246 Anderson Rd · Coldwater, MS 38618

$169,900

3 bd · 2.0 ba · 1,002 sqft · SingleFamily public records · 47 Days on market

Built 1945 7,840 sqft lot $170/sqft · 5% above area Est $193k · 12% under

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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).

• ARV discount +13.0/15.0
• Cash flow +12.6/30.0
• Appreciation +5.2/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +2.2/10.0

Listing remarks MLS

INVESTOR OPPORTUNITY! This 4 bed, 2 bath home is located on a corner lot, just a short drive from downtown Coldwater. Property will be ideal as s rental or for first-time buyer. House is a split plan and will be a great spot with the right improvements. Make an offer today!

Key facts

• Corner lot
• 7,840 sq ft lot
• Built 1945

Tags

• CORNER LOT
• SHORT DRIVE FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-23 ($-279/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (27.8% below list).
• Recommended offer: $123k (27.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#135 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Tate County School District (rural): math 28% / reading 27% proficiency, ranked #74 of 130 in MS (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 73 active listings in the ZIP; 114 units permitted in Tate County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $643 appreciation (0.4% local appreciation)).
• Tate County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,653 (27.8% 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 47 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.72% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 11.5

CMA / ARV

• ARV (median comp): $193,391
• List price: $169,900
• Delta: -12.15%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
787 Hill Rd	0.32mi	2/2.0 (-1)	1,014 (+1%)	9mo	$145,999	$144	70

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

Projected returns pro-forma

0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.93×
• Total profit: $-3,499
• Equity at exit: $52,574

10-year hold

• IRR: 3.8%
• Equity multiple: 1.43×
• Total profit: $20,453
• Equity at exit: $65,843

Cash invested: $47,572 (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 38618

• Home prices YoY: 0.2%
• Active inventory: 73
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$30 /mo · $365/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-23

Break-even live

Break-even rent $1,256

Max offer price $165,792

Occupancy floor 97%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-03
   listed $169,900 Active 274-char remark

   Show marketing remark (274 chars)

   INVESTOR OPPORTUNITY! This 4 bed, 2 bath home is located on a corner lot, just a short drive from downtown Coldwater. Property will be ideal as s rental or for first-time buyer. House is a split plan and will be a great spot with the right improvements. Make an offer today!

2. 2022-11-09
   soldstatus
3. 2022-11-04
   soldstatus Closed 52-char remark

   Show marketing remark (52 chars)

   Great starter home. Home has been completely redone.

4. 2022-05-25
   status Pending 52-char remark

   Show marketing remark (52 chars)

   Great starter home. Home has been completely redone.

5. 2022-05-09
   listed $149,000 Active 52-char remark

   Show marketing remark (52 chars)

   Great starter home. Home has been completely redone.

6. 2015-05-11
   soldstatus
7. 2015-05-06
   soldstatus
8. 2015-02-09
   listed $18,000
9. 2015-02-03
   historical
10. 2014-04-03
    listed $18,000
11. 1970-03-04
    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: $365 · $30/mo
• Projected year-2 tax: $1,342 · $112/mo
• Expected delta: +$977/yr (+$81/mo · 267.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,718
• − Mortgage interest: −$9,517
• − Property taxes: −$365
• − Insurance: −$850
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$4,943
• Taxable loss: −$3,311
• Est. tax savings @ 24.0%: +$795
• After-tax cash flow: $516/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: Tate County School District
• NCES district ID: 2804230
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $41,975
• Composite: 23.38/100
• National rank: #7903
• State rank: #74 of 130 in MS

Livability — Coldwater

• Score: 64/100
• State rank: #135
• US rank: #14532

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,022

Population outlook (Tate County) Hauer SSP2

• Today (2025): 27,577 people
• By 2030: 26,872 · -2.6%
• By 2040: 25,319 · -8.2%
• By 2050: 23,590 · -14.5%
• By 2075: 19,500 · -29.3%
• By 2100: 15,468 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 31% Hispanic / Latino 6% Two or more races 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Tate

• 2024 margin: Solid R (+43.8) · D 27.6% · R 71.4%
• 2008→2024 swing: -22.8pp toward R · 2008: -20.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+34.5 2016: R+31.4 2012: R+18.4 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.38%
• Current HPI: 240.3401
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+843.9% since first listed

11 events — show timeline

• 2026-04-03 Listed $169,900 MLSU
• 2022-11-09 Sold (Public Records) — Public Records
• 2022-11-04 Sold (MLS) — MLSU
• 2022-05-25 Pending — MLSU
• 2022-05-09 Listed $149,000 MLSU
• 2015-05-11 Sold (Public Records) — Public Records
• 2015-05-06 Sold (MLS) — MLSU
• 2015-02-09 Listed $18,000 MLSU
• 2015-02-03 Listing Removed — MLSU
• 2014-04-03 Listed $18,000 MLSU
• 1970-03-04 Sold (Public Records) — Public Records

Property tax history

-6.3%/yr

Latest (2025): $365 · +11.9% YoY. Source: county tax records.