121 N 2nd St · Wiggins, MS 39577

$49,000

3 bd · 1.0 ba · 2,104 sqft · SingleFamily public records · 134 Days on market

Built 1920 10,018 sqft lot $23/sqft · 75% below area ↓ 30% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

Key facts

• 0.23 acre lot
• Parking
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 4.5% in Wiggins — 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 68/100 on livability (#58 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D, amenities F, commute F.
• Stone County School District (town): math 52% / reading 46% proficiency, ranked #15 of 130 in MS (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stone Elementary School (math 46% / reading 51%, grade D, #80 of 375 statewide, top 21%, 648 students, 100% FRL); Stone Middle School (math 54% / reading 42%, grade C-, #34 of 179 statewide, top 20%, 599 students, 100% FRL); Stone High School (math 52% / reading 42%, grade D-, #30 of 197 statewide, top 15%, 722 students, 100% FRL) — zoned schools average 100% FRL vs 56% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 70 active listings in the ZIP; 60 units permitted in Stone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Stone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $25k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 2.89% ✓
• Cap rate: 23.97%
• Cash-on-cash: 63.12%
• DSCR: 3.81
• GRM: 2.9

CMA / ARV

• ARV (median comp): $194,162
• List price: $49,000
• Delta: -69.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Iowa St	0.30mi	3/3.0	2,245 (+7%)	16mo	$189,900	$85	54
948 Clubhouse Dr	0.71mi	3/2.0	1,903 (-10%)	6mo	$215,000	$113	42
615 Baker St	0.71mi	3/2.0	1,820 (-14%)	10mo	$165,000	$91	32

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: 62.2%
• Equity multiple: 3.78×
• Total profit: $38,081
• Equity at exit: $7,306

10-year hold

• IRR: 66.7%
• Equity multiple: 7.75×
• Total profit: $92,576
• Equity at exit: $4,237

Cash invested: $13,720 (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 39577

• Home prices YoY: -30.1%
• Active inventory: 70
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,414 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$118 /mo · $1,415/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $722

Break-even live

Break-even rent $500

Max offer price $49,000

Occupancy floor 44%

Sensitivity live

Price	-10% $749	-5% $736	+0% $722	+5% $708	+10% $694
Rent	-10% $610	-5% $666	+0% $722	+5% $778	+10% $833
Rate	-1.0pp $746	-0.5pp $734	base $722	+0.5pp $709	+1.0pp $696

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   days on market $49,000 Active 134 DOM
2. 2026-06-21
   days on market $49,000 Active 133 DOM
3. 2026-06-21
   pricedays on market $49,000 Active 132 DOM
4. 2026-06-18
   days on market $59,000 Active 130 DOM
5. 2026-06-17
   days on market $59,000 Active 129 DOM
6. 2026-06-16
   days on market $59,000 Active 128 DOM
7. 2026-06-15
   days on market $59,000 Active 127 DOM
8. 2026-06-13
   days on market $59,000 Active 125 DOM
9. 2026-06-12
   days on market $59,000 Active 124 DOM
10. 2026-06-09
    days on market $59,000 Active 121 DOM
11. 2026-06-08
    days on market $59,000 Active 120 DOM
12. 2026-06-07
    days on market $59,000 Active 119 DOM
13. 2026-06-07
    days on market $59,000 Active 118 DOM
14. 2026-06-04
    days on market $59,000 Active 115 DOM
15. 2026-06-02
    days on market $59,000 Active 114 DOM
16. 2026-06-01
    days on market $59,000 Active 113 DOM
17. 2026-05-31
    days on market $59,000 Active 112 DOM
18. 2026-04-15
    price $59,000 307-char remark

    Show marketing remark (307 chars)

    Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

19. 2026-03-20
    price $62,500 307-char remark

    Show marketing remark (307 chars)

    Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

20. 2026-03-06
    status Active 307-char remark

    Show marketing remark (307 chars)

    Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

21. 2026-02-09
    status Pending 307-char remark

    Show marketing remark (307 chars)

    Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

22. 2026-01-29
    price $64,900 307-char remark

    Show marketing remark (307 chars)

    Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

23. 2026-01-14
    listed $74,000 Active 307-char remark

    Show marketing remark (307 chars)

    Back on Market- no fault to seller or property! Make Stone County Great Again, by bringing this 105 year old home back to life. Your investment awaits! Make the call before it's too late, this history filled property is priced to sell quick! Seller makes no warranties or guarantees on information provided.

24. 2021-10-01
    historical
25. 2019-03-15
    listed $68,000
26. 2006-08-17
    soldstatus
27. 2006-07-21
    listed $84,750

ⓘ 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: $1,415 · $118/mo
• Projected year-2 tax: $1,415 · $118/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $16,967
• − Mortgage interest: −$2,745
• − Property taxes: −$1,415
• − Insurance: −$245
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$1,425
• Taxable income: $8,422
• Est. tax owed @ 24.0%: −$2,021
• After-tax cash flow: $6,639/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: Stone County School District
• NCES district ID: 2804170
• Math proficiency: 52% ▼ -8.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $43,785
• Composite: 41.4/100
• National rank: #3476
• State rank: #15 of 130 in MS

Livability — Wiggins

• Score: 68/100
• State rank: #58
• US rank: #9290

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wiggins, MS
• Population (ZIP): 10,488

Population outlook (Stone County) Hauer SSP2

• Today (2025): 18,528 people
• By 2030: 18,585 · +0.3%
• By 2040: 18,429 · -0.5%
• By 2050: 17,825 · -3.8%
• By 2075: 16,095 · -13.1%
• By 2100: 14,276 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Serbian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Stone

• 2024 margin: Solid R (+58.0) · D 20.5% · R 78.5% · Other 1.1%
• 2008→2024 swing: -14.5pp toward R · 2008: -43.5pp · 2024: -58.0pp
• All cycles: 2024: R+58.0 2020: R+52.8 2016: R+53.5 2012: R+45.9 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.19%
• Current HPI: 158.2419
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-30.4% since first listed

10 events — show timeline

• 2026-04-15 Price Changed $59,000 MLSU
• 2026-03-20 Price Changed $62,500 MLSU
• 2026-03-06 Relisted — MLSU
• 2026-02-09 Pending — MLSU
• 2026-01-29 Price Changed $64,900 MLSU
• 2026-01-14 Listed $74,000 MLSU
• 2021-10-01 Listing Removed — MLSU
• 2019-03-15 Listed $68,000 MLSU
• 2006-08-17 Sold (MLS) — MLSU
• 2006-07-21 Listed $84,750 MLSU

Property tax history

+10.0%/yr

Latest (2025): $1,415 · +13.5% YoY. Source: county tax records.