500 Alverton Ct · Flowood, MS 39047

$269,000

4 bd · 1.0 ba · 2,098 sqft · SingleFamily public records · 39 Days on market

Built 1979 0.62 ac lot $128/sqft · 8% below area Est $293k · 8% under

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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 +18.1/30.0
• ARV discount +11.1/15.0
• DSCR +5.7/10.0
• Schools +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

Key facts

• 0.62 acre lot
• 2 garage spots
• Community pool

Property features AI

Finance

• HOA & community: Community clubhouse; Community pool; Community golf; Community tennis courts

Exterior

• Parking: Attached 2-car garage (garage faces side); 2 total parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Single-family house; One story; Move-in ready
• Construction: Stone and wood siding exterior; Architectural shingle roof; Slab foundation; Built (year per public records)
• Exterior features: Private yard; Patio; Rain gutters; Fenced backyard

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Stainless steel appliances
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: Beamed ceilings; Vaulted ceilings; Ceiling fan(s); Double vanity; Pantry; Den with fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (9.4% below list).
• Recommended offer: $235k (12.5% below list) — sets the bar for cash-flow.
• Cap rate 7.3% vs local median 4.3% in Flowood — 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 77/100 on livability (#10 in MS, #3,075 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Rankin County School District (rural): math 56% / reading 48% proficiency, ranked #6 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Northwest Elementary School (math 58% / reading 57%, grade C+, #36 of 375 statewide, top 9%, 495 students, 99% FRL); Northwest Rankin Middle School (math 63% / reading 51%, grade B, #13 of 179 statewide, top 7%, 1,374 students, 100% FRL); Northwest Rankin High School (math 48% / reading 42%, grade D-, #34 of 197 statewide, top 17%, 1,898 students, 100% FRL) — zoned schools average 100% FRL vs 35% district-wide (65 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.9%/yr); 440 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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.

Recommended offer $235,388 (12.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (median comp): $292,675
• List price: $269,000
• Delta: -8.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
543 Branbury Ct	0.25mi	4/2.0	2,236 (+7%)	7mo	$325,000	$145	68
304 Morning Star Cv	0.66mi	4/2.5	2,032 (-3%)	3mo	$392,000	$193	56
304 Fairway Cv	0.40mi	3/2.0 (-1)	2,359 (+12%)	0mo	$455,000	$193	51
131 Woodlands Green Dr	0.68mi	4/2.0	2,239 (+7%)	4mo	$374,900	$167	50
193 Grace Dr	0.66mi	4/2.5	2,290 (+9%)	0mo	$425,000	$186	48
320 Woodhollow Cv	0.55mi	4/2.0	2,317 (+10%)	7mo	$306,990	$132	47
102 Parkview Ln	0.60mi	3/2.5 (-1)	1,984 (-5%)	7mo	$269,900	$136	46
212 Edinburgh Ct	0.54mi	4/3.0	2,285 (+9%)	7mo	$305,000	$133	46
701 Prosperity Xing	0.66mi	3/2.0 (-1)	1,913 (-9%)	2mo	$368,000	$192	44
704 Prosperity Xing	0.70mi	3/2.0 (-1)	1,958 (-7%)	4mo	$360,000	$184	44
271 Azalea Ct	0.44mi	3/2.5 (-1)	1,799 (-14%)	2mo	$289,000	$161	43
213 Boxwood Cir	0.59mi	3/2.0 (-1)	1,799 (-14%)	7mo	$269,000	$150	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.26×
• Total profit: $-55,758
• Equity at exit: $40,109

10-year hold

• IRR: -15.1%
• Equity multiple: 0.15×
• Total profit: $-64,371
• Equity at exit: $23,258

Cash invested: $75,320 (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 39047

• Home prices YoY: -32.6%
• Rents YoY: 2.9%
• Active inventory: 440
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,437 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$166 /mo · $1,994/yr
• Insurance: −$112
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-190

Break-even live

Break-even rent $2,678

Max offer price $235,388

Occupancy floor —

Sensitivity live

Price	-10% $-38	-5% $-114	+0% $-190	+5% $-266	+10% $-343
Rent	-10% $-383	-5% $-287	+0% $-190	+5% $-94	+10% $2
Rate	-1.0pp $-55	-0.5pp $-122	base $-190	+0.5pp $-260	+1.0pp $-331

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Cypress Ridge Dr Brandon, MS	3.0	2.0	1911	$2,206	$1.15	45d	1	0.76mi
917 Willow Grande Cir Brandon, MS	4.0	2.0	1823	$2,400	$1.32	15d	1	1.37mi
133 Cumberland Rd Brandon, MS	4.0	3.0	1846	$2,225	$1.21	25d	1	1.42mi
413 Shenandoah Rd N Brandon, MS	4.0	2.0	1715	$2,056	$1.20	15d	1	1.44mi

