603 W Market St · Greenwood, MS 38930

$19,900

2 bd · 2.0 ba · 1,760 sqft · SingleFamily public records · 151 Days on market

Built 1930 5,800 sqft lot $11/sqft · 86% below area ↓ 50% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

Key facts

• 5,800 sq ft lot
• Built 1930
• Listed 150 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 48.5% vs local median 4.9% in Greenwood — 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 71/100 on livability (#31 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D, amenities F, commute F.
• Market conditions: 100 active listings in the ZIP; 9 units permitted in Leflore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• Leflore County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.43% ✓
• Cap rate: 48.48%
• Cash-on-cash: 150.67%
• DSCR: 7.70
• GRM: 1.5

CMA / ARV

• ARV (median comp): $148,648
• List price: $19,900
• Delta: -86.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1103 Strong Ave	0.43mi	2/2.0	1,617 (-8%)	4mo	$12,000	$7	63
112 E Jefferson Ave	0.54mi	3/2.5 (+1)	1,754 (-0%)	7mo	$190,000	$108	62
409 Crockett Ave	0.59mi	2/2.0	1,731 (-2%)	23mo	$148,000	$85	51
118 E Monroe Ave	0.71mi	3/2.0 (+1)	1,812 (+3%)	9mo	$110,000	$61	50
105 Peel St	0.30mi	3/1.0 (+1)	1,620 (-8%)	18mo	$127,500	$79	49
306 Magnolia St	0.45mi	3/2.0 (+1)	1,594 (-9%)	12mo	$113,000	$71	48
1205 Leflore Ave	0.53mi	3/1.0 (+1)	1,608 (-9%)	9mo	$75,000	$47	44
1113 Saffold Ave	0.74mi	3/2.0 (+1)	1,650 (-6%)	17mo	$87,500	$53	36
504 Cherokee Rd	0.71mi	3/2.0 (+1)	1,628 (-8%)	22mo	$34,900	$21	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.42×
• Total profit: $41,361
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 17.78×
• Total profit: $93,501
• Equity at exit: $1,721

Cash invested: $5,572 (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 38930

• Home prices YoY: -18.6%
• Active inventory: 100
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,081 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$42 /mo · $502/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $700

Break-even live

Break-even rent $196

Max offer price $19,900

Occupancy floor 30%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $19,900 Active 151 DOM
2. 2026-06-17
   days on market $19,900 Active 150 DOM
3. 2026-06-16
   days on market $19,900 Active 149 DOM
4. 2026-06-15
   days on market $19,900 Active 148 DOM
5. 2026-06-13
   days on market $19,900 Active 146 DOM
6. 2026-06-12
   days on market $19,900 Active 145 DOM
7. 2026-06-09
   days on market $19,900 Active 142 DOM
8. 2026-06-08
   days on market $19,900 Active 141 DOM
9. 2026-06-07
   days on market $19,900 Active 140 DOM
10. 2026-06-04
    days on market $19,900 Active 136 DOM
11. 2026-06-02
    days on market $19,900 Active 135 DOM
12. 2026-04-30
    price $19,900 150-char remark

    Show marketing remark (150 chars)

    DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

13. 2026-04-28
    status Active 150-char remark

    Show marketing remark (150 chars)

    DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

14. 2026-04-01
    price $24,900 150-char remark

    Show marketing remark (150 chars)

    DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

15. 2026-03-03
    price $29,900 150-char remark

    Show marketing remark (150 chars)

    DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

16. 2026-02-04
    price $34,900 150-char remark

    Show marketing remark (150 chars)

    DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

17. 2026-01-09
    listed $39,500 Active 150-char remark

    Show marketing remark (150 chars)

    DIST:1110 SEC/TWN/RNG/MER:SEC 10 TWN 19 RNG 01E LOT 10 LESS 46 OFF SOUTH END BLOCK 48 HENRY ADDITION 603 WEST MARKET 50 X 116 To be sold as condition.

18. 2002-05-22
    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: $502 · $42/mo
• Projected year-2 tax: $502 · $42/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $12,974
• − Mortgage interest: −$1,115
• − Property taxes: −$502
• − Insurance: −$100
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$579
• Taxable income: $8,603
• Est. tax owed @ 24.0%: −$2,065
• After-tax cash flow: $6,331/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)

No district data.

Livability — Greenwood

• Score: 71/100
• State rank: #31
• US rank: #6625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, MS
• Population (ZIP): 23,326

Population outlook (Leflore County) Hauer SSP2

• Today (2025): 27,008 people
• By 2030: 25,362 · -6.1%
• By 2040: 22,049 · -18.4%
• By 2050: 19,188 · -29.0%
• By 2075: 13,543 · -49.9%
• By 2100: 8,913 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 25% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Leflore

• 2024 margin: Solid D (+38.5) · D 68.7% · R 30.3%
• 2008→2024 swing: +1.7pp toward D · 2008: 36.8pp · 2024: 38.5pp
• All cycles: 2024: D+38.5 2020: D+41.5 2016: D+41.0 2012: D+45.8 2008: D+36.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.32%
• Current HPI: 150.2668
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-49.6% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $19,900 Greenville Area MLS
• 2026-04-28 Relisted — Greenville Area MLS
• 2026-04-01 Price Changed $24,900 Greenville Area MLS
• 2026-03-03 Price Changed $29,900 Greenville Area MLS
• 2026-02-04 Price Changed $34,900 Greenville Area MLS
• 2026-01-09 Listed $39,500 Greenville Area MLS
• 2002-05-22 Sold (Public Records) — Public Records

Property tax history

-1.2%/yr

Latest (2025): $502 · -14.5% YoY. Source: county tax records.