113 Saint Paul St · Carthage, MS 39051

$115,000

3 bd · 1.0 ba · 1,120 sqft · SingleFamily · 12 Days on market

Built 1940 9,583 sqft lot $103/sqft · 28% below area Est $160k · 28% under

---

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 +16.7/30.0
• ARV discount +15.0/15.0
• Appreciation +9.5/10.0
• DSCR +5.2/10.0
• 1% rule +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Looking for an affordable starter home? Well, have I got a deal for you. Is this a perfectly manicured home that needs zero improvements? No, it is not — but it is not priced that way either. If you are looking for a good home in a safe area that you can make your own over time without breaking the bank, this is your opportunity. The home is move-in ready, but it is not decked out with high-end finishes, which makes it a great option for buyers looking for a lower entry point who do not mind making a few improvements along the way, such as painting or possibly replacing some carpet. Have your agent reach out and schedule a showing asap.

Key facts

• 9,583 sq ft lot
• 4 parking spots
• Built 1940

Property features AI

Exterior

• Parking: Carport with 4 spaces; On-site paved concrete driveway (open)
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Single-family house; One story; Vinyl exterior; Metal roof; Conventional foundation
• Construction: Vinyl construction
• Exterior features: Enclosed, screened rear porch and patio; Partial fencing; City lot

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator
• Flooring: Luxury vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: Move-in ready condition; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $72 ($861/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (14.8% below list).
• Recommended offer: $98k (14.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#243 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Leake County School District (town): math 11% / reading 22% proficiency, ranked #102 of 130 in MS (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP.

Forward outlook

• In year one you build about $11k of equity ($795 loan paydown + $10k appreciation (9.0% local appreciation)).
• Leake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,035 (14.8% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.85% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

• ARV (median comp): $159,900
• List price: $115,000
• Delta: -28.08%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Woodland Dr	0.56mi	3/1.0	1,109 (-1%)	22mo	$130,000	$117	54
308 Saint Matthew St	0.39mi	3/2.0	1,221 (+9%)	11mo	$159,000	$130	54

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

Projected returns pro-forma

8.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.83×
• Total profit: $59,048
• Equity at exit: $94,973

10-year hold

• IRR: 21.5%
• Equity multiple: 6.24×
• Total profit: $168,580
• Equity at exit: $196,277

Cash invested: $32,200 (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 39051

• Home prices YoY: 5.9%
• Active inventory: 81
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$52 /mo · $621/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $72

Break-even live

Break-even rent $890

Max offer price $115,000

Occupancy floor 88%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-15
   status Active 653-char remark
2. 2026-05-04
   status Pending 653-char remark
3. 2026-04-27
   listed $115,000 Active 653-char remark

ⓘ 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: $621 · $52/mo
• Projected year-2 tax: $909 · $76/mo
• Expected delta: +$287/yr (+$24/mo · 46.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $11,764
• − Mortgage interest: −$6,442
• − Property taxes: −$621
• − Insurance: −$575
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$3,345
• Taxable loss: −$1,102
• Est. tax savings @ 24.0%: +$264
• After-tax cash flow: $1,125/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: Leake County School District
• NCES district ID: 2802520
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $32,894
• Composite: 13.33/100
• National rank: #9538
• State rank: #102 of 130 in MS

Livability — Carthage

• Score: 59/100
• State rank: #243
• US rank: #20150

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carthage, MS
• Population (ZIP): 15,242

Population outlook (Leake County) Hauer SSP2

• Today (2025): 21,382 people
• By 2030: 20,405 · -4.6%
• By 2040: 18,208 · -14.8%
• By 2050: 15,732 · -26.4%
• By 2075: 9,562 · -55.3%
• By 2100: 5,455 · -74.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 47% Black 39% Hispanic / Latino 8% Native American 5% Two or more races 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 7%

Political lean MEDSL · Leake

• 2024 margin: Strong R (+23.4) · D 38.0% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.7pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+14.5 2016: R+14.2 2012: R+8.6 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.96%
• Current HPI: 161.5452
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

4 events — show timeline

• 2026-05-20 Pending — MLSU
• 2026-05-15 Relisted — MLSU
• 2026-05-04 Pending — MLSU
• 2026-04-27 Listed $115,000 MLSU

Property tax history

-2.4%/yr

Latest (2025): $621 · +3.8% YoY. Source: county tax records.