HARDWOOD FLOORS
• HISTORIC DOWNTOWN MAGEE
• HISTORICAL NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $74k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 3.6% in Magee — 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 63/100 on livability (#158 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($515 loan paydown + $2k appreciation (2.9% local appreciation)).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 1.54% ✓
• Cap rate: 12.56%
• Cash-on-cash: 22.39%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

• ARV (median comp): $176,203
• List price: $74,500
• Delta: -57.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 SW 4th Ave	0.26mi	4/3.0 (+1)	1,873 (-3%)	11mo	$169,000	$90	65
320 NE 2nd Ave	0.44mi	3/1.0	1,871 (-3%)	7mo	$65,000	$35	65
608 NW Goodwater Rd	0.61mi	3/2.0	1,736 (-10%)	20mo	$155,900	$90	38

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

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.40×
• Total profit: $29,196
• Equity at exit: $33,083

10-year hold

• IRR: 25.7%
• Equity multiple: 4.63×
• Total profit: $75,707
• Equity at exit: $50,665

Cash invested: $20,860 (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 39111

• Home prices YoY: 1.8%
• Active inventory: 75
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,144 medium
• Mortgage (P&I): −$391
• Tax est. 1.5%: −$93 /mo · $1,118/yr
• Insurance: −$31
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $323

Break-even live

Break-even rent $736

Max offer price $74,500

Occupancy floor 67%

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $74,500 Active 185 DOM
2. 2026-06-17
   days on market $74,500 Active 184 DOM
3. 2026-06-16
   days on market $74,500 Active 183 DOM
4. 2026-06-01
   days on market $74,500 Active 182 DOM
5. 2026-05-31
   days on market $74,500 Active 181 DOM
6. 2026-03-13
   price $74,500 1067-char remark

   Show marketing remark (1067 chars)

   NOTICE!! SELLER IS OFFERING $7,500 IN CONCESSIONS FOR THIS PROPERTY, Welcome to 429 First Ave. NE, a charming Arts and Crafts bungalow brimming with potential, nestled in the heart of historic downtown Magee, MS. This 3-bedroom, 2-bathroom home offers 1,928 square feet of classic design and timeless character. Featuring original hardwood floors throughout, this property exudes charm and possibilities. With a little vision and a bit of elbow grease, this fixer-upper is the perfect investment for someone looking to restore a piece of history to its former glory. The layout flows naturally from room to room, offering ample space for family living or entertaining. Whether you're looking to design a cozy retreat or turn it into a stunning resale property, the bones of this home provide the perfect foundation. The large bedrooms and functional bathrooms are ideal for updating with modern touches, while the historical neighborhood adds to the appeal. Priced right for the savvy investor, this bungalow is ready to be the next great gem of the neighborhood.

7. 2025-12-01
   listed $79,500 Active 1067-char remark

   Show marketing remark (1067 chars)

   NOTICE!! SELLER IS OFFERING $7,500 IN CONCESSIONS FOR THIS PROPERTY, Welcome to 429 First Ave. NE, a charming Arts and Crafts bungalow brimming with potential, nestled in the heart of historic downtown Magee, MS. This 3-bedroom, 2-bathroom home offers 1,928 square feet of classic design and timeless character. Featuring original hardwood floors throughout, this property exudes charm and possibilities. With a little vision and a bit of elbow grease, this fixer-upper is the perfect investment for someone looking to restore a piece of history to its former glory. The layout flows naturally from room to room, offering ample space for family living or entertaining. Whether you're looking to design a cozy retreat or turn it into a stunning resale property, the bones of this home provide the perfect foundation. The large bedrooms and functional bathrooms are ideal for updating with modern touches, while the historical neighborhood adds to the appeal. Priced right for the savvy investor, this bungalow is ready to be the next great gem of the neighborhood.

8. 2025-11-30
   historical
9. 2024-11-20
   listed $79,500 Active

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $13,732
• − Mortgage interest: −$4,173
• − Property taxes: −$1,118
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$2,167
• Taxable income: $2,907
• Est. tax owed @ 24.0%: −$698
• After-tax cash flow: $3,175/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

Fair 45/100 Moderate rehab

This fixer-upper requires moderate renovations to bring it up to a fair condition. Painting, landscaping, and kitchen/bathroom renovations would significantly increase its value.

Repairs flagged

• Major Kitchen cabinets — Severe wear and tear
• Major Kitchen countertops — Severe wear and tear
• Major Kitchen flooring — Severe wear and tear
• Major Bathroom fixtures — Severe wear and tear
• Major Bathroom flooring — Severe wear and tear
• Major Paint — Severe wear and tear

Value-add opportunities

• Both Painting — Enhances curb appeal and interior aesthetics
• Both Landscaping — Enhances curb appeal and property value
• Both Kitchen renovation — Modernizes the space and increases functionality
• Both Bathroom renovation — Modernizes the space and increases functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Severe wear and tear	Major	$15,000–50,000
Kitchen countertops · Severe wear and tear	Major	$15,000–50,000
Kitchen flooring · Severe wear and tear	Major	$15,000–50,000
Bathroom fixtures · Severe wear and tear	Major	$15,000–50,000
Bathroom flooring · Severe wear and tear	Major	$15,000–50,000
Paint · Severe wear and tear	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Painting — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Enhances curb appeal and property value ↑
• Both Kitchen renovation — Modernizes the space and increases functionality ↑
• Both Bathroom renovation — Modernizes the space and increases functionality ↑

ⓘ 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: Simpson County School District
• NCES district ID: 2803990
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,826
• Composite: 17.46/100
• National rank: #9063
• State rank: #90 of 130 in MS

Livability — Magee

• Score: 63/100
• State rank: #158
• US rank: #15438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Magee, MS
• Population (ZIP): 8,927

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 26,197 people
• By 2030: 25,474 · -2.8%
• By 2040: 23,811 · -9.1%
• By 2050: 22,024 · -15.9%
• By 2075: 17,701 · -32.4%
• By 2100: 13,732 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 28% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+36.7) · D 31.4% · R 68.1%
• 2008→2024 swing: -14.3pp toward R · 2008: -22.4pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+30.4 2016: R+30.9 2012: R+22.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 161.8264
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-6.3% since first listed

4 events — show timeline

• 2026-03-13 Price Changed $74,500 MLSU
• 2025-12-01 Listed $79,500 MLSU
• 2025-11-30 Listing Removed — MLSU
• 2024-11-20 Listed $79,500 MLSU