None

Okolona, MS 38860

$9,950D+

2 bd · 2.0 ba · 1,704 sqft · Built 1940 · SingleFamily · Active · 784 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,202/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $751/mo
• Annual: $9,012/yr
• Cap rate: 111.97%
• Cash-on-cash: 377.41%
• DSCR: 17.79
• 1% rule: 12.08%
• Cash to close: $2,786

Investor read

• This is a 2-bed/2.0-bath single-family listed at $10k.
• At list price, monthly cash flow is $751 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 784 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• In year one you build about $32 of equity ($68 loan paydown + $-36 appreciation (-0.4% local appreciation)).
• Location reads 61/100 on livability (#191 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Okolona Separate School District (rural): math 24% / reading 17% proficiency, ranked #93 of 130 in MS (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Okolona Elementary School (math 22% / reading 12%, grade F, #259 of 375 statewide, top 71%, 229 students, 100% FRL); Okolona Middle School (math 22% / reading 17%, grade F, #118 of 179 statewide, top 66%, 124 students, 100% FRL).
• Watch-outs: flood insurance adds $125/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 7 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).
• Chickasaw County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 2y ago; this cycle's ask is 1709% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wind risk, 27% 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.

Questions for listing agent

• It's been on market 784 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.