106 Oleander Dr · Nicholson, MS 39466

$33,300

3 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 13 Days on market

Built 1982 6,534 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this Brick home that features 3 bedrooms and 1 bathroom. Single carport attached with paved driveway! Sold As is Where is

Key facts

• 6,534 sq ft lot
• Parking
• Built 1982

Property features AI

Finance

• Other: Living area reported as 1,014 (source: public records); Lot approximately 0.15 acres
• Financial info: Tax information available (annual amount and year on record)
• HOA & community: Details not provided

Exterior

• Parking: Carport (1 space)
• Security: Details not provided
• Utilities: Electricity available; Water: see remarks; Sewer: see remarks
• Home design: Single family residence; House; One level
• Construction: Brick construction; Slab foundation; Built year: public records
• Exterior features: Shingle roof

Interior

• Kitchen: Dishwasher
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Dishwasher
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $745 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).

Location & tenants

• Location reads 58/100 on livability (#260 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Picayune School District (town): math 31% / reading 34% proficiency, ranked #60 of 130 in MS (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 349 active listings in the ZIP; 326 units permitted in Pearl River County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $230 of loan paydown is wiped out by about $999 of value loss. Plan a longer hold.
• Pearl River County population projected at -19% 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $33,300

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.80% ✓
• Cap rate: 33.12%
• Cash-on-cash: 95.83%
• DSCR: 5.26
• GRM: 2.2

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: 96.8%
• Equity multiple: 5.51×
• Total profit: $42,061
• Equity at exit: $4,965

10-year hold

• IRR: 99.4%
• Equity multiple: 11.49×
• Total profit: $97,828
• Equity at exit: $2,879

Cash invested: $9,324 (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 39466

• Home prices YoY: -26.3%
• Active inventory: 349
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,264 medium
• Mortgage (P&I): −$175
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $745

Break-even live

Break-even rent $321

Max offer price $33,300

Occupancy floor 36%

Sensitivity live

Price	-10% $763	-5% $754	+0% $745	+5% $735	+10% $726
Rent	-10% $645	-5% $695	+0% $745	+5% $795	+10% $844
Rate	-1.0pp $761	-0.5pp $753	base $745	+0.5pp $736	+1.0pp $727

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: $8,325
• Closing costs: $999
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $33,300 Pending 13 DOM
2. 2026-06-09
   days on market $33,300 Active 11 DOM
3. 2026-06-08
   days on market $33,300 Active 10 DOM
4. 2026-06-07
   days on market $33,300 Active 9 DOM
5. 2026-06-07
   days on market $33,300 Active 8 DOM
6. 2026-06-04
   days on market $33,300 Active 5 DOM
7. 2026-06-03
   days on market $33,300 Active 4 DOM
8. 2026-06-01
   days on market $33,300 Active 3 DOM
9. 2026-05-31
   days on market $33,300 Active 2 DOM
10. 2026-05-28
    listed $33,300 Active
11. 2004-05-25
    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: $785 · $65/mo
• Projected year-2 tax: $785 · $65/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $15,167
• − Mortgage interest: −$1,865
• − Property taxes: −$785
• − Insurance: −$166
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$969
• Taxable income: $8,955
• Est. tax owed @ 24.0%: −$2,149
• After-tax cash flow: $6,786/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: Picayune School District
• NCES district ID: 2803630
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $38,446
• Composite: 27.17/100
• National rank: #7025
• State rank: #60 of 130 in MS

Livability — Nicholson

• Score: 58/100
• State rank: #260
• US rank: #20802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nicholson, MS
• Population (ZIP): 28,292

Population outlook (Pearl River County) Hauer SSP2

• Today (2025): 53,426 people
• By 2030: 51,663 · -3.3%
• By 2040: 47,611 · -10.9%
• By 2050: 43,286 · -19.0%
• By 2075: 32,859 · -38.5%
• By 2100: 22,476 · -57.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 9% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Pearl River

• 2024 margin: Solid R (+66.7) · D 16.1% · R 82.8% · Other 1.0%
• 2008→2024 swing: -6.3pp toward R · 2008: -60.4pp · 2024: -66.7pp
• All cycles: 2024: R+66.7 2020: R+64.2 2016: R+66.8 2012: R+60.3 2008: R+60.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.32%
• Current HPI: 194.6541
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-28 Listed $33,300 MLSU
• 2004-05-25 Sold (Public Records) — Public Records

Property tax history

+0.7%/yr

Latest (2025): $785 · -2.6% YoY. Source: county tax records.