1421 County Road 232 · Chalybeate, MS 38674

$55,900

2 bd · 1.5 ba · 1,232 sqft · SingleFamily public records · 36 Days on market

Built 1981 0.48 ac lot ↓ 25% 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
• Appreciation +5.5/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Updated farm house. Has New septic, Central H/A, Wiring & Box, Insulation, Vapor barriers, Fans, Blinds and Fence! Country Living could not be better! Priced to sell!

Key facts

• Pond view
• 0.48 acre lot
• Built 1981

Tags

• POND VIEW

Property features AI

Exterior

• Parking: Attached carport
• Home design: Residential single-family home
• Exterior features: Lot approximately 0.48 acres; Lot dimensions about 100 x 209; Directions: Take 232 across from barn; property will be on left

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $54k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• North Tippah School District (rural): math 31% / reading 36% proficiency, ranked #59 of 130 in MS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 10 units permitted in Tippah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $997 of equity ($386 loan paydown + $611 appreciation (1.1% local appreciation)).
• Tippah County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,223 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.82% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.25%
• DSCR: 2.52
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 2.90×
• Total profit: $29,753
• Equity at exit: $19,354

10-year hold

• IRR: 38.9%
• Equity multiple: 5.69×
• Total profit: $73,349
• Equity at exit: $25,931

Cash invested: $15,652 (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 38674

• Home prices YoY: 1.0%
• Active inventory: 13
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,017 medium
• Mortgage (P&I): −$293
• Tax from tax record: −$40 /mo · $479/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $447

Break-even live

Break-even rent $451

Max offer price $55,900

Occupancy floor 51%

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: $13,975
• Closing costs: $1,677
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $55,900 Active 36 DOM
2. 2026-06-17
   days on market $55,900 Active 35 DOM
3. 2026-06-16
   days on market $55,900 Active 34 DOM
4. 2026-06-15
   days on market $55,900 Active 33 DOM
5. 2026-06-13
   days on market $55,900 Active 31 DOM
6. 2026-06-12
   days on market $55,900 Active 30 DOM
7. 2026-06-09
   days on market $55,900 Active 27 DOM
8. 2026-06-08
   days on market $55,900 Active 26 DOM
9. 2026-06-07
   days on market $55,900 Active 25 DOM
10. 2026-06-07
    days on market $55,900 Active 24 DOM
11. 2026-06-04
    days on market $55,900 Active 21 DOM
12. 2026-06-02
    days on market $55,900 Active 20 DOM
13. 2026-06-01
    days on market $55,900 Active 19 DOM
14. 2026-05-31
    days on market $55,900 Active 18 DOM
15. 2026-05-13
    listed $55,900 Active 700-char remark
16. 2016-10-28
    soldstatus 172-char remark

    Show marketing remark (172 chars)

    Updated farm house. Has New septic, Central H/A, Wiring & Box, Insulation, Vapor barriers, Fans, Blinds and Fence! Country Living could not be better! Priced to sell!

17. 2016-07-01
    listed $75,000 172-char remark

    Show marketing remark (172 chars)

    Updated farm house. Has New septic, Central H/A, Wiring & Box, Insulation, Vapor barriers, Fans, Blinds and Fence! Country Living could not be better! Priced to sell!

18. 2008-03-13
    soldstatus
19. 2002-06-18
    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: $479 · $40/mo
• Projected year-2 tax: $479 · $40/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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $12,199
• − Mortgage interest: −$3,131
• − Property taxes: −$479
• − Insurance: −$280
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$1,626
• Taxable income: $4,732
• Est. tax owed @ 24.0%: −$1,136
• After-tax cash flow: $4,226/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: North Tippah School District
• NCES district ID: 2803270
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $32,951
• Composite: 27.46/100
• National rank: #6962
• State rank: #59 of 130 in MS

Livability — Chalybeate

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,430

Population outlook (Tippah County) Hauer SSP2

• Today (2025): 21,864 people
• By 2030: 21,575 · -1.3%
• By 2040: 20,850 · -4.6%
• By 2050: 19,953 · -8.7%
• By 2075: 17,257 · -21.1%
• By 2100: 13,705 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 37% Two or more races 2%

Political lean MEDSL · Tippah

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -22.8pp toward R · 2008: -44.4pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+60.6 2016: R+58.8 2012: R+48.5 2008: R+44.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.09%
• Current HPI: 106.8398
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-25.5% since first listed

5 events — show timeline

• 2026-05-13 Listed $55,900 NEMSBD
• 2016-10-28 Sold (MLS) — NEMSBD
• 2016-07-01 Listed $75,000 NEMSBD
• 2008-03-13 Sold (Public Records) — Public Records
• 2002-06-18 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $479 · +2.1% YoY. Source: county tax records.