503 Hoboken St · North Carrollton, MS 38947

$120,000

4 bd · 2.0 ba · 1,508 sqft · SingleFamily · 106 Days on market

Built 1950 Good condition 7,840 sqft lot $80/sqft · 103% above area ↓ 20% since listing

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Welcome to this inviting 4-bedroom, 2-bathroom home located in North Carrollton, MS, offering comfortable living with classic charm. Built in 1950, this well-maintained home features approximately 1,508 square feet of living space designed for both functionality and everyday comfort. The exterior showcases durable vinyl siding and a long-lasting metal roof, providing low maintenance and peace of mind. A paved driveway leads directly to the home, offering convenient parking and easy access. Inside, the home offers a spacious layout with four bedrooms and two full bathrooms, making it ideal for families, guests, or a home office setup. Central heat and air ensure year-round comfort throughout the home. With its practical features, generous bedroom count, and small-town setting, this property presents a great opportunity for homeowners or investors looking for value in Carroll County.

Key facts

• Metal roof
• Central heat and air
• Paved driveway

Tags

• VINYL SIDING
• METAL ROOF
• PAVED DRIVEWAY
• CENTRAL HEAT AND AIR

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (2.4% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#169 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: health & safety D+, amenities F, commute F.
• Carroll County School District (rural): math 13% / reading 21% proficiency, ranked #97 of 130 in MS (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marshall Elementary School (math 12% / reading 27%, grade F, #246 of 375 statewide, top 67%, 364 students, 100% FRL); J Z George High School (math 12% / reading 18%, grade F, #148 of 197 statewide, top 76%, 441 students, 100% FRL) — zoned schools average 100% FRL vs 84% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

• ARV (median comp): $59,084
• List price: $120,000
• Delta: 103.10%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.61×
• Total profit: $20,556
• Equity at exit: $53,957

10-year hold

• IRR: 12.9%
• Equity multiple: 2.93×
• Total profit: $64,696
• Equity at exit: $83,154

Cash invested: $33,600 (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 38947

• Active inventory: 2
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,171 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $96

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 87%

Sensitivity live

Price	-10% $178	-5% $137	+0% $96	+5% $54	+10% $13
Rent	-10% $3	-5% $49	+0% $96	+5% $142	+10% $188
Rate	-1.0pp $156	-0.5pp $126	base $96	+0.5pp $64	+1.0pp $33

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $120,000 Active 106 DOM
2. 2026-06-21
   days on market $120,000 Active 105 DOM
3. 2026-06-18
   days on market $120,000 Active 103 DOM
4. 2026-06-17
   days on market $120,000 Active 102 DOM
5. 2026-06-16
   days on market $120,000 Active 101 DOM
6. 2026-06-15
   days on market $120,000 Active 100 DOM
7. 2026-06-13
   days on market $120,000 Active 98 DOM
8. 2026-06-12
   days on market $120,000 Active 97 DOM
9. 2026-06-09
   days on market $120,000 Active 94 DOM
10. 2026-06-08
    days on market $120,000 Active 93 DOM
11. 2026-06-07
    days on market $120,000 Active 92 DOM
12. 2026-06-07
    days on market $120,000 Active 91 DOM
13. 2026-06-04
    days on market $120,000 Active 88 DOM
14. 2026-06-02
    days on market $120,000 Active 87 DOM
15. 2026-06-01
    days on market $120,000 Active 86 DOM
16. 2026-05-31
    days on market $120,000 Active 85 DOM
17. 2026-03-30
    price $120,000 903-char remark

    Show marketing remark (903 chars)

    Welcome to this inviting 4-bedroom, 2-bathroom home located in North Carrollton, MS, offering comfortable living with classic charm. Built in 1950, this well-maintained home features approximately 1,508 square feet of living space designed for both functionality and everyday comfort. The exterior showcases durable vinyl siding and a long-lasting metal roof, providing low maintenance and peace of mind. A paved driveway leads directly to the home, offering convenient parking and easy access. Inside, the home offers a spacious layout with four bedrooms and two full bathrooms, making it ideal for families, guests, or a home office setup. Central heat and air ensure year-round comfort throughout the home. With its practical features, generous bedroom count, and small-town setting, this property presents a great opportunity for homeowners or investors looking for value in Carroll County.

18. 2026-03-07
    listed $150,000 Active 903-char remark

    Show marketing remark (903 chars)

    Welcome to this inviting 4-bedroom, 2-bathroom home located in North Carrollton, MS, offering comfortable living with classic charm. Built in 1950, this well-maintained home features approximately 1,508 square feet of living space designed for both functionality and everyday comfort. The exterior showcases durable vinyl siding and a long-lasting metal roof, providing low maintenance and peace of mind. A paved driveway leads directly to the home, offering convenient parking and easy access. Inside, the home offers a spacious layout with four bedrooms and two full bathrooms, making it ideal for families, guests, or a home office setup. Central heat and air ensure year-round comfort throughout the home. With its practical features, generous bedroom count, and small-town setting, this property presents a great opportunity for homeowners or investors looking for value in Carroll County.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $14,048
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$3,491
• Taxable loss: −$813
• Est. tax savings @ 24.0%: +$195
• After-tax cash flow: $1,341/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab

This 1950s single-family home in North Carrollton, MS, offers a good condition with a good ROI potential through cosmetic updates and energy-efficient improvements.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value.
• Both Replace blinds with energy-efficient windows — Improves energy efficiency and aesthetics.
• Resale Update kitchen appliances — Modernizes the kitchen and appeals to potential buyers.
• Both Install smart home devices — Enhances convenience and adds value for both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value. ↑
• Both Replace blinds with energy-efficient windows — Improves energy efficiency and aesthetics. ↑
• Resale Update kitchen appliances — Modernizes the kitchen and appeals to potential buyers. ↑
• Both Install smart home devices — Enhances convenience and adds value for both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Carroll County School District
• NCES district ID: 2800930
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 21% ▼ -3.00%
• Median HH income: $34,947
• Composite: 13.96/100
• National rank: #9477
• State rank: #97 of 130 in MS

Livability — North Carrollton

• Score: 62/100
• State rank: #169
• US rank: #16201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Carrollton, MS
• City population: 38
• Population (ZIP): 38

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 9,591 people
• By 2030: 9,104 · -5.1%
• By 2040: 7,986 · -16.7%
• By 2050: 6,981 · -27.2%
• By 2075: 5,244 · -45.3%
• By 2100: 3,826 · -60.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 5%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+44.3) · D 27.6% · R 71.8%
• 2008→2024 swing: -13.0pp toward R · 2008: -31.3pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+38.5 2016: R+38.9 2012: R+32.9 2008: R+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.0% since first listed

2 events — show timeline

• 2026-03-30 Price Changed $120,000 MLSU
• 2026-03-07 Listed $150,000 MLSU