None

Winona, MS 38967

$135,000D

3 bd · 2.0 ba · 1,394 sqft · Built 1950 · SingleFamily · Active · 1014 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,099/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-8/mo
• Annual: $-98/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• 1% rule: 0.81%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-8 ($-98/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (18.6% below list).
• It's been on market 1014 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (18.6% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($933 loan paydown + $5k appreciation (4.0% local appreciation)).
• Location reads 68/100 on livability (#61 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 92 units permitted in Montgomery County in 2024 (82 in 5+ unit buildings).
• Montgomery County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $38k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 1014 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.