228 Farmers Row · Gluckstadt, MS 39110

$264,100

3 bd · 4.0 ba · 1,471 sqft · SingleFamily public records · 121 Days on market

Built 1998 0.25 ac lot $180/sqft · 7% below area Est $285k · 7% under

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Why this score? — see what drove the C 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 +22.2/30.0
• ARV discount +10.9/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Schools +4.8/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location to everything in Gluckstadt! 3 Bedroom 2 Bath home in Red Oak Plantation Beautifully remodeled master Bathroom Large living room w/ fireplace , well appointed kitchen, breakfast area. Large fenced in backyard.

Key facts

• Large living room
• 0.25 acre lot
• 2 garage spots

Tags

• REMODELED MASTER BATHROOM
• LARGE LIVING ROOM
• WELL APPOINTED KITCHEN
• LARGE FENCED IN BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $264k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $264k).
• Recommended offer: $232k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.9% in Gluckstadt — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.6%/yr); 628 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 8 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

• Climate carrying-cost: major wind risk, 78% 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 $232,408 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.99%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (median comp): $285,491
• List price: $264,100
• Delta: -7.49%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Hunters Row	0.21mi	3/2.0	1,561 (+6%)	9mo	$289,000	$185	64
107 Planters Row	0.13mi	3/2.0	1,540 (+5%)	22mo	$268,000	$174	60
101 Hayfield Pl	0.19mi	3/2.0	1,655 (+12%)	4mo	$295,000	$178	59
116 Planters Row	0.10mi	3/2.0	1,575 (+7%)	22mo	$274,700	$174	58
168 Hunters Row	0.28mi	3/2.0	1,665 (+13%)	24mo	$279,900	$168	37

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-16,444
• Equity at exit: $39,378

10-year hold

• IRR: 3.2%
• Equity multiple: 1.22×
• Total profit: $16,576
• Equity at exit: $22,835

Cash invested: $73,948 (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 39110

• Home prices YoY: -28.3%
• Rents YoY: 2.6%
• Active inventory: 628
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,694 high
• Mortgage (P&I): −$1,385
• Tax from tax record: −$203 /mo · $2,433/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $431

Break-even live

Break-even rent $2,149

Max offer price $264,100

Occupancy floor 79%

Sensitivity live

Price	-10% $580	-5% $506	+0% $431	+5% $356	+10% $281
Rent	-10% $218	-5% $324	+0% $431	+5% $537	+10% $644
Rate	-1.0pp $564	-0.5pp $498	base $431	+0.5pp $362	+1.0pp $293

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: $66,025
• Closing costs: $7,923
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 Owen St Madison, MS	3.0	2.0	1824	$2,900	$1.59	24d	1	0.66mi
132 Hanover St Madison, MS	3.0	2.0	1776	$2,650	$1.49	14d	1	0.75mi
212 Stillhouse Creek Dr Madison, MS	3.0	2.0	1856	$2,900	$1.56	14d	1	0.75mi
140 Millhouse Dr Madison, MS	3.0	2.0	1411	$2,400	$1.70	22d	1	0.77mi
109 Millhouse Dr Madison, MS	3.0	2.0	1550	$2,395	$1.55	14d	1	0.80mi
145 Stillhouse Creek Dr Madison, MS	3.0	2.0	1755	$2,600	$1.48	44d	1	0.94mi
112 Copper Ridge Ct Madison, MS	3.0	2.0	1600	$2,495	$1.56	14d	1	0.98mi
173 Clearview Dr W Madison, MS	3.0	2.0	1750	$2,473	$1.41	14d	1	1.09mi
104 Fairwind Way Madison, MS	3.0	2.0	1557	$3,000	$1.93	44d	1	1.15mi

Listing history 30 events

1. 2026-06-03
   days on market $264,100 Active 121 DOM
2. 2026-06-02
   days on market $264,100 Active 120 DOM
3. 2026-06-01
   days on market $264,100 Active 119 DOM
4. 2026-05-31
   days on market $264,100 Active 118 DOM
5. 2026-05-30
   days on market $264,100 Active 117 DOM
6. 2026-05-15
   price $264,100 225-char remark

   Show marketing remark (225 chars)

   Great Location to everything in Gluckstadt! 3 Bedroom 2 Bath home in Red Oak Plantation Beautifully remodeled master Bathroom Large living room w/ fireplace , well appointed kitchen, breakfast area. Large fenced in backyard.

