311 Walnut St · Summit, MS 39666

$99,250

3 bd · 2.0 ba · 1,218 sqft · SingleFamily public records · 277 Days on market

Built 1970 10,018 sqft lot Est $117k · 15% under

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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
• ARV discount +14.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a nice starter home in the heart of Summit MS? Well look no further due to 3 bedroom 2 bathroom move in ready bricked home is waiting on you. Home features ceramic tile floors throughout the home. Recently painted rooms and roof last replaced in 2016. Home sits on the corner of Walnut and Oak street. All kitchen appliances remain with the home.Schedule your showing today due to this property is priced to sell.

Key facts

• Modern upgrades
• Updated home
• Move in ready

Tags

• UPDATED HOME
• MODERN UPGRADES
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#172 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety C-, schools F, amenities F.
• Mccomb School District (town): math 15% / reading 16% proficiency, ranked #106 of 130 in MS (top 82%) — 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: 79 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $686 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pike County population projected at -14% 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $87,340 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 14.36%
• Cash-on-cash: 28.82%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $116,928
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 Baldwin St	0.58mi	4/2.0 (+1)	1,300 (+7%)	4mo	$125,000	$96	53
715 Holly St	0.55mi	3/1.0	1,140 (-6%)	10mo	$9,500	$8	52
509 Grant St	0.74mi	3/1.5	1,136 (-7%)	17mo	$67,500	$59	38
701 Hickory	0.64mi	4/2.0 (+1)	1,152 (-5%)	23mo	$124,500	$108	37
1030 Diane Cir	0.54mi	2/1.0 (-1)	1,400 (+15%)	5mo	$229,000	$164	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.1%
• Equity multiple: 1.95×
• Total profit: $26,401
• Equity at exit: $14,798

10-year hold

• IRR: 31.1%
• Equity multiple: 3.79×
• Total profit: $77,636
• Equity at exit: $8,581

Cash invested: $27,790 (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 39666

• Home prices YoY: -34.3%
• Active inventory: 79
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,619 medium
• Mortgage (P&I): −$520
• Tax from tax record: −$50 /mo · $595/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $667

Break-even live

Break-even rent $774

Max offer price $99,250

Occupancy floor 54%

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: $24,812
• Closing costs: $2,978
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $99,250 Active 277 DOM
2. 2026-06-17
   days on market $99,250 Active 276 DOM
3. 2026-06-16
   days on market $99,250 Active 275 DOM
4. 2026-06-15
   days on market $99,250 Active 274 DOM
5. 2026-06-13
   days on market $99,250 Active 272 DOM
6. 2026-06-12
   days on market $99,250 Active 271 DOM
7. 2026-06-09
   days on market $99,250 Active 268 DOM
8. 2026-06-08
   days on market $99,250 Active 267 DOM
9. 2026-06-07
   days on market $99,250 Active 266 DOM
10. 2026-06-07
    days on market $99,250 Active 265 DOM
11. 2026-06-04
    days on market $99,250 Active 262 DOM
12. 2026-06-03
    price $99,250 Active 261 DOM
13. 2026-06-02
    days on market $99,975 Active 261 DOM
14. 2026-06-01
    days on market $99,975 Active 260 DOM
15. 2026-05-31
    days on market $99,975 Active 259 DOM
16. 2026-04-20
    status Pending
17. 2026-04-02
    status Active
18. 2026-04-02
    price $99,975
19. 2026-03-31
    historical
20. 2025-12-22
    price $103,000
21. 2025-11-06
    price $109,500
22. 2025-04-30
    listed $115,000 Active
23. 2021-09-24
    soldstatus 425-char remark

    Show marketing remark (425 chars)

    Looking for a nice starter home in the heart of Summit MS? Well look no further due to 3 bedroom 2 bathroom move in ready bricked home is waiting on you. Home features ceramic tile floors throughout the home. Recently painted rooms and roof last replaced in 2016. Home sits on the corner of Walnut and Oak street. All kitchen appliances remain with the home.Schedule your showing today due to this property is priced to sell.

