208 Azalea Ct · Flowood, MS 39047

$279,900

3 bd · 2.0 ba · 2,104 sqft · SingleFamily public records · 42 Days on market

Built 1993 10,018 sqft lot $133/sqft · 14% below area Est $296k · 6% under

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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 +17.5/30.0
• ARV discount +10.0/15.0
• DSCR +5.4/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy living in the desirable Azalea Trails of Castlewoods! This beautiful home featuring 3 beds, 2 baths + Bonus is in a location that's hard to beat, directly across from the neighborhood park. From the moment you arrive, you'll love the inviting curb appeal featuring a charming front porch perfect for a porch swing and a convenient circle drive for extra parking. Step inside to a welcoming foyer that opens into a spacious living area complete with a cozy brick fireplace, built-in display shelving, and large windows that fill the space with natural light. The layout flows seamlessly into a formal dining room and kitchen featuring brick flooring, a breakfast area, bar seating, and abundant storage, perfect for both everyday living and entertaining. Just off the kitchen, you'll find a walk-in laundry room leading to a versatile multi-purpose space ideal for a home office, hobby room, or extra storage. The split floor plan provides privacy, with a spacious primary suite tucked away featuring a tray ceiling, direct access to the back patio, double vanities, a walk-in shower, separate soaking tub, and a generous walk-in closet. You'll also love the additional bonus room (not included in the square footage), offering even more flexibility, along with floored attic access, a storage closet, and built-in shelving. Step outside to enjoy the covered back porch with a swing, extended patio space, and a fully fenced backyard, perfect for relaxing or entertaining. The home also includes a 2-car garage with extensive cabinet storage and an additional storage room. As part of the Castlewoods community, you'll have access to membership with incredible amenities including a golf course, clubhouse, pool, tennis courts, and park, all just moments from your front door. Schedule an appointment for your private viewing today!

Key facts

• Charming front porch
• Circle drive
• Cozy brick fireplace

Tags

• CHARMING FRONT PORCH
• CIRCLE DRIVE
• COZY BRICK FIREPLACE
• BUILT-IN DISPLAY SHELVING
• BRICK FLOORING
• BREAKFAST AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/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 $237k (15.3% below list).
• Recommended offer: $237k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.3% in Flowood — 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 77/100 on livability (#10 in MS, #3,075 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Rankin County School District (rural): math 56% / reading 48% proficiency, ranked #6 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 433 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $280k implies a 1233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $237,084 (15.3% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 15% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 9.8

CMA / ARV

• ARV (median comp): $296,369
• List price: $279,900
• Delta: -5.56%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Fairway Cv	0.27mi	3/2.0	2,359 (+12%)	0mo	$455,000	$193	67
102 Parkview Ln	0.40mi	3/2.5	1,984 (-6%)	7mo	$269,900	$136	64
408 Castlewoods Blvd	0.57mi	3/2.0	2,031 (-4%)	6mo	$292,000	$144	63
543 Branbury Ct	0.45mi	4/2.0 (+1)	2,236 (+6%)	7mo	$325,000	$145	58
271 Azalea Ct	0.34mi	3/2.5	1,799 (-14%)	2mo	$289,000	$161	57
320 Woodhollow Cv	0.37mi	4/2.0 (+1)	2,317 (+10%)	7mo	$306,990	$132	55
131 Woodlands Green Dr	0.58mi	4/2.0 (+1)	2,239 (+6%)	4mo	$374,900	$167	54
213 Boxwood Cir	0.41mi	3/2.0	1,799 (-14%)	7mo	$269,000	$150	51
231 Greensview Dr	0.71mi	3/2.0	1,971 (-6%)	7mo	$318,500	$162	51
507 E Cowan Creek Cv	0.68mi	4/3.0 (+1)	2,219 (+6%)	0mo	$389,900	$176	50
212 Edinburgh Ct	0.65mi	4/3.0 (+1)	2,285 (+9%)	7mo	$305,000	$133	40
404 Ashford Pl	0.72mi	3/2.5	2,413 (+15%)	2mo	$374,900	$155	38

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-32,174
• Equity at exit: $41,734

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-12,080
• Equity at exit: $24,201

Cash invested: $78,372 (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 39047

• Home prices YoY: -32.6%
• Rents YoY: 2.9%
• Active inventory: 433
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,371 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$76 /mo · $909/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $213

Break-even live

Break-even rent $2,101

Max offer price $279,900

Occupancy floor 86%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Cypress Ridge Dr Brandon, MS	3.0	2.0	1911	$2,206	$1.15	44d	1	0.59mi
917 Willow Grande Cir Brandon, MS	4.0	2.0	1823	$2,400	$1.32	14d	1	1.20mi

