115 Smith St · Petal, MS 39465

$200,000

5 bd · 1.0 ba · 1,728 sqft · SingleFamily public records · 140 Days on market

Built 1958 0.51 ac lot $116/sqft · at area comps Est $192k · at est.

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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 +17.6/30.0
• DSCR +5.5/10.0
• ARV discount +5.5/15.0
• Schools +5.3/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained single-family residence features 5 bedrooms and 2 full baths, offering comfortable living with flexible space. Two recently added bedrooms enhance the home's functionality, ideal for a growing household, guests, or home office use. The nicely sized kitchen supports everyday living and entertaining with ease. Outdoors, enjoy a dedicated bar area perfect for hosting or relaxing, along with a spacious backyard that offers room for recreation, pets, or future enhancements. A great opportunity to own a home that blends indoor comfort with inviting outdoor living.

Key facts

• Dedicated bar area
• Spacious backyard
• 0.51 acre lot

Tags

• DEDICATED BAR AREA
• SPACIOUS BACKYARD
• RECENTLY ADDED BEDROOMS

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $32 ($381/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (11.8% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.0% in Petal — 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 73/100 on livability (#18 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Petal School District (suburban): math 68% / reading 56% proficiency, ranked #2 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 228 active listings in the ZIP; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (median comp): $191,631
• List price: $200,000
• Delta: 4.37%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 Margaret Ave	0.56mi	4/2.0 (-1)	1,769 (+2%)	15mo	$220,000	$124	49
142 W 5th Ave	0.48mi	4/1.5 (-1)	1,525 (-12%)	13mo	$189,500	$124	40

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

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-30,373
• Equity at exit: $29,821

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-23,788
• Equity at exit: $17,292

Cash invested: $56,000 (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 39465

• Active inventory: 228
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,764 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$104 /mo · $1,253/yr
• Insurance: −$83
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $32

Break-even live

Break-even rent $1,724

Max offer price $200,000

Occupancy floor 93%

Sensitivity live

Price	-10% $145	-5% $88	+0% $32	+5% $-25	+10% $-81
Rent	-10% $-108	-5% $-38	+0% $32	+5% $101	+10% $171
Rate	-1.0pp $132	-0.5pp $83	base $32	+0.5pp $-20	+1.0pp $-73

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-05
   statusdays on market $200,000 Pending 140 DOM
2. 2026-06-02
   days on market $200,000 Active 138 DOM
3. 2026-06-01
   days on market $200,000 Active 137 DOM
4. 2026-05-31
   days on market $200,000 Active 136 DOM
5. 2026-05-30
   days on market $200,000 Active 135 DOM
6. 2026-05-18
   price $200,000 585-char remark

   Show marketing remark (585 chars)

   This well-maintained single-family residence features 5 bedrooms and 2 full baths, offering comfortable living with flexible space. Two recently added bedrooms enhance the home's functionality, ideal for a growing household, guests, or home office use. The nicely sized kitchen supports everyday living and entertaining with ease. Outdoors, enjoy a dedicated bar area perfect for hosting or relaxing, along with a spacious backyard that offers room for recreation, pets, or future enhancements. A great opportunity to own a home that blends indoor comfort with inviting outdoor living.

7. 2026-05-04
   price $210,000 585-char remark

   Show marketing remark (585 chars)

   This well-maintained single-family residence features 5 bedrooms and 2 full baths, offering comfortable living with flexible space. Two recently added bedrooms enhance the home's functionality, ideal for a growing household, guests, or home office use. The nicely sized kitchen supports everyday living and entertaining with ease. Outdoors, enjoy a dedicated bar area perfect for hosting or relaxing, along with a spacious backyard that offers room for recreation, pets, or future enhancements. A great opportunity to own a home that blends indoor comfort with inviting outdoor living.

8. 2026-03-26
   price $220,000 585-char remark

   Show marketing remark (585 chars)

   This well-maintained single-family residence features 5 bedrooms and 2 full baths, offering comfortable living with flexible space. Two recently added bedrooms enhance the home's functionality, ideal for a growing household, guests, or home office use. The nicely sized kitchen supports everyday living and entertaining with ease. Outdoors, enjoy a dedicated bar area perfect for hosting or relaxing, along with a spacious backyard that offers room for recreation, pets, or future enhancements. A great opportunity to own a home that blends indoor comfort with inviting outdoor living.

9. 2026-02-17
   price $230,000 585-char remark

   Show marketing remark (585 chars)

   This well-maintained single-family residence features 5 bedrooms and 2 full baths, offering comfortable living with flexible space. Two recently added bedrooms enhance the home's functionality, ideal for a growing household, guests, or home office use. The nicely sized kitchen supports everyday living and entertaining with ease. Outdoors, enjoy a dedicated bar area perfect for hosting or relaxing, along with a spacious backyard that offers room for recreation, pets, or future enhancements. A great opportunity to own a home that blends indoor comfort with inviting outdoor living.

