74 Blue Water Rd

Rena Lara, MS 38720

$45,000B

3 bd · 3.0 ba · 616 sqft · Built 1960 · Other · Pending · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $864/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $399/mo
• Annual: $4,787/yr
• Cap rate: 16.93%
• Cash-on-cash: 37.99%
• DSCR: 2.69
• 1% rule: 1.92%
• Cash to close: $12,600

Investor read

• This is a 3-bed/3.0-bath other listed at $45k.
• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($864 rent vs $45k).
• It's been on market 105 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($311 loan paydown + $952 appreciation (2.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Coahoma County School District (rural): math 16% / reading 18% proficiency, ranked #103 of 130 in MS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 4 active listings in the ZIP; 26 units permitted in Coahoma County in 2024 (0 in 5+ unit buildings).
• Coahoma County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y 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.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.
• 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.