1135 Joe Dear Rd · Georgetown, MS 39082

$35,000

2 bd · 2.0 ba · 864 sqft · SingleFamily public records · 14 Days on market

Built 1961 1.88 ac lot $41/sqft · 30% above area Est $35k · at est.

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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
• Appreciation +6.3/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

Tucked away in Harrisville on just under 1.7 acres, this property is full of potential and ready for someone with vision to bring it back to life! Featuring 2 bedrooms and 2 bathrooms, this home offers a functional layout with a spacious primary bathroom complete with a walk-in shower. The enclosed carport adds valuable extra space, including a laundry room and bonus area that could be used for storage, office space, or a hobby room. Outside, you'll find a fairly new metal roof, a metal shop building, and one of the most peaceful features of all — a winding creek running through the back of the property, creating a quiet country setting. Whether you're looking for your next flip proje

Key facts

• Enclosed carport
• Metal roof
• Winding creek

Tags

• 1.7 ACRES
• ENCLOSED CARPORT
• METAL ROOF
• METAL SHOP BUILDING
• WINDING CREEK

Property features AI

Finance

• Other: Property listed as a fixer

Exterior

• Parking: Unpaved parking
• Utilities: Public water; Sewer available; Electricity available
• Home design: Single-family house; One level
• Construction: Brick and siding exterior; Metal roof; Slab foundation; Built in public-records year (exact year not provided); Approximately 1,125 total building area
• Exterior features: Creek on the property; Workshop on site

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit(s) for cooling; No central cooling
• Interior features: Laundry located in the garage
• Laundry & utility: Washer/dryer hookups in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($848 rent vs $35k).

Location & tenants

• Location reads 54/100 on livability (#322 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Simpson Central School (math 32% / reading 34%, grade F, #168 of 375 statewide, top 45%, 433 students, 99% FRL); Mendenhall Junior High School (math 14% / reading 24%, grade F, #119 of 179 statewide, top 66%, 243 students, 99% FRL); Mendenhall High School (math 8% / reading 22%, grade F, #150 of 197 statewide, top 76%, 519 students, 99% FRL) — zoned schools average 99% FRL vs 76% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($242 loan paydown + $938 appreciation (2.7% local appreciation)).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $28k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $35,000

Questions for the listing agent

1. Built in 1961 — 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 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?
4. 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.
5. 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.
6. 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: 2.42% ✓
• Cap rate: 22.05%
• Cash-on-cash: 56.26%
• DSCR: 3.50
• GRM: 3.4

CMA / ARV

• ARV (median comp): $35,000
• List price: $35,000
• Delta: —
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

2.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.9%
• Equity multiple: 4.36×
• Total profit: $32,884
• Equity at exit: $15,112

10-year hold

• IRR: 60.7%
• Equity multiple: 8.84×
• Total profit: $76,790
• Equity at exit: $22,815

Cash invested: $9,800 (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 39082

• Home prices YoY: 3.1%
• Active inventory: 3
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $848 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$12 /mo · $144/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $459

Break-even live

Break-even rent $266

Max offer price $35,000

Occupancy floor 41%

Sensitivity live

Price	-10% $479	-5% $469	+0% $459	+5% $450	+10% $440
Rent	-10% $392	-5% $426	+0% $459	+5% $493	+10% $526
Rate	-1.0pp $477	-0.5pp $468	base $459	+0.5pp $450	+1.0pp $441

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-13
   listed $35,000 Active 876-char remark
2. 2026-04-22
   status Active
3. 2026-03-11
   status Pending
4. 2026-03-11
   historical
5. 2026-02-25
   price $35,000
6. 2026-01-09
   price $42,000
7. 2025-12-02
   listed $44,000 Active
8. 2007-10-26
   soldstatus $27,500
9. 1994-04-28
   soldstatus $27,500

ⓘ 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: $144 · $12/mo
• Projected year-2 tax: $276 · $23/mo
• Expected delta: +$132/yr (+$11/mo · 92.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $10,171
• − Mortgage interest: −$1,961
• − Property taxes: −$144
• − Insurance: −$175
• − Repairs & maintenance: −$814
• − Management: −$814
• − Depreciation: −$1,018
• Taxable income: $5,246
• Est. tax owed @ 24.0%: −$1,259
• After-tax cash flow: $4,254/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: Simpson County School District
• NCES district ID: 2803990
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,826
• Composite: 17.46/100
• National rank: #9063
• State rank: #90 of 130 in MS

Livability — Georgetown

• Score: 54/100
• State rank: #322
• US rank: #23976

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,025

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 26,197 people
• By 2030: 25,474 · -2.8%
• By 2040: 23,811 · -9.1%
• By 2050: 22,024 · -15.9%
• By 2075: 17,701 · -32.4%
• By 2100: 13,732 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (51%)
• Race & ethnicity: White 51% Black 44% Asian 4% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 4% · South Korea
• Languages at home: 95% English-only · Korean 4% Spanish 1%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+36.7) · D 31.4% · R 68.1%
• 2008→2024 swing: -14.3pp toward R · 2008: -22.4pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+30.4 2016: R+30.9 2012: R+22.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.68%
• Current HPI: 88.6579
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+27.3% since first listed

11 events — show timeline

• 2026-06-08 Sold (MLS) — MLSU
• 2026-05-27 Pending — MLSU
• 2026-05-13 Listed $35,000 MLSU
• 2026-04-22 Relisted — MLSU
• 2026-03-11 Pending — MLSU
• 2026-03-11 Listing Removed — MLSU
• 2026-02-25 Price Changed $35,000 MLSU
• 2026-01-09 Price Changed $42,000 MLSU
• 2025-12-02 Listed $44,000 MLSU
• 2007-10-26 Sold (Public Records) $27,500 Public Records
• 1994-04-28 Sold (Public Records) $27,500 Public Records

Property tax history

-21.3%/yr

Latest (2016): $144 · +3.6% YoY. Source: county tax records.