4024 Old Mill Rd

Osyka, MS 39657

$95,000B

3 bd · 1.0 ba · 1,600 sqft · Built 1935 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,126/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $233/mo
• Annual: $2,792/yr
• Cap rate: 9.23%
• Cash-on-cash: 10.50%
• DSCR: 1.47
• 1% rule: 1.18%
• Cash to close: $26,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $95k. Condition is rated poor.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 38 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($657 loan paydown + $6k appreciation (6.6% local appreciation)).
• Location reads 59/100 on livability (#258 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, housing D+, schools D.
• South Pike School District (rural): math 12% / reading 21% proficiency, ranked #105 of 130 in MS (top 81%) — 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.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 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 (6.6% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/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 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: overgrown vegetation — Vegetation and debris are present, indicating significant overgrowth and lack of maintenance.
• Major: landscaping — Vegetation and debris are present, indicating significant overgrowth and lack of maintenance.