400 Cardinal Ln · Redwater, MS 39051

$124,900

3 bd · 2.0 ba · 1,465 sqft · SingleFamily · 4 Days on market

Built 2007 1.00 ac lot

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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 +18.4/30.0
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +3.9/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Charming cabin-style home on 1 acre in the country! Built in 2007, this 3 bedroom, 2 bathroom home features half-log siding, a full-length front porch, and a metal roof replaced in 2021. Enjoy the peaceful country setting while still having the opportunity to add your own personal finishing touches. Sellers began renovations to make the home more wheelchair accessible before deciding to build a new home, creating a great opportunity for the next owner to complete updates to their own style and needs. The home is livable and offers solid bones with no known major foundation, plumbing, HVAC, or electrical issues. Some updates have already been started, while remaining cosmetic and finish wor

Key facts

• Metal roof
• Cabin style home
• Half log siding

Tags

• CABIN STYLE HOME
• HALF LOG SIDING
• FULL LENGTH FRONT PORCH
• METAL ROOF
• WHEELCHAIR ACCESSIBLE
• PEACEFUL COUNTRY SETTING

Property features AI

Exterior

• Parking: Driveway; Gravel parking; Direct access
• Utilities: Septic tank; Community or private water; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; House; One level; Move-in ready; Accessible approach with ramp
• Construction: Log siding; Metal roof; Conventional foundation; Built according to public records
• Exterior features: Front porch; Side porch; Rain gutters; Shed(s) / storage

Interior

• Kitchen: Dishwasher; Microwave
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fans
• Interior features: Bar; Cathedral ceilings; Ceiling fans; Open floor plan; Pantry; Recessed lighting; Smart thermostat; Vaulted ceilings; Double vanity

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $118 ($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 $112k (10.6% below list).
• Recommended offer: $112k (10.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#302 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Leake County School District (town): math 11% / reading 22% proficiency, ranked #102 of 130 in MS (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP.

Forward outlook

• In year one you build about $12k of equity ($864 loan paydown + $11k appreciation (9.0% local appreciation)).
• Leake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% 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.

Recommended offer $111,633 (10.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.89% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.91×
• Total profit: $66,659
• Equity at exit: $103,149

10-year hold

• IRR: 22.3%
• Equity multiple: 6.39×
• Total profit: $188,553
• Equity at exit: $213,174

Cash invested: $34,972 (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 39051

• Home prices YoY: 5.9%
• Active inventory: 81
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$57 /mo · $688/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $118

Break-even live

Break-even rent $968

Max offer price $124,900

Occupancy floor 84%

Sensitivity live

Price	-10% $188	-5% $153	+0% $118	+5% $82	+10% $47
Rent	-10% $29	-5% $73	+0% $118	+5% $162	+10% $206
Rate	-1.0pp $180	-0.5pp $149	base $118	+0.5pp $85	+1.0pp $52

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-18
   status Pending 990-char remark
2. 2026-05-14
   listed $124,900 Active 990-char remark
3. 2007-06-04
   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: $688 · $57/mo
• Projected year-2 tax: $987 · $82/mo
• Expected delta: +$299/yr (+$25/mo · 43.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $13,396
• − Mortgage interest: −$6,996
• − Property taxes: −$688
• − Insurance: −$624
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − Depreciation: −$3,633
• Taxable loss: −$689
• Est. tax savings @ 24.0%: +$165
• After-tax cash flow: $1,576/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: Leake County School District
• NCES district ID: 2802520
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $32,894
• Composite: 13.33/100
• National rank: #9538
• State rank: #102 of 130 in MS

Livability — Redwater

• Score: 56/100
• State rank: #302
• US rank: #22495

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,242

Population outlook (Leake County) Hauer SSP2

• Today (2025): 21,382 people
• By 2030: 20,405 · -4.6%
• By 2040: 18,208 · -14.8%
• By 2050: 15,732 · -26.4%
• By 2075: 9,562 · -55.3%
• By 2100: 5,455 · -74.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 47% Black 39% Hispanic / Latino 8% Native American 5% Two or more races 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 7%

Political lean MEDSL · Leake

• 2024 margin: Strong R (+23.4) · D 38.0% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.7pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+14.5 2016: R+14.2 2012: R+8.6 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.96%
• Current HPI: 161.5452
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-05-18 Pending — MLSU
• 2026-05-14 Listed $124,900 MLSU
• 2007-06-04 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $688 · +3.5% YoY. Source: county tax records.