321 Lafayette St · Columbia, MS 39429

$169,000

None bd · None ba · — sqft · MultiFamily · 138 Days on market

Built 1950 Fair condition 0.33 ac lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

EXCEPTIONAL INVESTMENT OPPORTUNITY — Income-Producing Duplex Portfolio in Columbia, MS This rare offering includes two duplexes for a total of four 2-bedroom/1-bath units, all currently occupied and generating immediate cash flow. Located just minutes from downtown Columbia, 321 Lafayette Street sits in an established area with convenient access to shopping, dining, schools, and major roadways. Both duplexes feature new roofs and multiple recent improvements. This property is ideal for both buy-and-hold investors seeking steady income and value-add investors looking to increase rents and equity. With Columbia continuing to show steady growth and demand for quality rental housing, this property represents a smart acquisition for both new and seasoned investors. Four units. Strong location. Immediate income.

Key facts

• New roofs
• Recent improvements
• 0.33 acre lot

Tags

• INCOME PRODUCING DUPLEX
• NEW ROOFS
• RECENT IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $169k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive. Per door: $67/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#154 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B, housing B; Watch: health & safety D, amenities F, commute F.
• Columbia School District (town): math 39% / reading 39% proficiency, ranked #45 of 130 in MS (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Columbia Primary School (466 students, 100% FRL); Jefferson Middle School (math 30% / reading 30%, grade F, #88 of 179 statewide, top 49%, 373 students, 100% FRL); Columbia High School (math 32% / reading 37%, grade F, #68 of 197 statewide, top 39%, 469 students, 100% FRL) — zoned schools average 100% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Marion County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.20%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-18,602
• Equity at exit: $25,198

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-4,070
• Equity at exit: $14,612

Cash invested: $47,320 (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 39429

• Active inventory: 133
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,187 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $133

Break-even live

Break-even rent $2,018

Max offer price $169,000

Occupancy floor 89%

Sensitivity live

Price	-10% $250	-5% $192	+0% $133	+5% $75	+10% $16
Rent	-10% $-40	-5% $47	+0% $133	+5% $220	+10% $306
Rate	-1.0pp $218	-0.5pp $176	base $133	+0.5pp $89	+1.0pp $45

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,186
Total (2 units)			$2,187

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 Lafayette St Columbia, MS	2.0	2.0	—	$995	—	45d	1	0.59mi
1203 Pine Ct Columbia, MS	2.0	1.0	—	$1,200	—	45d	1	0.65mi

Listing history 25 events

1. 2026-06-22
   days on market $169,000 Active 138 DOM
2. 2026-06-21
   days on market $169,000 Active 137 DOM
3. 2026-06-21
   days on market $169,000 Active 136 DOM
4. 2026-06-18
   days on market $169,000 Active 134 DOM
5. 2026-06-17
   days on market $169,000 Active 133 DOM
6. 2026-06-16
   days on market $169,000 Active 132 DOM
7. 2026-06-15
   days on market $169,000 Active 131 DOM
8. 2026-06-13
   days on market $169,000 Active 129 DOM
9. 2026-06-12
   days on market $169,000 Active 128 DOM
10. 2026-06-09
    days on market $169,000 Active 125 DOM
11. 2026-06-08
    days on market $169,000 Active 124 DOM
12. 2026-06-07
    days on market $169,000 Active 123 DOM
13. 2026-06-07
    days on market $169,000 Active 122 DOM
14. 2026-06-04
    days on market $169,000 Active 119 DOM
15. 2026-06-02
    days on market $169,000 Active 118 DOM
16. 2026-06-01
    days on market $169,000 Active 117 DOM
17. 2026-05-31
    days on market $169,000 Active 116 DOM
18. 2026-03-09
    status Active 826-char remark

    Show marketing remark (826 chars)

    EXCEPTIONAL INVESTMENT OPPORTUNITY — Income-Producing Duplex Portfolio in Columbia, MS This rare offering includes two duplexes for a total of four 2-bedroom/1-bath units, all currently occupied and generating immediate cash flow. Located just minutes from downtown Columbia, 321 Lafayette Street sits in an established area with convenient access to shopping, dining, schools, and major roadways. Both duplexes feature new roofs and multiple recent improvements. This property is ideal for both buy-and-hold investors seeking steady income and value-add investors looking to increase rents and equity. With Columbia continuing to show steady growth and demand for quality rental housing, this property represents a smart acquisition for both new and seasoned investors. Four units. Strong location. Immediate income.

19. 2026-02-19
    status Pending 826-char remark

    Show marketing remark (826 chars)

    EXCEPTIONAL INVESTMENT OPPORTUNITY — Income-Producing Duplex Portfolio in Columbia, MS This rare offering includes two duplexes for a total of four 2-bedroom/1-bath units, all currently occupied and generating immediate cash flow. Located just minutes from downtown Columbia, 321 Lafayette Street sits in an established area with convenient access to shopping, dining, schools, and major roadways. Both duplexes feature new roofs and multiple recent improvements. This property is ideal for both buy-and-hold investors seeking steady income and value-add investors looking to increase rents and equity. With Columbia continuing to show steady growth and demand for quality rental housing, this property represents a smart acquisition for both new and seasoned investors. Four units. Strong location. Immediate income.

