185 Chatham Dr · Holly Springs, MS 38635

$137,900

3 bd · 1.0 ba · 1,658 sqft · SingleFamily public records · 7 Days on market

Built 1964 0.41 ac lot Est $219k · 37% under ↓ 16% since listing

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.6/10.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

This home is a must see! Pictures does this home no justice. If you are looking for space at the right price you have found it! This home has a large eat in kitchen, a den with a fireplace and two full bath, original hardwood floor and a garage. The master bedroom has a full bath and 3 closet for plenty of storage. This home has been well kept and in great condition. This neighborhood is quiet and is just waiting for you.

Key facts

• Large eat in kitchen
• Quiet neighborhood
• Den with fireplace

Tags

• LARGE EAT IN KITCHEN
• DEN WITH FIREPLACE
• ORIGINAL HARDWOOD FLOOR
• QUIET NEIGHBORHOOD

Property features AI

Exterior

• Parking: 1-car garage; Driveway; Garage door opener; Garage faces side; Concrete parking surfaces
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Single family residence; House; One level; Move-in ready
• Construction: Brick and siding exterior; Architectural shingle roof; Slab foundation; Estimated living area 1,658
• Exterior features: Patio; Corner lot

Interior

• Kitchen: Large eat-in kitchen; Open to living room with breakfast bar; Free-standing electric range; Kitchen island
• Bedrooms: Primary bedroom (main level); Additional bedrooms (main level)
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Kitchen island; Open floorplan; Storm doors; Hearth masonry wood-burning fireplace
• Laundry & utility: Washer/dryer hookups likely available (utilities connected)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Cap rate 9.4% vs local median 5.4% in Holly Springs — 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 62/100 on livability (#178 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Holly Springs School District (town): math 12% / reading 15% proficiency, ranked #111 of 130 in MS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Holly Springs Primary School (math 12% / reading 12%, grade F, #308 of 375 statewide, top 83%, 358 students, 100% FRL); Holly Springs Junior High School (math 17% / reading 17%, grade F, #125 of 179 statewide, top 70%, 138 students, 100% FRL); Holly Springs High School (math 12% / reading 12%, grade F, #164 of 197 statewide, top 84%, 301 students, 100% FRL).
• Market conditions: 146 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 310 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $939 of equity ($953 loan paydown + $-14 appreciation (-0.0% local appreciation)).
• Marshall County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,900

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $218,856
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
260 Roberts Ave	0.43mi	3/2.0	1,656 (-0%)	22mo	$199,500	$120	58
659 Coleman Ave	0.57mi	3/2.0	1,722 (+4%)	11mo	$189,900	$110	54
27 Jepson St	0.56mi	3/2.5	1,414 (-15%)	3mo	$273,990	$194	41
605 Salem Ave	0.57mi	3/1.0	1,437 (-13%)	13mo	$189,000	$132	40

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

Projected returns pro-forma

-0.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.48×
• Total profit: $18,399
• Equity at exit: $39,973

10-year hold

• IRR: 14.9%
• Equity multiple: 2.63×
• Total profit: $63,003
• Equity at exit: $47,994

Cash invested: $38,612 (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 38635

• Home prices YoY: -0.0%
• Active inventory: 146
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$723
• Tax from tax record: −$130 /mo · $1,561/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $353

Break-even live

Break-even rent $1,153

Max offer price $137,900

Occupancy floor 73%

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: $34,475
• Closing costs: $4,137
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
275 W Chulahoma Ave Holly Springs, MS	3.0	3.0	2243	$1,600	$0.71	21d	1	0.86mi

Listing history 9 events

1. 2026-05-20
   listed $137,900 Active
2. 2026-03-18
   status Active
3. 2026-03-18
   historical
4. 2026-03-12
   status Active
5. 2026-02-26
   historical
6. 2026-02-26
   historical
7. 2026-01-20
   price $145,000
8. 2025-08-28
   price $170,000
9. 2025-08-26
   listed $165,000 Active

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

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $1,561 · $130/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $19,200
• − Mortgage interest: −$7,725
• − Property taxes: −$1,561
• − Insurance: −$690
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,012
• Taxable income: $2,141
• Est. tax owed @ 24.0%: −$514
• After-tax cash flow: $3,725/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: Holly Springs School District
• NCES district ID: 2801950
• Math proficiency: 12% ▼ -12.00%
• Reading proficiency: 15% ▼ -7.00%
• Median HH income: $33,106
• Composite: 10.9/100
• National rank: #9752
• State rank: #111 of 130 in MS

Livability — Holly Springs

• Score: 62/100
• State rank: #178
• US rank: #16836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holly Springs, MS
• Population (ZIP): 15,312

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,542 people
• By 2030: 31,983 · -4.6%
• By 2040: 28,556 · -14.9%
• By 2050: 25,352 · -24.4%
• By 2075: 20,032 · -40.3%
• By 2100: 16,738 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Two or more races 5%
• Common ancestry: Serbian 1% English 1%
• Foreign-born: 3%
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Marshall

• 2024 margin: Lean R (+7.3) · D 46.0% · R 53.2%
• 2008→2024 swing: -25.5pp toward R · 2008: 18.2pp · 2024: -7.3pp
• All cycles: 2024: R+7.3 2020: D+3.1 2016: D+9.7 2012: D+19.4 2008: D+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.01%
• Current HPI: 245.68
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-16.4% since first listed

9 events — show timeline

• 2026-05-20 Listed $137,900 MLSU
• 2026-03-18 Relisted — MLSU
• 2026-03-18 Listing Removed — MLSU
• 2026-03-12 Relisted — MLSU
• 2026-02-26 Listing Removed — MLSU
• 2026-02-26 Listing Removed — MLSU
• 2026-01-20 Price Changed $145,000 MLSU
• 2025-08-28 Price Changed $170,000 MLSU
• 2025-08-26 Listed $165,000 MLSU

Property tax history

+2.9%/yr

Latest (2025): $1,561 · +17.2% YoY. Source: county tax records.