305 NW 3rd Ave · Magee, MS 39111

$149,900

3 bd · 2.5 ba · 1,667 sqft · MultiFamily · 143 Days on market

Built 1930 Average condition 0.43 ac lot $90/sqft · at area comps Est $144k · at est.

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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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Appreciation +6.5/10.0
• ARV discount +5.7/15.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Turn of the century home that has been well maintained and located in the historic downtown Magee. Featuring 3 Br 2 Ba, large kitchen, family room, laundry room. At present being used as rental property. $600 for 3 Br 1 Ba and $400 for the efficiency apartment

Key facts

• 0.43 acre lot
• Parking
• Built 1930

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $150k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.6% in Magee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#158 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.9% local appreciation)).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1930 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.46%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $143,986
• List price: $149,900
• Delta: 4.11%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.91×
• Total profit: $38,366
• Equity at exit: $66,566

10-year hold

• IRR: 17.8%
• Equity multiple: 3.58×
• Total profit: $108,092
• Equity at exit: $101,942

Cash invested: $41,972 (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 39111

• Home prices YoY: 1.8%
• Active inventory: 75
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $331

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 76%

Sensitivity live

Price	-10% $434	-5% $383	+0% $331	+5% $279	+10% $227
Rent	-10% $194	-5% $262	+0% $331	+5% $399	+10% $467
Rate	-1.0pp $406	-0.5pp $369	base $331	+0.5pp $292	+1.0pp $252

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$900
1× unit	1	1	$830
Total (2 units)			$1,730

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $149,900 Active 143 DOM
2. 2026-06-18
   days on market $149,900 Active 141 DOM
3. 2026-06-17
   days on market $149,900 Active 140 DOM
4. 2026-06-16
   days on market $149,900 Active 139 DOM
5. 2026-06-15
   days on market $149,900 Active 138 DOM
6. 2026-06-13
   days on market $149,900 Active 136 DOM
7. 2026-06-12
   days on market $149,900 Active 135 DOM
8. 2026-06-09
   days on market $149,900 Active 132 DOM
9. 2026-06-08
   days on market $149,900 Active 131 DOM
10. 2026-06-07
    days on market $149,900 Active 130 DOM
11. 2026-06-07
    days on market $149,900 Active 129 DOM
12. 2026-06-04
    days on market $149,900 Active 126 DOM
13. 2026-06-02
    days on market $149,900 Active 125 DOM
14. 2026-06-01
    days on market $149,900 Active 124 DOM
15. 2026-05-31
    days on market $149,900 Active 123 DOM
16. 2026-04-29
    status Active 263-char remark

    Show marketing remark (263 chars)

    Turn of the century home that has been well maintained and located in the historic downtown Magee. Featuring 3 Br 2 Ba, large kitchen, family room, laundry room. At present being used as rental property. $600 for 3 Br 1 Ba and $400 for the efficiency apartment

17. 2026-04-15
    status Pending 263-char remark

    Show marketing remark (263 chars)

    Turn of the century home that has been well maintained and located in the historic downtown Magee. Featuring 3 Br 2 Ba, large kitchen, family room, laundry room. At present being used as rental property. $600 for 3 Br 1 Ba and $400 for the efficiency apartment

18. 2026-01-14
    listed $149,900 Active 263-char remark

    Show marketing remark (263 chars)

    Turn of the century home that has been well maintained and located in the historic downtown Magee. Featuring 3 Br 2 Ba, large kitchen, family room, laundry room. At present being used as rental property. $600 for 3 Br 1 Ba and $400 for the efficiency apartment

19. 2025-03-31
    historical
20. 2024-03-07
    listed $149,900 Active
21. 2015-09-16
    soldstatus
22. 2014-07-11
    listed $90,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $20,760
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,361
• Taxable income: $1,683
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $3,565/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 · 12 photos

Average 55/100 Moderate rehab

This property is in average condition with some minor repairs and maintenance needed. Painting the exterior and landscaping would significantly improve its curb appeal and value.

Repairs flagged

• Minor Landscaping — Some areas of the lawn appear overgrown
• Minor Exterior paint — Some areas of the exterior siding appear faded

Value-add opportunities

• Both Painting exterior siding — Fresh paint would improve curb appeal and home value
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Some areas of the lawn appear overgrown	Minor	$500–3,000
Exterior paint · Some areas of the exterior siding appear faded	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior siding — Fresh paint would improve curb appeal and home value ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value ↑

ⓘ 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: Simpson County School District
• NCES district ID: 2803990
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,826
• Composite: 17.46/100
• National rank: #9063
• State rank: #90 of 130 in MS

Livability — Magee

• Score: 63/100
• State rank: #158
• US rank: #15438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Magee, MS
• Population (ZIP): 8,927

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 26,197 people
• By 2030: 25,474 · -2.8%
• By 2040: 23,811 · -9.1%
• By 2050: 22,024 · -15.9%
• By 2075: 17,701 · -32.4%
• By 2100: 13,732 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 28% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+36.7) · D 31.4% · R 68.1%
• 2008→2024 swing: -14.3pp toward R · 2008: -22.4pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+30.4 2016: R+30.9 2012: R+22.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 161.8264
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+66.6% since first listed

7 events — show timeline

• 2026-04-29 Relisted — MLSU
• 2026-04-15 Pending — MLSU
• 2026-01-14 Listed $149,900 MLSU
• 2025-03-31 Listing Removed — MLSU
• 2024-03-07 Listed $149,900 MLSU
• 2015-09-16 Sold (MLS) — MLSU
• 2014-07-11 Listed $90,000 MLSU