307 S Steele Ave · Picayune, MS 39466

$174,500

4 bd · 1.0 ba · 1,518 sqft · SingleFamily public records · 288 Days on market

Built 1960 0.30 ac lot Est $216k · 19% under ↓ 17% 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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

Key facts

• Storage shed
• Hvac system
• 0.3 acre lot

Tags

• HVAC SYSTEM
• FULLY FENCED BACKYARD
• STORAGE SHED

Property features AI

Finance

• Other: Lot approximately 0.3 acres

Exterior

• Parking: Driveway (paved)
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected
• Home design: Single-family house; One story
• Construction: Brick construction; Architectural shingle roof; Slab foundation; Built information from assessor
• Exterior features: Front porch; Privacy fencing; Shed(s) on the property

Interior

• Kitchen: Dishwasher; Electric range; Vented exhaust fan
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central electric air conditioning
• Interior features: Move-in ready condition; See remarks (additional exterior/interior details noted in listing remarks)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $71 ($853/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 $144k (17.2% below list).
• Recommended offer: $144k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.3% in Picayune — 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 76/100 on livability (#11 in MS, #3,748 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, amenities A; Watch: commute F, employment F.
• Picayune School District (town): math 31% / reading 34% proficiency, ranked #60 of 130 in MS (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roseland Park Elementary School (math 27% / reading 30%, grade F, #195 of 375 statewide, top 52%, 366 students, 100% FRL); Picayune Junior High School (math 40% / reading 33%, grade F, #77 of 179 statewide, top 43%, 510 students, 100% FRL); Picayune Memorial High School (math 21% / reading 41%, grade F, #85 of 197 statewide, top 43%, 941 students, 100% FRL) — zoned schools average 100% FRL vs 73% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 349 active listings in the ZIP; 326 units permitted in Pearl River County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Pearl River County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 288 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $35k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% 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 $144,423 (17.2% below list)

Questions for the listing agent

1. It's been on market 288 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.83% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $215,556
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 S Monroe Ave	0.21mi	3/2.0 (-1)	1,500 (-1%)	4mo	$179,900	$120	76
900 Mitchell St St	0.42mi	4/2.0	1,514 (-0%)	20mo	$215,000	$142	59
628 Telly Rd	0.57mi	3/2.0 (-1)	1,600 (+5%)	2mo	$229,900	$144	54
414 5th Ave	0.65mi	3/1.0 (-1)	1,504 (-1%)	14mo	$135,000	$90	51
820 Mitchell St	0.42mi	3/2.0 (-1)	1,300 (-14%)	4mo	$208,900	$161	44
220 N N Green St Ave	0.36mi	3/2.0 (-1)	1,715 (+13%)	20mo	$225,000	$131	36

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-23,810
• Equity at exit: $26,019

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-15,154
• Equity at exit: $15,088

Cash invested: $48,860 (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 39466

• Home prices YoY: -26.3%
• Active inventory: 349
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$915
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $71

Break-even live

Break-even rent $1,354

Max offer price $174,500

Occupancy floor 90%

Sensitivity live

Price	-10% $170	-5% $120	+0% $71	+5% $22	+10% $-28
Rent	-10% $-43	-5% $14	+0% $71	+5% $128	+10% $185
Rate	-1.0pp $159	-0.5pp $115	base $71	+0.5pp $26	+1.0pp $-20

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: $43,625
• Closing costs: $5,235
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $174,500 Active 288 DOM
2. 2026-06-21
   days on market $174,500 Active 287 DOM
3. 2026-06-18
   days on market $174,500 Active 285 DOM
4. 2026-06-17
   days on market $174,500 Active 284 DOM
5. 2026-06-16
   days on market $174,500 Active 283 DOM
6. 2026-06-15
   days on market $174,500 Active 282 DOM
7. 2026-06-13
   days on market $174,500 Active 280 DOM
8. 2026-06-12
   days on market $174,500 Active 279 DOM
9. 2026-06-09
   days on market $174,500 Active 276 DOM
10. 2026-06-08
    days on market $174,500 Active 275 DOM
11. 2026-06-07
    days on market $174,500 Active 274 DOM
12. 2026-06-07
    days on market $174,500 Active 273 DOM
13. 2026-06-04
    days on market $174,500 Active 270 DOM
14. 2026-06-03
    days on market $174,500 Active 269 DOM
15. 2026-06-01
    days on market $174,500 Active 268 DOM
16. 2026-05-31
    days on market $174,500 Active 267 DOM
17. 2026-05-19
    status Active
18. 2026-04-29
    status Pending
19. 2026-02-28
    status Active 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

