104 N East St

Okolona, MS 38860

$179,000D-

4 bd · 1.0 ba · 1,808 sqft · Built 1998 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $-56/mo
• Annual: $-673/yr
• Cap rate: 5.92%
• Cash-on-cash: -1.34%
• DSCR: 0.94
• 1% rule: 0.72%
• Cash to close: $50,120

Investor read

• This is a 4-bed/1.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $-56 ($-673/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (28.1% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $129k (28.1% below list) — sets the bar for 1% rule.
• In year one you build about $586 of equity ($1k loan paydown + $-652 appreciation (-0.4% local appreciation)).
• Location reads 61/100 on livability (#191 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.
• Okolona Separate School District (rural): math 24% / reading 17% proficiency, ranked #93 of 130 in MS (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 7 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).
• Chickasaw County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.