142 Drive 1227 · Saltillo, MS 38866

$164,000

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 34 Days on market

Built 1965 $10/mo HOA

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Why this score? — see what drove the D- 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 +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Saltillo Fishing Club - This agent-owned total renovation is 3 bedrooms/1 bathroom, and comes with access to all 4 lakes. New: Trane HVAC & duct work, roof, windows, kitchen cabinets, countertops & stainless steel appliances, lvp flooring throughout, attic stairs for easy storage, light fixtures/fans, paint, and newly lime washed fireplace w/ Buck Stove. The laundry room is now accessible from inside the house, and the kitchen has been opened to the living room. SFC is a private club that requires board approval and is a stock-owned property and may require special financing. Association dues are $125 annually. All info subject to verification. Owner is a licensed MS Realtor.

Key facts

• New duct work
• New kitchen cabinets
• New trane hvac

Tags

• ACCESS TO ALL 4 LAKES
• NEW TRANE HVAC
• NEW DUCT WORK
• NEW ROOF
• NEW WINDOWS
• NEW KITCHEN CABINETS

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $125 (about $10.42/month)

Exterior

• Home design: Single-family residential home; Traditional style; Single-story
• Exterior features: Located in the Saltillo Fishing Club subdivision; Directions: From Mobile Street or the Natchez Trace Parkway 363 exit, head east to Springhill Rd. Follow Springhill to the entrance for Saltillo Fishing Club. House will be the second on the left with driveway before you pass the house.

Interior

• Bathrooms: One full bathroom
• Interior features: 6 total rooms; 1 full bathroom

🏢 Co-op / cooperative unit. The $164,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $8 ($94/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 $127k (22.4% below list).
• Recommended offer: $127k (22.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#48 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Lee County School District (rural): math 37% / reading 35% proficiency, ranked #51 of 130 in MS (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 152 active listings in the ZIP; 154 units permitted in Lee County in 2024 (24 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 $5k of value loss. Plan a longer hold.
• Lee County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,328 (22.4% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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?
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: 0.78% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 10.7

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-26,141
• Equity at exit: $24,453

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-22,381
• Equity at exit: $14,180

Cash invested: $45,920 (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 38866

• Home prices YoY: -18.5%
• Active inventory: 152
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$860
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$68
• HOA: −$10
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $8

Break-even live

Break-even rent $1,263

Max offer price $164,000

Occupancy floor 94%

Sensitivity live

Price	-10% $101	-5% $54	+0% $8	+5% $-39	+10% $-85
Rent	-10% $-93	-5% $-42	+0% $8	+5% $58	+10% $108
Rate	-1.0pp $90	-0.5pp $50	base $8	+0.5pp $-35	+1.0pp $-78

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 21 events

1. 2026-06-21
   days on market $164,000 Active 34 DOM
2. 2026-06-19
   days on market $164,000 Active 32 DOM
3. 2026-06-18
   days on market $164,000 Active 31 DOM
4. 2026-06-17
   days on market $164,000 Active 30 DOM
5. 2026-06-16
   days on market $164,000 Active 29 DOM
6. 2026-06-15
   days on market $164,000 Active 28 DOM
7. 2026-06-14
   days on market $164,000 Active 26 DOM
8. 2026-06-12
   days on market $164,000 Active 25 DOM
9. 2026-06-09
   days on market $164,000 Active 22 DOM
10. 2026-06-08
    days on market $164,000 Active 21 DOM
11. 2026-06-07
    days on market $164,000 Active 20 DOM
12. 2026-06-02
    days on market $164,000 Active 15 DOM
13. 2026-06-01
    days on market $164,000 Active 14 DOM
14. 2026-05-31
    days on market $164,000 Active 13 DOM
15. 2026-05-30
    days on market $164,000 Active 12 DOM
16. 2026-05-18
    listed $164,000 Active
17. 2024-05-28
    status Active
18. 2024-05-09
    price $70,000
19. 2024-03-15
    status Active
20. 2023-11-27
    listed $77,500 Active
21. 2023-01-21
    listed $77,500

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $1,296 · $108/mo
• Expected delta: +$579/yr (+$48/mo · 80.8%)

ⓘ 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 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $15,279
• − Mortgage interest: −$9,187
• − Property taxes: −$716
• − Insurance: −$820
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − HOA: −$120
• − Depreciation: −$4,771
• Taxable loss: −$2,779
• Est. tax savings @ 24.0%: +$667
• After-tax cash flow: $761/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: Lee County School District
• NCES district ID: 2802550
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $41,435
• Composite: 30.38/100
• National rank: #6253
• State rank: #51 of 130 in MS

Livability — Saltillo

• Score: 69/100
• State rank: #48
• US rank: #8244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,714
• Population (ZIP): 11,714

Population outlook (Lee County) Hauer SSP2

• Today (2025): 90,253 people
• By 2030: 92,125 · +2.1%
• By 2040: 94,914 · +5.2%
• By 2050: 95,841 · +6.2%
• By 2075: 94,189 · +4.4%
• By 2100: 83,736 · -7.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 9% Asian 2% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 96% English-only · Vietnamese 2% Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.9% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -30.5pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+32.5 2016: R+37.7 2012: R+29.0 2008: R+30.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.48%
• Current HPI: 173.8036
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+111.6% since first listed

6 events — show timeline

• 2026-05-18 Listed $164,000 NEMSBD
• 2024-05-28 Relisted — NEMSBD
• 2024-05-09 Price Changed $70,000 NEMSBD
• 2024-03-15 Relisted — NEMSBD
• 2023-11-27 Listed $77,500 NEMSBD
• 2023-01-21 Listed $77,500 NEMSBD

Property tax history

+12.3%/yr

Latest (2025): $716 · +1.3% YoY. Source: county tax records.