77 Old Levee Rd

Rena Lara, MS 38720

$59,000B

1 bd · 1.0 ba · 1,288 sqft · Built 1995 · SingleFamily · Active · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $948/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $341/mo
• Annual: $4,092/yr
• Cap rate: 13.23%
• Cash-on-cash: 24.77%
• DSCR: 2.10
• 1% rule: 1.61%
• Cash to close: $16,520

Investor read

• This is a 1-bed/1.0-bath single-family listed at $59k. Condition is rated fair.
• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $59k).
• It's been on market 181 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($408 loan paydown + $1k appreciation (2.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Coahoma County School District (rural): math 16% / reading 18% proficiency, ranked #103 of 130 in MS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Coahoma County Jr/Sr High School (math 11% / reading 15%, grade F, #155 of 197 statewide, top 80%, 516 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Market conditions: 4 active listings in the ZIP; 26 units permitted in Coahoma County in 2024 (0 in 5+ unit buildings).
• Coahoma County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant damage and wear
• Major: roof — Exposed wood and potential rust
• Major: flooring — Worn carpet in living areas
• Major: interior walls — Worn paint and visible wear
• Minor: kitchen cabinets — Standard cabinetry, but dated
• Minor: bathroom fixtures — Standard fixtures, but dated