505 9th Ave · Lumberton, MS 39455

$55,000

2 bd · 2.5 ba · 1,023 sqft · MultiFamily public records · 167 Days on market

Built 1965 $54/sqft · 34% below area Est $83k · 34% under

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Why this score? — see what drove the A 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Appreciation +8.6/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Investor special in Lumberton, MS! This solid 2BR/1.5BA property sits on an approx. 1-acre lot and was used for many years as a successful multi-family/rental setup. Built with a durable brick/block exterior and a metal roof, it offers a strong foundation for a value-add renovation perfect for a long-term rental, workforce housing, or a portfolio addition. The large lot provides plenty of room for parking, outdoor space, and future possibilities. If you're looking for a project with upside, this one is worth a look!

Key facts

• Metal roof
• Brick block exterior
• Large lot

Tags

• MULTI-FAMILY RENTAL SETUP
• BRICK BLOCK EXTERIOR
• METAL ROOF
• LARGE LOT
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath multifamily listed at $55k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($793 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.2% in Lumberton — 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 69/100 on livability (#53 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Lamar County School District (rural): math 48% / reading 46% proficiency, ranked #18 of 130 in MS (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 302 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 45 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($380 loan paydown + $4k appreciation (7.2% local appreciation)).
• Lamar County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 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 1965 — 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 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?
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 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: 1.44% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.41%
• DSCR: 1.77
• GRM: 5.8

CMA / ARV

• ARV (median comp): $82,891
• List price: $55,000
• Delta: -33.65%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

7.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.2%
• Equity multiple: 3.22×
• Total profit: $34,243
• Equity at exit: $38,946

10-year hold

• IRR: 29.2%
• Equity multiple: 6.77×
• Total profit: $88,872
• Equity at exit: $74,747

Cash invested: $15,400 (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 39455

• Home prices YoY: 3.7%
• Active inventory: 302
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $793 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$91 /mo · $1,097/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $223

Break-even live

Break-even rent $510

Max offer price $55,000

Occupancy floor 67%

Sensitivity live

Price	-10% $255	-5% $239	+0% $223	+5% $208	+10% $192
Rent	-10% $161	-5% $192	+0% $223	+5% $255	+10% $286
Rate	-1.0pp $251	-0.5pp $237	base $223	+0.5pp $209	+1.0pp $195

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 9th Ave Lumberton, MS	2.0	1.0	800	$750	$0.94	22d	1	0.28mi
408 E Main Ave Lumberton, MS	1.0–2.0	1.0	725	$949	$1.31	22d	1	0.92mi

Listing history 18 events

1. 2026-06-21
   days on market $55,000 Active 167 DOM
2. 2026-06-19
   days on market $55,000 Active 165 DOM
3. 2026-06-18
   days on market $55,000 Active 164 DOM
4. 2026-06-17
   days on market $55,000 Active 163 DOM
5. 2026-06-16
   days on market $55,000 Active 162 DOM
6. 2026-06-15
   days on market $55,000 Active 161 DOM
7. 2026-06-14
   days on market $55,000 Active 159 DOM
8. 2026-06-13
   days on market $55,000 Active 158 DOM
9. 2026-06-10
   days on market $55,000 Active 156 DOM
10. 2026-06-09
    days on market $55,000 Active 155 DOM
11. 2026-06-08
    days on market $55,000 Active 154 DOM
12. 2026-06-07
    days on market $55,000 Active 153 DOM
13. 2026-06-05
    days on market $55,000 Active 150 DOM
14. 2026-06-02
    days on market $55,000 Active 148 DOM
15. 2026-06-01
    days on market $55,000 Active 147 DOM
16. 2026-05-31
    days on market $55,000 Active 146 DOM
17. 2026-05-30
    days on market $55,000 Active 145 DOM
18. 2026-01-05
    listed $55,000 Active 521-char remark

    Show marketing remark (521 chars)

    Investor special in Lumberton, MS! This solid 2BR/1.5BA property sits on an approx. 1-acre lot and was used for many years as a successful multi-family/rental setup. Built with a durable brick/block exterior and a metal roof, it offers a strong foundation for a value-add renovation perfect for a long-term rental, workforce housing, or a portfolio addition. The large lot provides plenty of room for parking, outdoor space, and future possibilities. If you're looking for a project with upside, this one is worth a look!

ⓘ 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: $1,097 · $91/mo
• Projected year-2 tax: $1,097 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $9,511
• − Mortgage interest: −$3,081
• − Property taxes: −$1,097
• − Insurance: −$275
• − Repairs & maintenance: −$761
• − Management: −$761
• − Depreciation: −$1,600
• Taxable income: $1,937
• Est. tax owed @ 24.0%: −$465
• After-tax cash flow: $2,216/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: Lamar County School District
• NCES district ID: 2802400
• Math proficiency: 48% ▼ -13.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $54,742
• Composite: 40.77/100
• National rank: #3645
• State rank: #18 of 130 in MS

Livability — Lumberton

• Score: 69/100
• State rank: #53
• US rank: #8568

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lumberton, MS
• City population: 9,030
• Population (ZIP): 9,030

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 71,826 people
• By 2030: 77,309 · +7.6%
• By 2040: 87,733 · +22.1%
• By 2050: 97,289 · +35.5%
• By 2075: 115,347 · +60.6%
• By 2100: 125,601 · +74.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 15% Two or more races 3%
• Common ancestry: Lithuanian 5% Portuguese 2% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+48.8) · D 25.0% · R 73.8% · Other 1.3%
• 2008→2024 swing: +7.0pp toward D · 2008: -55.8pp · 2024: -48.8pp
• All cycles: 2024: R+48.8 2020: R+46.9 2016: R+55.6 2012: R+54.6 2008: R+55.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.23%
• Current HPI: 202.5728
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-05 Listed $55,000 HAAR

Property tax history

+2.1%/yr

Latest (2025): $1,097 · +2.7% YoY. Source: county tax records.