101 Lexington Dr · Hattiesburg, MS 39402

$629,900

None bd · None ba · — sqft · MultiFamily · 113 Days on market

Built 1983 Good condition ↓ 3% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

If you have a rental house and are ready for multifamily, this is a great starter. 8-plex with nice curb appeal. Lamar school district. All units are 2-bedroom. It comes with an additional lot where you could possibly duplicate it (with county approval). 3-year-old roof that is a 30-year architectural shingle. Easy to show, seller is keeping one unit vacant for showings.

Key facts

• 3-year-old roof
• Additional lot
• Built 1983

Tags

• LAMAR SCHOOL DISTRICT
• ADDITIONAL LOT
• 3-YEAR-OLD ROOF

Property features AI

Finance

• Financial info: Annual property tax approximately $4,258.74

Exterior

• Home design: Multi-family residential income property
• Construction: Brick veneer exterior
• Exterior features: Lot in the Westhills subdivision; Approximately 11,200 sq ft lot

What this means for you Summary

Snapshot

• This is a multifamily listed at $630k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $630k).
• Recommended offer: $573k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.0% in Hattiesburg — 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 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment F.
• Lamar County School District (rural): math 48% / reading 46% proficiency, ranked #18 of 130 in MS (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 499 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 45 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).
• At $8,742/mo this rent would consume 139% of the median local household income ($75k/yr) (locally 864% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Lamar County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $176k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($573k) is reasonable based on typical stale-listing flexibility.
• 6 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $573,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.39% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.37%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $153,356
• List price: $629,900
• Delta: 310.74%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59 Golf Course Rd	0.14mi	8/4.0	2,340	17mo	$235,000	$100	67
23 Golf Course Rd	0.14mi	—/—	—	20mo	$3,550,000	—	64

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.36×
• Total profit: $63,935
• Equity at exit: $93,920

10-year hold

• IRR: 18.7%
• Equity multiple: 2.58×
• Total profit: $279,097
• Equity at exit: $54,462

Cash invested: $176,372 (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 39402

• Rents YoY: 3.4%
• Active inventory: 499
• Price-to-rent: 48.0×

Monthly cashflow live

• Estimated rent: $8,742 high
• Mortgage (P&I): −$3,303
• Tax est. 1.5%: −$787 /mo · $9,448/yr
• Insurance: −$262
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,836
• Net cashflow: $2,553

Break-even live

Break-even rent $5,510

Max offer price $629,900

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$8,744
Total (8 units)			$8,742

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: $157,475
• Closing costs: $18,897
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
275 Westhills Dr Hattiesburg, MS	2.0	2.0	1000	$865	$0.86	21d	1	0.07mi
23 Golf Course Rd Hattiesburg, MS	1.0	1.0	750	$875	$1.17	44d	3	0.11mi
23 Golf Course Rd Unit 18 Hattiesburg, MS	1.0	1.0	750	$850	$1.13	21d	1	0.11mi
23 Golf Course Rd Unit 29 Hattiesburg, MS	1.0	1.0	750	$900	$1.20	21d	1	0.11mi
100 Breckenridge Dr Hattiesburg, MS	1.0–3.0	1.0–3.0	1036	$1,399	$1.35	21d	20	0.57mi
109 Shemper Dr Hattiesburg, MS	2.0	1.5	1100	$950	$0.86	21d	1	0.64mi
102 Ellis Dr Hattiesburg, MS	2.0	1.5	1100	$1,100	$1.00	21d	1	0.71mi
2 Gunnison Dr Hattiesburg, MS	3.0	2.0	—	$1,900	—	21d	1	0.72mi
108 Ellis Dr Unit 108 Ellis Drive-Unit 3 Hattiesburg, MS	2.0	1.5	1100	$1,100	$1.00	44d	1	0.72mi
603 Thornhill Dr Hattiesburg, MS	3.0	2.0	—	$1,300	—	21d	1	1.09mi
22 Campbell Scenic Dr Hattiesburg, MS	1.0	1.0	575	$1,475	$2.57	21d	1	1.12mi
22 Campbell Scenic Dr Hattiesburg, MS	2.0	2.0	1201	$1,478	$1.23	44d	1	1.12mi
5063 W 4th St Hattiesburg, MS	3.0	1.0	—	$1,150	—	21d	1	1.13mi
700 Beverly Hills Rd Hattiesburg, MS	2.0	2.0	1247	$1,668	$1.34	44d	1	1.16mi
3807 Newhaven Dr Hattiesburg, MS	2.0	1.0	665	$910	$1.37	44d	3	1.17mi
4124 W 4th St Hattiesburg, MS	1.0–2.0	1.0–2.0	1350	$1,050	$0.78	21d	1	1.17mi
520 N 38th Ave Unit 70 Hattiesburg, MS	2.0	1.5	1109	$1,049	$0.95	44d	1	1.20mi
520 N 38th Ave Apt 91 Hattiesburg, MS	1.0	1.0	737	$899	$1.22	44d	1	1.20mi
29 Park Pl Hattiesburg, MS	1.0–3.0	1.0–2.5	1231	$1,870	$1.52	21d	15	1.21mi
216 Westover Dr Hattiesburg, MS	2.0	2.0	1036	$1,150	$1.11	44d	1	1.22mi
201 Blue Gable Rd Hattiesburg, MS	1.0–2.0	1.0–2.5	1052	$1,015	$0.96	21d	1	1.26mi
3612 W 7th St Hattiesburg, MS	1.0	1.0	562	$800	$1.42	44d	1	1.29mi
409 N 39th Ave Unit 11 Hattiesburg, MS	3.0	2.5	1200	$1,327	$1.11	21d	1	1.31mi
4001 Mable St Hattiesburg, MS	2.0	1.0	771	$850	$1.10	44d	1	1.34mi
200 Blue Gable Rd Hattiesburg, MS	1.0–3.0	1.0–2.5	1227	$975	$0.79	21d	1	1.37mi
3414 W 7th St Hattiesburg, MS	1.0–4.0	1.0–2.0	1075	$1,116	$1.04	44d	1	1.44mi
300 N 38th Ave Apt 26 Hattiesburg, MS	2.0	1.5	1070	$1,035	$0.97	21d	1	1.48mi
300 N 38th Ave Unit 46 Hattiesburg, MS	2.0	1.5	1070	$1,035	$0.97	44d	1	1.48mi
318 N 38th Ave Hattiesburg, MS	2.0	2.0	1200	$1,060	$0.88	44d	2	1.48mi
3310 W 7th St Hattiesburg, MS	1.0	1.0	750	$849	$1.13	21d	1	1.49mi

