506 Hatchie St · Booneville, MS 38829

$35,000

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 25 Days on market

Built 1940 0.50 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
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 Bedroom/ 1 bath home situated approx. 1.5 miles to the hospital and 2 miles to NE. MS. Community College. All information deemed reliable. We do not warrant acreage. Buyers are responsible for verifying all taxes, schools and information before making an offer.

Key facts

• 0.5 acre lot
• Built 1940
• Listed 25 days

Property features AI

Finance

• Financial info: Annual tax: $638.96

Exterior

• Home design: Single-family residence (cottage); 1 story
• Exterior features: Patio

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Has cooling; Ceiling fan(s)
• Interior features: Ceiling fan(s); Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#117 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Booneville School District (town): math 49% / reading 46% proficiency, ranked #24 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 11 units permitted in Prentiss County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Prentiss County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 2.86% ✓
• Cap rate: 24.76%
• Cash-on-cash: 65.95%
• DSCR: 3.93
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $125,280
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Lakeview Dr	0.51mi	3/1.0 (+1)	1,050 (-3%)	23mo	$15,000	$14	47
305 Jackson	0.72mi	3/2.0 (+1)	1,120 (+4%)	19mo	$130,000	$116	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 65.2%
• Equity multiple: 3.92×
• Total profit: $28,655
• Equity at exit: $5,219

10-year hold

• IRR: 69.5%
• Equity multiple: 8.06×
• Total profit: $69,211
• Equity at exit: $3,026

Cash invested: $9,800 (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 38829

• Active inventory: 142
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $539

Break-even live

Break-even rent $318

Max offer price $35,000

Occupancy floor 41%

Sensitivity live

Price	-10% $558	-5% $549	+0% $539	+5% $529	+10% $519
Rent	-10% $460	-5% $499	+0% $539	+5% $578	+10% $618
Rate	-1.0pp $556	-0.5pp $548	base $539	+0.5pp $530	+1.0pp $520

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Elm St Unit 1 Booneville, MS	2.0	1.0	1095	$1,000	$0.91	44d	1	0.82mi

Listing history 16 events

1. 2026-06-21
   days on market $35,000 Active 25 DOM
2. 2026-06-18
   days on market $35,000 Active 23 DOM
3. 2026-06-17
   days on market $35,000 Active 22 DOM
4. 2026-06-16
   days on market $35,000 Active 21 DOM
5. 2026-06-15
   days on market $35,000 Active 20 DOM
6. 2026-06-13
   days on market $35,000 Active 18 DOM
7. 2026-06-12
   days on market $35,000 Active 17 DOM
8. 2026-06-09
   days on market $35,000 Active 14 DOM
9. 2026-06-08
   days on market $35,000 Active 13 DOM
10. 2026-06-07
    days on market $35,000 Active 12 DOM
11. 2026-06-05
    days on market $35,000 Active 10 DOM
12. 2026-06-04
    days on market $35,000 Active 8 DOM
13. 2026-06-02
    days on market $35,000 Active 7 DOM
14. 2026-06-01
    days on market $35,000 Active 6 DOM
15. 2026-05-31
    days on market $35,000 Active 5 DOM
16. 2026-05-26
    listed $35,000 Active

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

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $639 · $53/mo
• Projected year-2 tax: $639 · $53/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $12,000
• − Mortgage interest: −$1,961
• − Property taxes: −$639
• − Insurance: −$175
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$1,018
• Taxable income: $6,287
• Est. tax owed @ 24.0%: −$1,509
• After-tax cash flow: $4,955/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: Booneville School District
• NCES district ID: 2800820
• Math proficiency: 49% ▼ -19.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $29,722
• Composite: 38.79/100
• National rank: #4120
• State rank: #24 of 130 in MS

Livability — Booneville

• Score: 65/100
• State rank: #117
• US rank: #13203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Booneville, MS
• City population: 18,036
• Population (ZIP): 18,036

Population outlook (Prentiss County) Hauer SSP2

• Today (2025): 25,348 people
• By 2030: 25,247 · -0.4%
• By 2040: 24,786 · -2.2%
• By 2050: 23,851 · -5.9%
• By 2075: 20,434 · -19.4%
• By 2100: 15,359 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 3% Asian 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · China, South Korea
• Languages at home: 97% English-only · Vietnamese 1% Tagalog/Filipino 1%

Political lean MEDSL · Prentiss

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.7%
• 2008→2024 swing: -23.2pp toward R · 2008: -42.8pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+58.3 2016: R+56.5 2012: R+42.4 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.50%
• Current HPI: 108.2429
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $35,000 NEMSBD

Property tax history

+11.7%/yr

Latest (2025): $639 · +0.0% YoY. Source: county tax records.