197 Azalea Cir · Madison, MS 39110

$235,000

3 bd · 4.0 ba · 1,296 sqft · SingleFamily public records · 3 Days on market

Built 1992 0.29 ac lot $181/sqft · at area comps Est $248k · 5% under

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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 +24.9/30.0
• ARV discount +9.8/15.0
• DSCR +8.1/10.0
• 1% rule +5.4/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 197 Azalea Circle, a charming 3 bedroom 2 bath home conveniently located near the heart of Madison, I-55, shopping, restaurants and more! This super cute home features a cozy fireplace, lots of storage in the kitchen, and lovely views of the wooded backyard from the kitchen dining area. The large private backyard features a relaxing covered porch, beautiful trees, and perennial plants and flowers. This is a rare find in Madison, so schedule an appointment now to view this very nice and affordable property.

Key facts

• Wood flooring
• Updated guest bath
• Private backyard

Tags

• PRIVATE BACKYARD
• COVERED BACK PATIO
• WOOD FLOORING
• FIREPLACE
• GRANITE COUNTER TOPS
• UPDATED GUEST BATH

Property features AI

Finance

• Other: Property listed by The Property Partners
• Financial info: Financial details not provided
• HOA & community: Community sidewalks

Exterior

• Parking: 2 garage spaces; Garage faces front with direct access and concrete driveway; 2 total parking spaces
• Security: No specific security features provided
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone available
• Home design: Single family residence (house); One level; Move-in ready
• Construction: Brick construction; Asphalt shingle roof; Slab foundation; Built area approximately 1,344 (source: public records)
• Exterior features: Fire pit; Slab patio/porch; Back yard wood fencing; Fenced lot; Sidewalks in community

Interior

• Kitchen: Dishwasher; Disposal; Free‑standing gas oven; Free‑standing gas range; Microwave; Granite counters; Eat‑in kitchen
• Bedrooms: Bedrooms info not provided
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Fireplace heating; Central air; Ceiling fan(s); Electric cooling
• Interior features: Ceiling fan(s); Eat-in kitchen; Granite counters; Tray ceiling(s); Double vanity; Aluminum frame windows; Fireplace with gas starter, hearth; wood burning in den
• Laundry & utility: Laundry room with washer and electric dryer hookups; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Cap rate 8.9% vs local median 3.7% in Madison — 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 81/100 on livability (#4 in MS, #1,556 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Madison Station Elementary School (math 76% / reading 75%, grade A, #4 of 375 statewide, top 1%, 1,035 students, 100% FRL); Madison Middle School (math 66% / reading 57%, grade B+, #6 of 179 statewide, top 3%, 1,154 students, 100% FRL); Madison Central High School (math 5% / reading 63%, grade F, #78 of 197 statewide, top 39%, 1,246 students, 100% FRL) — zoned schools average 100% FRL vs 29% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 628 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.14%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

• ARV (median comp): $247,756
• List price: $235,000
• Delta: -5.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 Glenwood Dr	0.25mi	3/2.0	1,400 (+8%)	9mo	$249,000	$178	60
122 Eastwood Dr	0.13mi	3/2.0	1,474 (+14%)	8mo	$245,000	$166	56
546 Hunters Creek Cir	0.46mi	3/2.0	1,232 (-5%)	10mo	$199,900	$162	54
104 Willow Ct	0.72mi	3/2.0	1,384 (+7%)	2mo	$234,900	$170	46
124 Azalea Cir	0.39mi	3/2.0	1,456 (+12%)	10mo	$229,500	$158	45
636 Live Oak Dr	0.50mi	3/2.0	1,474 (+14%)	3mo	$249,000	$169	43
429 S Pin Oak Dr	0.57mi	3/2.0	1,454 (+12%)	3mo	$247,500	$170	42
426 Laurel Oak Dr	0.58mi	3/2.0	1,435 (+11%)	14mo	$237,000	$165	36
536 Brentwood Dr	0.47mi	3/2.0	1,476 (+14%)	17mo	$239,900	$163	33
208 Hawthorne Dr	0.40mi	3/2.0	1,471 (+14%)	22mo	$240,000	$163	32
368 Post Oak Rd	0.75mi	3/2.0	1,470 (+13%)	7mo	$250,000	$170	29
151 Armonde Ct	0.60mi	3/2.0	1,484 (+14%)	18mo	$244,999	$165	25

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-7,197
• Equity at exit: $35,039

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $30,608
• Equity at exit: $20,319

Cash invested: $65,800 (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 39110

• Home prices YoY: -28.3%
• Rents YoY: 2.6%
• Active inventory: 628
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,434 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$91 /mo · $1,097/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $501

Break-even live

Break-even rent $1,800

Max offer price $235,000

Occupancy floor 74%

Sensitivity live

Price	-10% $634	-5% $568	+0% $501	+5% $435	+10% $368
Rent	-10% $309	-5% $405	+0% $501	+5% $597	+10% $693
Rate	-1.0pp $620	-0.5pp $561	base $501	+0.5pp $440	+1.0pp $378

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Woodgreen Dr Madison, MS	2.0	2.0	970	$2,400	$2.47	24d	1	1.25mi

Listing history 17 events

1. 2026-05-09
   status Pending 362-char remark
2. 2026-05-07
   status Active 362-char remark
3. 2026-04-25
   status Pending 362-char remark
4. 2026-04-24
   listed $235,000 Active 362-char remark
5. 2025-01-16
   soldstatus Closed 522-char remark

   Show marketing remark (522 chars)

   Welcome to 197 Azalea Circle, a charming 3 bedroom 2 bath home conveniently located near the heart of Madison, I-55, shopping, restaurants and more! This super cute home features a cozy fireplace, lots of storage in the kitchen, and lovely views of the wooded backyard from the kitchen dining area. The large private backyard features a relaxing covered porch, beautiful trees, and perennial plants and flowers. This is a rare find in Madison, so schedule an appointment now to view this very nice and affordable property.

