1904 Adeline St · Hattiesburg, MS 39401

$139,900

3 bd · 1.0 ba · 1,582 sqft · SingleFamily public records · 1 Days on market

Built 1949 Est $191k · 27% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

TOTALLY UPGRADED & DECORATED IN DESIGNER COLORS. NEW KITCHEN, WOOD FLOORS IN ALL BEDROOMS, DINING, & LIVING. SCREENED PORCH W/ CEILING FANS & SPEAKER WIRES. ATTRACTIVE, WELL MAINTAINED LANDSCAPING. MINI BLINDS, WOOD BLINDS, & CORNICE BOARDS REMAIN.

Key facts

• Screened porch
• Park-like setting
• Abundance of windows

Tags

• ORIGINAL HARDWOOD FLOORS
• ABUNDANCE OF WINDOWS
• SCREENED PORCH
• DETACHED GARAGE
• PARK-LIKE SETTING

Property features AI

Exterior

• Parking: 2-car garage; Paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Corner lot; Gentle sloping lot
• Construction: Brick veneer construction; Raised foundation; Composition roof
• Exterior features: Garden; Covered and screened patio/porch

Interior

• Flooring: Wood flooring; Ceramic tile flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric air conditioning
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 10.1% vs local median 4.0% in Hattiesburg — 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 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment F.
• Hattiesburg Public School District (urban): math 25% / reading 26% proficiency, ranked #81 of 130 in MS (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 261 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• At $1,790/mo this rent would consume 52% of the median local household income ($41k/yr) (locally 2534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.28% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.69%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $191,422
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1216 Estelle St	0.72mi	3/2.0	1,577 (-0%)	9mo	$224,900	$143	54
305 S 12th Ave	0.69mi	3/2.0	1,503 (-5%)	9mo	$175,000	$116	48
1407 Concart St	0.63mi	2/1.0 (-1)	1,520 (-4%)	18mo	$149,000	$98	44
2201 Mcinnis St	0.55mi	3/2.0	1,775 (+12%)	8mo	$215,000	$121	43
2012 Eddy St	0.47mi	3/2.0	1,426 (-10%)	22mo	$174,900	$123	40

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 · 6.56% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.32×
• Total profit: $12,460
• Equity at exit: $20,860

10-year hold

• IRR: 20.0%
• Equity multiple: 2.96×
• Total profit: $76,931
• Equity at exit: $12,096

Cash invested: $39,172 (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 39401

• Rents YoY: 6.6%
• Active inventory: 261
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,790 high
• Mortgage (P&I): −$734
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $447

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 70%

Sensitivity live

Price	-10% $526	-5% $486	+0% $447	+5% $407	+10% $368
Rent	-10% $305	-5% $376	+0% $447	+5% $518	+10% $588
Rate	-1.0pp $517	-0.5pp $482	base $447	+0.5pp $411	+1.0pp $374

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
804 Pineview Dr Hattiesburg, MS	4.0	2.0	1880	$3,000	$1.60	21d	1	0.25mi
307 S 23rd Ave Hattiesburg, MS	3.0	2.0	1300	$1,595	$1.23	44d	1	0.45mi
107 Kimball Ave Hattiesburg, MS	3.0	1.0	1500	$1,375	$0.92	21d	1	0.61mi
313 S 11th Ave Hattiesburg, MS	3.0	2.0	1596	$1,850	$1.16	21d	1	0.73mi
416 N 19th Ave Hattiesburg, MS	2.0	1.0	1100	$1,250	$1.14	21d	1	1.02mi
901 W Pine St Hattiesburg, MS	1.0–2.0	1.0–1.5	930	$1,200	$1.29	21d	1	1.19mi
2304 W 7th St Hattiesburg, MS	1.0–3.0	1.0–2.5	1175	$1,065	$0.91	21d	1	1.29mi
78 Wisteria Dr Hattiesburg, MS	3.0	2.0	1281	$1,118	$0.87	45d	1	1.36mi

Listing history 5 events

1. 2026-05-09
   status Pending
2. 2026-05-07
   listed $139,900 Active
3. 2020-09-26
   listed $95,000
4. 2002-06-06
   soldstatus 270-char remark

   Show marketing remark (270 chars)

   TOTALLY UPGRADED & DECORATED IN DESIGNER COLORS. NEW KITCHEN, WOOD FLOORS IN ALL BEDROOMS, DINING, & LIVING. SCREENED PORCH W/ CEILING FANS & SPEAKER WIRES. ATTRACTIVE, WELL MAINTAINED LANDSCAPING. MINI BLINDS, WOOD BLINDS, & CORNICE BOARDS REMAIN.

5. 2002-04-06
   listed $92,500 270-char remark

   Show marketing remark (270 chars)

   TOTALLY UPGRADED & DECORATED IN DESIGNER COLORS. NEW KITCHEN, WOOD FLOORS IN ALL BEDROOMS, DINING, & LIVING. SCREENED PORCH W/ CEILING FANS & SPEAKER WIRES. ATTRACTIVE, WELL MAINTAINED LANDSCAPING. MINI BLINDS, WOOD BLINDS, & CORNICE BOARDS REMAIN.

ⓘ 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: $2,102 · $175/mo
• Projected year-2 tax: $2,102 · $175/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 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: $21,478
• − Mortgage interest: −$7,837
• − Property taxes: −$2,102
• − Insurance: −$700
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$4,070
• Taxable income: $3,334
• Est. tax owed @ 24.0%: −$800
• After-tax cash flow: $4,563/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: Hattiesburg Public School District
• NCES district ID: 2801800
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $28,058
• Composite: 20.38/100
• National rank: #8595
• State rank: #81 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hattiesburg, MS
• County: Forrest County · 65,413 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 42,531
• Household income: $41,127
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 2534.0

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 52% White 40% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -148.93%
• Current HPI: 137.87
• Rent YoY: ▲ 6.56%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+51.2% since first listed

5 events — show timeline

• 2026-05-09 Pending — HAAR
• 2026-05-07 Listed $139,900 HAAR
• 2020-09-26 Listed $95,000 HAAR
• 2002-06-06 Sold (MLS) — HAAR
• 2002-04-06 Listed $92,500 HAAR

Property tax history

+0.4%/yr

Latest (2025): $2,102 · +12.2% YoY. Source: county tax records.