24. 2021-08-01
    listed $82,500 425-char remark

    Show marketing remark (425 chars)

    Looking for a nice starter home in the heart of Summit MS? Well look no further due to 3 bedroom 2 bathroom move in ready bricked home is waiting on you. Home features ceramic tile floors throughout the home. Recently painted rooms and roof last replaced in 2016. Home sits on the corner of Walnut and Oak street. All kitchen appliances remain with the home.Schedule your showing today due to this property is priced to sell.

25. 2014-09-25
    soldstatus 557-char remark

    Show marketing remark (557 chars)

    Nice 3 bedroom 2 full bath home, located on corner lot. Nice size living dining combo. This home located only minutes from Downtown Summit, near shopping and dining. This home is ideal for a first time home buyer. HUD owned property sold "AS IS" UI UNINSURED FHA Case number 281-334529, Seller will pay up to 3% in buyer closing cost & down payments as low as $100 if owner occupant purchase. Taxes listed are per tax assessor's web site. For information about bidding or to view this home, please call your realtor. Equal Housing opportunity.

26. 2014-06-03
    listed $29,700 557-char remark

    Show marketing remark (557 chars)

    Nice 3 bedroom 2 full bath home, located on corner lot. Nice size living dining combo. This home located only minutes from Downtown Summit, near shopping and dining. This home is ideal for a first time home buyer. HUD owned property sold "AS IS" UI UNINSURED FHA Case number 281-334529, Seller will pay up to 3% in buyer closing cost & down payments as low as $100 if owner occupant purchase. Taxes listed are per tax assessor's web site. For information about bidding or to view this home, please call your realtor. Equal Housing opportunity.

ⓘ 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: $595 · $50/mo
• Projected year-2 tax: $784 · $65/mo
• Expected delta: +$189/yr (+$16/mo · 31.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $19,425
• − Mortgage interest: −$5,560
• − Property taxes: −$595
• − Insurance: −$496
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$2,887
• Taxable income: $6,779
• Est. tax owed @ 24.0%: −$1,627
• After-tax cash flow: $6,382/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: Mccomb School District
• NCES district ID: 2802880
• Math proficiency: 15% ▼ -20.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $29,855
• Composite: 12.26/100
• National rank: #9645
• State rank: #106 of 130 in MS

Livability — Summit

• Score: 62/100
• State rank: #172
• US rank: #16320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, MS
• Population (ZIP): 11,985

Population outlook (Pike County) Hauer SSP2

• Today (2025): 38,766 people
• By 2030: 37,874 · -2.3%
• By 2040: 35,743 · -7.8%
• By 2050: 33,276 · -14.2%
• By 2075: 26,799 · -30.9%
• By 2100: 18,562 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 36% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 0% · China

Political lean MEDSL · Pike

• 2024 margin: Toss-up / Even · D 47.8% · R 51.3%
• 2008→2024 swing: -7.0pp toward R · 2008: 3.5pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+1.0 2016: R+0.7 2012: D+7.6 2008: D+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.48%
• Current HPI: 113.9026
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+236.6% since first listed

11 events — show timeline

• 2026-04-20 Pending — MLSU
• 2026-04-02 Relisted — MLSU
• 2026-04-02 Price Changed $99,975 MLSU
• 2026-03-31 Listing Removed — MLSU
• 2025-12-22 Price Changed $103,000 MLSU
• 2025-11-06 Price Changed $109,500 MLSU
• 2025-04-30 Listed $115,000 MLSU
• 2021-09-24 Sold (MLS) — MLSU
• 2021-08-01 Listed $82,500 MLSU
• 2014-09-25 Sold (MLS) — MLSU
• 2014-06-03 Listed $29,700 MLSU

Property tax history

-3.4%/yr

Latest (2025): $595 · +17.4% YoY. Source: county tax records.