117 Shenandoah Rd · Flowood, MS 39047

$165,000

3 bd · 1.0 ba · 1,426 sqft · SingleFamily public records · 12 Days on market

Built 1983 0.37 ac lot Est $234k · 29% under

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You don't want to miss this beautiful 3 Bedroom, 2 Bathroom home on a large corner lot in Bellegrove subdivision! Fresh Paint, New Roof, and New A/C Unit!! The foyer with coat closet leads into the main living and dining area. This home features wood-look flooring throughout the living space with a brick fireplace, gorgeous mantle, and is open to the spacious dining area. The kitchen includes a pantry and space for a breakfast area. The hallway leads to the master suite and bathroom, two other spacious bedrooms, and the guest bathroom! There is an additional linen/storage closet at the end of the hallway. The huge backyard features a concrete patio, full privacy fence, storage room, and an additional outdoor storage shed. Conveniently located in Bellegrove subdivision! Schedule an appointment for your private viewing today!!

Key facts

• Fresh paint
• New carpet
• Renovated bathrooms

Tags

• NEW CARPET
• FRESH PAINT
• RENOVATED BATHROOMS
• COZY FIREPLACE
• HUGE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 10.5% 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.
• Zoned schools: Highland Bluff Elementary (math 52% / reading 50%, grade C-, #58 of 375 statewide, top 15%, 577 students, 100% FRL); Northwest Rankin Middle School (math 63% / reading 51%, grade B, #13 of 179 statewide, top 7%, 1,374 students, 100% FRL); Northwest Rankin High School (math 48% / reading 42%, grade D-, #34 of 197 statewide, top 17%, 1,898 students, 100% FRL) — zoned schools average 100% FRL vs 35% district-wide (65 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.9%/yr); 433 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $165,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.27% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.91%
• DSCR: 1.66
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $233,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Shenandoah Rd	0.00mi	3/2.0	1,426 (0%)	1mo	$165,000	$116	95
169 Bellegrove Cir	0.53mi	3/2.0	1,394 (-2%)	2mo	$220,000	$158	66
1 Brandy Village Cv	0.37mi	3/2.0	1,331 (-7%)	2mo	$218,000	$164	66
408 Pinebrook Cir	0.58mi	3/2.0	1,402 (-2%)	3mo	$239,900	$171	64
102 Cumberland Rd	0.48mi	3/2.0	1,335 (-6%)	0mo	$145,000	$109	63
123 Cumberland Rd	0.50mi	3/2.0	1,346 (-6%)	1mo	$219,900	$163	63
117 Cumberland Rd	0.51mi	3/2.0	1,339 (-6%)	3mo	$219,900	$164	60
203 Lotus Dr	0.73mi	3/2.0	1,408 (-1%)	1mo	$269,900	$192	59
191 Bellegrove Cir	0.33mi	3/2.0	1,242 (-13%)	3mo	$193,500	$156	57
100 Vine Ln	0.70mi	2/2.0 (-1)	1,381 (-3%)	0mo	$209,900	$152	53
148 W Pinebrook Dr	0.65mi	3/2.0	1,604 (+12%)	0mo	$289,900	$181	44
504 Pinebark Cv	0.67mi	3/2.0	1,585 (+11%)	5mo	$286,000	$180	42

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $5,419
• Equity at exit: $24,602

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $45,627
• Equity at exit: $14,266

Cash invested: $46,200 (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 39047

• Home prices YoY: -32.6%
• Rents YoY: 2.9%
• Active inventory: 433
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$865
• Tax from tax record: −$143 /mo · $1,716/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $508

Break-even live

Break-even rent $1,447

Max offer price $165,000

Occupancy floor 71%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Shenandoah Rd N Brandon, MS	3.0	2.0	1625	$2,006	$1.23	43d	1	0.17mi
199 Dogwood Cir Brandon, MS	3.0	2.0	1550	$1,900	$1.23	44d	1	0.22mi
183 Cumberland Rd Brandon, MS	3.0	2.0	1097	$1,750	$1.60	21d	1	0.32mi
413 Shenandoah Rd N Brandon, MS	4.0	2.0	1715	$2,056	$1.20	13d	1	0.39mi
154 Plum Tree Rd Brandon, MS	3.0	2.0	1289	$1,931	$1.50	23d	1	0.46mi
133 Cumberland Rd Brandon, MS	4.0	3.0	1846	$2,225	$1.21	23d	1	0.47mi
352 Brendalwood Cv Brandon, MS	2.0	1.5	1248	$1,157	$0.93	43d	1	1.01mi
500 Avalon Way Brandon, MS	2.0–3.0	2.0	1287	$2,052	$1.59	13d	6	1.05mi
520 Vine Dr Flowood, MS	2.0–3.0	2.0	1114	$1,745	$1.57	13d	8	1.30mi

Listing history 4 events

1. 2026-03-27
   status Pending
2. 2026-03-15
   listed $165,000 Active
3. 2019-06-20
   soldstatus 836-char remark

   Show marketing remark (836 chars)

   You don't want to miss this beautiful 3 Bedroom, 2 Bathroom home on a large corner lot in Bellegrove subdivision! Fresh Paint, New Roof, and New A/C Unit!! The foyer with coat closet leads into the main living and dining area. This home features wood-look flooring throughout the living space with a brick fireplace, gorgeous mantle, and is open to the spacious dining area. The kitchen includes a pantry and space for a breakfast area. The hallway leads to the master suite and bathroom, two other spacious bedrooms, and the guest bathroom! There is an additional linen/storage closet at the end of the hallway. The huge backyard features a concrete patio, full privacy fence, storage room, and an additional outdoor storage shed. Conveniently located in Bellegrove subdivision! Schedule an appointment for your private viewing today!!

4. 2019-03-28
   listed $119,900 836-char remark

   Show marketing remark (836 chars)

   You don't want to miss this beautiful 3 Bedroom, 2 Bathroom home on a large corner lot in Bellegrove subdivision! Fresh Paint, New Roof, and New A/C Unit!! The foyer with coat closet leads into the main living and dining area. This home features wood-look flooring throughout the living space with a brick fireplace, gorgeous mantle, and is open to the spacious dining area. The kitchen includes a pantry and space for a breakfast area. The hallway leads to the master suite and bathroom, two other spacious bedrooms, and the guest bathroom! There is an additional linen/storage closet at the end of the hallway. The huge backyard features a concrete patio, full privacy fence, storage room, and an additional outdoor storage shed. Conveniently located in Bellegrove subdivision! Schedule an appointment for your private viewing today!!

ⓘ 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: $1,716 · $143/mo
• Projected year-2 tax: $1,716 · $143/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°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: $25,080
• − Mortgage interest: −$9,243
• − Property taxes: −$1,716
• − Insurance: −$1,622
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$4,800
• Taxable income: $3,687
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $5,207/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

+37.6% since first listed

4 events — show timeline

• 2026-03-27 Pending — MLSU
• 2026-03-15 Listed $165,000 MLSU
• 2019-06-20 Sold (MLS) — MLSU
• 2019-03-28 Listed $119,900 MLSU

Property tax history

+12.4%/yr

Latest (2025): $1,716 · +5.4% YoY. Source: county tax records.