200 Wildwood Ter

Kosciusko, MS 39090

$1,425,000B-

48 bd · 48.0 ba · 2,905 sqft · Built 1980 · MultiFamily · Active · 171 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $23,737/mo
• Mortgage (P&I): −$7,473
• Tax + insurance: −$1,504
• HOA: −$0
• Vac / Maint / Mgmt: −$4,985
• Net cashflow: $9,775/mo
• Annual: $117,305/yr
• Cap rate: 14.52%
• Cash-on-cash: 29.40%
• DSCR: 2.31
• 1% rule: 1.67%
• Cash to close: $399,000

Investor read

• This is a 24 × 2-bed/2.0-bath units multifamily listed at $1.43M.
• At list price, monthly cash flow is $10k ($117k/yr) — positive. Per door: $407/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.43M).
• It's been on market 171 days — a 12% lower offer ($1.25M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.25M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $43k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#33 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Kosciusko School District (town): math 37% / reading 34% proficiency, ranked #54 of 130 in MS (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kosciusko Lower Elem (433 students, 99% FRL); Kosciusko Junior High School (math 48% / reading 33%, grade F, #60 of 179 statewide, top 37%, 500 students, 99% FRL); Kosciusko Senior High School (math 12% / reading 47%, grade F, #91 of 197 statewide, top 49%, 604 students, 100% FRL) — zoned schools average 99% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 3 units permitted in Attala County in 2024 (0 in 5+ unit buildings).
• Attala County population projected at -24% 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 $399k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 58% 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.

Questions for listing agent

• It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.