135 Alma St

Tutwiler, MS 38963

$50,000B+

4 bd · 2.0 ba · 2,173 sqft · Built 1950 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,330/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$279
• Net cashflow: $705/mo
• Annual: $8,458/yr
• Cap rate: 23.21%
• Cash-on-cash: 60.42%
• DSCR: 3.69
• 1% rule: 2.66%
• Cash to close: $14,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-0.8%/yr); year-one equity from $346 of loan paydown is wiped out by about $373 of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#240 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• West Tallahatchie School District (rural): math 4% / reading 11% proficiency, ranked #125 of 130 in MS (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 98% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 1 units permitted in Tallahatchie County in 2024 (0 in 5+ unit buildings).
• Tallahatchie County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Weathered and may need repainting or replacement
• Moderate: Windows — May need replacement for better energy efficiency and appearance
• Moderate: Paint — Interior walls and paint show signs of wear