164 Johnson Avenue Ave · Verona, MS 38801

$65,000

4 bd · 1.0 ba · 2,188 sqft · SingleFamily public records · 126 Days on market

Built 1945 0.43 ac lot $30/sqft · 60% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor's WELCOME! Exceptional opportunity with generous square footage. Put your finishing touches on this four bedroom home and make great rental income! All information deemed reliable - but subject to verification.

Key facts

• 0.43 acre lot
• Built 1945
• Listed 125 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#198 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Lee County School District (rural): math 37% / reading 35% proficiency, ranked #51 of 130 in MS (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.3%/yr); 235 active listings in the ZIP; 154 units permitted in Lee County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lee County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $33k; list at $65k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.42% ✓
• Cap rate: 19.83%
• Cash-on-cash: 48.36%
• DSCR: 3.15
• GRM: 3.4

CMA / ARV

• ARV (median comp): $154,269
• List price: $65,000
• Delta: -57.87%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 Lipford St	0.56mi	3/2.0 (-1)	2,468 (+13%)	6mo	$135,000	$55	39

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 · 7.3% rent growth · sell at horizon

5-year hold

• IRR: 50.9%
• Equity multiple: 3.38×
• Total profit: $43,341
• Equity at exit: $9,692

10-year hold

• IRR: 58.2%
• Equity multiple: 8.14×
• Total profit: $129,988
• Equity at exit: $5,620

Cash invested: $18,200 (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 38801

• Home prices YoY: -20.7%
• Rents YoY: 7.3%
• Active inventory: 235
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,574 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$142 /mo · $1,702/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $733

Break-even live

Break-even rent $645

Max offer price $65,000

Occupancy floor 48%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $65,000 Active 126 DOM
2. 2026-06-18
   days on market $65,000 Active 125 DOM
3. 2026-06-17
   days on market $65,000 Active 124 DOM
4. 2026-06-16
   days on market $65,000 Active 123 DOM
5. 2026-06-15
   days on market $65,000 Active 122 DOM
6. 2026-06-14
   days on market $65,000 Active 120 DOM
7. 2026-06-12
   days on market $65,000 Active 119 DOM
8. 2026-06-09
   days on market $65,000 Active 116 DOM
9. 2026-06-08
   days on market $65,000 Active 115 DOM
10. 2026-06-07
    days on market $65,000 Active 114 DOM
11. 2026-06-02
    days on market $65,000 Active 109 DOM
12. 2026-06-01
    days on market $65,000 Active 108 DOM
13. 2026-05-31
    days on market $65,000 Active 107 DOM
14. 2026-05-30
    days on market $65,000 Active 106 DOM
15. 2026-02-13
    listed $65,000 Active 219-char remark

    Show marketing remark (219 chars)

    Investor's WELCOME! Exceptional opportunity with generous square footage. Put your finishing touches on this four bedroom home and make great rental income! All information deemed reliable - but subject to verification.

16. 2023-11-02
    soldstatus $32,900
17. 2021-04-12
    soldstatus $32,900

ⓘ 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: $1,702 · $142/mo
• Projected year-2 tax: $1,702 · $142/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,883
• − Mortgage interest: −$3,641
• − Property taxes: −$1,702
• − Insurance: −$325
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$1,891
• Taxable income: $8,303
• Est. tax owed @ 24.0%: −$1,993
• After-tax cash flow: $6,808/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: Lee County School District
• NCES district ID: 2802550
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $41,435
• Composite: 30.38/100
• National rank: #6253
• State rank: #51 of 130 in MS

Livability — Verona

• Score: 61/100
• State rank: #198
• US rank: #18097

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Verona, MS
• County: Lee County · 52,445 people
• City population: 37
• Metro: Tupelo, MS
• Population (ZIP): 29,858
• Household income: $62,946
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 890.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 90,253 people
• By 2030: 92,125 · +2.1%
• By 2040: 94,914 · +5.2%
• By 2050: 95,841 · +6.2%
• By 2075: 94,189 · +4.4%
• By 2100: 83,736 · -7.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 45% White 44% Hispanic / Latino 6% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.9% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -30.5pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+32.5 2016: R+37.7 2012: R+29.0 2008: R+30.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.12%
• Current HPI: 173.1355
• Rent YoY: ▲ 7.30%
• Metro: Tupelo, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+97.6% since first listed

3 events — show timeline

• 2026-02-13 Listed $65,000 NEMSBD
• 2023-11-02 Sold (Public Records) $32,900 Public Records
• 2021-04-12 Sold (Public Records) $32,900 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,702 · +1.0% YoY. Source: county tax records.