112 Josephine St · Brookhaven, MS 39601

$76,000

2 bd · 1.0 ba · 1,377 sqft · SingleFamily public records · 44 Days on market

Built 1940 0.37 ac lot Est $131k · 42% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Absolutely charming home!! This one truly takes you back to the turn of the century. Covered front porch for sitting and watching the world go by. Beautiful wood floors, separate dining room, country kitchen and 2 roomy bedrooms. Potential to expand into the attic area. This home is really priced right. One look should sell you!!

Key facts

• Original wood floors
• Deep mature lot
• 0.37 acre lot

Tags

• LARGE COVERED FRONT PORCH
• ORIGINAL WOOD FLOORS
• DEEP MATURE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $74k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 5.0% in Brookhaven — 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 66/100 on livability (#96 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+; Watch: schools C-, amenities F, commute F.
• Brookhaven School District (town): math 29% / reading 28% proficiency, ranked #73 of 130 in MS (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 172 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $525 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lincoln County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 91% 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 $73,720 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.74% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.20%
• DSCR: 2.25
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $130,815
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
555 Olive	0.08mi	3/2.0 (+1)	1,400 (+2%)	12mo	$125,000	$89	74
160 Cherry St	0.10mi	2/1.0	1,552 (+13%)	2mo	$39,900	$26	72
513 N Jackson St	0.12mi	3/1.5 (+1)	1,421 (+3%)	14mo	$135,000	$95	70
321 W Congress St	0.28mi	2/1.0	1,327 (-4%)	13mo	$155,000	$117	70
139 Josephine	0.04mi	2/1.0	1,244 (-10%)	20mo	$75,000	$60	66
108 Lucas St	0.60mi	3/1.5 (+1)	1,398 (+2%)	4mo	$65,000	$46	60
313 W Congress St	0.27mi	3/2.0 (+1)	1,500 (+9%)	9mo	$184,900	$123	56
850 W Congress St	0.73mi	2/1.0	1,176 (-15%)	4mo	$35,000	$30	38
430 Crider Dr	0.68mi	3/2.0 (+1)	1,544 (+12%)	7mo	$152,500	$99	33
417 E Chickasaw	0.67mi	2/1.0	1,197 (-13%)	24mo	$129,000	$108	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 22.4%
• Equity multiple: 1.92×
• Total profit: $19,570
• Equity at exit: $11,332

10-year hold

• IRR: 30.5%
• Equity multiple: 3.73×
• Total profit: $58,190
• Equity at exit: $6,571

Cash invested: $21,280 (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 39601

• Home prices YoY: -26.6%
• Active inventory: 172
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$399
• Tax from tax record: −$116 /mo · $1,397/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $500

Break-even live

Break-even rent $692

Max offer price $76,000

Occupancy floor 57%

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: $19,000
• Closing costs: $2,280
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1081 S Church St Brookhaven, MS	2.0	2.0	1694	$1,325	$0.78	44d	1	1.26mi

Listing history 9 events

1. 2026-01-22
   status Pending
2. 2026-01-13
   status Active
3. 2026-01-05
   status Pending
4. 2025-11-30
   listed $76,000 Active
5. 2023-10-04
   soldstatus
6. 2017-11-16
   soldstatus
7. 2017-11-15
   soldstatus 337-char remark

   Show marketing remark (337 chars)

   Absolutely charming home!! This one truly takes you back to the turn of the century. Covered front porch for sitting and watching the world go by. Beautiful wood floors, separate dining room, country kitchen and 2 roomy bedrooms. Potential to expand into the attic area. This home is really priced right. One look should sell you!!

8. 2015-03-24
   listed $45,000 337-char remark

   Show marketing remark (337 chars)

   Absolutely charming home!! This one truly takes you back to the turn of the century. Covered front porch for sitting and watching the world go by. Beautiful wood floors, separate dining room, country kitchen and 2 roomy bedrooms. Potential to expand into the attic area. This home is really priced right. One look should sell you!!

9. 2014-03-10
   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: $1,397 · $116/mo
• Projected year-2 tax: $1,397 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 91% 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: $15,900
• − Mortgage interest: −$4,257
• − Property taxes: −$1,397
• − Insurance: −$380
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$2,211
• Taxable income: $5,111
• Est. tax owed @ 24.0%: −$1,227
• After-tax cash flow: $4,775/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: Brookhaven School District
• NCES district ID: 2800840
• Math proficiency: 29% ▼ -3.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $34,498
• Composite: 23.49/100
• National rank: #7874
• State rank: #73 of 130 in MS

Livability — Brookhaven

• Score: 66/100
• State rank: #96
• US rank: #12022

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brookhaven, MS
• City population: 23,748
• Population (ZIP): 23,748

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 34,188 people
• By 2030: 33,627 · -1.6%
• By 2040: 32,089 · -6.1%
• By 2050: 29,981 · -12.3%
• By 2075: 23,581 · -31.0%
• By 2100: 16,413 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 36% Hispanic / Latino 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+45.4) · D 27.0% · R 72.3%
• 2008→2024 swing: -13.2pp toward R · 2008: -32.2pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+39.0 2016: R+40.1 2012: R+31.1 2008: R+32.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.93%
• Current HPI: 159.7072
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+68.9% since first listed

9 events — show timeline

• 2026-01-22 Pending — MLSU
• 2026-01-13 Relisted — MLSU
• 2026-01-05 Pending — MLSU
• 2025-11-30 Listed $76,000 MLSU
• 2023-10-04 Sold (Public Records) — Public Records
• 2017-11-16 Sold (Public Records) — Public Records
• 2017-11-15 Sold (MLS) — MLSU
• 2015-03-24 Listed $45,000 MLSU
• 2014-03-10 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2024): $1,397 · -0.6% YoY. Source: county tax records.