1115 First North St · Vicksburg, MS 39183

$225,000

None bd · None ba · 3,018 sqft · MultiFamily public records · 1120 Days on market

Built 1900 8,712 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Three apartments with 1 bedroom, 1 apartment with 2 bedrooms. Roof is two years old. Home is current ly being rented. please call for appt to show, 638 -4505 U/C By Jennifer Willis, BrokerSouth GMAC

Key facts

• 8,712 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Multi-family residential; Two stories
• Construction: Wood siding; Composition roof
• Exterior features: Front porch; Partial fencing

Interior

• Flooring: Ceramic tile; Hardwood; Vinyl
• Heating & cooling: Central heating (natural gas); Central air; Window air units
• Interior features: Gas water heater; Single fireplace
• Laundry & utility: Electric dryer hookup inside

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 4.5% in Vicksburg — 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 (#166 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Vicksburg Warren School District (rural): math 22% / reading 26% proficiency, ranked #82 of 130 in MS (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sherman Ave Elementary (368 students, 100% FRL); Warren Central Junior High School (math 20% / reading 23%, grade F, #109 of 179 statewide, top 62%, 598 students, 100% FRL); Warren Central High School (math 4% / reading 28%, grade F, #145 of 197 statewide, top 74%, 1,159 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: 65 active listings in the ZIP; 12 units permitted in Warren 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 $7k of value loss. Plan a longer hold.
• Warren County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 1120 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 1120 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.20% ✓
• Cap rate: 28.62%
• Cash-on-cash: 79.74%
• DSCR: 4.55
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 79.9%
• Equity multiple: 4.65×
• Total profit: $230,235
• Equity at exit: $33,548

10-year hold

• IRR: 83.3%
• Equity multiple: 9.64×
• Total profit: $544,108
• Equity at exit: $19,454

Cash invested: $63,000 (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 39183

• Home prices YoY: -32.3%
• Active inventory: 65
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $7,200 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$228 /mo · $2,738/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,512
• Net cashflow: $4,186

Break-even live

Break-even rent $1,901

Max offer price $225,000

Occupancy floor 37%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$7,200
Total (4 units)			$7,200

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $225,000 Active 1120 DOM
2. 2026-06-18
   days on market $225,000 Active 1119 DOM
3. 2026-06-17
   days on market $225,000 Active 1118 DOM
4. 2026-06-16
   days on market $225,000 Active 1117 DOM
5. 2026-06-15
   days on market $225,000 Active 1116 DOM
6. 2026-06-14
   days on market $225,000 Active 1114 DOM
7. 2026-06-12
   days on market $225,000 Active 1113 DOM
8. 2026-06-09
   days on market $225,000 Active 1110 DOM
9. 2026-06-08
   days on market $225,000 Active 1109 DOM
10. 2026-06-07
    days on market $225,000 Active 1108 DOM
11. 2026-06-05
    days on market $225,000 Active 1105 DOM
12. 2026-06-02
    days on market $225,000 Active 1103 DOM
13. 2026-06-01
    days on market $225,000 Active 1102 DOM
14. 2026-05-31
    days on market $225,000 Active 1101 DOM
15. 2026-05-30
    days on market $225,000 Active 1100 DOM
16. 2024-08-08
    status Active
17. 2021-11-09
    listed $225,000 Active
18. 2004-09-21
    listed $98,000 198-char remark

    Show marketing remark (198 chars)

    Three apartments with 1 bedroom, 1 apartment with 2 bedrooms. Roof is two years old. Home is current ly being rented. please call for appt to show, 638 -4505 U/C By Jennifer Willis, BrokerSouth GMAC

19. 2004-09-17
    soldstatus 198-char remark

    Show marketing remark (198 chars)

    Three apartments with 1 bedroom, 1 apartment with 2 bedrooms. Roof is two years old. Home is current ly being rented. please call for appt to show, 638 -4505 U/C By Jennifer Willis, BrokerSouth GMAC

20. 2004-09-14
    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: $2,738 · $228/mo
• Projected year-2 tax: $2,738 · $228/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $86,400
• − Mortgage interest: −$12,603
• − Property taxes: −$2,738
• − Insurance: −$1,125
• − Repairs & maintenance: −$6,912
• − Management: −$6,912
• − Depreciation: −$6,545
• Taxable income: $49,564
• Est. tax owed @ 24.0%: −$11,895
• After-tax cash flow: $38,339/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: Vicksburg Warren School District
• NCES district ID: 2804470
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $40,492
• Composite: 20.31/100
• National rank: #8612
• State rank: #82 of 130 in MS

Livability — Vicksburg

• Score: 63/100
• State rank: #166
• US rank: #16032

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vicksburg, MS
• City population: 28,479
• Population (ZIP): 13,419

Population outlook (Warren County) Hauer SSP2

• Today (2025): 45,473 people
• By 2030: 44,051 · -3.1%
• By 2040: 40,884 · -10.1%
• By 2050: 37,596 · -17.3%
• By 2075: 30,162 · -33.7%
• By 2100: 23,585 · -48.1%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: White 49% Black 47% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.5% · R 51.4% · Other 1.1%
• 2008→2024 swing: -0.9pp no change · 2008: -3.0pp · 2024: -4.0pp
• All cycles: 2024: R+4.0 2020: D+0.4 2016: R+4.9 2012: D+2.6 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.46%
• Current HPI: 145.8279
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+129.6% since first listed

5 events — show timeline

• 2024-08-08 Relisted — VWCBR
• 2021-11-09 Listed $225,000 VWCBR
• 2004-09-21 Listed $98,000 VWCBR
• 2004-09-17 Sold (MLS) — VWCBR
• 2004-09-14 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,738 · +1.4% YoY. Source: county tax records.