1028 County Road 146 · New Albany, MS 38652

$114,900

2 bd · 2.0 ba · 874 sqft · SingleFamily · 4 Days on market

Built 1950 Good condition 1.00 ac lot

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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).

• Cash flow +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming and move-in ready 2 bedroom, 2 bathroom home situated on a peaceful 1-acre lot. This property offers the perfect blend of comfort, space, and recent upgrades. Inside, you'll find a cozy living room that flows into the kitchen, creating a warm and inviting space for everyday living. The home has been updated with brand-new mini split systems, providing efficient heating and cooling year-round. Major improvements have already been taken care of, including a brand-new septic system, giving buyers peace of mind. Outside, the spacious one-acre lot provides plenty of room to enjoy the outdoors, garden, or expand. A detached carport offers convenient covered parking and ad

Key facts

• Detached carport
• 1 acre lot
• Mini split systems

Tags

• 1 ACRE LOT
• MINI SPLIT SYSTEMS
• BRAND NEW SEPTIC SYSTEM
• DETACHED CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $29 ($345/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (9.4% below list).
• Recommended offer: $104k (9.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#13 in MS, #4,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A-; Watch: employment D+, amenities F, commute F.
• New Albany Public Schools (rural): math 51% / reading 43% proficiency, ranked #22 of 130 in MS (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Albany Elementary School (math 51% / reading 48%, grade D, #65 of 375 statewide, top 20%, 1,048 students, 100% FRL); New Albany Middle School (math 47% / reading 35%, grade F, #56 of 179 statewide, top 33%, 482 students, 99% FRL); New Albany High School (math 67% / reading 57%, grade B-, #5 of 197 statewide, top 3%, 584 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 157 active listings in the ZIP; 17 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Union County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $104,156 (9.4% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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?
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: 0.91% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.07%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-16,770
• Equity at exit: $17,132

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-12,178
• Equity at exit: $9,934

Cash invested: $32,172 (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 38652

• Home prices YoY: -34.5%
• Active inventory: 157
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,042 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $29

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 92%

Sensitivity live

Price	-10% $108	-5% $68	+0% $29	+5% $-11	+10% $-51
Rent	-10% $-53	-5% $-12	+0% $29	+5% $70	+10% $111
Rate	-1.0pp $87	-0.5pp $58	base $29	+0.5pp $-1	+1.0pp $-31

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-01
   remarks 699-char remark
2. 2026-06-01
   listed $114,900 Pending 4 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $12,499
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,000
• − Management: −$1,000
• − Depreciation: −$3,343
• Taxable loss: −$1,578
• Est. tax savings @ 24.0%: +$379
• After-tax cash flow: $724/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This move-in ready home features updated interiors and systems, with good exterior condition. Minor exterior painting and landscaping would further enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Resale Paint trim — Improves home's appearance
• Both Landscaping — Enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Resale Paint trim — Improves home's appearance ↑
• Both Landscaping — Enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: New Albany Public Schools
• NCES district ID: 2803120
• Math proficiency: 51% ▼ -13.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $37,325
• Composite: 39.13/100
• National rank: #4037
• State rank: #22 of 130 in MS

Livability — New Albany

• Score: 74/100
• State rank: #13
• US rank: #4449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,540
• Population (ZIP): 15,540

Population outlook (Union County) Hauer SSP2

• Today (2025): 30,992 people
• By 2030: 32,294 · +4.2%
• By 2040: 34,789 · +12.3%
• By 2050: 36,987 · +19.3%
• By 2075: 40,835 · +31.8%
• By 2100: 40,538 · +30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Union

• 2024 margin: Solid R (+70.1) · D 14.5% · R 84.6%
• 2008→2024 swing: -20.2pp toward R · 2008: -49.9pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+64.8 2016: R+63.2 2012: R+51.0 2008: R+49.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.75%
• Current HPI: 153.1381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-06-01 Pending — NEMSBD
• 2026-03-04 Listed $114,900 NEMSBD