4610 Pleasant Grove Rd · Redwater, MS 39051

$85,000

3 bd · 2.0 ba · 900 sqft · SingleFamily · 14 Days on market

2.00 ac lot

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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 +24.2/30.0
• Appreciation +9.5/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Lovely 3bedroom/2bathroom home in the rural country area. This property comes with 2 acres of land, and a newly built deck.

Key facts

• 2 acres of land
• 2 acre lot
• Listed 14 days

Tags

• 2 ACRES OF LAND

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $85k).

Location & tenants

• Location reads 56/100 on livability (#302 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Leake County School District (town): math 11% / reading 22% proficiency, ranked #102 of 130 in MS (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP.

Forward outlook

• In year one you build about $8k of equity ($588 loan paydown + $8k appreciation (9.0% local appreciation)).
• Leake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 3.15×
• Total profit: $51,103
• Equity at exit: $70,198

10-year hold

• IRR: 25.1%
• Equity multiple: 6.91×
• Total profit: $140,713
• Equity at exit: $145,074

Cash invested: $23,800 (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 39051

• Home prices YoY: 5.9%
• Active inventory: 81
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$40 /mo · $483/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $170

Break-even live

Break-even rent $660

Max offer price $85,000

Occupancy floor 76%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-25
   status Pending
2. 2026-04-11
   listed $85,000 Active
3. 2005-10-14
   soldstatus

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

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $483 · $40/mo
• Projected year-2 tax: $672 · $56/mo
• Expected delta: +$189/yr (+$16/mo · 39.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $10,503
• − Mortgage interest: −$4,761
• − Property taxes: −$483
• − Insurance: −$425
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$2,473
• Taxable income: $681
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $1,877/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.

Schools (NCES district)

• District: Leake County School District
• NCES district ID: 2802520
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $32,894
• Composite: 13.33/100
• National rank: #9538
• State rank: #102 of 130 in MS

Livability — Redwater

• Score: 56/100
• State rank: #302
• US rank: #22495

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,242

Population outlook (Leake County) Hauer SSP2

• Today (2025): 21,382 people
• By 2030: 20,405 · -4.6%
• By 2040: 18,208 · -14.8%
• By 2050: 15,732 · -26.4%
• By 2075: 9,562 · -55.3%
• By 2100: 5,455 · -74.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 47% Black 39% Hispanic / Latino 8% Native American 5% Two or more races 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 7%

Political lean MEDSL · Leake

• 2024 margin: Strong R (+23.4) · D 38.0% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.7pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+14.5 2016: R+14.2 2012: R+8.6 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.96%
• Current HPI: 161.5452
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-04-25 Pending — MLSU
• 2026-04-11 Listed $85,000 MLSU
• 2005-10-14 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $483 · +3.6% YoY. Source: county tax records.