Listing history 31 events

1. 2026-06-22
   days on market $269,000 Active 39 DOM
2. 2026-06-18
   days on market $269,000 Active 36 DOM
3. 2026-06-17
   days on market $269,000 Active 35 DOM
4. 2026-06-16
   days on market $269,000 Active 34 DOM
5. 2026-06-15
   days on market $269,000 Active 33 DOM
6. 2026-06-14
   days on market $269,000 Active 31 DOM
7. 2026-06-13
   days on market $269,000 Active 30 DOM
8. 2026-06-10
   days on market $269,000 Active 28 DOM
9. 2026-06-09
   days on market $269,000 Active 27 DOM
10. 2026-06-08
    days on market $269,000 Active 26 DOM
11. 2026-06-07
    days on market $269,000 Active 25 DOM
12. 2026-06-03
    days on market $269,000 Active 21 DOM
13. 2026-06-02
    days on market $269,000 Active 20 DOM
14. 2026-06-01
    days on market $269,000 Active 19 DOM
15. 2026-06-01
    price $269,000 Active 18 DOM
16. 2026-05-31
    days on market $275,000 Active 18 DOM
17. 2026-05-30
    days on market $275,000 Active 17 DOM
18. 2026-05-13
    price $279,000 572-char remark
19. 2026-05-13
    listed $278,000 Active 572-char remark
20. 2023-07-17
    soldstatus
21. 2023-07-13
    soldstatus Closed 1035-char remark

    Show marketing remark (1035 chars)

    Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

22. 2023-05-15
    status Pending 1035-char remark

    Show marketing remark (1035 chars)

    Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

23. 2023-04-27
    price $273,900 1035-char remark

    Show marketing remark (1035 chars)

    Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

24. 2023-03-25
    price $279,000 1035-char remark

    Show marketing remark (1035 chars)

    Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

25. 2023-03-01
    price $281,500 1035-char remark

    Show marketing remark (1035 chars)

    Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

26. 2023-02-16
    listed $287,000 Active 1035-char remark

    Show marketing remark (1035 chars)

    Must see!!! Newly remodeled home situated on a beautiful corner lot in highly sought after Castlewoods in Rankin county. This eye catching home has been updated with fresh neutral paint, new vinyl wood floors and tile throughout the home, fresh landscaping, and brand new architectural roof. Setup your appointment soon to view this 3 bedroom 2 bath home. Plus, an extra room with oversized closet is located off the garage and it could be used as a bedroom, office, or playroom. The possibilities of its use are endless! The living area boasts a soaring, vaulted ceiling accented with painted beams. All bedrooms are quite spacious and have large closets. The kitchen features stainless steel appliances, lots of cabinet space, a large walk in pantry, and a breakfast area accompanied with a large area that could be used as a sitting room. This community has lots of amenities available to its residents including club membership, clubhouse, pool, tennis courts, and golf. This home will not last long. Check it out before it's gone!

27. 2022-10-05
    soldstatus
28. 2020-07-15
    soldstatus

    Show marketing remark (384 chars)

    This home is being sold "as is where is" *** INVESTOR SPECIAL**** The property has flooded before and does require flood insurance. The home has recently been updated but does need flooring. The kitchen and bathrooms look great!! There is 2 rooms off the garage that could be used as a mother in law type set up. At this price for this area you must get your offer in Quick!

29. 2020-05-15
    listed $127,900

    Show marketing remark (384 chars)

    This home is being sold "as is where is" *** INVESTOR SPECIAL**** The property has flooded before and does require flood insurance. The home has recently been updated but does need flooring. The kitchen and bathrooms look great!! There is 2 rooms off the garage that could be used as a mother in law type set up. At this price for this area you must get your offer in Quick!

30. 2020-04-28
    soldstatus
31. 2004-06-09
    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: $1,994 · $166/mo
• Projected year-2 tax: $2,125 · $177/mo
• Expected delta: +$131/yr (+$11/mo · 6.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,244
• − Mortgage interest: −$15,068
• − Property taxes: −$1,994
• − Insurance: −$6,464
• − Repairs & maintenance: −$2,340
• − Management: −$2,340
• − Depreciation: −$7,825
• Taxable loss: −$6,787
• Est. tax savings @ 24.0%: +$1,629
• After-tax cash flow: $-654/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: Rankin County School District
• NCES district ID: 2803830
• Math proficiency: 56% ▼ -4.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $61,867
• Composite: 45.62/100
• National rank: #2587
• State rank: #6 of 130 in MS

Livability — Flowood

• Score: 77/100
• State rank: #10
• US rank: #3075

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rankin County · 123,614 people
• City population: 9,222
• Metro: Jackson, MS
• Population (ZIP): 40,808
• Household income: $100,347
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 551.0

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 16% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Italian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.01%
• Current HPI: 162.9709
• Rent YoY: ▲ 2.90%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+110.3% since first listed

16 events — show timeline

• 2026-05-31 Price Changed $269,000 MLSU
• 2026-05-23 Price Changed $275,000 MLSU
• 2026-05-13 Price Changed $279,000 MLSU
• 2026-05-13 Listed $278,000 MLSU
• 2023-07-17 Sold (Public Records) — Public Records
• 2023-07-13 Sold (MLS) — MLSU
• 2023-05-15 Pending — MLSU
• 2023-04-27 Price Changed $273,900 MLSU
• 2023-03-25 Price Changed $279,000 MLSU
• 2023-03-01 Price Changed $281,500 MLSU
• 2023-02-16 Listed $287,000 MLSU
• 2022-10-05 Sold (Public Records) — Public Records
• 2020-07-15 Sold (MLS) — MLSU
• 2020-05-15 Listed $127,900 MLSU
• 2020-04-28 Sold (Public Records) — Public Records
• 2004-06-09 Sold (Public Records) — Public Records

Property tax history

+12.9%/yr

Latest (2024): $1,994 · -20.7% YoY. Source: county tax records.