1381 Hwy 42 · Petal, MS 39465

$135,500

3 bd · 1.0 ba · 2,332 sqft · SingleFamily public records · 14 Days on market

Built 1984 0.52 ac lot ↓ 26% since listing

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just listed! This home features 3 bedrooms, 3 full baths, formal dining room, huge game room and oversized garage. The exterior has a large fenced yard, inground pool and hot tub as well as a large storage building. The lot consists of 269' of frontage on HWY 42 and is zoned C-2, General Commercial.

Key facts

• Flex room
• Great room
• Rehabilitation

Tags

• CORNER LOT
• FLEX ROOM
• GREAT ROOM
• FIREPLACE
• REHABILITATION
• ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• Other: Located in the Sherwood Forest subdivision

Exterior

• Parking: Attached garage (approximately 2.5 spaces)
• Utilities: Public sewer
• Home design: Single-family residence; One story
• Construction: Brick veneer and wood siding exterior; Slab foundation
• Exterior features: Corner, level lot; Shed(s) on the property; Patio/porch: none; Fencing: none

Interior

• Flooring: Wood flooring; Ceramic tile flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central electric air conditioning
• Interior features: Fireplace (1); Wood and ceramic tile flooring; 12 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Cap rate 9.5% vs local median 4.0% in Petal — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#18 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Petal School District (suburban): math 68% / reading 56% proficiency, ranked #2 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 228 active listings in the ZIP; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $937 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $135,500

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. 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.
3. 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.
4. 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: 1.22% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.35%
• DSCR: 1.51
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $361,460
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 W Temple Rd	0.39mi	3/2.0	1,998 (-14%)	16mo	$310,000	$155	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $932
• Equity at exit: $20,203

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $30,376
• Equity at exit: $11,716

Cash invested: $37,940 (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 39465

• Active inventory: 228
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$711
• Tax from tax record: −$183 /mo · $2,197/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $359

Break-even live

Break-even rent $1,203

Max offer price $135,500

Occupancy floor 73%

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: $33,875
• Closing costs: $4,065
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-12
   listed $135,500 Active
3. 2017-08-31
   soldstatus 300-char remark

   Show marketing remark (300 chars)

   Just listed! This home features 3 bedrooms, 3 full baths, formal dining room, huge game room and oversized garage. The exterior has a large fenced yard, inground pool and hot tub as well as a large storage building. The lot consists of 269' of frontage on HWY 42 and is zoned C-2, General Commercial.

4. 2017-04-11
   listed $184,000 300-char remark

   Show marketing remark (300 chars)

   Just listed! This home features 3 bedrooms, 3 full baths, formal dining room, huge game room and oversized garage. The exterior has a large fenced yard, inground pool and hot tub as well as a large storage building. The lot consists of 269' of frontage on HWY 42 and is zoned C-2, General Commercial.

ⓘ 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: $2,197 · $183/mo
• Projected year-2 tax: $2,197 · $183/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 20 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: $19,883
• − Mortgage interest: −$7,590
• − Property taxes: −$2,197
• − Insurance: −$678
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$3,942
• Taxable income: $2,295
• Est. tax owed @ 24.0%: −$551
• After-tax cash flow: $3,755/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: Petal School District
• NCES district ID: 2803530
• Math proficiency: 68% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $51,872
• Composite: 52.97/100
• National rank: #1526
• State rank: #2 of 130 in MS

Livability — Petal

• Score: 73/100
• State rank: #18
• US rank: #5565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petal, MS
• County: Forrest County · 65,413 people
• City population: 22,882
• Metro: Hattiesburg, MS
• Population (ZIP): 22,882
• Household income: $74,035
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 199.0

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 13% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.97%
• Current HPI: 158.6021
• Rent YoY: —
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-26.4% since first listed

4 events — show timeline

• 2026-04-29 Pending — HAAR
• 2026-04-12 Listed $135,500 HAAR
• 2017-08-31 Sold (MLS) — HAAR
• 2017-04-11 Listed $184,000 HAAR

Property tax history

+3.6%/yr

Latest (2017): $2,197 · +8.3% YoY. Source: county tax records.