1136 Berry St

Prentiss, MS 39474

$310,000D+

132 bd · 121.0 ba · 10,000 sqft · Built 1968 · MultiFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $30,766/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$517
• HOA: −$0
• Vac / Maint / Mgmt: −$6,461
• Net cashflow: $22,163/mo
• Annual: $265,954/yr
• Cap rate: 92.08%
• Cash-on-cash: 306.40%
• DSCR: 14.63
• 1% rule: 9.92%
• Cash to close: $86,800

Investor read

• This is a 10×1bd/1ba + 1×2bd/1ba units multifamily listed at $310k.
• At list price, monthly cash flow is $22k ($266k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($31k rent vs $310k).
• It's been on market 39 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $301k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($2k loan paydown + $830 appreciation (0.3% local appreciation)).
• Location reads 61/100 on livability (#204 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: housing C-, health & safety D, schools F.
• Jefferson Davis County School District (rural): math 14% / reading 20% proficiency, ranked #104 of 130 in MS (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP.
• Jefferson Davis County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y 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.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $87k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1968 — 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?
• 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?
• 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.