1516 Proper St · Corinth, MS 38834

$65,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 49 Days on market

9,147 sqft lot $54/sqft · 32% below area Est $95k · 32% under ↓ 18% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 1-bath home with 1,200 sq ft offering great potential for buyers and investors. This property features a functional layout ready for updates and personalization. Perfect for those looking to add value or renovate to fit their vision. Located in a quiet neighborhood with convenient access to local amenities. A fantastic opportunity to create your ideal home or investment. Property sold AS-IS.

Key facts

• 9,147 sq ft lot
• Parking
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 3.7% in Corinth — 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 61/100 on livability (#187 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D-, amenities F.
• Corinth School District (town): math 35% / reading 36% proficiency, ranked #56 of 130 in MS (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 13 units permitted in Alcorn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Alcorn County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% 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.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.45% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.54%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (median comp): $94,892
• List price: $65,000
• Delta: -31.50%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1008 Douglas	0.60mi	3/1.5	1,362 (+14%)	22mo	$143,045	$105	29

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: 11.6%
• Equity multiple: 1.46×
• Total profit: $8,353
• Equity at exit: $9,692

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $31,632
• Equity at exit: $5,620

Cash invested: $18,200 (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 38834

• Active inventory: 186
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $944 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $296

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 64%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Proper St Corinth, MS	3.0	1.5	1400	$900	$0.64	43d	1	0.18mi
1907 N Madison St Corinth, MS	2.0	1.0	1200	$1,200	$1.00	43d	1	1.23mi

Listing history 10 events

1. 2026-06-04
   days on market $65,000 Active 49 DOM
2. 2026-06-02
   days on market $65,000 Active 48 DOM
3. 2026-06-01
   days on market $65,000 Active 47 DOM
4. 2026-05-31
   days on market $65,000 Active 46 DOM
5. 2026-05-31
   price $65,000 Active 45 DOM
6. 2026-05-13
   price $70,000 405-char remark

   Show marketing remark (405 chars)

   3-bedroom, 1-bath home with 1,200 sq ft offering great potential for buyers and investors. This property features a functional layout ready for updates and personalization. Perfect for those looking to add value or renovate to fit their vision. Located in a quiet neighborhood with convenient access to local amenities. A fantastic opportunity to create your ideal home or investment. Property sold AS-IS.

7. 2026-05-07
   price $76,000 405-char remark

   Show marketing remark (405 chars)

   3-bedroom, 1-bath home with 1,200 sq ft offering great potential for buyers and investors. This property features a functional layout ready for updates and personalization. Perfect for those looking to add value or renovate to fit their vision. Located in a quiet neighborhood with convenient access to local amenities. A fantastic opportunity to create your ideal home or investment. Property sold AS-IS.

8. 2026-04-29
   price $79,000 405-char remark

   Show marketing remark (405 chars)

   3-bedroom, 1-bath home with 1,200 sq ft offering great potential for buyers and investors. This property features a functional layout ready for updates and personalization. Perfect for those looking to add value or renovate to fit their vision. Located in a quiet neighborhood with convenient access to local amenities. A fantastic opportunity to create your ideal home or investment. Property sold AS-IS.

9. 2026-04-23
   price $82,000 405-char remark

   Show marketing remark (405 chars)

   3-bedroom, 1-bath home with 1,200 sq ft offering great potential for buyers and investors. This property features a functional layout ready for updates and personalization. Perfect for those looking to add value or renovate to fit their vision. Located in a quiet neighborhood with convenient access to local amenities. A fantastic opportunity to create your ideal home or investment. Property sold AS-IS.

10. 2026-04-15
    listed $85,000 Active 405-char remark

    Show marketing remark (405 chars)

    3-bedroom, 1-bath home with 1,200 sq ft offering great potential for buyers and investors. This property features a functional layout ready for updates and personalization. Perfect for those looking to add value or renovate to fit their vision. Located in a quiet neighborhood with convenient access to local amenities. A fantastic opportunity to create your ideal home or investment. Property sold AS-IS.

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $11,324
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$906
• − Management: −$906
• − Depreciation: −$1,891
• Taxable income: $2,680
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $2,912/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: Corinth School District
• NCES district ID: 2801260
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $31,709
• Composite: 29.02/100
• National rank: #6611
• State rank: #56 of 130 in MS

Livability — Corinth

• Score: 61/100
• State rank: #187
• US rank: #17369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corinth, MS
• City population: 27,146
• Population (ZIP): 27,146

Population outlook (Alcorn County) Hauer SSP2

• Today (2025): 38,392 people
• By 2030: 38,804 · +1.1%
• By 2040: 39,455 · +2.8%
• By 2050: 39,708 · +3.4%
• By 2075: 39,917 · +4.0%
• By 2100: 37,628 · -2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Alcorn

• 2024 margin: Solid R (+68.3) · D 15.4% · R 83.8%
• 2008→2024 swing: -24.4pp toward R · 2008: -44.0pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+63.5 2016: R+61.8 2012: R+51.6 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.19%
• Current HPI: 155.736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-17.6% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $70,000 MLSU
• 2026-05-07 Price Changed $76,000 MLSU
• 2026-04-29 Price Changed $79,000 MLSU
• 2026-04-23 Price Changed $82,000 MLSU
• 2026-04-15 Listed $85,000 MLSU

Property tax history

+1.1%/yr

Latest (2025): $29 · +0.0% YoY. Source: county tax records.