205 Felker St · Booneville, MS 38829

$85,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 73 Days on market

Built 1963 0.30 ac lot $93/sqft · 69% above area

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income-producing opportunity in the heart of Booneville, MS! This well-maintained rental property is currently occupied, offering immediate cash flow for investors looking to expand their portfolio or step into real estate ownership with ease. Conveniently located within the city limits, the property provides easy access to local schools, shopping, and amenities, making it an attractive option for long-term tenants. Whether you're a seasoned investor or just getting started, this turnkey property delivers steady income with strong potential for continued growth.

Key facts

• 0.3 acre lot
• Built 1963
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#117 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Booneville School District (town): math 49% / reading 46% proficiency, ranked #24 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 11 units permitted in Prentiss County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Prentiss County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $12k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.18% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.15%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

• ARV (median comp): $50,206
• List price: $85,000
• Delta: 69.30%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $1,566
• Equity at exit: $12,674

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $21,091
• Equity at exit: $7,349

Cash invested: $23,800 (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 38829

• Active inventory: 142
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $241

Break-even live

Break-even rent $695

Max offer price $85,000

Occupancy floor 71%

Sensitivity live

Price	-10% $289	-5% $265	+0% $241	+5% $217	+10% $193
Rent	-10% $162	-5% $201	+0% $241	+5% $280	+10% $320
Rate	-1.0pp $284	-0.5pp $263	base $241	+0.5pp $219	+1.0pp $197

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Elm St Unit 1 Booneville, MS	2.0	1.0	1095	$1,000	$0.91	44d	1	0.88mi

Listing history 19 events

1. 2026-06-21
   days on market $85,000 Active 73 DOM
2. 2026-06-18
   days on market $85,000 Active 71 DOM
3. 2026-06-17
   days on market $85,000 Active 70 DOM
4. 2026-06-16
   days on market $85,000 Active 69 DOM
5. 2026-06-15
   days on market $85,000 Active 68 DOM
6. 2026-06-13
   days on market $85,000 Active 66 DOM
7. 2026-06-12
   days on market $85,000 Active 65 DOM
8. 2026-06-09
   days on market $85,000 Active 62 DOM
9. 2026-06-08
   days on market $85,000 Active 61 DOM
10. 2026-06-07
    days on market $85,000 Active 60 DOM
11. 2026-06-05
    days on market $85,000 Active 58 DOM
12. 2026-06-04
    days on market $85,000 Active 56 DOM
13. 2026-06-02
    days on market $85,000 Active 55 DOM
14. 2026-06-01
    price $85,000 Active 54 DOM
15. 2026-06-01
    days on market $97,000 Active 54 DOM
16. 2026-05-31
    days on market $97,000 Active 53 DOM
17. 2026-04-08
    listed $97,000 Active 568-char remark

    Show marketing remark (568 chars)

    Income-producing opportunity in the heart of Booneville, MS! This well-maintained rental property is currently occupied, offering immediate cash flow for investors looking to expand their portfolio or step into real estate ownership with ease. Conveniently located within the city limits, the property provides easy access to local schools, shopping, and amenities, making it an attractive option for long-term tenants. Whether you're a seasoned investor or just getting started, this turnkey property delivers steady income with strong potential for continued growth.

18. 2018-08-10
    soldstatus 129-char remark

    Show marketing remark (129 chars)

    GREAT STARTER HOME! Very neat, well maintained 3 bedroom, 1 bath home with large back yard, storage building and almost new CH/A.

19. 2018-03-28
    listed $50,000 129-char remark

    Show marketing remark (129 chars)

    GREAT STARTER HOME! Very neat, well maintained 3 bedroom, 1 bath home with large back yard, storage building and almost new CH/A.

ⓘ 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: $814 · $68/mo
• Projected year-2 tax: $814 · $68/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $12,000
• − Mortgage interest: −$4,761
• − Property taxes: −$814
• − Insurance: −$425
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,473
• Taxable income: $1,607
• Est. tax owed @ 24.0%: −$386
• After-tax cash flow: $2,506/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: Booneville School District
• NCES district ID: 2800820
• Math proficiency: 49% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $29,722
• Composite: 38.79/100
• National rank: #4120
• State rank: #24 of 130 in MS

Livability — Booneville

• Score: 65/100
• State rank: #117
• US rank: #13203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Booneville, MS
• City population: 18,036
• Population (ZIP): 18,036

Population outlook (Prentiss County) Hauer SSP2

• Today (2025): 25,348 people
• By 2030: 25,247 · -0.4%
• By 2040: 24,786 · -2.2%
• By 2050: 23,851 · -5.9%
• By 2075: 20,434 · -19.4%
• By 2100: 15,359 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 3% Asian 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · China, South Korea
• Languages at home: 97% English-only · Vietnamese 1% Tagalog/Filipino 1%

Political lean MEDSL · Prentiss

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.7%
• 2008→2024 swing: -23.2pp toward R · 2008: -42.8pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+58.3 2016: R+56.5 2012: R+42.4 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.50%
• Current HPI: 108.2429
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+94.0% since first listed

3 events — show timeline

• 2026-04-08 Listed $97,000 NEMSBD
• 2018-08-10 Sold (MLS) — NEMSBD
• 2018-03-28 Listed $50,000 NEMSBD

Property tax history

+20.9%/yr

Latest (2025): $814 · -2.6% YoY. Source: county tax records.