10. 2026-01-15
    listed $240,000 Active 585-char remark

    Show marketing remark (585 chars)

    This well-maintained single-family residence features 5 bedrooms and 2 full baths, offering comfortable living with flexible space. Two recently added bedrooms enhance the home's functionality, ideal for a growing household, guests, or home office use. The nicely sized kitchen supports everyday living and entertaining with ease. Outdoors, enjoy a dedicated bar area perfect for hosting or relaxing, along with a spacious backyard that offers room for recreation, pets, or future enhancements. A great opportunity to own a home that blends indoor comfort with inviting outdoor living.

11. 2024-04-18
    soldstatus Closed 390-char remark

    Show marketing remark (390 chars)

    Charming 3 bed, 2 bath home in the coveted Petal School District. Nestled in the heart of downtown Petal, it combines comfort with a prime location. This cozy residence features a fenced backyard, ideal for outdoor entertainment, large open living room and kitchen, plus an additional living space that could be a home office or den. Don't miss the chance to make this your home sweet home!

12. 2024-03-11
    status Pending 390-char remark

    Show marketing remark (390 chars)

    Charming 3 bed, 2 bath home in the coveted Petal School District. Nestled in the heart of downtown Petal, it combines comfort with a prime location. This cozy residence features a fenced backyard, ideal for outdoor entertainment, large open living room and kitchen, plus an additional living space that could be a home office or den. Don't miss the chance to make this your home sweet home!

13. 2024-03-08
    status Active 390-char remark

    Show marketing remark (390 chars)

    Charming 3 bed, 2 bath home in the coveted Petal School District. Nestled in the heart of downtown Petal, it combines comfort with a prime location. This cozy residence features a fenced backyard, ideal for outdoor entertainment, large open living room and kitchen, plus an additional living space that could be a home office or den. Don't miss the chance to make this your home sweet home!

14. 2024-02-13
    status Pending 390-char remark

    Show marketing remark (390 chars)

    Charming 3 bed, 2 bath home in the coveted Petal School District. Nestled in the heart of downtown Petal, it combines comfort with a prime location. This cozy residence features a fenced backyard, ideal for outdoor entertainment, large open living room and kitchen, plus an additional living space that could be a home office or den. Don't miss the chance to make this your home sweet home!

15. 2024-01-14
    price $165,000 390-char remark

    Show marketing remark (390 chars)

    Charming 3 bed, 2 bath home in the coveted Petal School District. Nestled in the heart of downtown Petal, it combines comfort with a prime location. This cozy residence features a fenced backyard, ideal for outdoor entertainment, large open living room and kitchen, plus an additional living space that could be a home office or den. Don't miss the chance to make this your home sweet home!

16. 2023-11-17
    listed $175,000 Active 390-char remark

    Show marketing remark (390 chars)

    Charming 3 bed, 2 bath home in the coveted Petal School District. Nestled in the heart of downtown Petal, it combines comfort with a prime location. This cozy residence features a fenced backyard, ideal for outdoor entertainment, large open living room and kitchen, plus an additional living space that could be a home office or den. Don't miss the chance to make this your home sweet home!

ⓘ 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: $1,253 · $104/mo
• Projected year-2 tax: $1,580 · $132/mo
• Expected delta: +$327/yr (+$27/mo · 26.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $21,167
• − Mortgage interest: −$11,203
• − Property taxes: −$1,253
• − Insurance: −$2,502
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − Depreciation: −$5,818
• Taxable loss: −$2,996
• Est. tax savings @ 24.0%: +$719
• After-tax cash flow: $1,100/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: Petal School District
• NCES district ID: 2803530
• Math proficiency: 68% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $51,872
• Composite: 52.97/100
• National rank: #1526
• State rank: #2 of 130 in MS

Livability — Petal

• Score: 73/100
• State rank: #18
• US rank: #5565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petal, MS
• County: Forrest County · 65,413 people
• City population: 22,882
• Metro: Hattiesburg, MS
• Population (ZIP): 22,882
• Household income: $74,035
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 199.0

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 (81%)
• Race & ethnicity: White 81% Black 13% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -96.97%
• Current HPI: 158.6021
• Rent YoY: —
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+14.3% since first listed

11 events — show timeline

• 2026-05-18 Price Changed $200,000 HAAR
• 2026-05-04 Price Changed $210,000 HAAR
• 2026-03-26 Price Changed $220,000 HAAR
• 2026-02-17 Price Changed $230,000 HAAR
• 2026-01-15 Listed $240,000 HAAR
• 2024-04-18 Sold (MLS) — HAAR
• 2024-03-11 Pending — HAAR
• 2024-03-08 Relisted — HAAR
• 2024-02-13 Pending — HAAR
• 2024-01-14 Price Changed $165,000 HAAR
• 2023-11-17 Listed $175,000 HAAR

Property tax history

+4.2%/yr

Latest (2025): $1,253 · +41.8% YoY. Source: county tax records.