96 Pine Grove Rd · Picayune, MS 39466

$178,000

3 bd · 1.0 ba · 1,928 sqft · SingleFamily public records · 84 Days on market

Built 1976 2.60 ac lot $92/sqft · 41% below area Est $303k · 41% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.6/30.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated on approximately 2.6 private wooded acres in Picayune, this spacious brick ranch offers the rare combination of usable land, workshop space, rural infrastructure, and major system improvements already completed. With approximately 1,928 sqft, a 27x30 detached workshop, tractor and implements included, and room to customize, this property is ideal for buyers looking for privacy, functionality, and long-term potential. The property features a true rural setup with a private well system, pressure tank, and water filtration system already in place and housed inside a separate utility shed on the property. The detached 27x30 workshop offers substantial storage and workspace potential with overhead garage-style doors and electrical service, making it ideal for mechanics, hobbyists, contractors, equipment storage, woodworking, recreational vehicles, or home-based business use. Several major improvements have already been completed including: transferable CableLock lifetime foundation warranty newer roof updated HVAC system updated flooring in several areas newer water heater Inside, the home offers large living spaces and ongoing renovations already started, allowing the next owner the opportunity to personalize and finish the property to their style. Certain areas remain unfinished and would make an excellent candidate for renovation financing, conventional renovation loans, FHA 203k financing, sweat-equity buyers, or buyers looking to create their own private.

Key facts

• Quiet rural feel
• Outdoor space
• 2.6 acres

Tags

• 2.6 ACRES
• OUTDOOR SPACE
• MATURE TREES
• QUIET RURAL FEEL
• SHORT DRIVE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (18.7% below list).
• Recommended offer: $145k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.3% in Picayune — 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 76/100 on livability (#11 in MS, #3,748 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, amenities A; Watch: commute F, employment F.
• Picayune School District (town): math 31% / reading 34% proficiency, ranked #60 of 130 in MS (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Picayune Junior High School (math 40% / reading 33%, grade F, #77 of 179 statewide, top 43%, 510 students, 100% FRL); Picayune Memorial High School (math 21% / reading 41%, grade F, #85 of 197 statewide, top 43%, 941 students, 100% FRL) — zoned schools average 100% FRL vs 73% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 349 active listings in the ZIP; 326 units permitted in Pearl River 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.
• Pearl River County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,759 (18.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.81% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.08%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $303,273
• List price: $178,000
• Delta: -41.31%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-34,332
• Equity at exit: $26,540

10-year hold

• IRR: -12.6%
• Equity multiple: 0.26×
• Total profit: $-36,903
• Equity at exit: $15,390

Cash invested: $49,840 (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 39466

• Home prices YoY: -26.3%
• Active inventory: 349
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$933
• Tax est. 1.5%: −$222 /mo · $2,670/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-87

Break-even live

Break-even rent $1,557

Max offer price $165,480

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-25	+0% $-87	+5% $-148	+10% $-210
Rent	-10% $-201	-5% $-144	+0% $-87	+5% $-29	+10% $28
Rate	-1.0pp $3	-0.5pp $-41	base $-87	+0.5pp $-133	+1.0pp $-180

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-08
   days on market $178,000 Active 84 DOM
2. 2026-06-07
   days on market $178,000 Active 83 DOM
3. 2026-06-07
   days on market $178,000 Active 82 DOM
4. 2026-06-04
   days on market $178,000 Active 79 DOM
5. 2026-06-03
   days on market $178,000 Active 78 DOM
6. 2026-06-01
   days on market $178,000 Active 77 DOM
7. 2026-05-31
   days on market $178,000 Active 76 DOM
8. 2026-04-03
   price $178,000 1488-char remark

   Show marketing remark (1488 chars)

   Situated on approximately 2.6 private wooded acres in Picayune, this spacious brick ranch offers the rare combination of usable land, workshop space, rural infrastructure, and major system improvements already completed. With approximately 1,928 sqft, a 27x30 detached workshop, tractor and implements included, and room to customize, this property is ideal for buyers looking for privacy, functionality, and long-term potential. The property features a true rural setup with a private well system, pressure tank, and water filtration system already in place and housed inside a separate utility shed on the property. The detached 27x30 workshop offers substantial storage and workspace potential with overhead garage-style doors and electrical service, making it ideal for mechanics, hobbyists, contractors, equipment storage, woodworking, recreational vehicles, or home-based business use. Several major improvements have already been completed including: transferable CableLock lifetime foundation warranty newer roof updated HVAC system updated flooring in several areas newer water heater Inside, the home offers large living spaces and ongoing renovations already started, allowing the next owner the opportunity to personalize and finish the property to their style. Certain areas remain unfinished and would make an excellent candidate for renovation financing, conventional renovation loans, FHA 203k financing, sweat-equity buyers, or buyers looking to create their own private.

