438 Clubhouse Dr · Pearl, MS 39208

$275,900

3 bd · 2.0 ba · 1,976 sqft · SingleFamily public records · 200 Days on market

Built 2005 $140/sqft · 9% below area Est $312k · 11% under

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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 +16.2/30.0
• ARV discount +12.7/15.0
• DSCR +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Do you like to Golf? If so check out this beauty that backs up to the driving range, with a few steps out your back door you can be brushing up on your drives. This spacious 3 bedroom 2 bath with a large bonus room, which could be used as a 4th bedroom or a man cave has so many amenities to offer. A large open living room with high ceilings and built ins. Formal dining room has so much character with two built in china cabinets and large window for an open and airy feel. Kitchen has just got a new face lift with a new drop in induction range, fresh paint, new hardware, new sink and faucet. Large primary suite with corner tub and separate shower and wallk in closet. Set up your showing today, your clients will love all the space and it is budget friendly.

Key facts

• Private backyard
• Driving range view
• Built 2005

Tags

• PRIVATE BACKYARD
• DRIVING RANGE VIEW

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $276k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/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 $238k (13.7% below list).
• Recommended offer: $238k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.5% in Pearl — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 73/100 on livability (#19 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Pearl Public School District (suburban): math 44% / reading 42% proficiency, ranked #32 of 130 in MS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 265 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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: severe wind risk, 80% 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 $238,157 (13.7% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.31%
• DSCR: 1.10
• GRM: 9.7

CMA / ARV

• ARV (median comp): $311,620
• List price: $275,900
• Delta: -11.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 Clubview Cir	0.12mi	4/2.0 (+1)	1,983 (+0%)	2mo	$332,999	$168	87
121 Lake Pointe Dr	0.16mi	4/2.5 (+1)	2,160 (+9%)	0mo	$365,000	$169	69
518 Westfield Dr	0.42mi	3/2.0	1,780 (-10%)	1mo	$299,775	$168	63
530 Planters Dr	0.28mi	3/2.0	1,709 (-14%)	4mo	$272,500	$159	61
575 Patrick Farms Dr	0.67mi	4/2.0 (+1)	1,950 (-1%)	4mo	$319,999	$164	58
425 Patrick Farms	0.52mi	4/2.0 (+1)	1,800 (-9%)	1mo	$279,900	$156	55
562 Patrick Farms Dr	0.66mi	3/2.0	1,807 (-9%)	2mo	$307,200	$170	54
571 Patrick Farms Dr	0.67mi	3/2.0	1,810 (-8%)	3mo	$299,999	$166	52
563 Patrick Farms Dr	0.67mi	3/2.0	1,810 (-8%)	3mo	$299,999	$166	52
539 Patrick Farms Dr	0.67mi	3/2.5	1,804 (-9%)	2mo	$308,000	$171	51
542 Patrick Farms Dr	0.66mi	4/2.0 (+1)	1,810 (-8%)	4mo	$299,999	$166	47
537 Patrick Farms Dr	0.67mi	4/3.0 (+1)	1,818 (-8%)	1mo	$309,900	$170	46

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 · 6.34% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.65×
• Total profit: $-27,037
• Equity at exit: $41,138

10-year hold

• IRR: 3.9%
• Equity multiple: 1.32×
• Total profit: $24,718
• Equity at exit: $23,855

Cash invested: $77,252 (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 39208

• Home prices YoY: -20.3%
• Rents YoY: 6.3%
• Active inventory: 265
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,382 medium
• Mortgage (P&I): −$1,447
• Tax from tax record: −$171 /mo · $2,051/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $149

Break-even live

Break-even rent $2,193

Max offer price $275,900

Occupancy floor 89%

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: $68,975
• Closing costs: $8,277
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
548 Patrick Farms Dr Pearl, MS	4.0	2.0	1850	$2,800	$1.51	13d	1	0.62mi
573 Patrick Farms Dr Pearl, MS	3.0	2.0	1910	$2,700	$1.41	13d	1	0.63mi
563 Patrick Farms Dr Pearl, MS	3.0	2.0	1810	$2,387	$1.32	13d	1	0.88mi
571 Patrick Farms Dr Pearl, MS	3.0	2.0	1810	$2,387	$1.32	13d	1	0.94mi

Listing history 14 events

1. 2026-06-03
   days on market $275,900 Active 200 DOM
2. 2026-06-02
   days on market $275,900 Active 199 DOM
3. 2026-06-01
   days on market $275,900 Active 198 DOM
4. 2026-05-31
   days on market $275,900 Active 197 DOM
5. 2026-05-30
   days on market $275,900 Active 196 DOM
6. 2026-02-20
   soldstatus Closed 774-char remark

   Show marketing remark (774 chars)

   Do you like to Golf? If so check out this beauty that backs up to the driving range, with a few steps out your back door you can be brushing up on your drives. This spacious 3 bedroom 2 bath with a large bonus room, which could be used as a 4th bedroom or a man cave has so many amenities to offer. A large open living room with high ceilings and built ins. Formal dining room has so much character with two built in china cabinets and large window for an open and airy feel. Kitchen has just got a new face lift with a new drop in induction range, fresh paint, new hardware, new sink and faucet. Large primary suite with corner tub and separate shower and wallk in closet. Set up your showing today, your clients will love all the space and it is budget friendly.

