2 bd · 1.0 ba ·
1,098 sqft ·
Built 1954
· SingleFamily
· Active
· 150 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,108/mo
Mortgage (P&I)
−$79
Tax + insurance
−$25
HOA
−$0
Vac / Maint / Mgmt
−$233
Net cashflow
$772/mo
Annual
$9,264/yr
Cap rate
68.05%
Cash-on-cash
220.57%
DSCR
10.81
1% rule
7.39%
Cash to close
$4,200
Investor read
This is a 2-bed/1.0-bath single-family listed at $15k.
At list price, monthly cash flow is $772 ($9k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($1k rent vs $15k).
It's been on market 150 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
Location reads 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment F.
Forrest County School District (rural): math 39% / reading 36% proficiency, ranked #47 of 130 in MS (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: Rents rising fast (+6.6%/yr); 261 active listings in the ZIP; lower-income renter base — watch delinquency; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
2 sale attempts 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.
At projected returns (-3.0% appreciation + 6.6% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
Climate carrying-cost: major flood risk; severe wind risk, 99% 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.
Cap rate 68.1% vs local median 4.0% in Hattiesburg — 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.
This rent runs 32% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Questions for listing agent
It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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.
CashFlowRE · CFR-3Y1BEN9VRMQD2G
· Data 3 days agocashflowre.app · 2026-05-29