411 Court St

Vaiden, MS 39176

$1,500,000B

56 bd · 28.0 ba · 22,561 sqft · Built 1981 · MultiFamily · Active · 169 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $23,809/mo
• Mortgage (P&I): −$7,866
• Tax + insurance: −$2,500
• HOA: −$0
• Vac / Maint / Mgmt: −$5,000
• Net cashflow: $8,443/mo
• Annual: $101,315/yr
• Cap rate: 13.05%
• Cash-on-cash: 24.12%
• DSCR: 2.07
• 1% rule: 1.59%
• Cash to close: $420,000

Investor read

• This is a 28 × 2-bed/1.0-bath units multifamily listed at $1.50M. Condition is rated fair.
• 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).
• It's been on market 169 days — a 12% lower offer ($1.32M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.32M (12.0% below list) — sets the bar for market timing.
• In year one you build about $17k of equity ($10k loan paydown + $7k appreciation (0.5% local appreciation)).
• 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+, amenities 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.
• Zoned schools: Marshall Elementary School (math 12% / reading 27%, grade F, #246 of 375 statewide, top 67%, 364 students, 100% FRL); J Z George High School (math 12% / reading 18%, grade F, #148 of 197 statewide, top 76%, 441 students, 100% FRL) — zoned schools average 100% FRL vs 84% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 19 active listings in the ZIP.
• 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.
• 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.

Questions for listing agent

• It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

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