608 Peters St · Summit, MS 39666

$139,000

3 bd · 1.5 ba · 3,174 sqft · SingleFamily public records · 286 Days on market

Built 1898 1.60 ac lot $44/sqft · 47% below area Est $228k · 39% under ↓ 21% since listing

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Why this score? — see what drove the C+ 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +7.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

Key facts

• Original doors
• Original siding
• Original staircase

Tags

• ORIGINAL DOORS
• TRANSOMS
• ORIGINAL STAIRCASE
• HARDY BOARD SIDING
• ORIGINAL SIDING
• NEW PLYWOOD SHEATHING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#172 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety C-, schools F, amenities F.
• Mccomb School District (town): math 15% / reading 16% proficiency, ranked #106 of 130 in MS (top 82%) — 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: 79 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pike 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 286 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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 1898 — 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. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.21%
• DSCR: 1.41
• GRM: 6.9

CMA / ARV

• ARV (median comp): $227,823
• List price: $139,000
• Delta: -38.99%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-3,434
• Equity at exit: $20,725

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $21,784
• Equity at exit: $12,018

Cash invested: $38,920 (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 39666

• Home prices YoY: -34.3%
• Active inventory: 79
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,685 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$246 /mo · $2,953/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $299

Break-even live

Break-even rent $1,307

Max offer price $139,000

Occupancy floor 77%

Sensitivity live

Price	-10% $377	-5% $338	+0% $299	+5% $259	+10% $220
Rent	-10% $165	-5% $232	+0% $299	+5% $365	+10% $432
Rate	-1.0pp $369	-0.5pp $334	base $299	+0.5pp $263	+1.0pp $226

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $139,000 Active 286 DOM
2. 2026-06-21
   days on market $139,000 Active 285 DOM
3. 2026-06-18
   days on market $139,000 Active 283 DOM
4. 2026-06-17
   days on market $139,000 Active 282 DOM
5. 2026-06-16
   days on market $139,000 Active 281 DOM
6. 2026-06-15
   days on market $139,000 Active 280 DOM
7. 2026-06-13
   days on market $139,000 Active 278 DOM
8. 2026-06-12
   days on market $139,000 Active 277 DOM
9. 2026-06-09
   days on market $139,000 Active 274 DOM
10. 2026-06-08
    days on market $139,000 Active 273 DOM
11. 2026-06-07
    days on market $139,000 Active 272 DOM
12. 2026-06-07
    days on market $139,000 Active 271 DOM
13. 2026-06-04
    days on market $139,000 Active 268 DOM
14. 2026-06-02
    pricedays on market $139,000 Active 267 DOM
15. 2026-06-01
    days on market $149,000 Active 266 DOM
16. 2026-05-31
    days on market $149,000 Active 265 DOM
17. 2026-04-10
    status Active 513-char remark

    Show marketing remark (513 chars)

    This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

18. 2026-03-09
    price $149,000 513-char remark

    Show marketing remark (513 chars)

    This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

19. 2026-01-12
    price $159,000 513-char remark

    Show marketing remark (513 chars)

    This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

20. 2025-11-19
    price $169,500 513-char remark

    Show marketing remark (513 chars)

    This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

21. 2025-09-23
    historical Active Under Contract 513-char remark

    Show marketing remark (513 chars)

    This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

22. 2025-09-08
    listed $189,500 Active 513-char remark

    Show marketing remark (513 chars)

    This one was buildt in 1898 with original doors with transoms. The original staircase is as it was constructed in 1898 leading to the upstairs. The upstairs was never completed . The exterior siding has been replaced with hardy board siding with the exception of the siding on the porch is original to the house. The roof has new plywood sheathing and architetural shingles. The house is being sold ''AS IS'' it will not qualify for VA, FHA or USDA loan. It will qualify for Convential loan or cash only.

ⓘ 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: $2,953 · $246/mo
• Projected year-2 tax: $2,953 · $246/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $20,226
• − Mortgage interest: −$7,786
• − Property taxes: −$2,953
• − Insurance: −$695
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$4,044
• Taxable income: $1,512
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $3,221/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: Mccomb School District
• NCES district ID: 2802880
• Math proficiency: 15% ▼ -20.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $29,855
• Composite: 12.26/100
• National rank: #9645
• State rank: #106 of 130 in MS

Livability — Summit

• Score: 62/100
• State rank: #172
• US rank: #16320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, MS
• Population (ZIP): 11,985

Population outlook (Pike County) Hauer SSP2

• Today (2025): 38,766 people
• By 2030: 37,874 · -2.3%
• By 2040: 35,743 · -7.8%
• By 2050: 33,276 · -14.2%
• By 2075: 26,799 · -30.9%
• By 2100: 18,562 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 36% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 0% · China

Political lean MEDSL · Pike

• 2024 margin: Toss-up / Even · D 47.8% · R 51.3%
• 2008→2024 swing: -7.0pp toward R · 2008: 3.5pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+1.0 2016: R+0.7 2012: D+7.6 2008: D+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.48%
• Current HPI: 113.9026
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.4% since first listed

6 events — show timeline

• 2026-04-10 Relisted — MLSU
• 2026-03-09 Price Changed $149,000 MLSU
• 2026-01-12 Price Changed $159,000 MLSU
• 2025-11-19 Price Changed $169,500 MLSU
• 2025-09-23 Contingent — MLSU
• 2025-09-08 Listed $189,500 MLSU

Property tax history

+7.9%/yr

Latest (2025): $2,953 · +13.7% YoY. Source: county tax records.