20. 2026-02-05
    status Active 826-char remark

    Show marketing remark (826 chars)

    EXCEPTIONAL INVESTMENT OPPORTUNITY — Income-Producing Duplex Portfolio in Columbia, MS This rare offering includes two duplexes for a total of four 2-bedroom/1-bath units, all currently occupied and generating immediate cash flow. Located just minutes from downtown Columbia, 321 Lafayette Street sits in an established area with convenient access to shopping, dining, schools, and major roadways. Both duplexes feature new roofs and multiple recent improvements. This property is ideal for both buy-and-hold investors seeking steady income and value-add investors looking to increase rents and equity. With Columbia continuing to show steady growth and demand for quality rental housing, this property represents a smart acquisition for both new and seasoned investors. Four units. Strong location. Immediate income.

21. 2026-01-28
    status Pending 826-char remark

    Show marketing remark (826 chars)

    EXCEPTIONAL INVESTMENT OPPORTUNITY — Income-Producing Duplex Portfolio in Columbia, MS This rare offering includes two duplexes for a total of four 2-bedroom/1-bath units, all currently occupied and generating immediate cash flow. Located just minutes from downtown Columbia, 321 Lafayette Street sits in an established area with convenient access to shopping, dining, schools, and major roadways. Both duplexes feature new roofs and multiple recent improvements. This property is ideal for both buy-and-hold investors seeking steady income and value-add investors looking to increase rents and equity. With Columbia continuing to show steady growth and demand for quality rental housing, this property represents a smart acquisition for both new and seasoned investors. Four units. Strong location. Immediate income.

22. 2026-01-09
    listed $169,000 Active 826-char remark

    Show marketing remark (826 chars)

    EXCEPTIONAL INVESTMENT OPPORTUNITY — Income-Producing Duplex Portfolio in Columbia, MS This rare offering includes two duplexes for a total of four 2-bedroom/1-bath units, all currently occupied and generating immediate cash flow. Located just minutes from downtown Columbia, 321 Lafayette Street sits in an established area with convenient access to shopping, dining, schools, and major roadways. Both duplexes feature new roofs and multiple recent improvements. This property is ideal for both buy-and-hold investors seeking steady income and value-add investors looking to increase rents and equity. With Columbia continuing to show steady growth and demand for quality rental housing, this property represents a smart acquisition for both new and seasoned investors. Four units. Strong location. Immediate income.

23. 2024-08-29
    soldstatus Closed 228-char remark

    Show marketing remark (228 chars)

    INVESTORS. .. 2-Duplexes with 2 BR/1 BA in each. 2 separate buildings. Total of 4 rentals. Great area close to most everything. Each have a front porch, parking area. Great rental history. 321, 323, 325 A & B Lafayette St.

24. 2024-07-04
    status Pending 228-char remark

    Show marketing remark (228 chars)

    INVESTORS. .. 2-Duplexes with 2 BR/1 BA in each. 2 separate buildings. Total of 4 rentals. Great area close to most everything. Each have a front porch, parking area. Great rental history. 321, 323, 325 A & B Lafayette St.

25. 2024-07-02
    listed $120,000 Active 228-char remark

    Show marketing remark (228 chars)

    INVESTORS. .. 2-Duplexes with 2 BR/1 BA in each. 2 separate buildings. Total of 4 rentals. Great area close to most everything. Each have a front porch, parking area. Great rental history. 321, 323, 325 A & B Lafayette St.

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $26,244
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$5,964
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$4,916
• Taxable loss: −$837
• Est. tax savings @ 24.0%: +$201
• After-tax cash flow: $1,800/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 · 4 photos

Fair 40/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. Exterior siding, roof, flooring, and interior walls all need attention.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Older roof with visible wear
• Major flooring — Worn carpet
• Major interior walls — Painted walls with visible wear

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace roof — Improves home's value and extends life
• Both Replace carpet — Freshens interior and improves rental appeal
• Both Paint interior walls — Enhances interior appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Older roof with visible wear	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace roof — Improves home's value and extends life ↑
• Both Replace carpet — Freshens interior and improves rental appeal ↑
• Both Paint interior walls — Enhances interior appearance and value ↑

ⓘ 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: Columbia School District
• NCES district ID: 2801170
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $31,192
• Composite: 31.87/100
• National rank: #5866
• State rank: #45 of 130 in MS

Livability — Columbia

• Score: 63/100
• State rank: #154
• US rank: #15293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, MS
• Population (ZIP): 16,583

Population outlook (Marion County) Hauer SSP2

• Today (2025): 22,813 people
• By 2030: 21,301 · -6.6%
• By 2040: 18,176 · -20.3%
• By 2050: 15,215 · -33.3%
• By 2075: 9,388 · -58.8%
• By 2100: 5,335 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 34% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Serbian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.6) · D 28.7% · R 70.4%
• 2008→2024 swing: -10.2pp toward R · 2008: -31.4pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+36.8 2016: R+36.0 2012: R+29.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.11%
• Current HPI: 132.3278
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+40.8% since first listed

8 events — show timeline

• 2026-03-09 Relisted — HAAR
• 2026-02-19 Pending — HAAR
• 2026-02-05 Relisted — HAAR
• 2026-01-28 Pending — HAAR
• 2026-01-09 Listed $169,000 HAAR
• 2024-08-29 Sold (MLS) — HAAR
• 2024-07-04 Pending — HAAR
• 2024-07-02 Listed $120,000 HAAR