115 Camden Ct

Madison, MS 39110

$369,900D

3 bd · 4.0 ba · 1,906 sqft · Built 1997 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,723/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$314
• HOA: −$96
• Vac / Maint / Mgmt: −$572
• Net cashflow: $-198/mo
• Annual: $-2,378/yr
• Cap rate: 5.65%
• Cash-on-cash: -2.30%
• DSCR: 0.90
• 1% rule: 0.74%
• Cash to close: $103,572

Investor read

• This is a 3-bed/4.0-bath single-family listed at $370k.
• At list price, monthly cash flow is $-198 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (9.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (26.4% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $272k (26.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#4 in MS, #1,556 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Canton Public School District (rural): math 13% / reading 19% proficiency, ranked #100 of 130 in MS (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mc Neal Elementary School (math 9% / reading 20%, grade F, #279 of 375 statewide, top 77%, 410 students, 100% FRL); Nichols Middle School (math 13% / reading 15%, grade F, #138 of 179 statewide, top 78%, 396 students, 100% FRL); Canton Public High School (math 8% / reading 18%, grade F, #158 of 197 statewide, top 80%, 597 students, 100% FRL).
• Market conditions: Rents rising (+2.6%/yr); 634 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 3.8% in Madison — 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.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.