1009 Velma St · Hattiesburg, MS 39402

$155,000

3 bd · 1.0 ba · 2,255 sqft · SingleFamily public records · 3 Days on market

Built 1960 0.32 ac lot Est $244k · 36% 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.5/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This home is full of potential and ready for someone with vision to make it truly special. You can renovate a house, but you can't recreate the charm of a beautiful lot and established location like this one. Priced to sell as-is, this property offers the perfect opportunity to transform a solid canvas into something incredible. Featuring 3 bedrooms, 1.5 bathrooms, a huge walk-in pantry, and flexible living spaces throughout, there's so much room to reimagine and make it your own. The front living room could easily become a home office, cozy sitting area, or even be opened up to enhance the kitchen and dining flow. In the back of the home, you'll find an absolutely massive den filled with n

Key facts

• Huge walk-in pantry
• Natural light
• Massive den

Tags

• HUGE WALK-IN PANTRY
• FLEXIBLE LIVING SPACES
• MASSIVE DEN
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Attached carport; Carport; Driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick veneer construction; Composition roof
• Exterior features: Patio; Back yard with chain link fencing

Interior

• Kitchen: Cooktop; Built-in electric oven
• Flooring: Wood; Ceramic tile; Carpet; Other
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fans; Walk-in closets; Storage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 9.2% 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 (+3.4%/yr); 499 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• This rent runs 31% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 3.4% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $155,000

Questions for the listing agent

1. Built in 1960 — 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: 1.25% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $243,540
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2506 Villa Verde St	0.14mi	3/2.0	2,182 (-3%)	10mo	$235,000	$108	76
1212 Marie St	0.38mi	3/2.5	2,240 (-1%)	0mo	$284,900	$127	75
1304 Carter Dr	0.42mi	4/2.0 (+1)	2,225 (-1%)	1mo	$239,900	$108	68
2319 Arcadia St	0.05mi	3/2.5	2,544 (+13%)	12mo	$259,000	$102	60
822 Johnson Ave	0.21mi	3/2.0	1,985 (-12%)	12mo	$149,000	$75	56
205 Mandalay Dr	0.51mi	4/3.0 (+1)	2,300 (+2%)	8mo	$259,900	$113	54

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-7
• Equity at exit: $23,111

10-year hold

• IRR: 10.1%
• Equity multiple: 1.80×
• Total profit: $34,594
• Equity at exit: $13,402

Cash invested: $43,400 (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 39402

• Rents YoY: 3.4%
• Active inventory: 499
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,934 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$269 /mo · $3,228/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $382

Break-even live

Break-even rent $1,451

Max offer price $155,000

Occupancy floor 75%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.40mi
904 S 34th Ave Unit 1331002P Hattiesburg, MS	4.0	2.0	2680	$10,074	$3.76	44d	1	0.81mi
313 S 11th Ave Hattiesburg, MS	3.0	2.0	1596	$1,850	$1.16	21d	1	1.33mi

Listing history 2 events

1. 2026-05-19
   status Pending
2. 2026-05-16
   listed $155,000 Active

ⓘ 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: $3,228 · $269/mo
• Projected year-2 tax: $3,228 · $269/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 ≥107°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: $23,212
• − Mortgage interest: −$8,682
• − Property taxes: −$3,228
• − Insurance: −$775
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$4,509
• Taxable income: $2,304
• Est. tax owed @ 24.0%: −$553
• After-tax cash flow: $4,028/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: Lamar County · 44,620 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 44,620
• Household income: $75,220
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 864.0

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 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -130.41%
• Current HPI: 163.5142
• Rent YoY: ▲ 3.37%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-19 Pending — HAAR
• 2026-05-16 Listed $155,000 HAAR

Property tax history

+2.9%/yr

Latest (2025): $3,228 · +18.0% YoY. Source: county tax records.