24776 N Highway 61

Coahoma, MS 38617

$14,812D+

4 bd · 2.0 ba · 1,866 sqft · Built 1923 · Other · Active · 359 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,309/mo
• Mortgage (P&I): −$78
• Tax + insurance: −$17
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $940/mo
• Annual: $11,277/yr
• Cap rate: 82.42%
• Cash-on-cash: 271.90%
• DSCR: 13.10
• 1% rule: 8.84%
• Cash to close: $4,147

Investor read

• This is a 4-bed/2.0-bath other listed at $15k.
• At list price, monthly cash flow is $940 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• It's been on market 359 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• In year one you build about $546 of equity ($102 loan paydown + $444 appreciation (3.0% local appreciation)).
• Location reads 49/100 on livability (#348 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, crime D+, amenities F.
• Coahoma County School District (rural): math 16% / reading 18% proficiency, ranked #103 of 130 in MS (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jonestown Elementary School (math 12% / reading 17%, grade F, #279 of 375 statewide, top 77%, 118 students, 100% FRL); Coahoma County Jr/Sr High School (math 11% / reading 15%, grade F, #155 of 197 statewide, top 80%, 516 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 26 units permitted in Coahoma County in 2024 (0 in 5+ unit buildings).
• Coahoma County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $53k (78%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• It's been on market 359 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1923 — 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?
• Crime grade is D 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?
• 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.