206 Mississippi Ave · Elliott, MS 38901

$119,900

3 bd · 1.0 ba · 1,185 sqft · SingleFamily public records · 49 Days on market

0.42 ac lot $101/sqft · at area comps Est $137k · 12% under ↓ 8% since listing

---

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 +20.6/30.0
• ARV discount +13.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.2/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 206 Mississippi Ave, Grenada — a hidden gem full of potential in an established neighborhood that's seeing renewed growth and revitalization. This 3-bedroom home offers approximately 1,100+ square feet of living space, providing a solid foundation for homeowners or investors ready to add their personal touch. With a classic layout, carport, and spacious lot, this property is ideal for a renovation project or rental investment. The surrounding area features a mix of long-standing homes and properties that are being updated, making this a great opportunity to get in early and build equity as the neighborhood continues to improve. While the home does need some TLC, the upside

Key facts

• 0.42 acre lot
• 2 parking spots
• Listed 49 days

Property features AI

Exterior

• Parking: 2-space carport
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence (house); One level
• Construction: Brick construction; Shingle roof; Slab foundation; Built area reported as 1,309 (public records)
• Exterior features: Private yard

Interior

• Kitchen: Range hood
• Bedrooms: Total rooms: 1
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating provided by fireplace(s); Wall/window cooling units
• Interior features: Family room on the main level; Living room fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/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 $111k (7.8% below list).
• Recommended offer: $111k (7.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#192 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D+, schools F.
• Grenada School District (town): math 53% / reading 43% proficiency, ranked #19 of 130 in MS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 128 active listings in the ZIP; 1 units permitted in Grenada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grenada County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $110,572 (7.8% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (median comp): $136,520
• List price: $119,900
• Delta: -12.17%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Mississippi Ave	0.11mi	3/1.5	1,111 (-6%)	10mo	$135,000	$122	74
214 Mississippi Ave	0.07mi	3/1.5	1,156 (-2%)	23mo	$26,686	$23	72

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-13,459
• Equity at exit: $17,877

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-4,070
• Equity at exit: $10,367

Cash invested: $33,572 (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 38901

• Home prices YoY: -27.9%
• Active inventory: 128
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,106 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$34 /mo · $413/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $94

Break-even live

Break-even rent $987

Max offer price $119,900

Occupancy floor 86%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $119,900 Active 49 DOM
2. 2026-06-17
   days on market $119,900 Active 48 DOM
3. 2026-06-16
   days on market $119,900 Active 47 DOM
4. 2026-06-15
   days on market $119,900 Active 46 DOM
5. 2026-06-13
   days on market $119,900 Active 44 DOM
6. 2026-06-12
   days on market $119,900 Active 43 DOM
7. 2026-06-09
   days on market $119,900 Active 40 DOM
8. 2026-06-08
   days on market $119,900 Active 39 DOM
9. 2026-06-07
   days on market $119,900 Active 38 DOM
10. 2026-06-04
    days on market $119,900 Active 34 DOM
11. 2026-06-02
    days on market $119,900 Active 33 DOM
12. 2026-06-01
    price $119,900 Active 32 DOM
13. 2026-06-01
    days on market $129,900 Active 32 DOM
14. 2026-05-31
    days on market $129,900 Active 31 DOM
15. 2026-04-30
    listed $129,900 Active 1210-char remark
16. 2003-12-01
    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: $413 · $34/mo
• Projected year-2 tax: $947 · $79/mo
• Expected delta: +$535/yr (+$45/mo · 129.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,269
• − Mortgage interest: −$6,716
• − Property taxes: −$413
• − Insurance: −$1,397
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$3,488
• Taxable loss: −$868
• Est. tax savings @ 24.0%: +$208
• After-tax cash flow: $1,336/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: Grenada School District
• NCES district ID: 2801680
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $33,936
• Composite: 39.64/100
• National rank: #3917
• State rank: #19 of 130 in MS

Livability — Elliott

• Score: 61/100
• State rank: #192
• US rank: #17600

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elliott, MS
• City population: 17,887
• Population (ZIP): 17,887

Population outlook (Grenada County) Hauer SSP2

• Today (2025): 20,777 people
• By 2030: 20,169 · -2.9%
• By 2040: 18,782 · -9.6%
• By 2050: 17,415 · -16.2%
• By 2075: 14,218 · -31.6%
• By 2100: 11,114 · -46.5%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: White 49% Black 48% Two or more races 2%
• Common ancestry: Italian 1% Slovak 1% Portuguese 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Grenada

• 2024 margin: R (+16.3) · D 41.6% · R 57.9%
• 2008→2024 swing: -5.6pp toward R · 2008: -10.7pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+12.3 2016: R+14.9 2012: R+6.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.82%
• Current HPI: 144.3743
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.7% since first listed

3 events — show timeline

• 2026-06-01 Price Changed $119,900 MLSU
• 2026-04-30 Listed $129,900 MLSU
• 2003-12-01 Sold (Public Records) — Public Records

Property tax history

+1.9%/yr

Latest (2025): $413 · +2.6% YoY. Source: county tax records.