144 Mill Rd · Greenville, MS 38701

$25,000

3 bd · 0.5 ba · 1,444 sqft · MultiFamily public records · 25 Days on market

Built 1939 0.25 ac lot ↓ 37% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Home is a duplex- Great Investment with 1 Bedroom/ 1 bath in one unit and two bedrooms and 1 bath in the other unit. in Both are rented now. Two entrances to property Call Misti Lewis for a showing .

Key facts

• 0.25 acre lot
• Built 1939
• Listed 25 days

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.5% vs local median 4.5% in Greenville — 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 57/100 on livability (#284 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Greenville Public Schools (town): math 4% / reading 11% proficiency, ranked #126 of 130 in MS (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 93% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 128 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 10 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Washington County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 37% 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 $24,625 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.06% ✓
• Cap rate: 36.53%
• Cash-on-cash: 108.00%
• DSCR: 5.81
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.16×
• Total profit: $36,089
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 12.88×
• Total profit: $83,155
• Equity at exit: $2,162

Cash invested: $7,000 (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 38701

• Active inventory: 128
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,016 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $630

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 33%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Cypress Ln Greenville, MS	1.0–2.0	1.0–1.5	807	$959	$1.19	43d	1	0.88mi
614 Fairview Ave Unit 7 Greenville, MS	2.0	1.0	950	$799	$0.84	43d	1	0.98mi
1462 S Colorado St Greenville, MS	2.0–3.0	2.0	1150	$1,358	$1.18	43d	4	1.49mi

Listing history 5 events

1. 2026-04-19
   status Pending
2. 2026-03-26
   listed $25,000 Active
3. 2025-05-23
   listed $45,500 Active
4. 2021-05-28
   soldstatus 200-char remark

   Show marketing remark (200 chars)

   Home is a duplex- Great Investment with 1 Bedroom/ 1 bath in one unit and two bedrooms and 1 bath in the other unit. in Both are rented now. Two entrances to property Call Misti Lewis for a showing .

5. 2020-07-21
   listed $39,900 200-char remark

   Show marketing remark (200 chars)

   Home is a duplex- Great Investment with 1 Bedroom/ 1 bath in one unit and two bedrooms and 1 bath in the other unit. in Both are rented now. Two entrances to property Call Misti Lewis for a showing .

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 37% 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: $12,194
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$727
• Taxable income: $7,615
• Est. tax owed @ 24.0%: −$1,828
• After-tax cash flow: $5,732/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: Greenville Public Schools
• NCES district ID: 2801620
• Math proficiency: 4% ▼ -20.00%
• Reading proficiency: 11% ▼ -12.00%
• Median HH income: $26,432
• Composite: 5.27/100
• National rank: #10035
• State rank: #126 of 130 in MS

Livability — Greenville

• Score: 57/100
• State rank: #284
• US rank: #21778

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, MS
• Population (ZIP): 21,260

Population outlook (Washington County) Hauer SSP2

• Today (2025): 41,424 people
• By 2030: 38,061 · -8.1%
• By 2040: 31,752 · -23.3%
• By 2050: 26,394 · -36.3%
• By 2075: 17,180 · -58.5%
• By 2100: 12,936 · -68.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 24% Asian 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+35.0) · D 67.0% · R 32.0% · Other 1.1%
• 2008→2024 swing: +0.2pp no change · 2008: 34.7pp · 2024: 35.0pp
• All cycles: 2024: D+35.0 2020: D+40.0 2016: D+36.4 2012: D+42.7 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.75%
• Current HPI: 52.6126
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-37.3% since first listed

5 events — show timeline

• 2026-04-19 Pending — Greenville Area MLS
• 2026-03-26 Listed $25,000 Greenville Area MLS
• 2025-05-23 Listed $45,500 Greenville Area MLS
• 2021-05-28 Sold (MLS) — Greenville Area MLS
• 2020-07-21 Listed $39,900 Greenville Area MLS

Property tax history

+5.7%/yr

Latest (2025): $1,250 · +5.2% YoY. Source: county tax records.