1110 Luster · Greenville, MS 38701

$18,000

3 bd · 1.0 ba · 1,117 sqft · SingleFamily public records · 795 Days on market

Built 1969 6,250 sqft lot Est $25k · 27% under ↓ 45% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

To be sold as is condition! Great investment!! Call us and Start Packing!!!

Key facts

• 6,250 sq ft lot
• Built 1969
• Listed 795 days

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (traditional); Residential property
• Construction: Brick veneer and wood siding; Slab foundation
• Exterior features: Metal roof; Lot approximately 50 x 125; R-1 zoning

Interior

• Flooring: Concrete flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No central cooling
• Interior features: Gas water heater; Concrete and vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($869 rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 43.8% vs local median 4.5% in Greenville — 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 57/100 on livability (#284 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Greenville Public Schools (town): math 4% / reading 11% proficiency, ranked #126 of 130 in MS (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 93% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 128 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $124 of loan paydown is wiped out by about $540 of value loss. Plan a longer hold.
• Washington County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 795 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 37% 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 $15,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 795 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 4.83% ✓
• Cap rate: 43.79%
• Cash-on-cash: 133.92%
• DSCR: 6.96
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $24,574
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Saint Charles St	0.24mi	3/1.0	1,155 (+3%)	15mo	$24,900	$22	71
712 W Walthall St	0.43mi	3/1.0	1,000 (-10%)	14mo	$19,950	$20	51
115 Negus	0.66mi	2/1.0 (-1)	1,000 (-10%)	21mo	$40,000	$40	29

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: —
• Equity multiple: 7.53×
• Total profit: $32,920
• Equity at exit: $2,684

10-year hold

• IRR: —
• Equity multiple: 15.85×
• Total profit: $74,849
• Equity at exit: $1,556

Cash invested: $5,040 (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 38701

• Active inventory: 128
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $869 medium
• Mortgage (P&I): −$94
• Tax est. 1.5%: −$22 /mo · $270/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $562

Break-even live

Break-even rent $157

Max offer price $18,000

Occupancy floor 30%

Sensitivity live

Price	-10% $575	-5% $569	+0% $562	+5% $556	+10% $550
Rent	-10% $494	-5% $528	+0% $562	+5% $597	+10% $631
Rate	-1.0pp $572	-0.5pp $567	base $562	+0.5pp $558	+1.0pp $553

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
614 Fairview Ave Unit 7 Greenville, MS	2.0	1.0	950	$799	$0.84	44d	1	1.19mi
250 Cypress Ln Greenville, MS	1.0–2.0	1.0–1.5	807	$959	$1.19	44d	1	1.29mi

Listing history 16 events

1. 2026-06-12
   statusdays on market $18,000 Pending 795 DOM
2. 2026-06-09
   days on market $18,000 Active 793 DOM
3. 2026-06-08
   days on market $18,000 Active 792 DOM
4. 2026-06-07
   days on market $18,000 Active 791 DOM
5. 2026-06-04
   days on market $18,000 Active 787 DOM
6. 2026-06-02
   days on market $18,000 Active 786 DOM
7. 2026-06-01
   days on market $18,000 Active 785 DOM
8. 2026-05-31
   days on market $18,000 Active 784 DOM
9. 2026-05-18
   status Active
10. 2026-05-18
    price $18,000
11. 2026-04-23
    status Pending
12. 2026-03-11
    price $20,000
13. 2025-12-03
    price $23,000
14. 2025-10-22
    price $25,000
15. 2025-08-05
    price $28,000
16. 2024-03-13
    listed $33,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 37% 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: $10,433
• − Mortgage interest: −$1,008
• − Property taxes: −$270
• − Insurance: −$90
• − Repairs & maintenance: −$835
• − Management: −$835
• − Depreciation: −$524
• Taxable income: $6,872
• Est. tax owed @ 24.0%: −$1,649
• After-tax cash flow: $5,100/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: Greenville Public Schools
• NCES district ID: 2801620
• Math proficiency: 4% ▼ -20.00%
• Reading proficiency: 11% ▼ -12.00%
• Median HH income: $26,432
• Composite: 5.27/100
• National rank: #10035
• State rank: #126 of 130 in MS

Livability — Greenville

• Score: 57/100
• State rank: #284
• US rank: #21778

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, MS
• Population (ZIP): 21,260

Population outlook (Washington County) Hauer SSP2

• Today (2025): 41,424 people
• By 2030: 38,061 · -8.1%
• By 2040: 31,752 · -23.3%
• By 2050: 26,394 · -36.3%
• By 2075: 17,180 · -58.5%
• By 2100: 12,936 · -68.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 24% Asian 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+35.0) · D 67.0% · R 32.0% · Other 1.1%
• 2008→2024 swing: +0.2pp no change · 2008: 34.7pp · 2024: 35.0pp
• All cycles: 2024: D+35.0 2020: D+40.0 2016: D+36.4 2012: D+42.7 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.75%
• Current HPI: 52.6126
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-45.5% since first listed

8 events — show timeline

• 2026-05-18 Relisted — Greenville Area MLS
• 2026-05-18 Price Changed $18,000 Greenville Area MLS
• 2026-04-23 Pending — Greenville Area MLS
• 2026-03-11 Price Changed $20,000 Greenville Area MLS
• 2025-12-03 Price Changed $23,000 Greenville Area MLS
• 2025-10-22 Price Changed $25,000 Greenville Area MLS
• 2025-08-05 Price Changed $28,000 Greenville Area MLS
• 2024-03-13 Listed $33,000 Greenville Area MLS

Property tax history

+0.5%/yr

Latest (2025): $941 · +13.8% YoY. Source: county tax records.