2304 Proper St · Corinth, MS 38834

$107,750

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 15 Days on market

Built 1955 0.44 ac lot Est $87k · 23% over

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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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +4.4/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• 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

Affordable and cozy, this 2 bedroom 1 bath cottage is waiting for you! Built in 1955, this home has kept a lot of its original character. The kitchen and bathroom has recently been remodeled featuring new cabinets, countertops, and a tiled bathtub surround. It has a new central heat/air unit too, duct work and all! The backyard is partially fenced and has a total lot size of just under half an acre. Jump on this one while you can because at this price it won't last long! Agents see private remarks.

Key facts

• Kitchen remodeled
• Bathroom remodeled
• 0.44 acre lot

Tags

• KITCHEN REMODELED
• BATHROOM REMODELED
• TILED BATHTUB SURROUND
• NEW CENTRAL HEAT AIR UNIT
• PARTIALLY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (6.3% below list).
• Recommended offer: $101k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 3.7% in Corinth — 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 61/100 on livability (#187 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D-, amenities F.
• Corinth School District (town): math 35% / reading 36% proficiency, ranked #56 of 130 in MS (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 13 units permitted in Alcorn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $744 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Alcorn County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• Current owner paid $62k; list at $108k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $100,971 (6.3% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
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: 0.94% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.11%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $87,360
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 E Harris Crk	0.43mi	3/1.0 (+1)	1,073 (+3%)	20mo	$89,709	$84	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-7,717
• Equity at exit: $16,066

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $5,697
• Equity at exit: $9,316

Cash invested: $30,170 (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 38834

• Active inventory: 186
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,010 medium
• Mortgage (P&I): −$565
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $154

Break-even live

Break-even rent $815

Max offer price $107,750

Occupancy floor 80%

Sensitivity live

Price	-10% $215	-5% $184	+0% $154	+5% $123	+10% $93
Rent	-10% $74	-5% $114	+0% $154	+5% $194	+10% $233
Rate	-1.0pp $208	-0.5pp $181	base $154	+0.5pp $126	+1.0pp $97

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: $26,938
• Closing costs: $3,232
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Proper St Corinth, MS	3.0	1.5	1400	$900	$0.64	44d	1	0.73mi
1907 N Madison St Corinth, MS	2.0	1.0	1200	$1,200	$1.00	44d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $107,750 Active 15 DOM
2. 2026-06-17
   days on market $107,750 Active 14 DOM
3. 2026-06-16
   days on market $107,750 Active 13 DOM
4. 2026-06-15
   days on market $107,750 Active 12 DOM
5. 2026-06-13
   days on market $107,750 Active 10 DOM
6. 2026-06-12
   days on market $107,750 Active 9 DOM
7. 2026-06-09
   days on market $107,750 Active 6 DOM
8. 2026-06-08
   days on market $107,750 Active 5 DOM
9. 2026-06-07
   days on market $107,750 Active 4 DOM
10. 2026-06-07
    days on market $107,750 Active 3 DOM
11. 2026-06-04
    remarks 506-char remark
12. 2026-06-04
    listed $107,750 Active 1 DOM

ⓘ 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: $408 · $34/mo
• Projected year-2 tax: $851 · $71/mo
• Expected delta: +$443/yr (+$37/mo · 108.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $12,117
• − Mortgage interest: −$6,036
• − Property taxes: −$408
• − Insurance: −$539
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$3,135
• Taxable income: $61
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $1,830/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: Corinth School District
• NCES district ID: 2801260
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $31,709
• Composite: 29.02/100
• National rank: #6611
• State rank: #56 of 130 in MS

Livability — Corinth

• Score: 61/100
• State rank: #187
• US rank: #17369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corinth, MS
• City population: 27,146
• Population (ZIP): 27,146

Population outlook (Alcorn County) Hauer SSP2

• Today (2025): 38,392 people
• By 2030: 38,804 · +1.1%
• By 2040: 39,455 · +2.8%
• By 2050: 39,708 · +3.4%
• By 2075: 39,917 · +4.0%
• By 2100: 37,628 · -2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Alcorn

• 2024 margin: Solid R (+68.3) · D 15.4% · R 83.8%
• 2008→2024 swing: -24.4pp toward R · 2008: -44.0pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+63.5 2016: R+61.8 2012: R+51.6 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.19%
• Current HPI: 155.736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+54.1% since first listed

4 events — show timeline

• 2026-06-03 Listed $107,750 NEMSBD
• 2023-09-22 Sold (Public Records) $62,000 Public Records
• 2023-09-22 Sold (MLS) — NEMSBD
• 2023-09-12 Listed $69,900 NEMSBD

Property tax history

+6.1%/yr

Latest (2025): $408 · +6.1% YoY. Source: county tax records.