2109 #22 Harris Dr · Oxford, MS 38655

$299,900

3 bd · 1.5 ba · 1,224 sqft · Townhouse public records · 7 Days on market

Built 2003 Est $315k · at est.

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Why this score? — see what drove the D 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 +11.7/30.0
• ARV discount +9.6/15.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• Rent growth +3.7/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great condo in the heart of west Oxford. Brand new paint and carpet. Please call the office to setup a showing today. Virtual Reality Tour available.

Key facts

• Built 2003
• Listed 7 days

Property features AI

Finance

• Other: Located in the Harris Grove subdivision

Exterior

• Utilities: Public water; Public sewer
• Home design: Townhouse (Residential); Townhouse/Condo style
• Construction: Stucco exterior; Slab foundation
• Exterior features: Patio; Subdivision covenant zoning

Interior

• Kitchen: Microwave; Dishwasher; Electric range; Refrigerator
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fans; Electric water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $300k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (29.4% below list).
• Recommended offer: $212k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.8% in Oxford — 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 87/100 on livability (#1 in MS, #285 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-.
• Oxford School District (town): math 53% / reading 49% proficiency, ranked #12 of 130 in MS (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bramlett Elementary School (742 students, 100% FRL); Oxford Middle School (math 55% / reading 48%, grade C, #27 of 179 statewide, top 16%, 697 students, 100% FRL); Oxford High School (math 33% / reading 49%, grade F, #49 of 197 statewide, top 25%, 1,345 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 857 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 503 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Lafayette County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,856 (29.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.71% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $314,568
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1802 W Jackson Ave #126	0.35mi	2/1.5 (-1)	1,050 (-14%)	0mo	$259,000	$247	55
1802 W Jackson Ave #19	0.35mi	2/2.0 (-1)	1,050 (-14%)	13mo	$270,000	$257	42

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 · 4.85% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.40×
• Total profit: $-50,254
• Equity at exit: $44,716

10-year hold

• IRR: -5.9%
• Equity multiple: 0.59×
• Total profit: $-34,393
• Equity at exit: $25,930

Cash invested: $83,972 (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 38655

• Rents YoY: 4.8%
• Active inventory: 857
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,119 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-87

Break-even live

Break-even rent $2,228

Max offer price $284,609

Occupancy floor 99%

Sensitivity live

Price	-10% $83	-5% $-2	+0% $-87	+5% $-171	+10% $-256
Rent	-10% $-254	-5% $-170	+0% $-87	+5% $-3	+10% $81
Rate	-1.0pp $64	-0.5pp $-10	base $-87	+0.5pp $-164	+1.0pp $-243

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Lexington Pointe Dr Oxford, MS	3.0	2.0	1432	$1,900	$1.33	46d	1	0.43mi
1810 Stafford Cv Oxford, MS	2.0	3.0	1289	$1,450	$1.12	45d	1	0.52mi
1903 Anderson Rd Oxford, MS	1.0–2.0	1.0–2.0	929	$1,484	$1.60	19d	3	0.59mi
1903 Anderson Rd Oxford, MS	1.0–2.0	1.0–2.0	845	$1,798	$2.13	5d	1	0.59mi
2216 Church St Oxford, MS	2.0	1.0	840	$1,590	$1.89	45d	2	0.74mi
2998 Old Taylor Rd Oxford, MS	1.0–3.0	1.0–2.0	1150	$2,640	$2.29	45d	27	1.30mi
2000 Oxford Way Oxford, MS	1.0–4.0	1.0–4.0	1123	$2,717	$2.42	45d	58	1.43mi

Listing history 9 events

1. 2026-06-03
   status $299,900 Pending 7 DOM
2. 2026-06-02
   days on market $299,900 Active 7 DOM
3. 2026-06-01
   days on market $299,900 Active 6 DOM
4. 2026-05-31
   days on market $299,900 Active 5 DOM
5. 2026-05-30
   days on market $299,900 Active 4 DOM
6. 2026-05-26
   listed $299,900 Active
7. 2023-10-24
   listed $275,000 Active
8. 2021-06-25
   soldstatus 149-char remark

   Show marketing remark (149 chars)

   Great condo in the heart of west Oxford. Brand new paint and carpet. Please call the office to setup a showing today. Virtual Reality Tour available.

9. 2020-09-01
   listed $123,000 149-char remark

   Show marketing remark (149 chars)

   Great condo in the heart of west Oxford. Brand new paint and carpet. Please call the office to setup a showing today. Virtual Reality Tour available.

ⓘ 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: $751 · $63/mo
• Projected year-2 tax: $2,369 · $197/mo
• Expected delta: +$1,619/yr (+$135/mo · 215.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $25,423
• − Mortgage interest: −$16,799
• − Property taxes: −$751
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,034
• − Management: −$2,034
• − Depreciation: −$8,724
• Taxable loss: −$6,418
• Est. tax savings @ 24.0%: +$1,540
• After-tax cash flow: $502/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: Oxford School District
• NCES district ID: 2803450
• Math proficiency: 53% ▼ -17.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $40,878
• Composite: 42.77/100
• National rank: #3152
• State rank: #12 of 130 in MS

Livability — Oxford

• Score: 87/100
• State rank: #1
• US rank: #285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxford, MS
• County: Lafayette County · 46,156 people
• City population: 46,156
• Metro: Oxford, MS
• Population (ZIP): 46,156
• Household income: $68,235
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 1892.0

Population outlook (Lafayette County) Hauer SSP2

• Today (2025): 66,984 people
• By 2030: 74,726 · +11.6%
• By 2040: 90,806 · +35.6%
• By 2050: 108,114 · +61.4%
• By 2075: 151,215 · +125.7%
• By 2100: 187,997 · +180.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 24% Hispanic / Latino 4% Asian 2% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Lafayette

• 2024 margin: Strong R (+21.8) · D 38.3% · R 60.0% · Other 1.7%
• 2008→2024 swing: -9.4pp toward R · 2008: -12.4pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+12.3 2016: R+14.8 2012: R+15.6 2008: R+12.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.86%
• Current HPI: 211.5486
• Rent YoY: ▲ 4.85%
• Metro: Oxford, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+143.8% since first listed

4 events — show timeline

• 2026-05-26 Listed $299,900 NCMBR
• 2023-10-24 Listed $275,000 NCMBR
• 2021-06-25 Sold (MLS) — NCMBR
• 2020-09-01 Listed $123,000 NCMBR

Property tax history

+3.4%/yr

Latest (2025): $751 · +12.3% YoY. Source: county tax records.