17 Old Devereaux St · Natchez, MS 39120

$279,000

4 bd · 3.0 ba · 3,200 sqft · SingleFamily · 111 Days on market

Built 1840 Poor condition 0.29 ac lot $87/sqft · 6% below area Est $298k · 6% 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 +27.6/30.0
• ARV discount +10.3/15.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.0/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own a piece of history in the Holy Family Catholic Church Historic District. This home, also listed on the National Register of Historic Places, was home to one of the first African American doctors in Natchez and then later became a small school for the neighborhood children. This home features two floors and a finished-out basement. Formally home to the Wharlest Jackson Elks Lodge, many of the rooms were multifunctional for a meeting space. The home has four+ bedrooms and 2+ baths. Lots of the original millwork and, though covered, the original hardwood floors. The front porch has been enclosed so the beautiful mouldings and windows have been preserved from the weather. So many possibilities here - you don't want to miss out.

Key facts

• 0.29 acre lot
• Built 1840
• Listed 111 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $279k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $279k).
• Recommended offer: $254k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 4.4% in Natchez — 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 63/100 on livability (#156 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B, housing B; Watch: health & safety C-, schools F, amenities F.
• Natchez-Adams School District (town): math 8% / reading 19% proficiency, ranked #114 of 130 in MS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 283 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6 units permitted in Adams 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 $8k of value loss. Plan a longer hold.
• Adams County population projected at -21% 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 $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($254k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $253,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1840 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.25% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.86%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (median comp): $297,541
• List price: $279,000
• Delta: -6.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Somerset Dr	0.55mi	5/3.0 (+1)	2,887 (-10%)	10mo	$215,000	$74	45
307 Winchester Rd	0.66mi	3/2.5 (-1)	2,963 (-7%)	16mo	$395,000	$133	37

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $8,145
• Equity at exit: $41,600

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $75,942
• Equity at exit: $24,123

Cash invested: $78,120 (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 39120

• Active inventory: 283
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $837

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,030	-5% $933	+0% $837	+5% $740	+10% $644
Rent	-10% $560	-5% $699	+0% $837	+5% $975	+10% $1,113
Rate	-1.0pp $977	-0.5pp $908	base $837	+0.5pp $765	+1.0pp $691

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Devereaux Dr Natchez, MS	3.0	2.0	4000	$3,500	$0.88	44d	1	0.36mi

Listing history 2 events

1. 2026-05-04
   status Pending 737-char remark

   Show marketing remark (737 chars)

   Own a piece of history in the Holy Family Catholic Church Historic District. This home, also listed on the National Register of Historic Places, was home to one of the first African American doctors in Natchez and then later became a small school for the neighborhood children. This home features two floors and a finished-out basement. Formally home to the Wharlest Jackson Elks Lodge, many of the rooms were multifunctional for a meeting space. The home has four+ bedrooms and 2+ baths. Lots of the original millwork and, though covered, the original hardwood floors. The front porch has been enclosed so the beautiful mouldings and windows have been preserved from the weather. So many possibilities here - you don't want to miss out.

2. 2026-01-08
   listed $279,000 Active 737-char remark

   Show marketing remark (737 chars)

   Own a piece of history in the Holy Family Catholic Church Historic District. This home, also listed on the National Register of Historic Places, was home to one of the first African American doctors in Natchez and then later became a small school for the neighborhood children. This home features two floors and a finished-out basement. Formally home to the Wharlest Jackson Elks Lodge, many of the rooms were multifunctional for a meeting space. The home has four+ bedrooms and 2+ baths. Lots of the original millwork and, though covered, the original hardwood floors. The front porch has been enclosed so the beautiful mouldings and windows have been preserved from the weather. So many possibilities here - you don't want to miss out.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$8,116
• Taxable income: $5,955
• Est. tax owed @ 24.0%: −$1,429
• After-tax cash flow: $8,613/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 · 12 photos

Poor 20/100 Extensive rehab

This historic home requires extensive repairs and updates to bring it up to modern standards and improve its resale and rental value.

Repairs flagged

• Major roof — Missing shingles and visible damage
• Major exterior walls — Peeling paint and exposed brick
• Major flooring — Worn carpet and potential subfloor issues
• Major windows — Cracked frames and missing glass

Value-add opportunities

• Resale New roof — Critical to safety and appearance
• Resale Exterior paint and repairs — Enhances curb appeal
• Resale Flooring replacement — Improves living space and value
• Resale New windows — Enhances natural light and appearance
• Both HVAC system upgrade — Improves comfort and energy efficiency
• Resale Landscaping and curb appeal — Enhances overall appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Missing shingles and visible damage	Major	$15,000–50,000
exterior walls · Peeling paint and exposed brick	Major	$15,000–50,000
flooring · Worn carpet and potential subfloor issues	Major	$15,000–50,000
windows · Cracked frames and missing glass	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New roof — Critical to safety and appearance ↑
• Resale Exterior paint and repairs — Enhances curb appeal ↑
• Resale Flooring replacement — Improves living space and value ↑
• Resale New windows — Enhances natural light and appearance ↑
• Both HVAC system upgrade — Improves comfort and energy efficiency ↑
• Resale Landscaping and curb appeal — Enhances overall appearance ↑

ⓘ 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: Natchez-Adams School District
• NCES district ID: 2803030
• Math proficiency: 8% ▼ -16.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $28,288
• Composite: 10.41/100
• National rank: #9785
• State rank: #114 of 130 in MS

Livability — Natchez

• Score: 63/100
• State rank: #156
• US rank: #15334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Natchez, MS
• Population (ZIP): 29,212

Population outlook (Adams County) Hauer SSP2

• Today (2025): 28,614 people
• By 2030: 27,405 · -4.2%
• By 2040: 24,914 · -12.9%
• By 2050: 22,554 · -21.2%
• By 2075: 17,096 · -40.3%
• By 2100: 12,156 · -57.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 56% White 37% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Adams

• 2024 margin: D (+13.9) · D 56.5% · R 42.6%
• 2008→2024 swing: -1.7pp toward R · 2008: 15.6pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+16.1 2016: D+14.7 2012: D+18.0 2008: D+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.67%
• Current HPI: 112.2371
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-04 Pending — MLSU
• 2026-01-08 Listed $279,000 MLSU