621 Washington St · Natchez, MS 39120

$427,900

4 bd · 2.0 ba · 3,812 sqft · SingleFamily public records · 588 Days on market

Built 1834 0.29 ac lot $112/sqft · at area comps Est $488k · 12% under ↓ 7% 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).

• ARV discount +13.0/15.0
• Cash flow +12.4/30.0
• DSCR +3.7/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

Key facts

• 0.29 acre lot
• Parking
• Built 1834

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $428k.

Deal economics

• At list price, monthly cash flow is $-67 ($-808/yr) — negative.
• To cash-flow at today's rent, offer at most $416k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (18.2% below list).
• Recommended offer: $350k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.4% in Natchez — 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 63/100 on livability (#156 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B, housing B; Watch: health & safety C-, amenities F, commute F.
• Natchez-Adams School District (town): math 8% / reading 19% proficiency, ranked #114 of 130 in MS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Susie B West Elementary School (math 8% / reading 17%, grade F, #296 of 375 statewide, top 82%, 369 students, 100% FRL); Morgantown Middle (math 7% / reading 12%); Natchez High School (math 5% / reading 12%, grade F, #183 of 197 statewide, top 93%, 665 students, 100% FRL).
• Market conditions: 283 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Adams County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 588 days — a 12% lower offer ($377k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $32k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1834 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 92% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000 (18.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 588 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1834 — 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. 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: 0.82% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (median comp): $487,760
• List price: $427,900
• Delta: -12.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 Main St	0.16mi	3/2.0 (-1)	4,004 (+5%)	9mo	$329,000	$82	72
309 S Commerce St	0.13mi	5/3.0 (+1)	4,000 (+5%)	8mo	$369,000	$92	70
26 Homochitto St	0.23mi	5/4.0 (+1)	4,100 (+8%)	1mo	$572,000	$140	63
505 South Union St	0.21mi	3/4.5 (-1)	3,807 (-0%)	18mo	$575,000	$151	60
403 N Union St	0.38mi	3/2.5 (-1)	3,344 (-12%)	1mo	$520,000	$156	54
311 Jefferson St	0.38mi	5/3.0 (+1)	4,000 (+5%)	16mo	$595,000	$149	52
611 N Union St	0.56mi	4/4.5	3,435 (-10%)	5mo	$495,500	$144	43

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-73,653
• Equity at exit: $63,801

10-year hold

• IRR: -9.5%
• Equity multiple: 0.42×
• Total profit: $-69,757
• Equity at exit: $36,997

Cash invested: $119,812 (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 39120

• Active inventory: 283
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$2,244
• Tax from tax record: −$410 /mo · $4,921/yr
• Insurance: −$178
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $-67

Break-even live

Break-even rent $3,585

Max offer price $416,000

Occupancy floor 97%

Sensitivity live

Price	-10% $175	-5% $54	+0% $-67	+5% $-188	+10% $-310
Rent	-10% $-344	-5% $-206	+0% $-67	+5% $71	+10% $209
Rate	-1.0pp $148	-0.5pp $41	base $-67	+0.5pp $-178	+1.0pp $-291

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: $106,975
• Closing costs: $12,837
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Devereaux Dr Natchez, MS	3.0	2.0	4000	$3,500	$0.88	45d	1	1.43mi

Listing history 24 events

1. 2026-06-21
   days on market $427,900 Active 588 DOM
2. 2026-06-21
   days on market $427,900 Active 587 DOM
3. 2026-06-18
   days on market $427,900 Active 585 DOM
4. 2026-06-17
   days on market $427,900 Active 584 DOM
5. 2026-06-16
   days on market $427,900 Active 583 DOM
6. 2026-06-15
   days on market $427,900 Active 582 DOM
7. 2026-06-13
   days on market $427,900 Active 580 DOM
8. 2026-06-12
   days on market $427,900 Active 579 DOM
9. 2026-06-09
   days on market $427,900 Active 576 DOM
10. 2026-06-08
    days on market $427,900 Active 575 DOM
11. 2026-06-07
    days on market $427,900 Active 574 DOM
12. 2026-06-07
    days on market $427,900 Active 573 DOM
13. 2026-06-04
    days on market $427,900 Active 570 DOM
14. 2026-06-02
    days on market $427,900 Active 569 DOM
15. 2026-06-01
    days on market $427,900 Active 568 DOM
16. 2026-05-31
    days on market $427,900 Active 567 DOM
17. 2026-04-14
    price $427,900 987-char remark

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

18. 2025-10-27
    status Active 987-char remark

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

19. 2025-10-24
    historical 987-char remark

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

20. 2025-06-18
    status Active 987-char remark

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

21. 2025-06-18
    historical 987-char remark

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

22. 2025-04-26
    historical
23. 2023-10-26
    listed $459,900 Active 987-char remark

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

24. 2023-10-26
    listed $459,900

    Show marketing remark (987 chars)

    Location, trees and welcoming space are just the beginning of the things to love about this home built circa 1834. A detailed history of the house, from land grants to modern times, was assembled by renowned Natchez historian Mary Postlewaite. To build this house, cypress trees were harvested locally, sent north where the house was constructed in components, then shipped down river and assembled on site. The corner lot is shaded with a beautiful live oak and a southern magnolia, and features off street parking. The yard is enclosed with intricate wrought iron fences. Inside is a spacious foyer, parlor, dining room and den that all open onto perfect place for entertaining. The den is off the kitchen where meals were prepared for a big family and large parties. The second floor can be reached by winding stairs or an elevator and features 4 bedrooms 2 baths and a landing. The third floor attic has rough hewn wood floors and exposed cypress beams. The roof was replaced in 2021

ⓘ 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: $4,921 · $410/mo
• Projected year-2 tax: $4,921 · $410/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 92% 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: $42,000
• − Mortgage interest: −$23,969
• − Property taxes: −$4,921
• − Insurance: −$2,140
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$12,448
• Taxable loss: −$8,198
• Est. tax savings @ 24.0%: +$1,968
• After-tax cash flow: $1,159/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: Natchez-Adams School District
• NCES district ID: 2803030
• Math proficiency: 8% ▼ -16.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $28,288
• Composite: 10.41/100
• National rank: #9785
• State rank: #114 of 130 in MS

Livability — Natchez

• Score: 63/100
• State rank: #156
• US rank: #15334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Natchez, MS
• Population (ZIP): 29,212

Population outlook (Adams County) Hauer SSP2

• Today (2025): 28,614 people
• By 2030: 27,405 · -4.2%
• By 2040: 24,914 · -12.9%
• By 2050: 22,554 · -21.2%
• By 2075: 17,096 · -40.3%
• By 2100: 12,156 · -57.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 56% White 37% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Adams

• 2024 margin: D (+13.9) · D 56.5% · R 42.6%
• 2008→2024 swing: -1.7pp toward R · 2008: 15.6pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+16.1 2016: D+14.7 2012: D+18.0 2008: D+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.67%
• Current HPI: 112.2371
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-7.0% since first listed

8 events — show timeline

• 2026-04-14 Price Changed $427,900 MLSU
• 2025-10-27 Relisted — MLSU
• 2025-10-24 Listing Removed — MLSU
• 2025-06-18 Relisted — MLSU
• 2025-06-18 Listing Removed — MLSU
• 2025-04-26 Listing Removed — MLSU
• 2023-10-26 Listed $459,900 MLSU
• 2023-10-26 Listed $459,900 MLSU

Property tax history

+18.7%/yr

Latest (2025): $4,921 · +22.9% YoY. Source: county tax records.