106 Devlin Dr · Madison, MS 39110

$279,900

4 bd · 4.0 ba · 1,836 sqft · SingleFamily public records · 9 Days on market

Built 2006 0.27 ac lot Est $327k · 14% under $20/mo HOA · 1% of rent

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Why this score? — see what drove the C+ 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 +22.1/30.0
• ARV discount +14.0/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Madison Beauty qualifies for 100% financing on USDA loan!! Very affordable & "hard to find" 4 bedroom home in good condition under $190,000. Offers Open Living areas with wood floors & Fireplace in Den plus Ceramic tile floors & c'tops in Kitchen/Dining Rm.....with breakfast bar too. Stainless appliances & built-in corner china cabinet in Dining. Split Bedroom plan with Master suite to rear of living areas. Ceiling fan,spacious bedroom plus super Master Bath with long double vanity,whirlpool tub,separate shower,ceramic tile,private water closet & 2 large walk-in closets. Front & rear covered porches,big fenced in yard with lots of privacy.And of course...superior school system...perfect family home!!!

Key facts

• Open living areas
• Stainless appliances
• High definition lvt

Tags

• OPEN LIVING AREAS
• HIGH DEFINITION LVT
• FIREPLACE IN DEN
• CERAMIC TILE FLOORS
• BREAKFAST BAR
• STAINLESS APPLIANCES

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $240 (includes grounds maintenance and management); Community features: Other

Exterior

• Parking: Attached garage with garage door opener and storage (2 cars total)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Single family residence (house); One level
• Construction: Brick construction; Asphalt shingle roof; Slab foundation; Built information provided by owner
• Exterior features: Private yard; Patio (slab); Back yard wood fencing

Interior

• Kitchen: Dishwasher; Disposal; Exhaust fan; Free-standing electric oven; Microwave; Oven
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air; Ceiling fan(s)
• Interior features: High ceilings; Entrance foyer; Pantry; Storage; Walk-in closet(s); Double vanity; Soaking tub
• Laundry & utility: Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (1.0% below list).
• Recommended offer: $277k (1.0% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.7% in Madison — 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 81/100 on livability (#4 in MS, #1,556 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mannsdale Elementary (633 students, 100% FRL); Germantown Middle School (math 55% / reading 58%, grade B, #14 of 179 statewide, top 7%, 1,008 students, 100% FRL); Germantown High School (math 34% / reading 41%, grade F, #59 of 197 statewide, top 30%, 1,396 students, 100% FRL) — zoned schools average 100% FRL vs 29% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 634 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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: major wind risk, 69% 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 $277,188 (1.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.99% ✗
• Cap rate: 8.23%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $326,808
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Devlin Dr	0.13mi	3/2.0 (-1)	1,760 (-4%)	7mo	$259,900	$148	68
117 S Branch St	0.18mi	3/2.0 (-1)	1,723 (-6%)	1mo	$285,000	$165	68
135 Devlin Springs Dr	0.26mi	3/2.0 (-1)	1,739 (-5%)	4mo	$275,000	$158	63
137 Camden Xing	0.47mi	3/2.0 (-1)	1,836 (0%)	4mo	$343,000	$187	62
167 Brisco St	0.40mi	4/2.0	1,966 (+7%)	3mo	$370,000	$188	59
110 Brisco St	0.38mi	3/2.0 (-1)	1,964 (+7%)	2mo	$365,000	$186	56
103 Quarles Dr	0.58mi	3/2.0 (-1)	1,906 (+4%)	3mo	$339,999	$178	51
131 Devlin Springs Dr	0.28mi	3/2.0 (-1)	1,609 (-12%)	4mo	$255,000	$158	50
169 Shore View Dr	0.75mi	3/2.5 (-1)	1,860 (+1%)	3mo	$393,000	$211	50
136 Savoy Park Park	0.67mi	3/2.0 (-1)	1,909 (+4%)	4mo	$325,000	$170	45
175 Shore View Dr	0.75mi	3/2.0 (-1)	1,906 (+4%)	1mo	$394,900	$207	45
124 Savoy Park	0.74mi	4/2.0	1,925 (+5%)	6mo	$319,000	$166	44

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

Projected returns pro-forma

-3.0% appreciation · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-17,669
• Equity at exit: $41,734

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $17,028
• Equity at exit: $24,201

Cash invested: $78,372 (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 39110

• Home prices YoY: -28.3%
• Rents YoY: 2.6%
• Active inventory: 634
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,772 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$132 /mo · $1,588/yr
• Insurance: −$117
• HOA: −$20
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $453

