317 W Percy St · Greenwood, MS 38930

$19,000

2 bd · 1.0 ba · 562 sqft · SingleFamily public records · 156 Days on market

Built 1935 4,791 sqft lot $34/sqft · 45% above area Est $13k · 45% over ↓ 14% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

Key facts

• 4,791 sq ft lot
• 2 parking spots
• Built 1935

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $19k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($406 rent vs $19k).
• Recommended offer: $17k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 4.7% in Greenwood — 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 71/100 on livability (#31 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D, amenities F, commute F.
• Market conditions: 101 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 9 units permitted in Leflore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $131 of loan paydown is wiped out by about $570 of value loss. Plan a longer hold.
• Leflore County population projected at -29% 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 $5k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $3k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $16,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 2.14% ✓
• Cap rate: 17.78%
• Cash-on-cash: 41.02%
• DSCR: 2.83
• GRM: 3.9

CMA / ARV

• ARV (median comp): $13,097
• List price: $19,000
• Delta: 45.07%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 37.6%
• Equity multiple: 2.60×
• Total profit: $8,516
• Equity at exit: $2,833

10-year hold

• IRR: 44.1%
• Equity multiple: 5.21×
• Total profit: $22,376
• Equity at exit: $1,643

Cash invested: $5,320 (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 38930

• Home prices YoY: -18.6%
• Active inventory: 101
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $406 medium
• Mortgage (P&I): −$100
• Tax from tax record: −$32 /mo · $379/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$85
• Net cashflow: $182

Break-even live

Break-even rent $176

Max offer price $19,000

Occupancy floor 50%

Sensitivity live

Price	-10% $193	-5% $187	+0% $182	+5% $176	+10% $171
Rent	-10% $150	-5% $166	+0% $182	+5% $198	+10% $214
Rate	-1.0pp $191	-0.5pp $187	base $182	+0.5pp $177	+1.0pp $172

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Avenue G Greenwood, MS	2.0	1.0	672	$450	$0.67	45d	1	0.50mi
707 Broad St Greenwood, MS	1.0	1.0	672	$350	$0.52	45d	1	0.64mi

Listing history 22 events

1. 2026-06-21
   days on market $19,000 Active 156 DOM
2. 2026-06-18
   days on market $19,000 Active 154 DOM
3. 2026-06-17
   days on market $19,000 Active 153 DOM
4. 2026-06-16
   days on market $19,000 Active 152 DOM
5. 2026-06-15
   days on market $19,000 Active 151 DOM
6. 2026-06-13
   days on market $19,000 Active 149 DOM
7. 2026-06-12
   days on market $19,000 Active 148 DOM
8. 2026-06-09
   days on market $19,000 Active 145 DOM
9. 2026-06-08
   days on market $19,000 Active 144 DOM
10. 2026-06-07
    days on market $19,000 Active 143 DOM
11. 2026-06-04
    days on market $19,000 Active 139 DOM
12. 2026-06-02
    days on market $19,000 Active 138 DOM
13. 2026-06-01
    days on market $19,000 Active 137 DOM
14. 2026-05-31
    days on market $19,000 Active 136 DOM
15. 2026-04-13
    status Active 304-char remark

    Show marketing remark (304 chars)

    Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

16. 2026-04-13
    status Active

    Show marketing remark (304 chars)

    Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

17. 2026-04-10
    historical 304-char remark

    Show marketing remark (304 chars)

    Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

18. 2026-03-04
    price $19,000

    Show marketing remark (304 chars)

    Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

19. 2026-03-04
    price $19,000 304-char remark

    Show marketing remark (304 chars)

    Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

20. 2026-01-13
    listed $22,000 Active
21. 2026-01-10
    listed $22,000 Active 304-char remark

    Show marketing remark (304 chars)

    Investor Special! 2BR/1BA bungalow sold AS-IS with long-term tenant in place. Stable rental history and immediate cash flow. Property will not be delivered vacant. Ideal buy-and-hold opportunity for local investors. Contact for pricing and rent details and showing instructions. Do not distrub occupant.

22. 2003-02-03
    soldstatus

ⓘ 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: $379 · $32/mo
• Projected year-2 tax: $379 · $32/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 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $4,876
• − Mortgage interest: −$1,064
• − Property taxes: −$379
• − Insurance: −$95
• − Repairs & maintenance: −$390
• − Management: −$390
• − Depreciation: −$553
• Taxable income: $2,005
• Est. tax owed @ 24.0%: −$481
• After-tax cash flow: $1,701/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)

No district data.

Livability — Greenwood

• Score: 71/100
• State rank: #31
• US rank: #6625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, MS
• Population (ZIP): 23,326

Population outlook (Leflore County) Hauer SSP2

• Today (2025): 27,008 people
• By 2030: 25,362 · -6.1%
• By 2040: 22,049 · -18.4%
• By 2050: 19,188 · -29.0%
• By 2075: 13,543 · -49.9%
• By 2100: 8,913 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 25% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Leflore

• 2024 margin: Solid D (+38.5) · D 68.7% · R 30.3%
• 2008→2024 swing: +1.7pp toward D · 2008: 36.8pp · 2024: 38.5pp
• All cycles: 2024: D+38.5 2020: D+41.5 2016: D+41.0 2012: D+45.8 2008: D+36.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.32%
• Current HPI: 150.2668
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-13.6% since first listed

8 events — show timeline

• 2026-04-13 Relisted — MLSU
• 2026-04-13 Relisted — NCMBR
• 2026-04-10 Listing Removed — MLSU
• 2026-03-04 Price Changed $19,000 NCMBR
• 2026-03-04 Price Changed $19,000 MLSU
• 2026-01-13 Listed $22,000 NCMBR
• 2026-01-10 Listed $22,000 MLSU
• 2003-02-03 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2025): $379 · +21.4% YoY. Source: county tax records.