106 Martin Luther King Dr · Columbia, MS 39429

$59,000

3 bd · 2.0 ba · 1,618 sqft · SingleFamily · 30 Days on market

Built 1940 Fair condition 0.30 ac lot ↓ 41% since listing

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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
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 2-bath cottage-style home located just minutes from historic downtown Columbia. This property offers a unique opportunity for someone looking to renovate and restore a home with strong potential. Major systems have already been updated such as HVAC and hot water heater, including a roof that is only 5 years old, helping reduce some of the larger upfront renovation.

Key facts

• Cottage-style home
• Roof 5 years old
• 0.3 acre lot

Tags

• COTTAGE-STYLE HOME
• HISTORIC DOWNTOWN COLUMBIA
• MAJOR SYSTEMS UPDATED
• ROOF 5 YEARS OLD

Property features AI

Exterior

• Parking: Has a carport (1 space); Driveway parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Wood siding exterior; Slab foundation
• Exterior features: No specific exterior features listed; Lot dimensions approximately 70 x 185

Interior

• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: No built-in appliances listed; Wood floors; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#154 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B, housing B; Watch: schools D, health & safety D, amenities F.
• Columbia School District (town): math 39% / reading 39% proficiency, ranked #45 of 130 in MS (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 133 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at -33% 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 $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,115 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.26% ✓
• Cap rate: 19.39%
• Cash-on-cash: 46.78%
• DSCR: 3.08
• GRM: 3.7

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: 7.1%
• Equity multiple: 1.28×
• Total profit: $4,574
• Equity at exit: $8,797

10-year hold

• IRR: 16.7%
• Equity multiple: 2.39×
• Total profit: $22,966
• Equity at exit: $5,101

Cash invested: $16,520 (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 39429

• Active inventory: 133
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $217

Break-even live

Break-even rent $1,056

Max offer price $59,000

Occupancy floor 79%

Sensitivity live

Price	-10% $258	-5% $238	+0% $217	+5% $197	+10% $177
Rent	-10% $112	-5% $165	+0% $217	+5% $270	+10% $323
Rate	-1.0pp $247	-0.5pp $232	base $217	+0.5pp $202	+1.0pp $187

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $59,000 Active 30 DOM
2. 2026-06-21
   days on market $59,000 Active 29 DOM
3. 2026-06-18
   days on market $59,000 Active 27 DOM
4. 2026-06-17
   days on market $59,000 Active 26 DOM
5. 2026-06-16
   days on market $59,000 Active 25 DOM
6. 2026-06-15
   days on market $59,000 Active 24 DOM
7. 2026-06-13
   days on market $59,000 Active 22 DOM
8. 2026-06-12
   days on market $59,000 Active 21 DOM
9. 2026-06-09
   days on market $59,000 Active 18 DOM
10. 2026-06-08
    days on market $59,000 Active 17 DOM
11. 2026-06-07
    days on market $59,000 Active 16 DOM
12. 2026-06-07
    days on market $59,000 Active 15 DOM
13. 2026-06-04
    days on market $59,000 Active 12 DOM
14. 2026-06-02
    days on market $59,000 Active 11 DOM
15. 2026-06-01
    days on market $59,000 Active 10 DOM
16. 2026-05-31
    days on market $59,000 Active 9 DOM
17. 2026-05-22
    listed $59,000 Active
18. 2026-03-19
    historical
19. 2026-02-24
    price $69,900
20. 2026-02-17
    price $74,900
21. 2026-02-11
    price $79,900
22. 2026-02-10
    listed $99,900 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 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $15,976
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$5,414
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$1,716
• Taxable income: $2,100
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $2,106/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 · 1 photo

Fair 45/100 Moderate rehab

This single-family home requires moderate renovations to improve its curb appeal and functionality, with a focus on landscaping, exterior painting, and interior updates.

Repairs flagged

• Major Driveway — Severe wear and unevenness.
• Major Landscaping — Overgrown and unkempt.
• Major Paint — Worn and dull appearance on walls and exterior.
• Minor Bathroom fixtures — No visible damage, but may need updating for resale value.

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and resale value.
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics.
• Both Appliance upgrades — Modernizes the home and attracts more buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Driveway · Severe wear and unevenness.	Major	$15,000–50,000
Landscaping · Overgrown and unkempt.	Major	$15,000–50,000
Paint · Worn and dull appearance on walls and exterior.	Major	$15,000–50,000
Bathroom fixtures · No visible damage, but may need updating for resale value.	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and resale value. ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics. ↑
• Both Appliance upgrades — Modernizes the home and attracts more buyers/renters. ↑

ⓘ 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: Columbia School District
• NCES district ID: 2801170
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $31,192
• Composite: 31.87/100
• National rank: #5866
• State rank: #45 of 130 in MS

Livability — Columbia

• Score: 63/100
• State rank: #154
• US rank: #15293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, MS
• Population (ZIP): 16,583

Population outlook (Marion County) Hauer SSP2

• Today (2025): 22,813 people
• By 2030: 21,301 · -6.6%
• By 2040: 18,176 · -20.3%
• By 2050: 15,215 · -33.3%
• By 2075: 9,388 · -58.8%
• By 2100: 5,335 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 34% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Serbian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.6) · D 28.7% · R 70.4%
• 2008→2024 swing: -10.2pp toward R · 2008: -31.4pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+36.8 2016: R+36.0 2012: R+29.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.11%
• Current HPI: 132.3278
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-40.9% since first listed

6 events — show timeline

• 2026-05-22 Listed $59,000 HAAR
• 2026-03-19 Listing Removed — MLSU
• 2026-02-24 Price Changed $69,900 MLSU
• 2026-02-17 Price Changed $74,900 MLSU
• 2026-02-11 Price Changed $79,900 MLSU
• 2026-02-10 Listed $99,900 MLSU