7. 2026-02-20
   soldstatus

   Show marketing remark (774 chars)

   Do you like to Golf? If so check out this beauty that backs up to the driving range, with a few steps out your back door you can be brushing up on your drives. This spacious 3 bedroom 2 bath with a large bonus room, which could be used as a 4th bedroom or a man cave has so many amenities to offer. A large open living room with high ceilings and built ins. Formal dining room has so much character with two built in china cabinets and large window for an open and airy feel. Kitchen has just got a new face lift with a new drop in induction range, fresh paint, new hardware, new sink and faucet. Large primary suite with corner tub and separate shower and wallk in closet. Set up your showing today, your clients will love all the space and it is budget friendly.

8. 2026-02-01
   status Pending 774-char remark

   Show marketing remark (774 chars)

   Do you like to Golf? If so check out this beauty that backs up to the driving range, with a few steps out your back door you can be brushing up on your drives. This spacious 3 bedroom 2 bath with a large bonus room, which could be used as a 4th bedroom or a man cave has so many amenities to offer. A large open living room with high ceilings and built ins. Formal dining room has so much character with two built in china cabinets and large window for an open and airy feel. Kitchen has just got a new face lift with a new drop in induction range, fresh paint, new hardware, new sink and faucet. Large primary suite with corner tub and separate shower and wallk in closet. Set up your showing today, your clients will love all the space and it is budget friendly.

9. 2026-01-21
   listed $284,900 Active 774-char remark

   Show marketing remark (774 chars)

   Do you like to Golf? If so check out this beauty that backs up to the driving range, with a few steps out your back door you can be brushing up on your drives. This spacious 3 bedroom 2 bath with a large bonus room, which could be used as a 4th bedroom or a man cave has so many amenities to offer. A large open living room with high ceilings and built ins. Formal dining room has so much character with two built in china cabinets and large window for an open and airy feel. Kitchen has just got a new face lift with a new drop in induction range, fresh paint, new hardware, new sink and faucet. Large primary suite with corner tub and separate shower and wallk in closet. Set up your showing today, your clients will love all the space and it is budget friendly.

10. 2025-11-15
    listed $275,900 Active 752-char remark

    Show marketing remark (752 chars)

    For Sale by Owner Beautiful 3 Bedroom Home on Patrick Farms Golf Course Welcome home to this spacious and well-maintained 3 bedroom, 2 bath home with a bonus room located in the desirable Patrick Farms community. This home offers a large living room, formal dining area, and a generously sized master bedroomperfect for relaxing or entertaining guests. The oversized laundry and pantry area provide plenty of storage and everyday convenience. Step outside to your private backyard overlooking the driving range of Patrick Farms Golf Course a peaceful view youll enjoy year-round. This house is located in the A+ Pearl School District! We will provide a 2% buyers agent fee for realtors! More pictures coming soon! Text me if you want them sooner!

11. 2021-10-05
    soldstatus
12. 2008-07-31
    soldstatus
13. 2008-04-25
    listed $197,000
14. 2005-04-08
    soldstatus

ⓘ 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: $2,051 · $171/mo
• Projected year-2 tax: $2,180 · $182/mo
• Expected delta: +$128/yr (+$11/mo · 6.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $28,579
• − Mortgage interest: −$15,455
• − Property taxes: −$2,051
• − Insurance: −$1,380
• − Repairs & maintenance: −$2,286
• − Management: −$2,286
• − Depreciation: −$8,026
• Taxable loss: −$2,905
• Est. tax savings @ 24.0%: +$697
• After-tax cash flow: $2,482/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: Pearl Public School District
• NCES district ID: 2803520
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $42,525
• Composite: 36.29/100
• National rank: #4699
• State rank: #32 of 130 in MS

Livability — Pearl

• Score: 73/100
• State rank: #19
• US rank: #5662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pearl, MS
• County: Rankin County · 123,614 people
• City population: 34,442
• Metro: Jackson, MS
• Population (ZIP): 34,442
• Household income: $65,480
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1235.0

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 31% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Common ancestry: Italian 5% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.11%
• Current HPI: 193.0609
• Rent YoY: ▲ 6.34%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+44.6% since first listed

9 events — show timeline

• 2026-02-20 Sold (Public Records) — Public Records
• 2026-02-20 Sold (MLS) — MLSU
• 2026-02-01 Pending — MLSU
• 2026-01-21 Listed $284,900 MLSU
• 2025-11-15 Listed $275,900 ForSaleByOwner.com
• 2021-10-05 Sold (Public Records) — Public Records
• 2008-07-31 Sold (MLS) — MLSU
• 2008-04-25 Listed $197,000 MLSU
• 2005-04-08 Sold (Public Records) — Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,051 · -4.3% YoY. Source: county tax records.