26340 Strickland Rd · Picayune, MS 39466

$99,000

2 bd · 1.0 ba · 1,006 sqft · SingleFamily public records · 188 Days on market

Built 1994 1.00 ac lot $98/sqft · 41% below area Est $167k · 41% under ↓ 34% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.1/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute and affordable home in the country on a quiet acre! Large living area, 2 bedrooms, carport, shed, and more. Gorgeous mature oak trees surround property. Feels like country, but less than 15 minutes from town. Needs a little TLC, but has great bones!

Key facts

• Large living area
• Mature oak trees
• Quiet acre

Tags

• LARGE LIVING AREA
• MATURE OAK TREES
• QUIET ACRE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.3% in Picayune — 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 76/100 on livability (#11 in MS, #3,748 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, amenities A; Watch: schools C-, commute F, employment F.
• Hancock County School District (rural): math 47% / reading 44% proficiency, ranked #23 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 344 active listings in the ZIP; 248 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hancock County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.32%
• DSCR: 1.41
• GRM: 7.5

CMA / ARV

• ARV (median comp): $166,566
• List price: $99,000
• Delta: -40.56%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,326
• Equity at exit: $14,761

10-year hold

• IRR: 7.5%
• Equity multiple: 1.56×
• Total profit: $15,632
• Equity at exit: $8,560

Cash invested: $27,720 (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 39466

• Home prices YoY: -26.3%
• Active inventory: 344
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $215

Break-even live

Break-even rent $829

Max offer price $99,000

Occupancy floor 75%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $99,000 Active 188 DOM
2. 2026-06-17
   days on market $99,000 Active 187 DOM
3. 2026-06-16
   days on market $99,000 Active 186 DOM
4. 2026-06-15
   days on market $99,000 Active 185 DOM
5. 2026-06-14
   days on market $99,000 Active 183 DOM
6. 2026-06-13
   days on market $99,000 Active 182 DOM
7. 2026-06-10
   days on market $99,000 Active 180 DOM
8. 2026-06-09
   days on market $99,000 Active 179 DOM
9. 2026-06-08
   days on market $99,000 Active 178 DOM
10. 2026-06-07
    days on market $99,000 Active 177 DOM
11. 2026-06-05
    days on market $99,000 Active 174 DOM
12. 2026-06-03
    days on market $99,000 Active 173 DOM
13. 2026-06-02
    days on market $99,000 Active 172 DOM
14. 2026-06-01
    days on market $99,000 Active 171 DOM
15. 2026-05-31
    days on market $99,000 Active 170 DOM
16. 2026-05-30
    days on market $99,000 Active 169 DOM
17. 2026-05-04
    price $99,000 254-char remark

    Show marketing remark (254 chars)

    Cute and affordable home in the country on a quiet acre! Large living area, 2 bedrooms, carport, shed, and more. Gorgeous mature oak trees surround property. Feels like country, but less than 15 minutes from town. Needs a little TLC, but has great bones!

18. 2026-01-06
    price $120,000 254-char remark

    Show marketing remark (254 chars)

    Cute and affordable home in the country on a quiet acre! Large living area, 2 bedrooms, carport, shed, and more. Gorgeous mature oak trees surround property. Feels like country, but less than 15 minutes from town. Needs a little TLC, but has great bones!

19. 2025-12-12
    listed $151,000 Active 254-char remark

    Show marketing remark (254 chars)

    Cute and affordable home in the country on a quiet acre! Large living area, 2 bedrooms, carport, shed, and more. Gorgeous mature oak trees surround property. Feels like country, but less than 15 minutes from town. Needs a little TLC, but has great bones!

20. 1997-11-14
    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: $1,134 · $94/mo
• Projected year-2 tax: $1,134 · $94/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 9/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $13,220
• − Mortgage interest: −$5,546
• − Property taxes: −$1,134
• − Insurance: −$495
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$2,880
• Taxable income: $1,050
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,333/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: Hancock County School District
• NCES district ID: 2801740
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $47,971
• Composite: 38.88/100
• National rank: #4099
• State rank: #23 of 130 in MS

Livability — Picayune

• Score: 76/100
• State rank: #11
• US rank: #3748

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 28,292

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 52,161 people
• By 2030: 54,753 · +5.0%
• By 2040: 59,242 · +13.6%
• By 2050: 62,417 · +19.7%
• By 2075: 68,168 · +30.7%
• By 2100: 69,212 · +32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 9% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+58.7) · D 20.1% · R 78.8% · Other 1.1%
• 2008→2024 swing: -4.4pp toward R · 2008: -54.2pp · 2024: -58.7pp
• All cycles: 2024: R+58.7 2020: R+55.5 2016: R+59.4 2012: R+52.8 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.32%
• Current HPI: 194.6541
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-34.4% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $99,000 PRCBOR
• 2026-01-06 Price Changed $120,000 PRCBOR
• 2025-12-12 Listed $151,000 PRCBOR
• 1997-11-14 Sold (Public Records) — Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,134 · +0.4% YoY. Source: county tax records.