1003 Forest View Cv

Hickory Flat, MS 38633

$139,900D

2 bd · 1.0 ba · 1,344 sqft · Built 1993 · SingleFamily · Pending · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,103/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$138
• HOA: −$93
• Vac / Maint / Mgmt: −$232
• Net cashflow: $-93/mo
• Annual: $-1,116/yr
• Cap rate: 5.50%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• 1% rule: 0.79%
• Cash to close: $39,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (21.1% below list).
• It's been on market 101 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (21.1% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($967 loan paydown + $8k appreciation (5.5% local appreciation)).
• Location reads 67/100 on livability (#81 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Union County School District (rural): math 54% / reading 48% proficiency, ranked #13 of 130 in MS (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 17 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 17y 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.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.