Listing history 27 events

1. 2026-06-19
   days on market $629,900 Active 113 DOM
2. 2026-06-18
   days on market $629,900 Active 112 DOM
3. 2026-06-17
   days on market $629,900 Active 111 DOM
4. 2026-06-16
   days on market $629,900 Active 110 DOM
5. 2026-06-15
   days on market $629,900 Active 109 DOM
6. 2026-06-14
   days on market $629,900 Active 107 DOM
7. 2026-06-13
   days on market $629,900 Active 106 DOM
8. 2026-06-10
   days on market $629,900 Active 104 DOM
9. 2026-06-09
   days on market $629,900 Active 103 DOM
10. 2026-06-08
    days on market $629,900 Active 102 DOM
11. 2026-06-07
    days on market $629,900 Active 101 DOM
12. 2026-06-05
    days on market $629,900 Active 98 DOM
13. 2026-06-02
    days on market $629,900 Active 96 DOM
14. 2026-06-01
    days on market $629,900 Active 95 DOM
15. 2026-05-31
    days on market $629,900 Active 94 DOM
16. 2026-05-30
    days on market $629,900 Active 93 DOM
17. 2026-04-03
    price $629,900
18. 2026-02-26
    listed $649,000 Active
19. 2026-02-21
    listed $700
20. 2026-02-11
    historical $700
21. 2026-01-16
    listed $700
22. 2025-12-15
    historical $700
23. 2025-11-19
    listed $700
24. 2025-11-13
    historical $700
25. 2025-10-25
    listed $700
26. 2025-08-01
    historical $800
27. 2025-07-30
    listed $800

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $104,904
• − Mortgage interest: −$35,284
• − Property taxes: −$9,448
• − Insurance: −$3,150
• − Repairs & maintenance: −$8,392
• − Management: −$8,392
• − Depreciation: −$18,324
• Taxable income: $21,913
• Est. tax owed @ 24.0%: −$5,259
• After-tax cash flow: $25,378/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 · 10 photos

Good 75/100 Cosmetic rehab

This 8-unit multifamily property is in good condition with a good roof and well-maintained exterior. Minor updates to the exterior and carpet would significantly enhance its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and reduces maintenance costs ↑

ⓘ 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: Lamar County School District
• NCES district ID: 2802400
• Math proficiency: 48% ▼ -13.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $54,742
• Composite: 40.77/100
• National rank: #3645
• State rank: #18 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lamar County · 44,620 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 44,620
• Household income: $75,220
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 864.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 71,826 people
• By 2030: 77,309 · +7.6%
• By 2040: 87,733 · +22.1%
• By 2050: 97,289 · +35.5%
• By 2075: 115,347 · +60.6%
• By 2100: 125,601 · +74.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+48.8) · D 25.0% · R 73.8% · Other 1.3%
• 2008→2024 swing: +7.0pp toward D · 2008: -55.8pp · 2024: -48.8pp
• All cycles: 2024: R+48.8 2020: R+46.9 2016: R+55.6 2012: R+54.6 2008: R+55.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.41%
• Current HPI: 163.5142
• Rent YoY: ▲ 3.37%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-2.9% since first listed

11 events — show timeline

• 2026-04-03 Price Changed $629,900 HAAR
• 2026-02-26 Listed $649,000 HAAR
• 2026-02-21 Listed for Rent $700 RENTALBEAST
• 2026-02-11 Rental Removed $700 RENTALBEAST
• 2026-01-16 Listed for Rent $700 RENTALBEAST
• 2025-12-15 Rental Removed $700 RENTALBEAST
• 2025-11-19 Listed for Rent $700 RENTALBEAST
• 2025-11-13 Rental Removed $700 RENTALBEAST
• 2025-10-25 Listed for Rent $700 RENTALBEAST
• 2025-08-01 Rental Removed $800 RENTALBEAST
• 2025-07-30 Listed for Rent $800 RENTALBEAST