108 E Mclaurin St

Sardis, MS 38666

$219,000D

3 bd · 1.5 ba · 1,335 sqft · Built 1970 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,950/mo
• Mortgage (P&I): −$1,148
• Tax + insurance: −$213
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $179/mo
• Annual: $2,144/yr
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• 1% rule: 0.89%
• Cash to close: $61,320

Investor read

• This is a 3-bed/1.5-bath single-family listed at $219k.
• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (11.0% below list).
• It's been on market 17 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $195k (11.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#235 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety D+, amenities F, commute F.
• North Panola School District (rural): math 2% / reading 8% proficiency, ranked #129 of 130 in MS (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Green Hill Intermediate (math 0% / reading 7%, grade F, #371 of 375 statewide, top 99%, 298 students, 100% FRL); North Panola Middle School (math 4% / reading 10%, grade F, #170 of 179 statewide, top 95%, 281 students, 100% FRL).
• Market conditions: 26 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Panola County in 2024 (0 in 5+ unit buildings).
• Panola County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 19y 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.
• Climate carrying-cost: moderate wind risk, 26% 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.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.