177 Hodges Camp Rd

Woodville, MS 39669

$40,000B

2 bd · 2.0 ba · 1,200 sqft · Built 1990 · SingleFamily · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,035/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $541/mo
• Annual: $6,497/yr
• Cap rate: 22.54%
• Cash-on-cash: 58.01%
• DSCR: 3.58
• 1% rule: 2.59%
• Cash to close: $11,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 36 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($277 loan paydown + $2k appreciation (5.3% local appreciation)).
• Location reads 65/100 on livability (#104 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Wilkinson County School District (rural): math 4% / reading 11% proficiency, ranked #124 of 130 in MS (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 95% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 35 active listings in the ZIP.
• Wilkinson County population projected at -37% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 7y ago; this cycle's ask has dropped $35k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% 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.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.
• 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.