809 Maxwell Dr

Glendale, MS 39401

$169,900D+

3 bd · 1.0 ba · 1,980 sqft · Built 1961 · SingleFamily · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,402/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$209
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $7/mo
• Annual: $87/yr
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• 1% rule: 0.83%
• Cash to close: $47,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $170k.
• At list price, monthly cash flow is $7 ($87/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (17.5% below list).
• It's been on market 95 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (17.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#334 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, schools F, amenities F.
• Forrest County School District (rural): math 39% / reading 36% proficiency, ranked #47 of 130 in MS (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 261 active listings in the ZIP; lower-income renter base — watch delinquency; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 41% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 95 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.