1604 Williams Dr · Leakesville, MS 39451

$225,000

3 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 7 Days on market

Built 1983 0.47 ac lot

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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 +23.7/30.0
• Appreciation +9.4/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

GREAT FAMILY HOME - OPEN FLOOR PLAN ALL NEW, COMPLETELY REMODELED. NEW FLOORING, NEW APPLIANCES, GRANITE, NEW CENTRAL HEAT/AIR, ROOF & REMODELED BATHS. PLUS A DOUBLE CAR GARAGE THAT IS HEAT & COOLED. COULD BE CONVERTED TO AN EXTENDED FAMILY DWELLING OR MAN CAVE/WORKSHOP.

Key facts

• Updated appliances
• Versatile space
• Updated flooring

Tags

• UPDATED FLOORING
• UPDATED APPLIANCES
• GRANITE COUNTERTOPS
• FENCED BACKYARD
• HEATED AND COOLED GARAGE
• VERSATILE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).

Location & tenants

• Location reads 65/100 on livability (#109 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D-, amenities F, commute F.
• Greene County School District (rural): math 28% / reading 34% proficiency, ranked #67 of 130 in MS (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 24 active listings in the ZIP; 2 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($2k loan paydown + $20k appreciation (8.8% local appreciation)).
• Greene County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.13%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $135,420
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32261 Highway 57	0.52mi	3/1.0	1,306 (+7%)	14mo	$99,500	$76	53
1607 Lackey St	0.56mi	3/1.5	1,170 (-4%)	18mo	$129,999	$111	50
1615 Lackey St	0.63mi	3/1.5	1,400 (+15%)	21mo	$155,000	$111	26

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

Projected returns pro-forma

8.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 3.10×
• Total profit: $132,226
• Equity at exit: $184,167

10-year hold

• IRR: 24.7%
• Equity multiple: 6.79×
• Total profit: $364,476
• Equity at exit: $378,963

Cash invested: $63,000 (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 39451

• Home prices YoY: 5.7%
• Active inventory: 24
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,277 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$98 /mo · $1,177/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $427

Break-even live

Break-even rent $1,736

Max offer price $225,000

Occupancy floor 76%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-25
   status Pending
2. 2026-04-17
   listed $225,000 Active
3. 2022-06-15
   soldstatus Closed 280-char remark

   Show marketing remark (280 chars)

   GREAT FAMILY HOME - OPEN FLOOR PLAN ALL NEW, COMPLETELY REMODELED. NEW FLOORING, NEW APPLIANCES, GRANITE, NEW CENTRAL HEAT/AIR, ROOF & REMODELED BATHS. PLUS A DOUBLE CAR GARAGE THAT IS HEAT & COOLED. COULD BE CONVERTED TO AN EXTENDED FAMILY DWELLING OR MAN CAVE/WORKSHOP.

4. 2022-05-09
   status Pending 280-char remark

   Show marketing remark (280 chars)

   GREAT FAMILY HOME - OPEN FLOOR PLAN ALL NEW, COMPLETELY REMODELED. NEW FLOORING, NEW APPLIANCES, GRANITE, NEW CENTRAL HEAT/AIR, ROOF & REMODELED BATHS. PLUS A DOUBLE CAR GARAGE THAT IS HEAT & COOLED. COULD BE CONVERTED TO AN EXTENDED FAMILY DWELLING OR MAN CAVE/WORKSHOP.

5. 2022-04-27
   price $159,000 280-char remark

   Show marketing remark (280 chars)

   GREAT FAMILY HOME - OPEN FLOOR PLAN ALL NEW, COMPLETELY REMODELED. NEW FLOORING, NEW APPLIANCES, GRANITE, NEW CENTRAL HEAT/AIR, ROOF & REMODELED BATHS. PLUS A DOUBLE CAR GARAGE THAT IS HEAT & COOLED. COULD BE CONVERTED TO AN EXTENDED FAMILY DWELLING OR MAN CAVE/WORKSHOP.

6. 2022-02-25
   listed $164,000 Active 280-char remark

   Show marketing remark (280 chars)

   GREAT FAMILY HOME - OPEN FLOOR PLAN ALL NEW, COMPLETELY REMODELED. NEW FLOORING, NEW APPLIANCES, GRANITE, NEW CENTRAL HEAT/AIR, ROOF & REMODELED BATHS. PLUS A DOUBLE CAR GARAGE THAT IS HEAT & COOLED. COULD BE CONVERTED TO AN EXTENDED FAMILY DWELLING OR MAN CAVE/WORKSHOP.

7. 2020-08-21
   soldstatus 322-char remark

   Show marketing remark (322 chars)

   Looking for a modern new home? This property has been remodeled from top to bottom and is ready for a new family. Over 1600 sqft with 3 bedrooms 2 baths. Huge living area with an open floor plan. All new appliances remain. A 16x22 man cave/she shed is included. Shed has it's on ac and electricity. Home warranty included!

8. 2020-05-18
   listed $125,000 322-char remark

   Show marketing remark (322 chars)

   Looking for a modern new home? This property has been remodeled from top to bottom and is ready for a new family. Over 1600 sqft with 3 bedrooms 2 baths. Huge living area with an open floor plan. All new appliances remain. A 16x22 man cave/she shed is included. Shed has it's on ac and electricity. Home warranty included!

9. 2019-11-22
   soldstatus
10. 2019-09-05
    listed $40,000

ⓘ 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: $1,177 · $98/mo
• Projected year-2 tax: $1,778 · $148/mo
• Expected delta: +$600/yr (+$50/mo · 51.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 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: $27,320
• − Mortgage interest: −$12,603
• − Property taxes: −$1,177
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,186
• − Management: −$2,186
• − Depreciation: −$6,545
• Taxable income: $1,498
• Est. tax owed @ 24.0%: −$359
• After-tax cash flow: $4,762/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: Greene County School District
• NCES district ID: 2801590
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $41,432
• Composite: 26.2/100
• National rank: #7264
• State rank: #67 of 130 in MS

Livability — Leakesville

• Score: 65/100
• State rank: #109
• US rank: #12647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leakesville, MS
• Population (ZIP): 7,957

Population outlook (Greene County) Hauer SSP2

• Today (2025): 12,029 people
• By 2030: 11,879 · -1.2%
• By 2040: 11,196 · -6.9%
• By 2050: 10,455 · -13.1%
• By 2075: 8,825 · -26.6%
• By 2100: 7,172 · -40.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 34% Two or more races 3% Native American 1%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+69.8) · D 14.8% · R 84.5%
• 2008→2024 swing: -18.0pp toward R · 2008: -51.7pp · 2024: -69.8pp
• All cycles: 2024: R+69.8 2020: R+65.8 2016: R+63.0 2012: R+54.1 2008: R+51.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.85%
• Current HPI: 165.5757
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+462.5% since first listed

10 events — show timeline

• 2026-04-25 Pending — MLSU
• 2026-04-17 Listed $225,000 MLSU
• 2022-06-15 Sold (MLS) — MLSU
• 2022-05-09 Pending — MLSU
• 2022-04-27 Price Changed $159,000 MLSU
• 2022-02-25 Listed $164,000 MLSU
• 2020-08-21 Sold (MLS) — MLSU
• 2020-05-18 Listed $125,000 MLSU
• 2019-11-22 Sold (MLS) — MLSU
• 2019-09-05 Listed $40,000 MLSU

Property tax history

+4.2%/yr

Latest (2025): $1,177 · +41.2% YoY. Source: county tax records.