20. 2026-02-27
    status Active
21. 2026-02-21
    status Pending 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

22. 2026-02-04
    historical Active Under Contract 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

23. 2026-02-03
    status Pending
24. 2026-01-23
    status Active 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

25. 2026-01-23
    price $174,500 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

26. 2026-01-23
    status Active

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

27. 2026-01-23
    price $174,500

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

28. 2026-01-21
    historical 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

29. 2026-01-14
    historical
30. 2025-10-06
    price $199,000 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

31. 2025-10-06
    price $199,000

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

32. 2025-09-09
    price $208,900 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

33. 2025-09-09
    price $208,900

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

34. 2025-07-15
    listed $209,500 Active 711-char remark

    Show marketing remark (711 chars)

    Charming 4-Bedroom Home Close to Town! Welcome to this well-maintained 4-bedroom, 2-bath home ideally located just minutes from town, offering both comfort and convenience. Featuring a 3-year-old HVAC system, you'll enjoy energy efficiency and year-round comfort. The spacious layout includes a bright living area, functional kitchen, and four bedrooms perfect for families, guests, or a home office setup. Step outside to a fully fenced backyard, ideal for kids, pets, and outdoor entertaining. A storage shed purchased in 2022 adds bonus space for tools, toys, or hobbies. This move-in ready home combines suburban privacy with easy access to shops, schools, and restaurants—don't miss this opportunity!

35. 2025-07-14
    listed $209,500 Active
36. 2022-07-12
    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: $984 · $82/mo
• Projected year-2 tax: $1,379 · $115/mo
• Expected delta: +$394/yr (+$33/mo · 40.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $17,331
• − Mortgage interest: −$9,775
• − Property taxes: −$984
• − Insurance: −$872
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$5,076
• Taxable loss: −$2,150
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $1,369/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)

• District: Picayune School District
• NCES district ID: 2803630
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $38,446
• Composite: 27.17/100
• National rank: #7025
• State rank: #60 of 130 in MS

Livability — Picayune

• Score: 76/100
• State rank: #11
• US rank: #3748

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Picayune, MS
• Population (ZIP): 28,292

Population outlook (Pearl River County) Hauer SSP2

• Today (2025): 53,426 people
• By 2030: 51,663 · -3.3%
• By 2040: 47,611 · -10.9%
• By 2050: 43,286 · -19.0%
• By 2075: 32,859 · -38.5%
• By 2100: 22,476 · -57.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 9% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Pearl River

• 2024 margin: Solid R (+66.7) · D 16.1% · R 82.8% · Other 1.0%
• 2008→2024 swing: -6.3pp toward R · 2008: -60.4pp · 2024: -66.7pp
• All cycles: 2024: R+66.7 2020: R+64.2 2016: R+66.8 2012: R+60.3 2008: R+60.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.32%
• Current HPI: 194.6541
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-16.7% since first listed

20 events — show timeline

• 2026-05-19 Relisted — MLSU
• 2026-04-29 Pending — MLSU
• 2026-02-28 Relisted — PRCBOR
• 2026-02-27 Relisted — MLSU
• 2026-02-21 Pending — PRCBOR
• 2026-02-04 Contingent — PRCBOR
• 2026-02-03 Pending — MLSU
• 2026-01-23 Relisted — PRCBOR
• 2026-01-23 Price Changed $174,500 PRCBOR
• 2026-01-23 Relisted — MLSU
• 2026-01-23 Price Changed $174,500 MLSU
• 2026-01-21 Delisted — PRCBOR
• 2026-01-14 Listing Removed — MLSU
• 2025-10-06 Price Changed $199,000 PRCBOR
• 2025-10-06 Price Changed $199,000 MLSU
• 2025-09-09 Price Changed $208,900 PRCBOR
• 2025-09-09 Price Changed $208,900 MLSU
• 2025-07-15 Listed $209,500 PRCBOR
• 2025-07-14 Listed $209,500 MLSU
• 2022-07-12 Sold (Public Records) — Public Records

Property tax history

+8.8%/yr

Latest (2025): $984 · +3.7% YoY. Source: county tax records.