9. 2026-03-16
   price $188,000 1488-char remark

   Show marketing remark (1488 chars)

   Situated on approximately 2.6 private wooded acres in Picayune, this spacious brick ranch offers the rare combination of usable land, workshop space, rural infrastructure, and major system improvements already completed. With approximately 1,928 sqft, a 27x30 detached workshop, tractor and implements included, and room to customize, this property is ideal for buyers looking for privacy, functionality, and long-term potential. The property features a true rural setup with a private well system, pressure tank, and water filtration system already in place and housed inside a separate utility shed on the property. The detached 27x30 workshop offers substantial storage and workspace potential with overhead garage-style doors and electrical service, making it ideal for mechanics, hobbyists, contractors, equipment storage, woodworking, recreational vehicles, or home-based business use. Several major improvements have already been completed including: transferable CableLock lifetime foundation warranty newer roof updated HVAC system updated flooring in several areas newer water heater Inside, the home offers large living spaces and ongoing renovations already started, allowing the next owner the opportunity to personalize and finish the property to their style. Certain areas remain unfinished and would make an excellent candidate for renovation financing, conventional renovation loans, FHA 203k financing, sweat-equity buyers, or buyers looking to create their own private.

10. 2026-03-16
    listed $168,000 Active 1488-char remark

    Show marketing remark (1488 chars)

    Situated on approximately 2.6 private wooded acres in Picayune, this spacious brick ranch offers the rare combination of usable land, workshop space, rural infrastructure, and major system improvements already completed. With approximately 1,928 sqft, a 27x30 detached workshop, tractor and implements included, and room to customize, this property is ideal for buyers looking for privacy, functionality, and long-term potential. The property features a true rural setup with a private well system, pressure tank, and water filtration system already in place and housed inside a separate utility shed on the property. The detached 27x30 workshop offers substantial storage and workspace potential with overhead garage-style doors and electrical service, making it ideal for mechanics, hobbyists, contractors, equipment storage, woodworking, recreational vehicles, or home-based business use. Several major improvements have already been completed including: transferable CableLock lifetime foundation warranty newer roof updated HVAC system updated flooring in several areas newer water heater Inside, the home offers large living spaces and ongoing renovations already started, allowing the next owner the opportunity to personalize and finish the property to their style. Certain areas remain unfinished and would make an excellent candidate for renovation financing, conventional renovation loans, FHA 203k financing, sweat-equity buyers, or buyers looking to create their own private.

ⓘ 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 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $17,371
• − Mortgage interest: −$9,971
• − Property taxes: −$2,670
• − Insurance: −$890
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$5,178
• Taxable loss: −$4,117
• Est. tax savings @ 24.0%: +$988
• After-tax cash flow: $-50/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: Picayune School District
• NCES district ID: 2803630
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $38,446
• Composite: 27.17/100
• National rank: #7025
• State rank: #60 of 130 in MS

Livability — Picayune

• Score: 76/100
• State rank: #11
• US rank: #3748

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 28,292

Population outlook (Pearl River County) Hauer SSP2

• Today (2025): 53,426 people
• By 2030: 51,663 · -3.3%
• By 2040: 47,611 · -10.9%
• By 2050: 43,286 · -19.0%
• By 2075: 32,859 · -38.5%
• By 2100: 22,476 · -57.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 9% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Pearl River

• 2024 margin: Solid R (+66.7) · D 16.1% · R 82.8% · Other 1.0%
• 2008→2024 swing: -6.3pp toward R · 2008: -60.4pp · 2024: -66.7pp
• All cycles: 2024: R+66.7 2020: R+64.2 2016: R+66.8 2012: R+60.3 2008: R+60.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.32%
• Current HPI: 194.6541
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+6.0% since first listed

3 events — show timeline

• 2026-04-03 Price Changed $178,000 MLSU
• 2026-03-16 Price Changed $188,000 MLSU
• 2026-03-16 Listed $168,000 MLSU

Property tax history

-12.9%/yr

Latest (2025): $163 · +0.3% YoY. Source: county tax records.