102 Burdette St · Leland, MS 38756

$65,000

2 bd · 1.0 ba · 864 sqft · SingleFamily · 70 Days on market

Built 1940 Fair condition 0.37 ac lot $75/sqft · 39% below area Est $106k · 39% under

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Why this score? — see what drove the B 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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Key facts

• 0.37 acre lot
• Built 1940
• Listed 70 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#73 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Leland School District (town): math 5% / reading 15% proficiency, ranked #117 of 130 in MS (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 30 active listings in the ZIP; 10 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washington County population projected at -36% 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 $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.23%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (median comp): $105,869
• List price: $65,000
• Delta: -38.60%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $3,227
• Equity at exit: $9,692

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $20,564
• Equity at exit: $5,620

Cash invested: $18,200 (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 38756

• Active inventory: 30
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $842 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $216

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 69%

Sensitivity live

Price	-10% $261	-5% $238	+0% $216	+5% $193	+10% $171
Rent	-10% $149	-5% $183	+0% $216	+5% $249	+10% $282
Rate	-1.0pp $249	-0.5pp $232	base $216	+0.5pp $199	+1.0pp $182

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $65,000 Active 70 DOM
2. 2026-06-18
   days on market $65,000 Active 68 DOM
3. 2026-06-17
   days on market $65,000 Active 67 DOM
4. 2026-06-16
   days on market $65,000 Active 66 DOM
5. 2026-06-15
   days on market $65,000 Active 65 DOM
6. 2026-06-13
   days on market $65,000 Active 63 DOM
7. 2026-06-12
   days on market $65,000 Active 62 DOM
8. 2026-06-09
   days on market $65,000 Active 59 DOM
9. 2026-06-08
   days on market $65,000 Active 58 DOM
10. 2026-06-07
    days on market $65,000 Active 57 DOM
11. 2026-06-07
    days on market $65,000 Active 56 DOM
12. 2026-06-04
    days on market $65,000 Active 53 DOM
13. 2026-06-02
    days on market $65,000 Active 52 DOM
14. 2026-06-01
    days on market $65,000 Active 51 DOM
15. 2026-05-31
    days on market $65,000 Active 50 DOM
16. 2026-04-12
    listed $65,000 Active

ⓘ 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 2/10 Low FEMA zone X · 3% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 20 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: $10,102
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$808
• − Management: −$808
• − Depreciation: −$1,891
• Taxable income: $1,654
• Est. tax owed @ 24.0%: −$397
• After-tax cash flow: $2,193/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 · 12 photos

Fair 45/100 Moderate rehab

The home requires significant repairs and maintenance, including a new roof, landscaping, and painting. Upgrading the HVAC and mechanicals, as well as repairing the exterior siding and interior walls, can significantly increase its value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major landscaping — The landscaping and curb appeal are poor, with overgrown grass and debris.
• Moderate exterior siding — The siding is in fair condition, with some discoloration and wear.
• Moderate interior walls/paint — The interior walls and paint appear to be in fair condition, with some discoloration.
• Moderate HVAC/mechanicals — The HVAC and mechanicals appear to be in fair condition, with some wear.

Value-add opportunities

• Both paint the interior and exterior — Painting the interior and exterior can improve the home's curb appeal and overall appearance.
• Both repair and replace the roof — A new roof will improve the home's structural integrity and increase its value.
• Both landscape and improve curb appeal — A well-maintained and landscaped yard can significantly increase the home's resale and rental value.
• Both repair and replace HVAC/mechanicals — Upgrading the HVAC and mechanicals can improve the home's comfort and energy efficiency, increasing its value.
• Both repair and replace exterior siding — A new exterior siding can improve the home's curb appeal and increase its value.
• Both repair and replace interior walls/paint — A fresh coat of paint can improve the home's appearance and increase its value.
• Both repair and replace windows — New windows can improve the home's energy efficiency and increase its value.
• Both repair and replace foundation/structure — A strong and stable foundation and structure can improve the home's structural integrity and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
landscaping · The landscaping and curb appeal are poor, with overgrown grass and debris.	Major	$15,000–50,000
exterior siding · The siding is in fair condition, with some discoloration and wear.	Moderate	$3,000–15,000
interior walls/paint · The interior walls and paint appear to be in fair condition, with some discoloration.	Moderate	$3,000–15,000
HVAC/mechanicals · The HVAC and mechanicals appear to be in fair condition, with some wear.	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$39,000–145,000

Value-add ROI direction

• Both paint the interior and exterior — Painting the interior and exterior can improve the home's curb appeal and overall appearance. ↑
• Both repair and replace the roof — A new roof will improve the home's structural integrity and increase its value. ↑
• Both landscape and improve curb appeal — A well-maintained and landscaped yard can significantly increase the home's resale and rental value. ↑
• Both repair and replace HVAC/mechanicals — Upgrading the HVAC and mechanicals can improve the home's comfort and energy efficiency, increasing its value. ↑
• Both repair and replace exterior siding — A new exterior siding can improve the home's curb appeal and increase its value. ↑
• Both repair and replace interior walls/paint — A fresh coat of paint can improve the home's appearance and increase its value. ↑
• Both repair and replace windows — New windows can improve the home's energy efficiency and increase its value. ↑
• Both repair and replace foundation/structure — A strong and stable foundation and structure can improve the home's structural integrity and increase its 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: Leland School District
• NCES district ID: 2802610
• Math proficiency: 5% ▼ -16.00%
• Reading proficiency: 15% ▼ -10.00%
• Median HH income: $30,773
• Composite: 7.75/100
• National rank: #9936
• State rank: #117 of 130 in MS

Livability — Leland

• Score: 68/100
• State rank: #73
• US rank: #10033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leland, MS
• Population (ZIP): 6,568

Population outlook (Washington County) Hauer SSP2

• Today (2025): 41,424 people
• By 2030: 38,061 · -8.1%
• By 2040: 31,752 · -23.3%
• By 2050: 26,394 · -36.3%
• By 2075: 17,180 · -58.5%
• By 2100: 12,936 · -68.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 54% White 39% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+35.0) · D 67.0% · R 32.0% · Other 1.1%
• 2008→2024 swing: +0.2pp no change · 2008: 34.7pp · 2024: 35.0pp
• All cycles: 2024: D+35.0 2020: D+40.0 2016: D+36.4 2012: D+42.7 2008: D+34.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.23%
• Current HPI: 51.6345
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-12 Listed $65,000 Greenville Area MLS