40 Burborne St · Hattiesburg, MS 39425

$118,000

2 bd · 1.0 ba · 844 sqft · SingleFamily public records · 61 Days on market

Built 1951 10,454 sqft lot

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Why this score? — see what drove the D 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 +9.8/30.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.1/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0

Listing remarks MLS

Welcome to 40 Burborne Street in Brooklyn, Mississippi! This charming 2-bedroom, 1-bath home offers a cozy 955 square feet of living space, perfect for first-time buyers or anyone seeking an affordable home in Mississippi. Enjoy your mornings on the inviting front porch swing and relax in the fenced backyard, ideal for pets or outdoor gatherings. This home is conveniently located less than a mile from the South Forrest Attendance Center and about 26 miles from North Forrest High School, making it a great choice for those who value proximity to schools. Plus, it's just a 30-minute drive to Hattiesburg and under an hour from the Gulf Coast cities of Gulfport and Biloxi, giving you easy access to both local amenities and coastal attractions. Don't miss out on this fantastic opportunity!

Key facts

• Front porch swing
• Fenced backyard
• Conveniently located

Tags

• FRONT PORCH SWING
• FENCED BACKYARD
• CONVENIENTLY LOCATED
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Finance

• Other: Property type zoned for single-family residence; Living area per public records: 955 (source: public records)

Exterior

• Parking: Detached carport (1 space total)
• Security: Dead bolt locks
• Utilities: Public sewer; Community water; Electricity connected; Sewer connected; Water connected
• Home design: Single-family house; One story; Updated/remodeled; Raised foundation; Facing direction not provided; Entry level not provided
• Construction: Wood siding; Shingle roof; Raised foundation; Year built not provided
• Exterior features: Enclosed patio/porch; Front porch; Rear porch; Outdoor lighting; Private yard; Front yard; Open lot

Interior

• Kitchen: Dishwasher; Exhaust fan; Free-standing electric range
• Bedrooms: Bedroom information not provided
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Laminate counters; Dead bolt locks
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $-75 ($-899/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (32.2% below list).
• Recommended offer: $80k (32.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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.

Location & tenants

• 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.
• Market conditions: 20 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($816 loan paydown + $6k appreciation (5.3% local appreciation)).
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,000 (32.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.68% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.74×
• Total profit: $24,490
• Equity at exit: $69,123

10-year hold

• IRR: 12.5%
• Equity multiple: 3.33×
• Total profit: $77,122
• Equity at exit: $121,203

Cash invested: $33,040 (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 39425

• Home prices YoY: 3.5%
• Active inventory: 20
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $-75

Break-even live

Break-even rent $895

Max offer price $104,765

Occupancy floor —

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Clayton Dennis Rd Unit 103 Brooklyn, MS	1.0	1.0	900	$800	$0.89	21d	1	1.48mi

Listing history 6 events

1. 2026-05-21
   status Active 794-char remark

   Show marketing remark (794 chars)

   Welcome to 40 Burborne Street in Brooklyn, Mississippi! This charming 2-bedroom, 1-bath home offers a cozy 955 square feet of living space, perfect for first-time buyers or anyone seeking an affordable home in Mississippi. Enjoy your mornings on the inviting front porch swing and relax in the fenced backyard, ideal for pets or outdoor gatherings. This home is conveniently located less than a mile from the South Forrest Attendance Center and about 26 miles from North Forrest High School, making it a great choice for those who value proximity to schools. Plus, it's just a 30-minute drive to Hattiesburg and under an hour from the Gulf Coast cities of Gulfport and Biloxi, giving you easy access to both local amenities and coastal attractions. Don't miss out on this fantastic opportunity!

2. 2026-05-05
   status Pending 794-char remark

   Show marketing remark (794 chars)

   Welcome to 40 Burborne Street in Brooklyn, Mississippi! This charming 2-bedroom, 1-bath home offers a cozy 955 square feet of living space, perfect for first-time buyers or anyone seeking an affordable home in Mississippi. Enjoy your mornings on the inviting front porch swing and relax in the fenced backyard, ideal for pets or outdoor gatherings. This home is conveniently located less than a mile from the South Forrest Attendance Center and about 26 miles from North Forrest High School, making it a great choice for those who value proximity to schools. Plus, it's just a 30-minute drive to Hattiesburg and under an hour from the Gulf Coast cities of Gulfport and Biloxi, giving you easy access to both local amenities and coastal attractions. Don't miss out on this fantastic opportunity!

