2133 Matthews Rd · Tylertown, MS 39667

$370,000

9 bd · 3.9 ba · 3,052 sqft · MultiFamily · 113 Days on market

Built 2025 Good condition 3.40 ac lot ↓ 3% since listing

---

Why this score? — see what drove the C- 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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Income-Producing Tiny Home Investment! Four tiny homes -- three fully completed and one 50%+ complete. Currently renting at $1,000/month per unit with one occupied and two ready to lease, offering immediate cash flow and value-add potential. Finish the fourth unit to maximize income. Also, have the option to add more homes on lot 3. Great opportunity for investors seeking strong rental returns!

Key facts

• 3.4 acre lot
• Built 2025
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $370k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive. Per door: $148/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $337k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.1% in Tylertown — 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.

Location & tenants

• Location reads 69/100 on livability (#46 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• North Pike School District (town): math 25% / reading 32% proficiency, ranked #69 of 130 in MS (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Pike Elementary School (math 37% / reading 42%, grade F, #122 of 375 statewide, top 34%, 806 students, 100% FRL); North Pike Junior High School (math 26% / reading 24%, grade F, #99 of 179 statewide, top 55%, 353 students, 100% FRL); North Pike Senior High School (math 22% / reading 32%, grade F, #101 of 197 statewide, top 54%, 697 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 93 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Pike County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($337k) is reasonable based on typical stale-listing flexibility.

Recommended offer $336,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• GRM: 8.1

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: -8.3%
• Equity multiple: 0.69×
• Total profit: $-31,606
• Equity at exit: $55,168

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $9,143
• Equity at exit: $31,991

Cash invested: $103,600 (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 39667

• Home prices YoY: -18.4%
• Active inventory: 93
• Price-to-rent: 24.3×

Monthly cashflow live

• Estimated rent: $3,799 medium
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $444

Break-even live

Break-even rent $3,237

Max offer price $370,000

Occupancy floor 83%

Sensitivity live

Price	-10% $700	-5% $572	+0% $444	+5% $316	+10% $189
Rent	-10% $144	-5% $294	+0% $444	+5% $594	+10% $744
Rate	-1.0pp $631	-0.5pp $538	base $444	+0.5pp $348	+1.0pp $251

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$3,798
Total (3 units)			$3,799

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $370,000 Active 113 DOM
2. 2026-06-21
   days on market $370,000 Active 112 DOM
3. 2026-06-18
   days on market $370,000 Active 110 DOM
4. 2026-06-17
   days on market $370,000 Active 109 DOM
5. 2026-06-16
   days on market $370,000 Active 108 DOM
6. 2026-06-15
   days on market $370,000 Active 107 DOM
7. 2026-06-13
   days on market $370,000 Active 105 DOM
8. 2026-06-12
   days on market $370,000 Active 104 DOM
9. 2026-06-09
   days on market $370,000 Active 101 DOM
10. 2026-06-08
    days on market $370,000 Active 100 DOM
11. 2026-06-07
    days on market $370,000 Active 99 DOM
12. 2026-06-07
    days on market $370,000 Active 98 DOM
13. 2026-06-04
    days on market $370,000 Active 95 DOM
14. 2026-06-02
    days on market $370,000 Active 94 DOM
15. 2026-06-01
    days on market $370,000 Active 93 DOM
16. 2026-05-31
    days on market $370,000 Active 92 DOM
17. 2026-04-27
    price $370,000 399-char remark

    Show marketing remark (399 chars)

    Income-Producing Tiny Home Investment! Four tiny homes -- three fully completed and one 50%+ complete. Currently renting at $1,000/month per unit with one occupied and two ready to lease, offering immediate cash flow and value-add potential. Finish the fourth unit to maximize income. Also, have the option to add more homes on lot 3. Great opportunity for investors seeking strong rental returns!

18. 2026-02-27
    listed $380,000 Active 399-char remark

    Show marketing remark (399 chars)

    Income-Producing Tiny Home Investment! Four tiny homes -- three fully completed and one 50%+ complete. Currently renting at $1,000/month per unit with one occupied and two ready to lease, offering immediate cash flow and value-add potential. Finish the fourth unit to maximize income. Also, have the option to add more homes on lot 3. Great opportunity for investors seeking strong rental returns!

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

Taxation est. · year 1

• Rental income: $45,588
• − Mortgage interest: −$20,726
• − Property taxes: −$5,550
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,647
• − Management: −$3,647
• − Depreciation: −$10,764
• Taxable loss: −$595
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $5,474/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

The property is in good condition with cosmetic updates needed to enhance its resale and rental value. The home is move-in ready with minimal repairs and maintenance required.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance suggests some touch-up or replacement may be needed.
• Minor Bathroom fixtures — Dated appearance suggests some cleaning or replacement may be needed.

Value-add opportunities

• Resale Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's curb appeal and value.
• Rental Landscaping improvements — Well-maintained landscaping can attract more tenants and improve rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance suggests some touch-up or replacement may be needed.	Minor	$500–3,000
Bathroom fixtures · Dated appearance suggests some cleaning or replacement may be needed.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's curb appeal and value. ↑
• Rental Landscaping improvements — Well-maintained landscaping can attract more tenants and improve rental 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: North Pike School District
• NCES district ID: 2803240
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $41,558
• Composite: 24.13/100
• National rank: #7748
• State rank: #69 of 130 in MS

Livability — Tylertown

• Score: 69/100
• State rank: #46
• US rank: #8187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,138

Population outlook (Pike County) Hauer SSP2

• Today (2025): 38,766 people
• By 2030: 37,874 · -2.3%
• By 2040: 35,743 · -7.8%
• By 2050: 33,276 · -14.2%
• By 2075: 26,799 · -30.9%
• By 2100: 18,562 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 50% Black 43% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Pike

• 2024 margin: Toss-up / Even · D 47.8% · R 51.3%
• 2008→2024 swing: -7.0pp toward R · 2008: 3.5pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+1.0 2016: R+0.7 2012: D+7.6 2008: D+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.26%
• Current HPI: 147.5232
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-2.6% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $370,000 MLSU
• 2026-02-27 Listed $380,000 MLSU