163 Waites Rd · Holly Springs, MS 38635

$109,900

2 bd · 1.0 ba · 672 sqft · SingleFamily · 106 Days on market

Built 1979 Fair condition 3.02 ac lot ↓ 41% since listing

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Why this score? — see what drove the C- 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 +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0

Listing remarks MLS

Come view country living in a cozy 1 owner home on 3.025 acres. This home has 2 bedrooms and 1 bath with covered parking. There is also a detached wired storage building / workshop. Home was built in 1979. Bring an OFFER! We are Ready!

Key facts

• Covered parking
• Workshop
• 3.02 acre lot

Tags

• COVERED PARKING
• DETACHED STORAGE BUILDING
• WORKSHOP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.4% in Holly Springs — 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 62/100 on livability (#178 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools F, amenities F, commute F.
• Marshall County School District (rural): math 18% / reading 25% proficiency, ranked #87 of 130 in MS (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 146 active listings in the ZIP; 310 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $749 of equity ($760 loan paydown + $-11 appreciation (-0.0% local appreciation)).
• Marshall County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.00% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.12×
• Total profit: $3,723
• Equity at exit: $31,857

10-year hold

• IRR: 8.0%
• Equity multiple: 1.87×
• Total profit: $26,648
• Equity at exit: $38,249

Cash invested: $30,772 (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 38635

• Home prices YoY: -0.0%
• Active inventory: 146
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $109

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 85%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   status $109,900 Pending 106 DOM
2. 2026-06-16
   days on market $109,900 Active 106 DOM
3. 2026-06-15
   days on market $109,900 Active 105 DOM
4. 2026-06-13
   days on market $109,900 Active 103 DOM
5. 2026-06-10
   days on market $109,900 Active 100 DOM
6. 2026-06-09
   days on market $109,900 Active 99 DOM
7. 2026-06-08
   days on market $109,900 Active 98 DOM
8. 2026-06-07
   days on market $109,900 Active 97 DOM
9. 2026-06-03
   days on market $109,900 Active 93 DOM
10. 2026-06-02
    days on market $109,900 Active 92 DOM
11. 2026-06-01
    days on market $109,900 Active 91 DOM
12. 2026-05-31
    days on market $109,900 Active 90 DOM
13. 2026-05-18
    price $109,900 240-char remark

    Show marketing remark (240 chars)

    Come view country living in a cozy 1 owner home on 3.025 acres. This home has 2 bedrooms and 1 bath with covered parking. There is also a detached wired storage building / workshop. Home was built in 1979. Bring an OFFER! We are Ready!

14. 2026-04-08
    price $139,900 240-char remark

    Show marketing remark (240 chars)

    Come view country living in a cozy 1 owner home on 3.025 acres. This home has 2 bedrooms and 1 bath with covered parking. There is also a detached wired storage building / workshop. Home was built in 1979. Bring an OFFER! We are Ready!

15. 2026-03-16
    price $169,900 240-char remark

    Show marketing remark (240 chars)

    Come view country living in a cozy 1 owner home on 3.025 acres. This home has 2 bedrooms and 1 bath with covered parking. There is also a detached wired storage building / workshop. Home was built in 1979. Bring an OFFER! We are Ready!

16. 2026-03-02
    listed $184,900 Active 240-char remark

    Show marketing remark (240 chars)

    Come view country living in a cozy 1 owner home on 3.025 acres. This home has 2 bedrooms and 1 bath with covered parking. There is also a detached wired storage building / workshop. Home was built in 1979. Bring an OFFER! We are Ready!

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $13,200
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$3,197
• Taxable loss: −$464
• Est. tax savings @ 24.0%: +$111
• After-tax cash flow: $1,425/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 · 13 photos

Fair 45/100 Moderate rehab

This 1979 single-family home on 3.025 acres requires moderate repairs and updates to improve its condition and value.

Repairs flagged

• Minor kitchen cabinets — can be refinished
• Minor bathroom fixtures — can be replaced

Value-add opportunities

• Both paint exterior — enhances curb appeal
• Both replace flooring — improves living experience
• Both update kitchen cabinets — modernizes space
• Both update bathroom fixtures — modernizes space

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · can be refinished	Minor	$500–3,000
bathroom fixtures · can be replaced	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal ↑
• Both replace flooring — improves living experience ↑
• Both update kitchen cabinets — modernizes space ↑
• Both update bathroom fixtures — modernizes space ↑

ⓘ 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: Marshall County School District
• NCES district ID: 2802850
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 25% ▼ -8.00%
• Median HH income: $39,333
• Composite: 18.11/100
• National rank: #8970
• State rank: #87 of 130 in MS

Livability — Holly Springs

• Score: 62/100
• State rank: #178
• US rank: #16836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,312

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 33,542 people
• By 2030: 31,983 · -4.6%
• By 2040: 28,556 · -14.9%
• By 2050: 25,352 · -24.4%
• By 2075: 20,032 · -40.3%
• By 2100: 16,738 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Two or more races 5%
• Common ancestry: Serbian 1% English 1%
• Foreign-born: 3%
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Marshall

• 2024 margin: Lean R (+7.3) · D 46.0% · R 53.2%
• 2008→2024 swing: -25.5pp toward R · 2008: 18.2pp · 2024: -7.3pp
• All cycles: 2024: R+7.3 2020: D+3.1 2016: D+9.7 2012: D+19.4 2008: D+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.01%
• Current HPI: 245.68
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-40.6% since first listed

4 events — show timeline

• 2026-05-18 Price Changed $109,900 MLSU
• 2026-04-08 Price Changed $139,900 MLSU
• 2026-03-16 Price Changed $169,900 MLSU
• 2026-03-02 Listed $184,900 MLSU