479 E Main St · Gloster, MS 39638

$35,000

3 bd · 2.5 ba · 2,337 sqft · SingleFamily · 14 Days on market

Built 1935 Poor condition 0.84 ac lot ↓ 34% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.5/10.0
• Condition / age +1.0/5.0

Listing remarks

Great fixer upper in Gloster MS. This is a wonderful oppurtunity to put those HGTV ideas to work. Call today to turn this property into your dream home. This is a Fannie Mae Homepath property. First Time Buyers, complete the Homepath Ready homeownership course on Homepath.com. Attach certificate to offer up to 3% closing assistance. Check Homepath.com for more details. Restrictions apply.

Key facts

• 0.84 acre lot
• 2 garage spots
• Built 1935

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Utilities: Public water; Public sewer; Electricity available; Water available; Sewer available
• Home design: Single Family Residence (house); One level; General Residence District zoning
• Construction: Vinyl exterior; Conventional foundation; Built (year source: assessor)
• Exterior features: Composition roof; Other exterior features; Corner lot

Interior

• Kitchen: Dishwasher; Microwave
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heating present (type: other); Ceiling fans for cooling
• Interior features: Dishwasher; Microwave; Fireplace in the den; Wood-framed windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).

Location & tenants

• Location reads 50/100 on livability (#343 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Amite County School District (rural): math 21% / reading 17% proficiency, ranked #95 of 130 in MS (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP.

Forward outlook

• In year one you build about $826 of equity ($242 loan paydown + $584 appreciation (1.7% local appreciation)).
• Amite County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $35,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.33% ✓
• Cap rate: 29.57%
• Cash-on-cash: 83.13%
• DSCR: 4.70
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $91,143
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
260 E Florence St	0.27mi	4/2.0 (+1)	2,200 (-6%)	23mo	$86,000	$39	52
517 E Railroad Ave	0.42mi	4/2.5 (+1)	2,244 (-4%)	20mo	$79,900	$36	52

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

Projected returns pro-forma

1.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.6%
• Equity multiple: 5.60×
• Total profit: $45,068
• Equity at exit: $13,180

10-year hold

• IRR: 87.0%
• Equity multiple: 11.51×
• Total profit: $103,031
• Equity at exit: $18,510

Cash invested: $9,800 (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 39638

• Home prices YoY: 1.7%
• Active inventory: 25
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $679

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 37%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $35,000 Active 14 DOM
2. 2026-06-17
   days on market $35,000 Active 13 DOM
3. 2026-06-16
   days on market $35,000 Active 12 DOM
4. 2026-06-15
   days on market $35,000 Active 11 DOM
5. 2026-06-13
   days on market $35,000 Active 9 DOM
6. 2026-06-12
   days on market $35,000 Active 8 DOM
7. 2026-06-09
   days on market $35,000 Active 5 DOM
8. 2026-06-08
   days on market $35,000 Active 4 DOM
9. 2026-06-07
   days on market $35,000 Active 3 DOM
10. 2026-06-07
    remarks 391-char remark
11. 2026-06-07
    listed $35,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $13,986
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$1,018
• Taxable income: $8,070
• Est. tax owed @ 24.0%: −$1,937
• After-tax cash flow: $6,210/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This fixer-upper in Gloster, MS requires extensive renovations to bring it up to modern standards and increase its value.

Repairs flagged

• Major kitchen cabinets — Structural damage
• Major kitchen countertops — Severe wear
• Major bathroom fixtures — Old-fashioned and non-functional
• Major roof — Damaged shingles
• Major exterior siding — Peeling paint and damage
• Major HVAC/mechanicals — No visible signs of functioning systems
• Major landscaping — Overgrown lawn and unkempt appearance

Value-add opportunities

• Both Kitchen renovation — Modernizing the kitchen will increase both resale and rental value
• Both Bathroom renovation — Updating the bathrooms will increase both resale and rental value
• Both Roof replacement — A new roof will improve the home's appearance and increase its value
• Both Exterior siding repair — Repairing the siding will improve the home's curb appeal and increase its value
• Both HVAC system replacement — A new HVAC system will improve comfort and increase the home's value
• Both Landscaping and curb appeal — A well-maintained lawn and landscaping will improve the home's curb appeal and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Structural damage	Major	$15,000–50,000
kitchen countertops · Severe wear	Major	$15,000–50,000
bathroom fixtures · Old-fashioned and non-functional	Major	$15,000–50,000
roof · Damaged shingles	Major	$15,000–50,000
exterior siding · Peeling paint and damage	Major	$15,000–50,000
HVAC/mechanicals · No visible signs of functioning systems	Major	$15,000–50,000
landscaping · Overgrown lawn and unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Kitchen renovation — Modernizing the kitchen will increase both resale and rental value ↑
• Both Bathroom renovation — Updating the bathrooms will increase both resale and rental value ↑
• Both Roof replacement — A new roof will improve the home's appearance and increase its value ↑
• Both Exterior siding repair — Repairing the siding will improve the home's curb appeal and increase its value ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and increase the home's value ↑
• Both Landscaping and curb appeal — A well-maintained lawn and landscaping will improve the home's curb appeal and increase its value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Amite County School District
• NCES district ID: 2800420
• Math proficiency: 21% ▲ 7.00%
• Reading proficiency: 17% ▼ -2.00%
• Median HH income: $30,275
• Composite: 15.22/100
• National rank: #9340
• State rank: #95 of 130 in MS

Livability — Gloster

• Score: 50/100
• State rank: #343
• US rank: #25560

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloster, MS
• Population (ZIP): 3,478

Population outlook (Amite County) Hauer SSP2

• Today (2025): 11,300 people
• By 2030: 10,527 · -6.8%
• By 2040: 8,881 · -21.4%
• By 2050: 7,326 · -35.2%
• By 2075: 4,691 · -58.5%
• By 2100: 3,035 · -73.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (53%)
• Race & ethnicity: Black 53% White 47%
• Common ancestry: Lithuanian 3% Serbian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Amite

• 2024 margin: Solid R (+32.8) · D 33.0% · R 65.8% · Other 1.2%
• 2008→2024 swing: -21.1pp toward R · 2008: -11.7pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+26.1 2016: R+22.7 2012: R+15.3 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.67%
• Current HPI: 100.2631
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-34.0% since first listed

6 events — show timeline

• 2026-06-04 Listed $35,000 MLSU
• 2026-02-23 Listing Removed — MLSU
• 2026-01-12 Listed $39,900 MLSU
• 2025-09-22 Listing Removed — MLSU
• 2025-08-09 Price Changed $50,000 MLSU
• 2025-06-05 Listed $53,000 MLSU