357 County Road 218 · Farmington, MS 38834

$100,000

3 bd · 1.0 ba · 1,568 sqft · SingleFamily public records · 250 Days on market

Built 1960 0.87 ac lot ↓ 32% 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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on CR 218, this property includes a 3 bedroom, 2 bathroom main house with a den and sunroom, sitting on just under 1 acre. A second structure on the property offers 2 bedrooms, 1 bathroom, a living room, and a kitchen. With multiple living spaces and a spacious lot, this property presents a great opportunity for rental income or future development. Property will not qualify for FHA, USDA, or VA financing.

Key facts

• Second structure
• Sunroom
• Spacious lot

Tags

• DEN
• SUNROOM
• SECOND STRUCTURE
• MULTIPLE LIVING SPACES
• SPACIOUS LOT
• RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#234 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• Alcorn School District (rural): math 45% / reading 42% proficiency, ranked #33 of 130 in MS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 192 active listings in the ZIP; 13 units permitted in Alcorn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Alcorn County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $48k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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: 1.26% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.25%
• DSCR: 1.46
• GRM: 6.6

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-911
• Equity at exit: $14,910

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $19,061
• Equity at exit: $8,646

Cash invested: $28,000 (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 38834

• Active inventory: 192
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$189 /mo · $2,266/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $239

Break-even live

Break-even rent $956

Max offer price $100,000

Occupancy floor 76%

Sensitivity live

Price	-10% $296	-5% $268	+0% $239	+5% $211	+10% $183
Rent	-10% $140	-5% $189	+0% $239	+5% $289	+10% $339
Rate	-1.0pp $290	-0.5pp $265	base $239	+0.5pp $213	+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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-01
   remarks 416-char remark
2. 2026-06-01
   listed $100,000 Pending 250 DOM

ⓘ 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: $2,266 · $189/mo
• Projected year-2 tax: $2,266 · $189/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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $15,100
• − Mortgage interest: −$5,602
• − Property taxes: −$2,266
• − Insurance: −$500
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$2,909
• Taxable income: $1,408
• Est. tax owed @ 24.0%: −$338
• After-tax cash flow: $2,533/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: Alcorn School District
• NCES district ID: 2800390
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $37,645
• Composite: 36.24/100
• National rank: #4715
• State rank: #33 of 130 in MS

Livability — Farmington

• Score: 59/100
• State rank: #234
• US rank: #19647

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington, MS
• Population (ZIP): 27,146

Population outlook (Alcorn County) Hauer SSP2

• Today (2025): 38,392 people
• By 2030: 38,804 · +1.1%
• By 2040: 39,455 · +2.8%
• By 2050: 39,708 · +3.4%
• By 2075: 39,917 · +4.0%
• By 2100: 37,628 · -2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Alcorn

• 2024 margin: Solid R (+68.3) · D 15.4% · R 83.8%
• 2008→2024 swing: -24.4pp toward R · 2008: -44.0pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+63.5 2016: R+61.8 2012: R+51.6 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.19%
• Current HPI: 155.736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-32.4% since first listed

6 events — show timeline

• 2026-06-01 Pending — NEMSBD
• 2026-01-07 Relisted — NEMSBD
• 2025-09-19 Relisted — NEMSBD
• 2025-06-27 Price Changed $100,000 NEMSBD
• 2025-06-12 Price Changed $125,000 NEMSBD
• 2025-04-21 Listed $148,000 NEMSBD

Property tax history

+2.9%/yr

Latest (2025): $2,266 · +7.0% YoY. Source: county tax records.