613 Georgetown St

Hazlehurst, MS 39083

$98,000C+

3 bd · 1.0 ba · 2,320 sqft · Built 1977 · SingleFamily · Pending · 322 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,162/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $178/mo
• Annual: $2,139/yr
• Cap rate: 8.48%
• Cash-on-cash: 7.80%
• DSCR: 1.35
• 1% rule: 1.19%
• Cash to close: $27,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 322 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($678 loan paydown + $5k appreciation (5.1% local appreciation)).
• Location reads 60/100 on livability (#221 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Hazlehurst City School District (town): math 7% / reading 13% proficiency, ranked #115 of 130 in MS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hazlehurst Middle School (math 8% / reading 12%, grade F, #152 of 179 statewide, top 88%, 332 students, 100% FRL); Hazlehurst High School (math 2% / reading 12%, grade F, #186 of 197 statewide, top 96%, 401 students, 100% FRL).
• Market conditions: 32 active listings in the ZIP; 8 units permitted in Copiah County in 2024 (0 in 5+ unit buildings).
• Copiah County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $52k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.