719 Water Tank Rd · Booneville, MS 38829

$150,000

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 59 Days on market

Built 2007 1.00 ac lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

GREAT INVESTMENT PROPERTY!! Don't miss out on this duplex, 2 Bedroom, 1 bath on each side. This duplex is situated on 1.74 acre lot, and only minutes from downtown. HVAC is only 6 months old. Call us today for your private showing. ..

Key facts

• 1.74 acre lot
• 1 acre lot
• Built 2007

Tags

• 1.74 ACRE LOT
• HVAC IS ONLY 6 MONTHS OLD
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive. Per door: $247/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#117 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Prentiss County School District (rural): math 38% / reading 39% proficiency, ranked #44 of 130 in MS (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 137 active listings in the ZIP; 11 units permitted in Prentiss County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Prentiss County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.09%
• DSCR: 1.63
• GRM: 6.7

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: 4.4%
• Equity multiple: 1.17×
• Total profit: $7,110
• Equity at exit: $22,365

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $46,642
• Equity at exit: $12,969

Cash invested: $42,000 (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 38829

• Active inventory: 137
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,876 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $493

Break-even live

Break-even rent $1,252

Max offer price $150,000

Occupancy floor 69%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,876
Total (2 units)			$1,876

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $150,000 Active 59 DOM
2. 2026-06-17
   days on market $150,000 Active 58 DOM
3. 2026-06-16
   days on market $150,000 Active 57 DOM
4. 2026-06-15
   days on market $150,000 Active 56 DOM
5. 2026-06-13
   days on market $150,000 Active 54 DOM
6. 2026-06-12
   days on market $150,000 Active 53 DOM
7. 2026-06-09
   days on market $150,000 Active 50 DOM
8. 2026-06-08
   days on market $150,000 Active 49 DOM
9. 2026-06-07
   days on market $150,000 Active 48 DOM
10. 2026-06-07
    days on market $150,000 Active 47 DOM
11. 2026-06-04
    days on market $150,000 Active 44 DOM
12. 2026-06-03
    days on market $150,000 Active 43 DOM
13. 2026-06-01
    days on market $150,000 Active 42 DOM
14. 2026-05-31
    days on market $150,000 Active 41 DOM
15. 2026-04-16
    listed $150,000 Active 234-char remark

    Show marketing remark (234 chars)

    GREAT INVESTMENT PROPERTY!! Don't miss out on this duplex, 2 Bedroom, 1 bath on each side. This duplex is situated on 1.74 acre lot, and only minutes from downtown. HVAC is only 6 months old. Call us today for your private showing. ..

16. 2023-12-13
    historical 243-char remark

    Show marketing remark (243 chars)

    Great investment property - duplex on dead end road. This is a Fannie Mae HomePath property. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage Financing and HomePath Renovation Mortgage Financing.

17. 2012-10-15
    listed $49,900 243-char remark

    Show marketing remark (243 chars)

    Great investment property - duplex on dead end road. This is a Fannie Mae HomePath property. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage Financing and HomePath Renovation Mortgage Financing.

ⓘ 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: $1,676 · $140/mo
• Projected year-2 tax: $1,676 · $140/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°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: $22,512
• − Mortgage interest: −$8,402
• − Property taxes: −$1,676
• − Insurance: −$750
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$4,364
• Taxable income: $3,718
• Est. tax owed @ 24.0%: −$892
• After-tax cash flow: $5,027/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: Prentiss County School District
• NCES district ID: 2803750
• Math proficiency: 38% ▼ -19.00%
• Reading proficiency: 39% ▼ -14.00%
• Median HH income: $36,980
• Composite: 32.01/100
• National rank: #5829
• State rank: #44 of 130 in MS

Livability — Booneville

• Score: 65/100
• State rank: #117
• US rank: #13203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 18,036
• Population (ZIP): 18,036

Population outlook (Prentiss County) Hauer SSP2

• Today (2025): 25,348 people
• By 2030: 25,247 · -0.4%
• By 2040: 24,786 · -2.2%
• By 2050: 23,851 · -5.9%
• By 2075: 20,434 · -19.4%
• By 2100: 15,359 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 3% Asian 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · China, South Korea
• Languages at home: 97% English-only · Vietnamese 1% Tagalog/Filipino 1%

Political lean MEDSL · Prentiss

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.7%
• 2008→2024 swing: -23.2pp toward R · 2008: -42.8pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+58.3 2016: R+56.5 2012: R+42.4 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.50%
• Current HPI: 108.2429
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+200.6% since first listed

3 events — show timeline

• 2026-04-16 Listed $150,000 NEMSBD
• 2023-12-13 Delisted — NEMSBD
• 2012-10-15 Listed $49,900 NEMSBD

Property tax history

+2.1%/yr

Latest (2025): $1,676 · +0.0% YoY. Source: county tax records.