3. 2026-05-05
   status Pending

   Show marketing remark (794 chars)

   Welcome to 40 Burborne Street in Brooklyn, Mississippi! This charming 2-bedroom, 1-bath home offers a cozy 955 square feet of living space, perfect for first-time buyers or anyone seeking an affordable home in Mississippi. Enjoy your mornings on the inviting front porch swing and relax in the fenced backyard, ideal for pets or outdoor gatherings. This home is conveniently located less than a mile from the South Forrest Attendance Center and about 26 miles from North Forrest High School, making it a great choice for those who value proximity to schools. Plus, it's just a 30-minute drive to Hattiesburg and under an hour from the Gulf Coast cities of Gulfport and Biloxi, giving you easy access to both local amenities and coastal attractions. Don't miss out on this fantastic opportunity!

4. 2026-03-05
   listed $118,000 Active 794-char remark

   Show marketing remark (794 chars)

   Welcome to 40 Burborne Street in Brooklyn, Mississippi! This charming 2-bedroom, 1-bath home offers a cozy 955 square feet of living space, perfect for first-time buyers or anyone seeking an affordable home in Mississippi. Enjoy your mornings on the inviting front porch swing and relax in the fenced backyard, ideal for pets or outdoor gatherings. This home is conveniently located less than a mile from the South Forrest Attendance Center and about 26 miles from North Forrest High School, making it a great choice for those who value proximity to schools. Plus, it's just a 30-minute drive to Hattiesburg and under an hour from the Gulf Coast cities of Gulfport and Biloxi, giving you easy access to both local amenities and coastal attractions. Don't miss out on this fantastic opportunity!

5. 2026-03-05
   listed $118,000 Active

   Show marketing remark (794 chars)

   Welcome to 40 Burborne Street in Brooklyn, Mississippi! This charming 2-bedroom, 1-bath home offers a cozy 955 square feet of living space, perfect for first-time buyers or anyone seeking an affordable home in Mississippi. Enjoy your mornings on the inviting front porch swing and relax in the fenced backyard, ideal for pets or outdoor gatherings. This home is conveniently located less than a mile from the South Forrest Attendance Center and about 26 miles from North Forrest High School, making it a great choice for those who value proximity to schools. Plus, it's just a 30-minute drive to Hattiesburg and under an hour from the Gulf Coast cities of Gulfport and Biloxi, giving you easy access to both local amenities and coastal attractions. Don't miss out on this fantastic opportunity!

6. 2024-04-15
   soldstatus

ⓘ 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: $467 · $39/mo
• Projected year-2 tax: $932 · $78/mo
• Expected delta: +$465/yr (+$39/mo · 99.5%)

ⓘ 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 ≥107°F today · 21 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: $9,600
• − Mortgage interest: −$6,610
• − Property taxes: −$467
• − Insurance: −$590
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$3,433
• Taxable loss: −$3,036
• Est. tax savings @ 24.0%: +$729
• After-tax cash flow: $-170/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: Forrest County School District
• NCES district ID: 2801490
• Math proficiency: 39% ▼ -7.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $39,597
• Composite: 31.45/100
• National rank: #5980
• State rank: #47 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 87,151
• Population (ZIP): 2,458

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 2%
• Common ancestry: Serbian 16% Lithuanian 3%
• Foreign-born: 1%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.31%
• Current HPI: 156.1748
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

6 events — show timeline

• 2026-05-21 Relisted — HAAR
• 2026-05-05 Pending — HAAR
• 2026-05-05 Pending — MLSU
• 2026-03-05 Listed $118,000 MLSU
• 2026-03-05 Listed $118,000 HAAR
• 2024-04-15 Sold (Public Records) — Public Records

Property tax history

+3.2%/yr

Latest (2025): $467 · +23.3% YoY. Source: county tax records.