1174 Coldwater St

North Tunica, MS 38676

$98,000C+

3 bd · 1.0 ba · 990 sqft · Built 1993 · SingleFamily · Pending · 153 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,096/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $252/mo
• Annual: $3,020/yr
• Cap rate: 9.37%
• Cash-on-cash: 11.00%
• DSCR: 1.49
• 1% rule: 1.12%
• Cash to close: $27,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 153 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($678 loan paydown + $7k appreciation (7.4% local appreciation)).
• Location reads 58/100 on livability (#276 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Tunica County School District (rural): math 13% / reading 16% proficiency, ranked #110 of 130 in MS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Robinsonville Elementary School (math 8% / reading 17%, grade F, #296 of 375 statewide, top 82%, 406 students, 100% FRL); Tunica Middle School (math 22% / reading 14%, grade F, #122 of 179 statewide, top 68%, 357 students, 100% FRL); Rosa Fort High School (math 2% / reading 12%, grade F, #186 of 197 statewide, top 96%, 447 students, 100% FRL).
• Market conditions: 13 active listings in the ZIP; 90 units permitted in Tunica County in 2024 (0 in 5+ unit buildings).
• Tunica County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.