212 Lou Ann St · Richland, MS 39073

$60,000

4 bd · 3.0 ba · 2,505 sqft · SingleFamily public records · 74 Days on market

Built 1999 1.17 ac lot $24/sqft · 88% below area ↓ 48% since listing

---

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 +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

Key facts

• Durable metal roof
• Huge enclosed gazebo
• 1.17 acre lot

Tags

• HUGE ENCLOSED GAZEBO
• OUTDOOR STORAGE BUILDINGS
• COVERED PARKING AREAS
• DURABLE METAL ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 5.1% in Richland — 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 64/100 on livability (#125 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, amenities F, commute F.
• Rankin County School District (rural): math 56% / reading 48% proficiency, ranked #6 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Steen'S Creek Elementary (581 students, 100% FRL); Florence Middle School (math 60% / reading 45%, grade C+, #22 of 179 statewide, top 13%, 601 students, 100% FRL); Florence High School (math 22% / reading 42%, grade F, #80 of 197 statewide, top 42%, 719 students, 100% FRL) — zoned schools average 100% FRL vs 35% district-wide (65 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 114 active listings in the ZIP; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.98% ✓
• Cap rate: 16.50%
• Cash-on-cash: 36.45%
• DSCR: 2.62
• GRM: 4.2

CMA / ARV

• ARV (median comp): $505,624
• List price: $60,000
• Delta: -88.13%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.3%
• Equity multiple: 2.36×
• Total profit: $22,805
• Equity at exit: $8,946

10-year hold

• IRR: 39.3%
• Equity multiple: 4.68×
• Total profit: $61,814
• Equity at exit: $5,188

Cash invested: $16,800 (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 39073

• Home prices YoY: -23.6%
• Active inventory: 114
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,187 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$88 /mo · $1,052/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $510

Break-even live

Break-even rent $541

Max offer price $60,000

Occupancy floor 52%

Sensitivity live

Price	-10% $544	-5% $527	+0% $510	+5% $493	+10% $476
Rent	-10% $417	-5% $463	+0% $510	+5% $557	+10% $604
Rate	-1.0pp $541	-0.5pp $526	base $510	+0.5pp $495	+1.0pp $479

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-23
   statusdays on market $60,000 Pending 74 DOM
2. 2026-06-22
   days on market $60,000 Active 73 DOM
3. 2026-06-18
   days on market $60,000 Active 70 DOM
4. 2026-06-17
   days on market $60,000 Active 69 DOM
5. 2026-06-16
   days on market $60,000 Active 68 DOM
6. 2026-06-15
   remarks 678-char remark
7. 2026-06-15
   price $60,000 Active 67 DOM
8. 2026-06-15
   days on market $65,000 Active 67 DOM
9. 2026-06-14
   days on market $65,000 Active 65 DOM
10. 2026-06-13
    days on market $65,000 Active 64 DOM
11. 2026-06-10
    days on market $65,000 Active 62 DOM
12. 2026-06-09
    days on market $65,000 Active 61 DOM
13. 2026-06-08
    days on market $65,000 Active 60 DOM
14. 2026-06-07
    days on market $65,000 Active 59 DOM
15. 2026-06-03
    days on market $65,000 Active 55 DOM
16. 2026-06-02
    days on market $65,000 Active 54 DOM
17. 2026-06-01
    days on market $65,000 Active 53 DOM
18. 2026-05-31
    days on market $65,000 Active 52 DOM
19. 2026-05-30
    days on market $65,000 Active 51 DOM
20. 2026-05-14
    status Active 676-char remark

    Show marketing remark (676 chars)

    Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

21. 2026-05-14
    price $65,000 676-char remark

    Show marketing remark (676 chars)

    Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

22. 2026-04-10
    status Active 676-char remark

    Show marketing remark (676 chars)

    Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

23. 2026-03-20
    status Pending 676-char remark

    Show marketing remark (676 chars)

    Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

24. 2026-03-20
    historical 676-char remark

    Show marketing remark (676 chars)

    Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

25. 2026-02-12
    listed $75,000 Active 676-char remark

    Show marketing remark (676 chars)

    Discover the potential of this charming fixer-upper located in Florence, near Richland. This spacious home features three bedrooms and two full bathrooms, complemented by a large living room and a nice-sized den perfect for your family's needs. Enjoy the outdoors in the huge enclosed gazebo—ideal for gatherings year-round. The property includes two outdoor storage buildings for all your tools and toys, plus four covered parking areas, including one perfectly sized for an RV. With a durable metal roof and plenty of space to customize, this home is ready for your personal touch. Don't miss out—call the REALTOR® of your choice today to schedule a viewing!

26. 2025-03-19
    status Active
27. 2025-03-11
    status Pending
28. 2025-03-11
    historical
29. 2025-02-03
    status Active
30. 2024-01-03
    status Active
31. 2023-12-30
    historical
32. 2023-11-15
    price $100,000
33. 2023-11-01
    status Active
34. 2023-09-28
    status Pending
35. 2023-09-28
    historical
36. 2023-09-28
    status Active
37. 2023-09-13
    historical
38. 2023-06-30
    status Active
39. 2023-03-30
    status Pending
40. 2023-01-20
    price $115,000
41. 2022-11-14
    listed $125,000 Active

ⓘ 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: $1,052 · $88/mo
• Projected year-2 tax: $1,052 · $88/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,242
• − Mortgage interest: −$3,361
• − Property taxes: −$1,052
• − Insurance: −$300
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$1,745
• Taxable income: $5,505
• Est. tax owed @ 24.0%: −$1,321
• After-tax cash flow: $4,802/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: Rankin County School District
• NCES district ID: 2803830
• Math proficiency: 56% ▼ -4.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $61,867
• Composite: 45.62/100
• National rank: #2587
• State rank: #6 of 130 in MS

Livability — Richland

• Score: 64/100
• State rank: #125
• US rank: #13704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,786
• Population (ZIP): 21,626

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 16% Hispanic / Latino 4% Native American 2% Two or more races 2%
• Common ancestry: Italian 4% Serbian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.07%
• Current HPI: 188.3466
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-48.0% since first listed

22 events — show timeline

• 2026-05-14 Relisted — MLSU
• 2026-05-14 Price Changed $65,000 MLSU
• 2026-04-10 Relisted — MLSU
• 2026-03-20 Pending — MLSU
• 2026-03-20 Listing Removed — MLSU
• 2026-02-12 Listed $75,000 MLSU
• 2025-03-19 Relisted — MLSU
• 2025-03-11 Pending — MLSU
• 2025-03-11 Listing Removed — MLSU
• 2025-02-03 Relisted — MLSU
• 2024-01-03 Relisted — MLSU
• 2023-12-30 Listing Removed — MLSU
• 2023-11-15 Price Changed $100,000 MLSU
• 2023-11-01 Relisted — MLSU
• 2023-09-28 Pending — MLSU
• 2023-09-28 Listing Removed — MLSU
• 2023-09-28 Relisted — MLSU
• 2023-09-13 Listing Removed — MLSU
• 2023-06-30 Relisted — MLSU
• 2023-03-30 Pending — MLSU
• 2023-01-20 Price Changed $115,000 MLSU
• 2022-11-14 Listed $125,000 MLSU

Property tax history

+3.0%/yr

Latest (2025): $1,052 · +2.4% YoY. Source: county tax records.