28 Bud Stevens Rd · Clara, MS 39367

$21,500

3 bd · 2.0 ba · 2,507 sqft · SingleFamily public records · 289 Days on market

Built 1963 1.30 ac lot $9/sqft · 89% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

Key facts

• Spacious front yard
• Laundry room
• Front porch

Tags

• LIVING ROOM WITH FIREPLACE
• KITCHEN WITH DINING AREA
• LAUNDRY ROOM
• FRONT PORCH
• SPACIOUS FRONT YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $793 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#324 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: health & safety D, schools F, amenities F.
• Wayne County School District (town): math 24% / reading 29% proficiency, ranked #79 of 130 in MS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 7 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $149 of loan paydown is wiped out by about $645 of value loss. Plan a longer hold.
• Wayne County population projected at -18% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $68k (76%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 98% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.54% ✓
• Cap rate: 50.55%
• Cash-on-cash: 158.06%
• DSCR: 8.03
• GRM: 1.5

CMA / ARV

• ARV (median comp): $204,116
• List price: $21,500
• Delta: -89.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.81×
• Total profit: $47,035
• Equity at exit: $3,206

10-year hold

• IRR: —
• Equity multiple: 18.62×
• Total profit: $106,059
• Equity at exit: $1,859

Cash invested: $6,020 (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 39367

• Home prices YoY: -30.7%
• Active inventory: 45
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,192 medium
• Mortgage (P&I): −$113
• Tax est. 1.5%: −$27 /mo · $322/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $793

Break-even live

Break-even rent $188

Max offer price $21,500

Occupancy floor 28%

Sensitivity live

Price	-10% $808	-5% $800	+0% $793	+5% $785	+10% $778
Rent	-10% $699	-5% $746	+0% $793	+5% $840	+10% $887
Rate	-1.0pp $804	-0.5pp $798	base $793	+0.5pp $787	+1.0pp $782

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: $5,375
• Closing costs: $645
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $21,500 Active 289 DOM
2. 2026-06-18
   days on market $21,500 Active 287 DOM
3. 2026-06-17
   days on market $21,500 Active 286 DOM
4. 2026-06-16
   days on market $21,500 Active 285 DOM
5. 2026-06-15
   days on market $21,500 Active 284 DOM
6. 2026-06-13
   days on market $21,500 Active 282 DOM
7. 2026-06-12
   pricedays on market $21,500 Active 281 DOM
8. 2026-06-09
   days on market $26,500 Active 278 DOM
9. 2026-06-08
   days on market $26,500 Active 277 DOM
10. 2026-06-07
    days on market $26,500 Active 276 DOM
11. 2026-06-07
    days on market $26,500 Active 275 DOM
12. 2026-06-04
    days on market $26,500 Active 272 DOM
13. 2026-06-02
    days on market $26,500 Active 271 DOM
14. 2026-06-01
    days on market $26,500 Active 270 DOM
15. 2026-05-31
    days on market $26,500 Active 269 DOM
16. 2026-05-08
    price $26,500 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

17. 2026-04-08
    price $30,000 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

18. 2026-03-27
    status Active 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

19. 2026-03-12
    status Pending 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

20. 2026-02-05
    price $34,900 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

21. 2026-01-05
    price $44,900 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

22. 2025-11-25
    price $54,900 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

23. 2025-10-24
    price $64,900 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

24. 2025-09-23
    price $74,900 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

25. 2025-08-20
    listed $89,900 Active 335-char remark

    Show marketing remark (335 chars)

    This 3-bedroom, 2-bath home on Bud Stevens Rd in Waynesboro features a living room with a fireplace, a kitchen with a dining area, and a laundry room. Enjoy the front porch or the spacious front yard, ideal for family gatherings and outdoor activities. This home provides comfortable living and plenty of space for you and your family.

26. 1994-09-14
    soldstatus
27. 1988-05-02
    soldstatus
28. 1987-10-27
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $14,301
• − Mortgage interest: −$1,204
• − Property taxes: −$322
• − Insurance: −$108
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$625
• Taxable income: $9,753
• Est. tax owed @ 24.0%: −$2,341
• After-tax cash flow: $7,174/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: Wayne County School District
• NCES district ID: 2804530
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $32,885
• Composite: 21.65/100
• National rank: #8283
• State rank: #79 of 130 in MS

Livability — Clara

• Score: 54/100
• State rank: #324
• US rank: #24078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clara, MS
• Population (ZIP): 13,401

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 19,737 people
• By 2030: 19,116 · -3.1%
• By 2040: 17,754 · -10.0%
• By 2050: 16,267 · -17.6%
• By 2075: 12,858 · -34.9%
• By 2100: 10,121 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 52% Black 40% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 2% Scotch-Irish 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.7) · D 33.2% · R 65.9%
• 2008→2024 swing: -11.0pp toward R · 2008: -21.8pp · 2024: -32.7pp
• All cycles: 2024: R+32.7 2020: R+26.6 2016: R+25.8 2012: R+19.1 2008: R+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.56%
• Current HPI: 139.1889
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-70.5% since first listed

13 events — show timeline

• 2026-05-08 Price Changed $26,500 MLSU
• 2026-04-08 Price Changed $30,000 MLSU
• 2026-03-27 Relisted — MLSU
• 2026-03-12 Pending — MLSU
• 2026-02-05 Price Changed $34,900 MLSU
• 2026-01-05 Price Changed $44,900 MLSU
• 2025-11-25 Price Changed $54,900 MLSU
• 2025-10-24 Price Changed $64,900 MLSU
• 2025-09-23 Price Changed $74,900 MLSU
• 2025-08-20 Listed $89,900 MLSU
• 1994-09-14 Sold (Public Records) — Public Records
• 1988-05-02 Sold (Public Records) — Public Records
• 1987-10-27 Sold (Public Records) — Public Records

Property tax history

+34.5%/yr

Latest (2025): $1,666 · +16.1% YoY. Source: county tax records.