181 Joe Wheeler Brown Rd · Fulton, MS 38843

$54,900

2 bd · 1.0 ba · 1,125 sqft · Other public records · 3 Days on market

Built 1951 1.00 ac lot ↓ 15% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

''Wow'' Adorable Home near College and Waterway. We do not warrant square footage, or acreage. All information is believed correct, but subject to verification.

Key facts

• 1 acre lot
• Built 1951
• Listed 2 days

Property features AI

Finance

• Other: Property listed by Property Specialists Realty LLC

Exterior

• Home design: Single family residence; Residential property
• Exterior features: Approximately 1.6-acre lot; Lot dimensions about 150 x 464; Located about 1/4 mile before Midway Marina on Joe Wheeler Brown Rd

Interior

• Bedrooms: Contains bedrooms (number not specified)
• Bathrooms: 1 full bathroom
• Interior features: 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($922 rent vs $55k).

Location & tenants

• Location reads 64/100 on livability (#133 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, employment D, amenities F.
• Itawamba County School District (rural): math 35% / reading 31% proficiency, ranked #58 of 130 in MS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 114 active listings in the ZIP; 4 units permitted in Itawamba County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Itawamba County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,900

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.68% ✓
• Cap rate: 14.46%
• Cash-on-cash: 29.15%
• DSCR: 2.30
• GRM: 5.0

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: 23.6%
• Equity multiple: 1.97×
• Total profit: $14,888
• Equity at exit: $8,186

10-year hold

• IRR: 31.5%
• Equity multiple: 3.84×
• Total profit: $43,589
• Equity at exit: $4,747

Cash invested: $15,372 (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 38843

• Home prices YoY: -31.9%
• Active inventory: 114
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $922 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $373

Break-even live

Break-even rent $450

Max offer price $54,900

Occupancy floor 55%

Sensitivity live

Price	-10% $405	-5% $389	+0% $373	+5% $358	+10% $342
Rent	-10% $301	-5% $337	+0% $373	+5% $410	+10% $446
Rate	-1.0pp $401	-0.5pp $387	base $373	+0.5pp $359	+1.0pp $345

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $54,900 Active 3 DOM
2. 2026-06-18
   days on market $54,900 Active 2 DOM
3. 2026-06-17
   remarks 402-char remark
4. 2026-06-17
   listed $54,900 Active 1 DOM

ⓘ 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: $534 · $44/mo
• Projected year-2 tax: $534 · $44/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,069
• − Mortgage interest: −$3,075
• − Property taxes: −$534
• − Insurance: −$274
• − Repairs & maintenance: −$886
• − Management: −$886
• − Depreciation: −$1,597
• Taxable income: $3,817
• Est. tax owed @ 24.0%: −$916
• After-tax cash flow: $3,565/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: Itawamba County School District
• NCES district ID: 2802100
• Math proficiency: 35% ▼ -19.00%
• Reading proficiency: 31% ▼ -14.00%
• Median HH income: $37,158
• Composite: 27.48/100
• National rank: #6956
• State rank: #58 of 130 in MS

Livability — Fulton

• Score: 64/100
• State rank: #133
• US rank: #14332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,275

Population outlook (Itawamba County) Hauer SSP2

• Today (2025): 24,011 people
• By 2030: 23,999 · +-0.0%
• By 2040: 23,738 · -1.1%
• By 2050: 22,962 · -4.4%
• By 2075: 20,240 · -15.7%
• By 2100: 16,503 · -31.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 13% Two or more races 2%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Itawamba

• 2024 margin: Solid R (+80.0) · D 9.7% · R 89.7%
• 2008→2024 swing: -23.9pp toward R · 2008: -56.1pp · 2024: -80.0pp
• All cycles: 2024: R+80.0 2020: R+75.6 2016: R+75.6 2012: R+61.0 2008: R+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.26%
• Current HPI: 124.4402
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.4% since first listed

3 events — show timeline

• 2026-06-16 Listed $54,900 NEMSBD
• 2015-01-23 Sold (MLS) — NEMSBD
• 2014-06-25 Listed $64,900 NEMSBD

Property tax history

-3.8%/yr

Latest (2023): $534 · +6.2% YoY. Source: county tax records.