6. 2025-01-16
   soldstatus

   Show marketing remark (522 chars)

   Welcome to 197 Azalea Circle, a charming 3 bedroom 2 bath home conveniently located near the heart of Madison, I-55, shopping, restaurants and more! This super cute home features a cozy fireplace, lots of storage in the kitchen, and lovely views of the wooded backyard from the kitchen dining area. The large private backyard features a relaxing covered porch, beautiful trees, and perennial plants and flowers. This is a rare find in Madison, so schedule an appointment now to view this very nice and affordable property.

7. 2024-12-18
   status Pending 522-char remark

   Show marketing remark (522 chars)

   Welcome to 197 Azalea Circle, a charming 3 bedroom 2 bath home conveniently located near the heart of Madison, I-55, shopping, restaurants and more! This super cute home features a cozy fireplace, lots of storage in the kitchen, and lovely views of the wooded backyard from the kitchen dining area. The large private backyard features a relaxing covered porch, beautiful trees, and perennial plants and flowers. This is a rare find in Madison, so schedule an appointment now to view this very nice and affordable property.

8. 2024-12-17
   listed $219,500 Active 522-char remark

   Show marketing remark (522 chars)

   Welcome to 197 Azalea Circle, a charming 3 bedroom 2 bath home conveniently located near the heart of Madison, I-55, shopping, restaurants and more! This super cute home features a cozy fireplace, lots of storage in the kitchen, and lovely views of the wooded backyard from the kitchen dining area. The large private backyard features a relaxing covered porch, beautiful trees, and perennial plants and flowers. This is a rare find in Madison, so schedule an appointment now to view this very nice and affordable property.

9. 2010-11-16
   soldstatus

   Show marketing remark (185 chars)

   Sold as-is. Great home in NorthPlace neighborhood. Brick 3 bedroom two bath with hardwood floors and gally style kitchen. Covered patio out back with fenced in back yard. View it today!

10. 2010-08-13
    listed $115,000

    Show marketing remark (185 chars)

    Sold as-is. Great home in NorthPlace neighborhood. Brick 3 bedroom two bath with hardwood floors and gally style kitchen. Covered patio out back with fenced in back yard. View it today!

11. 2004-05-06
    soldstatus
12. 2004-04-29
    soldstatus
13. 2004-04-29
    listed $123,500
14. 2000-12-15
    soldstatus
15. 2000-04-04
    soldstatus
16. 1995-02-27
    soldstatus
17. 1992-07-15
    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: $1,097 · $91/mo
• Projected year-2 tax: $1,857 · $155/mo
• Expected delta: +$759/yr (+$63/mo · 69.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,209
• − Mortgage interest: −$13,164
• − Property taxes: −$1,097
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − Depreciation: −$6,836
• Taxable income: $2,263
• Est. tax owed @ 24.0%: −$543
• After-tax cash flow: $5,471/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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Madison

• Score: 81/100
• State rank: #4
• US rank: #1556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, MS
• County: Madison County · 75,005 people
• City population: 50,443
• Metro: Jackson, MS
• Population (ZIP): 50,443
• Household income: $125,506
• Rent vs Own: 9.1% rent · 90.9% own
• Severe rent burden: 227.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Asian 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.99%
• Current HPI: 154.6909
• Rent YoY: ▲ 2.61%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+90.3% since first listed

18 events — show timeline

• 2026-06-15 Sold (MLS) — MLSU
• 2026-05-09 Pending — MLSU
• 2026-05-07 Relisted — MLSU
• 2026-04-25 Pending — MLSU
• 2026-04-24 Listed $235,000 MLSU
• 2025-01-16 Sold (Public Records) — Public Records
• 2025-01-16 Sold (MLS) — MLSU
• 2024-12-18 Pending — MLSU
• 2024-12-17 Listed $219,500 MLSU
• 2010-11-16 Sold (MLS) — MLSU
• 2010-08-13 Listed $115,000 MLSU
• 2004-05-06 Sold (Public Records) — Public Records
• 2004-04-29 Listed $123,500 MLSU
• 2004-04-29 Sold (MLS) — MLSU
• 2000-12-15 Sold (Public Records) — Public Records
• 2000-04-04 Sold (Public Records) — Public Records
• 1995-02-27 Sold (Public Records) — Public Records
• 1992-07-15 Sold (Public Records) — Public Records

Property tax history

-2.1%/yr

Latest (2025): $1,097 · +0.0% YoY. Source: county tax records.