411 Court St · Vaiden, MS 39176

$1,500,000

56 bd · 28.0 ba · 22,561 sqft · MultiFamily · 168 Days on market

Built 1981 Fair condition 3.00 ac lot

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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
• Appreciation +5.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 28 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Well-maintained 28-unit Project-Based Section 8 multifamily community located at 411 Court Street, Vaiden, MS. The property is 95% occupied and benefits from a long-term HUD HAP contract in place through 2036, providing stable, government-backed income. Built in 1981, the asset spans approximately 21,926 SF on ±3.44 acres and is zoned R-4 Multifamily. Positioned in the county seat of Carroll County with convenient access to Highway 51 and Highway 35, and supported by nearby retail, medical, and educational amenities. Turnkey affordable housing investment with long-term cash flow and future redevelopment or 4%/9% LIHTC potential.

Key facts

• 3 acre lot
• Built 1981
• Listed 168 days

What this means for you Summary

Snapshot

• This is a 28 × 2-bed/1.0-bath units multifamily listed at $1.50M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $8k ($101k/yr) — positive. Per door: $302/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.50M).
• Recommended offer: $1.32M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#308 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, schools F.
• Carroll County School District (rural): math 13% / reading 21% proficiency, ranked #97 of 130 in MS (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 19 active listings in the ZIP.

Forward outlook

• In year one you build about $17k of equity ($10k loan paydown + $7k appreciation (0.5% local appreciation)).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $420k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 45% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,320,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
8. 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.
9. 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.
10. 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: 1.59% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.12%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 2.25×
• Total profit: $526,464
• Equity at exit: $469,861

10-year hold

• IRR: 28.6%
• Equity multiple: 4.30×
• Total profit: $1,386,255
• Equity at exit: $592,955

Cash invested: $420,000 (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 39176

• Home prices YoY: 0.5%
• Active inventory: 19
• Price-to-rent: 147.0×

Monthly cashflow live

• Estimated rent: $23,809 medium
• Mortgage (P&I): −$7,866
• Tax est. 1.5%: −$1,875 /mo · $22,500/yr
• Insurance: −$625
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,000
• Net cashflow: $8,443

Break-even live

Break-even rent $13,122

Max offer price $1,500,000

Occupancy floor 60%

Sensitivity live

Price	-10% $9,480	-5% $8,961	+0% $8,443	+5% $7,925	+10% $7,406
Rent	-10% $6,562	-5% $7,502	+0% $8,443	+5% $9,383	+10% $10,324
Rate	-1.0pp $9,198	-0.5pp $8,824	base $8,443	+0.5pp $8,054	+1.0pp $7,659

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

Units	Beds	Baths	Est. rent
▸ 28× units	2	1	$23,800
Total (28 units)			$23,809

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: $375,000
• Closing costs: $45,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $1,500,000 Active 168 DOM
2. 2026-06-18
   days on market $1,500,000 Active 166 DOM
3. 2026-06-17
   days on market $1,500,000 Active 165 DOM
4. 2026-06-16
   days on market $1,500,000 Active 164 DOM
5. 2026-06-15
   days on market $1,500,000 Active 163 DOM
6. 2026-06-13
   days on market $1,500,000 Active 161 DOM
7. 2026-06-12
   days on market $1,500,000 Active 160 DOM
8. 2026-06-09
   days on market $1,500,000 Active 157 DOM
9. 2026-06-08
   days on market $1,500,000 Active 156 DOM
10. 2026-06-07
    days on market $1,500,000 Active 155 DOM
11. 2026-06-07
    days on market $1,500,000 Active 154 DOM
12. 2026-06-04
    days on market $1,500,000 Active 151 DOM
13. 2026-06-02
    days on market $1,500,000 Active 150 DOM
14. 2026-06-01
    days on market $1,500,000 Active 149 DOM
15. 2026-05-31
    days on market $1,500,000 Active 148 DOM
16. 2026-01-01
    listed $1,500,000 Active 643-char remark

    Show marketing remark (643 chars)

    Well-maintained 28-unit Project-Based Section 8 multifamily community located at 411 Court Street, Vaiden, MS. The property is 95% occupied and benefits from a long-term HUD HAP contract in place through 2036, providing stable, government-backed income. Built in 1981, the asset spans approximately 21,926 SF on ±3.44 acres and is zoned R-4 Multifamily. Positioned in the county seat of Carroll County with convenient access to Highway 51 and Highway 35, and supported by nearby retail, medical, and educational amenities. Turnkey affordable housing investment with long-term cash flow and future redevelopment or 4%/9% LIHTC potential.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% 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: $285,708
• − Mortgage interest: −$84,023
• − Property taxes: −$22,500
• − Insurance: −$7,500
• − Repairs & maintenance: −$22,857
• − Management: −$22,857
• − Depreciation: −$43,636
• Taxable income: $82,335
• Est. tax owed @ 24.0%: −$19,760
• After-tax cash flow: $81,555/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehabilitation needs, primarily focusing on landscaping and exterior maintenance to improve its curb appeal and overall value.

Repairs flagged

• Major Landscaping — Overgrown vegetation and debris
• Major Exterior maintenance — Overgrown vegetation and debris

Value-add opportunities

• Both Landscaping and exterior maintenance — Improving curb appeal and property value
• Rental HVAC maintenance — Ensuring comfort and reducing utility costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown vegetation and debris	Major	$15,000–50,000
Exterior maintenance · Overgrown vegetation and debris	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and exterior maintenance — Improving curb appeal and property value ↑
• Rental HVAC maintenance — Ensuring comfort and reducing utility costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Carroll County School District
• NCES district ID: 2800930
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 21% ▼ -3.00%
• Median HH income: $34,947
• Composite: 13.96/100
• National rank: #9477
• State rank: #97 of 130 in MS

Livability — Vaiden

• Score: 56/100
• State rank: #308
• US rank: #22898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vaiden, MS
• Population (ZIP): 2,638

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 9,591 people
• By 2030: 9,104 · -5.1%
• By 2040: 7,986 · -16.7%
• By 2050: 6,981 · -27.2%
• By 2075: 5,244 · -45.3%
• By 2100: 3,826 · -60.1%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: Black 50% White 48% Two or more races 1%
• Common ancestry: Slovak 1% Italian 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+44.3) · D 27.6% · R 71.8%
• 2008→2024 swing: -13.0pp toward R · 2008: -31.3pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+38.5 2016: R+38.9 2012: R+32.9 2008: R+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.45%
• Current HPI: 98.4441
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-01-01 Listed $1,500,000 MLSU