348 S Extension St

Hazlehurst, MS 39083

$78,500B

4 bd · 1.0 ba · 2,899 sqft · Built 1950 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,191/mo
• Mortgage (P&I): −$412
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $355/mo
• Annual: $4,266/yr
• Cap rate: 11.73%
• Cash-on-cash: 19.41%
• DSCR: 1.86
• 1% rule: 1.52%
• Cash to close: $21,980

Investor read

• This is a 4-bed/1.0-bath single-family listed at $78k.
• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• It's been on market 40 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($543 loan paydown + $4k appreciation (5.1% local appreciation)).
• Location reads 60/100 on livability (#221 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Hazlehurst City School District (town): math 7% / reading 13% proficiency, ranked #115 of 130 in MS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hazlehurst Middle School (math 8% / reading 12%, grade F, #152 of 179 statewide, top 88%, 332 students, 100% FRL); Hazlehurst High School (math 2% / reading 12%, grade F, #186 of 197 statewide, top 96%, 401 students, 100% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 8 units permitted in Copiah County in 2024 (0 in 5+ unit buildings).
• Copiah County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.