211 Serenity Lake Dr

Pearl, MS 39208

$294,000D-

4 bd · 2.0 ba · 1,845 sqft · Built 2023 · SingleFamily · Active · 133 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,011/mo
• Mortgage (P&I): −$1,542
• Tax + insurance: −$347
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-301/mo
• Annual: $-3,610/yr
• Cap rate: 5.07%
• Cash-on-cash: -4.38%
• DSCR: 0.80
• 1% rule: 0.68%
• Cash to close: $82,320

Investor read

• This is a 4-bed/2.0-bath single-family listed at $294k.
• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (31.6% below list).
• It's been on market 133 days — a 12% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (31.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#19 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Pearl Public School District (suburban): math 44% / reading 42% proficiency, ranked #32 of 130 in MS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 265 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $31k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• This rent runs 37% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 133 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.