7. 2026-03-30
   historical $2,100
8. 2026-03-24
   price $269,100 225-char remark

   Show marketing remark (225 chars)

   Great Location to everything in Gluckstadt! 3 Bedroom 2 Bath home in Red Oak Plantation Beautifully remodeled master Bathroom Large living room w/ fireplace , well appointed kitchen, breakfast area. Large fenced in backyard.

9. 2026-02-01
   listed $275,000 Active 225-char remark

   Show marketing remark (225 chars)

   Great Location to everything in Gluckstadt! 3 Bedroom 2 Bath home in Red Oak Plantation Beautifully remodeled master Bathroom Large living room w/ fireplace , well appointed kitchen, breakfast area. Large fenced in backyard.

10. 2025-09-30
    listed $2,100
11. 2021-10-08
    historical
12. 2016-05-04
    soldstatus
13. 2016-04-29
    soldstatus
14. 2016-02-19
    listed $173,500
15. 2013-05-22
    soldstatus
16. 2013-05-16
    soldstatus
17. 2013-01-20
    listed $157,900
18. 2011-09-27
    listed $161,000
19. 2007-06-15
    soldstatus
20. 2007-06-06
    soldstatus
21. 2007-03-21
    listed $160,000
22. 2005-02-02
    soldstatus
23. 2005-01-27
    soldstatus
24. 2004-12-21
    listed $144,900
25. 2002-09-09
    soldstatus
26. 2002-08-26
    soldstatus
27. 2002-07-03
    listed $129,500
28. 2001-06-27
    soldstatus
29. 1998-06-09
    soldstatus
30. 1997-06-03
    soldstatus

ⓘ 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: $2,433 · $203/mo
• Projected year-2 tax: $2,433 · $203/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 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,333
• − Mortgage interest: −$14,794
• − Property taxes: −$2,433
• − Insurance: −$1,320
• − Repairs & maintenance: −$2,587
• − Management: −$2,587
• − Depreciation: −$7,683
• Taxable income: $930
• Est. tax owed @ 24.0%: −$223
• After-tax cash flow: $4,947/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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Gluckstadt

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Gluckstadt, MS
• County: Madison County · 75,005 people
• Metro: Jackson, MS
• Population (ZIP): 50,443
• Household income: $125,506
• Rent vs Own: 9.1% rent · 90.9% own
• Severe rent burden: 227.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Asian 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.99%
• Current HPI: 154.6909
• Rent YoY: ▲ 2.61%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+103.9% since first listed

25 events — show timeline

• 2026-05-15 Price Changed $264,100 MLSU
• 2026-03-30 Rental Removed $2,100 MLSU
• 2026-03-24 Price Changed $269,100 MLSU
• 2026-02-01 Listed $275,000 MLSU
• 2025-09-30 Listed for Rent $2,100 MLSU
• 2021-10-08 Listing Removed — MLSU
• 2016-05-04 Sold (Public Records) — Public Records
• 2016-04-29 Sold (MLS) — MLSU
• 2016-02-19 Listed $173,500 MLSU
• 2013-05-22 Sold (Public Records) — Public Records
• 2013-05-16 Sold (MLS) — MLSU
• 2013-01-20 Listed $157,900 MLSU
• 2011-09-27 Listed $161,000 MLSU
• 2007-06-15 Sold (Public Records) — Public Records
• 2007-06-06 Sold (MLS) — MLSU
• 2007-03-21 Listed $160,000 MLSU
• 2005-02-02 Sold (Public Records) — Public Records
• 2005-01-27 Sold (MLS) — MLSU
• 2004-12-21 Listed $144,900 MLSU
• 2002-09-09 Sold (Public Records) — Public Records
• 2002-08-26 Sold (MLS) — MLSU
• 2002-07-03 Listed $129,500 MLSU
• 2001-06-27 Sold (Public Records) — Public Records
• 1998-06-09 Sold (Public Records) — Public Records
• 1997-06-03 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $2,433 · +84.1% YoY. Source: county tax records.