232 County Road 1389 · Saltillo, MS 38866

$114,000

3 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 77 Days on market

Built 1980 1.00 ac lot $99/sqft · 31% below area Est $169k · 32% under

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Why this score? — see what drove the B 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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedrooms, 1 bathroom home in Saltillo School District! A new ROOF will be installed in the upcoming weeks! Conveniently located just minutes from Downtown Saltillo but tucked away with privacy. Sits on 1.30 (+/-) acres. All information is deemed reliable but subject to verification.

Key facts

• Privacy
• 1.30 acres
• New roof

Tags

• NEW ROOF
• SALTILLO SCHOOL DISTRICT
• MINUTES FROM DOWNTOWN SALTILLO
• 1.30 ACRES
• PRIVACY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $107k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#48 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Lee County School District (rural): math 37% / reading 35% proficiency, ranked #51 of 130 in MS (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 150 active listings in the ZIP; 154 units permitted in Lee County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lee County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $36k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $114k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.46%
• DSCR: 1.64
• GRM: 7.1

CMA / ARV

• ARV (median comp): $168,796
• List price: $114,000
• Delta: -32.46%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $5,981
• Equity at exit: $16,998

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $36,569
• Equity at exit: $9,857

Cash invested: $31,920 (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 38866

• Home prices YoY: -18.5%
• Active inventory: 150
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $385

Break-even live

Break-even rent $860

Max offer price $114,000

Occupancy floor 66%

Sensitivity live

Price	-10% $449	-5% $417	+0% $385	+5% $352	+10% $320
Rent	-10% $278	-5% $331	+0% $385	+5% $438	+10% $491
Rate	-1.0pp $442	-0.5pp $414	base $385	+0.5pp $355	+1.0pp $325

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-12
   days on market $114,000 Active 77 DOM
2. 2026-06-09
   days on market $114,000 Active 74 DOM
3. 2026-06-08
   days on market $114,000 Active 73 DOM
4. 2026-06-07
   days on market $114,000 Active 72 DOM
5. 2026-06-02
   days on market $114,000 Active 67 DOM
6. 2026-06-01
   days on market $114,000 Active 66 DOM
7. 2026-05-31
   days on market $114,000 Active 65 DOM
8. 2026-05-30
   days on market $114,000 Active 64 DOM
9. 2026-05-11
   price $114,000 285-char remark

   Show marketing remark (285 chars)

   3 bedrooms, 1 bathroom home in Saltillo School District! A new ROOF will be installed in the upcoming weeks! Conveniently located just minutes from Downtown Saltillo but tucked away with privacy. Sits on 1.30 (+/-) acres. All information is deemed reliable but subject to verification.

10. 2026-04-16
    price $124,000 285-char remark

    Show marketing remark (285 chars)

    3 bedrooms, 1 bathroom home in Saltillo School District! A new ROOF will be installed in the upcoming weeks! Conveniently located just minutes from Downtown Saltillo but tucked away with privacy. Sits on 1.30 (+/-) acres. All information is deemed reliable but subject to verification.

11. 2026-04-10
    price $129,000 285-char remark

    Show marketing remark (285 chars)

    3 bedrooms, 1 bathroom home in Saltillo School District! A new ROOF will be installed in the upcoming weeks! Conveniently located just minutes from Downtown Saltillo but tucked away with privacy. Sits on 1.30 (+/-) acres. All information is deemed reliable but subject to verification.

12. 2026-03-27
    listed $150,000 Active 285-char remark

    Show marketing remark (285 chars)

    3 bedrooms, 1 bathroom home in Saltillo School District! A new ROOF will be installed in the upcoming weeks! Conveniently located just minutes from Downtown Saltillo but tucked away with privacy. Sits on 1.30 (+/-) acres. All information is deemed reliable but subject to verification.

13. 2015-07-31
    soldstatus 148-char remark

    Show marketing remark (148 chars)

    Perfect first home that is 3BR/1BA. Great room, kitchen with breakfast area, front porch sitting area great for morning coffee. Home is 1180 sq. ft.

14. 2015-07-31
    soldstatus $64,900

    Show marketing remark (148 chars)

    Perfect first home that is 3BR/1BA. Great room, kitchen with breakfast area, front porch sitting area great for morning coffee. Home is 1180 sq. ft.

15. 2015-04-28
    listed $64,900 148-char remark

    Show marketing remark (148 chars)

    Perfect first home that is 3BR/1BA. Great room, kitchen with breakfast area, front porch sitting area great for morning coffee. Home is 1180 sq. ft.

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $901 · $75/mo
• Expected delta: +$489/yr (+$41/mo · 118.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $16,167
• − Mortgage interest: −$6,386
• − Property taxes: −$412
• − Insurance: −$570
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$3,316
• Taxable income: $2,896
• Est. tax owed @ 24.0%: −$695
• After-tax cash flow: $3,921/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: Lee County School District
• NCES district ID: 2802550
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $41,435
• Composite: 30.38/100
• National rank: #6253
• State rank: #51 of 130 in MS

Livability — Saltillo

• Score: 69/100
• State rank: #48
• US rank: #8244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,714
• Population (ZIP): 11,714

Population outlook (Lee County) Hauer SSP2

• Today (2025): 90,253 people
• By 2030: 92,125 · +2.1%
• By 2040: 94,914 · +5.2%
• By 2050: 95,841 · +6.2%
• By 2075: 94,189 · +4.4%
• By 2100: 83,736 · -7.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 9% Asian 2% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 96% English-only · Vietnamese 2% Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.9% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -30.5pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+32.5 2016: R+37.7 2012: R+29.0 2008: R+30.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.48%
• Current HPI: 173.8036
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+75.7% since first listed

7 events — show timeline

• 2026-05-11 Price Changed $114,000 NEMSBD
• 2026-04-16 Price Changed $124,000 NEMSBD
• 2026-04-10 Price Changed $129,000 NEMSBD
• 2026-03-27 Listed $150,000 NEMSBD
• 2015-07-31 Sold (Public Records) $64,900 Public Records
• 2015-07-31 Sold (MLS) — NEMSBD
• 2015-04-28 Listed $64,900 NEMSBD

Property tax history

+2.7%/yr

Latest (2025): $412 · +2.0% YoY. Source: county tax records.