31 Webster Ave

Bassfield, MS 39427

$65,000B

3 bd · 1.0 ba · 1,929 sqft · Built 1960 · SingleFamily · Pending · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,130/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $344/mo
• Annual: $4,130/yr
• Cap rate: 12.65%
• Cash-on-cash: 22.69%
• DSCR: 2.01
• 1% rule: 1.74%
• Cash to close: $18,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $65k.
• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 123 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.7% local appreciation)).
• Location reads 61/100 on livability (#186 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Jefferson Davis County School District (rural): math 14% / reading 20% proficiency, ranked #104 of 130 in MS (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carver Elementary School (math 20% / reading 28%, grade F, #228 of 375 statewide, top 61%, 260 students, 100% FRL); Jdc Middle School (272 students, 100% FRL); Jdc High School (math 8% / reading 12%, grade F, #170 of 197 statewide, top 90%, 387 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Watch-outs: property tax is 3.3% of price.
• Market conditions: 2 active listings in the ZIP.
• Jefferson Davis County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $27k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.