Listing history 6 events

1. 2026-06-01
   statusdays on market $279,900 Pending 42 DOM
2. 2026-05-31
   days on market $279,900 Active 41 DOM
3. 2026-05-30
   days on market $279,900 Active 40 DOM
4. 2026-04-27
   price $289,900 1853-char remark

   Show marketing remark (1853 chars)

   Welcome to easy living in the desirable Azalea Trails of Castlewoods! This beautiful home featuring 3 beds, 2 baths + Bonus is in a location that's hard to beat, directly across from the neighborhood park. From the moment you arrive, you'll love the inviting curb appeal featuring a charming front porch perfect for a porch swing and a convenient circle drive for extra parking. Step inside to a welcoming foyer that opens into a spacious living area complete with a cozy brick fireplace, built-in display shelving, and large windows that fill the space with natural light. The layout flows seamlessly into a formal dining room and kitchen featuring brick flooring, a breakfast area, bar seating, and abundant storage, perfect for both everyday living and entertaining. Just off the kitchen, you'll find a walk-in laundry room leading to a versatile multi-purpose space ideal for a home office, hobby room, or extra storage. The split floor plan provides privacy, with a spacious primary suite tucked away featuring a tray ceiling, direct access to the back patio, double vanities, a walk-in shower, separate soaking tub, and a generous walk-in closet. You'll also love the additional bonus room (not included in the square footage), offering even more flexibility, along with floored attic access, a storage closet, and built-in shelving. Step outside to enjoy the covered back porch with a swing, extended patio space, and a fully fenced backyard, perfect for relaxing or entertaining. The home also includes a 2-car garage with extensive cabinet storage and an additional storage room. As part of the Castlewoods community, you'll have access to membership with incredible amenities including a golf course, clubhouse, pool, tennis courts, and park, all just moments from your front door. Schedule an appointment for your private viewing today!

5. 2026-04-20
   listed $299,900 Active 1853-char remark

   Show marketing remark (1853 chars)

   Welcome to easy living in the desirable Azalea Trails of Castlewoods! This beautiful home featuring 3 beds, 2 baths + Bonus is in a location that's hard to beat, directly across from the neighborhood park. From the moment you arrive, you'll love the inviting curb appeal featuring a charming front porch perfect for a porch swing and a convenient circle drive for extra parking. Step inside to a welcoming foyer that opens into a spacious living area complete with a cozy brick fireplace, built-in display shelving, and large windows that fill the space with natural light. The layout flows seamlessly into a formal dining room and kitchen featuring brick flooring, a breakfast area, bar seating, and abundant storage, perfect for both everyday living and entertaining. Just off the kitchen, you'll find a walk-in laundry room leading to a versatile multi-purpose space ideal for a home office, hobby room, or extra storage. The split floor plan provides privacy, with a spacious primary suite tucked away featuring a tray ceiling, direct access to the back patio, double vanities, a walk-in shower, separate soaking tub, and a generous walk-in closet. You'll also love the additional bonus room (not included in the square footage), offering even more flexibility, along with floored attic access, a storage closet, and built-in shelving. Step outside to enjoy the covered back porch with a swing, extended patio space, and a fully fenced backyard, perfect for relaxing or entertaining. The home also includes a 2-car garage with extensive cabinet storage and an additional storage room. As part of the Castlewoods community, you'll have access to membership with incredible amenities including a golf course, clubhouse, pool, tennis courts, and park, all just moments from your front door. Schedule an appointment for your private viewing today!

6. 2005-09-19
   soldstatus $21,000

ⓘ 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: $909 · $76/mo
• Projected year-2 tax: $2,211 · $184/mo
• Expected delta: +$1,303/yr (+$109/mo · 143.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,450
• − Mortgage interest: −$15,679
• − Property taxes: −$909
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,276
• − Management: −$2,276
• − Depreciation: −$8,143
• Taxable loss: −$2,231
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $3,089/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: Rankin County School District
• NCES district ID: 2803830
• Math proficiency: 56% ▼ -4.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $61,867
• Composite: 45.62/100
• National rank: #2587
• State rank: #6 of 130 in MS

Livability — Flowood

• Score: 77/100
• State rank: #10
• US rank: #3075

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rankin County · 123,614 people
• City population: 9,222
• Metro: Jackson, MS
• Population (ZIP): 40,808
• Household income: $100,347
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 551.0

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 16% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Italian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.01%
• Current HPI: 162.9709
• Rent YoY: ▲ 2.90%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+1280.5% since first listed

3 events — show timeline

• 2026-04-27 Price Changed $289,900 MLSU
• 2026-04-20 Listed $299,900 MLSU
• 2005-09-19 Sold (Public Records) $21,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $909 · +5.4% YoY. Source: county tax records.