2205 Walnut Dr · Corinth, MS 38834

$159,900

4 bd · 1.0 ba · 2,081 sqft · SingleFamily public records · 69 Days on market

Built 1980 0.46 ac lot ↓ 16% since listing

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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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the highly sought-after Tree Street neighborhood, this 4 bedroom, 2 bath home offers incredible potential and charm! The inviting layout features a spacious living area with a cozy fireplace, a deck perfect for entertaining, and a fenced backyard.

Key facts

• Spacious living area
• Cozy fireplace
• Fenced backyard

Tags

• SPACIOUS LIVING AREA
• COZY FIREPLACE
• DECK FOR ENTERTAINING
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $32 ($388/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 $125k (22.0% below list).
• Recommended offer: $125k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.7% in Corinth — 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 61/100 on livability (#187 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Corinth School District (town): math 35% / reading 36% proficiency, ranked #56 of 130 in MS (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corinth Elementary School (math 29% / reading 34%, grade F, #183 of 375 statewide, top 49%, 1,103 students, 100% FRL); Corinth Middle School (math 41% / reading 40%, grade F, #60 of 179 statewide, top 37%, 731 students, 100% FRL); Corinth High School (math 17% / reading 27%, grade F, #119 of 197 statewide, top 64%, 656 students, 100% FRL) — zoned schools average 100% FRL vs 56% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 194 active listings in the ZIP; 13 units permitted in Alcorn County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Alcorn County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,645 (22.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.78% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.87%
• DSCR: 1.04
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.47×
• Total profit: $-23,925
• Equity at exit: $23,842

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-18,485
• Equity at exit: $13,825

Cash invested: $44,772 (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 38834

• Active inventory: 194
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,246 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$47 /mo · $566/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $32

Break-even live

Break-even rent $1,205

Max offer price $159,900

Occupancy floor 92%

Sensitivity live

Price	-10% $123	-5% $78	+0% $32	+5% $-13	+10% $-58
Rent	-10% $-66	-5% $-17	+0% $32	+5% $82	+10% $131
Rate	-1.0pp $113	-0.5pp $73	base $32	+0.5pp $-9	+1.0pp $-51

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-01
   remarks 258-char remark
2. 2026-06-01
   listed $159,900 Pending 69 DOM

ⓘ 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: $566 · $47/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$697/yr (+$58/mo · 123.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $14,957
• − Mortgage interest: −$8,957
• − Property taxes: −$566
• − Insurance: −$800
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$4,652
• Taxable loss: −$2,410
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $967/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: Corinth School District
• NCES district ID: 2801260
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $31,709
• Composite: 29.02/100
• National rank: #6611
• State rank: #56 of 130 in MS

Livability — Corinth

• Score: 61/100
• State rank: #187
• US rank: #17369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corinth, MS
• City population: 27,146
• Population (ZIP): 27,146

Population outlook (Alcorn County) Hauer SSP2

• Today (2025): 38,392 people
• By 2030: 38,804 · +1.1%
• By 2040: 39,455 · +2.8%
• By 2050: 39,708 · +3.4%
• By 2075: 39,917 · +4.0%
• By 2100: 37,628 · -2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Alcorn

• 2024 margin: Solid R (+68.3) · D 15.4% · R 83.8%
• 2008→2024 swing: -24.4pp toward R · 2008: -44.0pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+63.5 2016: R+61.8 2012: R+51.6 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.19%
• Current HPI: 155.736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.8% since first listed

4 events — show timeline

• 2026-06-01 Pending — NEMSBD
• 2026-01-09 Price Changed $159,900 NEMSBD
• 2025-11-13 Listed $189,900 NEMSBD
• 2005-08-29 Sold (Public Records) — Public Records

Property tax history

+11.0%/yr

Latest (2025): $566 · +149.1% YoY. Source: county tax records.