204 N Main St · Petal, MS 39465

$142,500

3 bd · 1.0 ba · 1,423 sqft · SingleFamily public records · 45 Days on market

Built 1927 0.40 ac lot $100/sqft · 12% below area Est $184k · 23% under

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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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Schools +5.3/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient Location in Petal!! USDA Eligible!! Spacious 3 bedroom 1 bath. Bathroom has been nicely updated. Spacious kitchen has a newer gas stove. Fenced in back yard!!

Key facts

• 0.4 acre lot
• Parking
• Built 1927

Property features AI

Exterior

• Parking: Attached carport (1 space)
• Home design: Single-story historical residential property
• Construction: Brick construction
• Exterior features: Wood fencing, fenced yard

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fan(s); Central cooling
• Interior features: Gas log fireplace; 6 total rooms; Crawl space
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $34 ($413/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 $126k (11.4% below list).
• Recommended offer: $126k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.0% in Petal — 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 73/100 on livability (#18 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Petal School District (suburban): math 68% / reading 56% proficiency, ranked #2 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Petal Elementary (math 71% / reading 62%, grade B+, #14 of 375 statewide, top 3%, 634 students, 100% FRL); Petal Middle School (math 72% / reading 55%, grade B+, #3 of 179 statewide, top 2%, 745 students, 100% FRL); Petal High School (math 53% / reading 49%, grade D+, #17 of 197 statewide, top 9%, 1,288 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 228 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $89k; list at $142k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,234 (11.4% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 9.4

CMA / ARV

• ARV (median comp): $184,267
• List price: $142,500
• Delta: -22.67%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Smith St	0.50mi	3/2.0	1,391 (-2%)	2mo	$199,900	$144	68
126 Wilson Dr	0.47mi	3/1.0	1,326 (-7%)	3mo	$100,000	$75	64
113 Green St	0.59mi	3/2.0	1,500 (+5%)	5mo	$219,900	$147	56
142 W 5th Ave	0.49mi	4/1.5 (+1)	1,525 (+7%)	13mo	$189,500	$124	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

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: $-20,896
• Equity at exit: $21,247

10-year hold

• IRR: -6.0%
• Equity multiple: 0.62×
• Total profit: $-15,354
• Equity at exit: $12,321

Cash invested: $39,900 (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 39465

• Active inventory: 228
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,262 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$59
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $34

Break-even live

Break-even rent $1,219

Max offer price $142,500

Occupancy floor 92%

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 E First Ave Petal, MS	2.0	1.0	1062	$995	$0.94	43d	1	0.24mi
523 E Fifth Ave Petal, MS	3.0	1.0	1098	$1,500	$1.37	21d	1	0.75mi

Listing history 21 events

1. 2026-06-19
   days on market $142,500 Active 45 DOM
2. 2026-06-18
   days on market $142,500 Active 44 DOM
3. 2026-06-17
   days on market $142,500 Active 43 DOM
4. 2026-06-16
   days on market $142,500 Active 42 DOM
5. 2026-06-15
   days on market $142,500 Active 41 DOM
6. 2026-06-14
   days on market $142,500 Active 39 DOM
7. 2026-06-13
   days on market $142,500 Active 38 DOM
8. 2026-06-10
   days on market $142,500 Active 36 DOM
9. 2026-06-09
   days on market $142,500 Active 35 DOM
10. 2026-06-08
    days on market $142,500 Active 34 DOM
11. 2026-06-07
    days on market $142,500 Active 33 DOM
12. 2026-06-05
    days on market $142,500 Active 30 DOM
13. 2026-06-02
    days on market $142,500 Active 28 DOM
14. 2026-06-01
    days on market $142,500 Active 27 DOM
15. 2026-05-31
    days on market $142,500 Active 26 DOM
16. 2026-05-30
    days on market $142,500 Active 25 DOM
17. 2026-05-05
    listed $142,500 Active 523-char remark
18. 2023-02-23
    soldstatus 169-char remark

    Show marketing remark (169 chars)

    Convenient Location in Petal!! USDA Eligible!! Spacious 3 bedroom 1 bath. Bathroom has been nicely updated. Spacious kitchen has a newer gas stove. Fenced in back yard!!

19. 2017-04-24
    soldstatus $89,000
20. 2017-03-13
    listed $89,000 169-char remark

    Show marketing remark (169 chars)

    Convenient Location in Petal!! USDA Eligible!! Spacious 3 bedroom 1 bath. Bathroom has been nicely updated. Spacious kitchen has a newer gas stove. Fenced in back yard!!

21. 2015-05-30
    listed $86,000

ⓘ 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: $1,077 · $90/mo
• Projected year-2 tax: $1,126 · $94/mo
• Expected delta: +$49/yr (+$4/mo · 4.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 95% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $15,148
• − Mortgage interest: −$7,982
• − Property taxes: −$1,077
• − Insurance: −$1,510
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$4,145
• Taxable loss: −$1,990
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $890/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: Petal School District
• NCES district ID: 2803530
• Math proficiency: 68% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $51,872
• Composite: 52.97/100
• National rank: #1526
• State rank: #2 of 130 in MS

Livability — Petal

• Score: 73/100
• State rank: #18
• US rank: #5565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petal, MS
• County: Forrest County · 65,413 people
• City population: 22,882
• Metro: Hattiesburg, MS
• Population (ZIP): 22,882
• Household income: $74,035
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 199.0

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 13% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.97%
• Current HPI: 158.6021
• Rent YoY: —
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+65.7% since first listed

5 events — show timeline

• 2026-05-05 Listed $142,500 LBOR
• 2023-02-23 Sold (MLS) — HAAR
• 2017-04-24 Sold (Public Records) $89,000 Public Records
• 2017-03-13 Listed $89,000 HAAR
• 2015-05-30 Listed $86,000 HAAR

Property tax history

+4.5%/yr

Latest (2025): $1,077 · +22.6% YoY. Source: county tax records.