68 Robert Miller Rd · Leakesville, MS 39451

$40,000

3 bd · 1.0 ba · 1,848 sqft · SingleFamily public records · 43 Days on market

Built 1965 1.00 ac lot $22/sqft · 90% below area

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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 +15.0/30.0
• Appreciation +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

INVESTOR / PROJECT OPPORTUNITY on approximately 1 acre in a private, rural setting. Property includes an existing homesite, driveway access and temporary power installed. IMPORTANT DISCLOSURE: The property and all improvements are in distressed condition, water intrusion, deterioration, and/or other unknown defects. Portions of the structure may be incomplete, unsafe, or not compliant with current building codes. Property is being sold AS-IS, WHERE-IS, WITH ALL FAULTS with no warranties expressed or implied by seller or brokerage. Condition of all structures, foundation, roof, electrical, plumbing, septic, well, utilities, and any improvements is unknown and has not been verified. Buyer is

Key facts

• 1 acre lot
• Built 1965
• Listed 42 days

Property features AI

Finance

• Other: Living area reported as 1,800 (assessor); Year-built source: assessor

Exterior

• Parking: On-site parking
• Utilities: Public water available; Septic tank; Electricity available; Sewer connected
• Home design: Single-family house; One level (single story); Entry level on main floor
• Construction: Raised foundation; Construction materials: see remarks; Fixer condition
• Exterior features: One-acre lot; Lot includes a driveway and gated entry (see directions to first driveway and gate)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No central cooling
• Interior features: See remarks (details available in listing remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#109 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D-, amenities F, commute F.
• Greene County School District (rural): math 28% / reading 34% proficiency, ranked #67 of 130 in MS (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 24 active listings in the ZIP; 2 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (8.8% local appreciation)).
• Greene County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1965 — 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. 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. 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.
6. 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.
7. 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: 5.59% ✓
• Cap rate: 51.12%
• Cash-on-cash: 160.10%
• DSCR: 8.12
• GRM: 1.5

CMA / ARV

• ARV (median comp): $409,560
• List price: $40,000
• Delta: -90.23%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

8.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.17×
• Total profit: $113,891
• Equity at exit: $32,741

10-year hold

• IRR: —
• Equity multiple: 24.22×
• Total profit: $260,010
• Equity at exit: $67,371

Cash invested: $11,200 (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 39451

• Home prices YoY: 5.7%
• Active inventory: 24
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$46 /mo · $550/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $1,494

Break-even live

Break-even rent $345

Max offer price $40,000

Occupancy floor 28%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $40,000 Active 43 DOM
2. 2026-06-17
   days on market $40,000 Active 42 DOM
3. 2026-06-16
   days on market $40,000 Active 41 DOM
4. 2026-06-15
   days on market $40,000 Active 40 DOM
5. 2026-06-13
   days on market $40,000 Active 38 DOM
6. 2026-06-12
   days on market $40,000 Active 37 DOM
7. 2026-06-09
   days on market $40,000 Active 34 DOM
8. 2026-06-08
   days on market $40,000 Active 33 DOM
9. 2026-06-07
   days on market $40,000 Active 32 DOM
10. 2026-06-07
    days on market $40,000 Active 31 DOM
11. 2026-06-04
    days on market $40,000 Active 28 DOM
12. 2026-06-02
    days on market $40,000 Active 27 DOM
13. 2026-06-01
    days on market $40,000 Active 26 DOM
14. 2026-05-31
    days on market $40,000 Active 25 DOM
15. 2026-05-06
    listed $40,000 Active 948-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: $550 · $46/mo
• Projected year-2 tax: $550 · $46/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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $26,833
• − Mortgage interest: −$2,241
• − Property taxes: −$550
• − Insurance: −$200
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$1,164
• Taxable income: $18,386
• Est. tax owed @ 24.0%: −$4,413
• After-tax cash flow: $13,519/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: Greene County School District
• NCES district ID: 2801590
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $41,432
• Composite: 26.2/100
• National rank: #7264
• State rank: #67 of 130 in MS

Livability — Leakesville

• Score: 65/100
• State rank: #109
• US rank: #12647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,957

Population outlook (Greene County) Hauer SSP2

• Today (2025): 12,029 people
• By 2030: 11,879 · -1.2%
• By 2040: 11,196 · -6.9%
• By 2050: 10,455 · -13.1%
• By 2075: 8,825 · -26.6%
• By 2100: 7,172 · -40.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 34% Two or more races 3% Native American 1%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+69.8) · D 14.8% · R 84.5%
• 2008→2024 swing: -18.0pp toward R · 2008: -51.7pp · 2024: -69.8pp
• All cycles: 2024: R+69.8 2020: R+65.8 2016: R+63.0 2012: R+54.1 2008: R+51.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.85%
• Current HPI: 165.5757
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-06 Listed $40,000 MLSU

Property tax history

+3.5%/yr

Latest (2025): $550 · +164.4% YoY. Source: county tax records.