210 Eureka St

Batesville, MS 38606

$152,000C

3 bd · 1.0 ba · 1,461 sqft · Built 1920 · SingleFamily · Active · 144 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,459/mo
• Mortgage (P&I): −$797
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $220/mo
• Annual: $2,643/yr
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• 1% rule: 0.96%
• Cash to close: $42,560

Investor read

• This is a 3-bed/1.0-bath single-family listed at $152k.
• At list price, monthly cash flow is $220 ($3k/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 $146k (4.0% below list).
• It's been on market 144 days — a 12% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (12.0% below list) — sets the bar for market timing.
• 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 58/100 on livability (#268 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, health & safety D+.
• South Panola School District (town): math 31% / reading 32% proficiency, ranked #65 of 130 in MS (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 121 active listings in the ZIP; 10 units permitted in Panola County in 2024 (0 in 5+ unit buildings).
• Panola County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $13k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.0% vs local median 3.5% in Batesville — 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.

Questions for listing agent

• It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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 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?
• Crime grade is F 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?
• 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.