Break-even live

Break-even rent $2,199

Max offer price $279,900

Occupancy floor 79%

Sensitivity live

Price	-10% $611	-5% $532	+0% $453	+5% $374	+10% $295
Rent	-10% $234	-5% $343	+0% $453	+5% $562	+10% $672
Rate	-1.0pp $594	-0.5pp $524	base $453	+0.5pp $380	+1.0pp $307

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Mason Way Madison, MS	3.0	2.0	1614	$2,600	$1.61	45d	1	1.13mi

HOA detail

• Monthly dues: $20 · $240/yr
• Likely covers: waterpool

Listing history 17 events

1. 2026-04-20
   status Pending
2. 2026-04-14
   status Active
3. 2026-04-10
   status Pending
4. 2026-04-08
   listed $279,900 Active
5. 2021-10-08
   historical
6. 2017-08-01
   soldstatus 749-char remark

   Show marketing remark (749 chars)

   This Madison Beauty qualifies for 100% financing on USDA loan!! Very affordable & "hard to find" 4 bedroom home in good condition under $190,000. Offers Open Living areas with wood floors & Fireplace in Den plus Ceramic tile floors & c'tops in Kitchen/Dining Rm.....with breakfast bar too. Stainless appliances & built-in corner china cabinet in Dining. Split Bedroom plan with Master suite to rear of living areas. Ceiling fan,spacious bedroom plus super Master Bath with long double vanity,whirlpool tub,separate shower,ceramic tile,private water closet & 2 large walk-in closets. Front & rear covered porches,big fenced in yard with lots of privacy.And of course...superior school system...perfect family home!!!

7. 2017-06-14
   listed $189,950 749-char remark

   Show marketing remark (749 chars)

   This Madison Beauty qualifies for 100% financing on USDA loan!! Very affordable & "hard to find" 4 bedroom home in good condition under $190,000. Offers Open Living areas with wood floors & Fireplace in Den plus Ceramic tile floors & c'tops in Kitchen/Dining Rm.....with breakfast bar too. Stainless appliances & built-in corner china cabinet in Dining. Split Bedroom plan with Master suite to rear of living areas. Ceiling fan,spacious bedroom plus super Master Bath with long double vanity,whirlpool tub,separate shower,ceramic tile,private water closet & 2 large walk-in closets. Front & rear covered porches,big fenced in yard with lots of privacy.And of course...superior school system...perfect family home!!!

8. 2015-01-22
   historical
9. 2014-08-06
   listed $184,000
10. 2009-08-17
    soldstatus
11. 2009-08-17
    soldstatus
12. 2009-08-14
    soldstatus
13. 2009-01-07
    listed $189,900
14. 2008-07-11
    listed $193,900
15. 2006-06-05
    soldstatus
16. 2006-05-31
    soldstatus
17. 2006-01-30
    listed $191,000

ⓘ 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: $1,588 · $132/mo
• Projected year-2 tax: $2,211 · $184/mo
• Expected delta: +$623/yr (+$52/mo · 39.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,263
• − Mortgage interest: −$15,679
• − Property taxes: −$1,588
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,661
• − Management: −$2,661
• − HOA: −$240
• − Depreciation: −$8,143
• Taxable income: $891
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $5,222/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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Madison

• Score: 81/100
• State rank: #4
• US rank: #1556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Madison County · 75,005 people
• City population: 50,443
• Metro: Jackson, MS
• Population (ZIP): 50,443
• Household income: $125,506
• Rent vs Own: 9.1% rent · 90.9% own
• Severe rent burden: 227.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Asian 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.99%
• Current HPI: 154.6909
• Rent YoY: ▲ 2.61%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+46.5% since first listed

17 events — show timeline

• 2026-04-20 Pending — MLSU
• 2026-04-14 Relisted — MLSU
• 2026-04-10 Pending — MLSU
• 2026-04-08 Listed $279,900 MLSU
• 2021-10-08 Listing Removed — MLSU
• 2017-08-01 Sold (MLS) — MLSU
• 2017-06-14 Listed $189,950 MLSU
• 2015-01-22 Listing Removed — MLSU
• 2014-08-06 Listed $184,000 MLSU
• 2009-08-17 Sold (Public Records) — Public Records
• 2009-08-17 Sold (Public Records) — Public Records
• 2009-08-14 Sold (MLS) — MLSU
• 2009-01-07 Listed $189,900 MLSU
• 2008-07-11 Listed $193,900 MLSU
• 2006-06-05 Sold (Public Records) — Public Records
• 2006-05-31 Sold (MLS) — MLSU
• 2006-01-30 Listed $191,000 MLSU

Property tax history

-0.0%/yr

Latest (2025): $1,588 · +0.0% YoY. Source: county tax records.