147 Howard Rd

Oakland, MS 38927

$47,000B

3 bd · 2.0 ba · 984 sqft · Built 1993 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $955/mo
• Mortgage (P&I): −$246
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $404/mo
• Annual: $4,847/yr
• Cap rate: 16.61%
• Cash-on-cash: 36.83%
• DSCR: 2.64
• 1% rule: 2.03%
• Cash to close: $13,160

Investor read

• This is a 3-bed/2.0-bath single-family listed at $47k.
• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $47k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($325 loan paydown + $747 appreciation (1.6% local appreciation)).
• Location reads 51/100 on livability (#338 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D+, schools F, amenities F.
• East Tallahatchie Consol School District (town): math 6% / reading 6% proficiency, ranked #127 of 130 in MS (top 98%) — 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.
• Market conditions: 6 active listings in the ZIP; 1 units permitted in Tallahatchie County in 2024 (0 in 5+ unit buildings).
• Tallahatchie County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• 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?
• 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.