203 S Binford Ave

Duck Hill, MS 38925

$129,900C-

6 bd · 2.0 ba · 3,221 sqft · Built — · SingleFamily · Active · 194 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,315/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $96/mo
• Annual: $1,148/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• 1% rule: 1.01%
• Cash to close: $36,372

Investor read

• This is a 6-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 194 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($898 loan paydown + $161 appreciation (0.1% local appreciation)).
• Location reads 58/100 on livability (#275 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety D+, schools F, amenities F.
• Market conditions: 8 active listings in the ZIP; 92 units permitted in Montgomery County in 2024 (82 in 5+ unit buildings).
• Montgomery County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/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 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.