506 Main St · New Houlka, MS 38850

$125,900

3 bd · 2.0 ba · 1,710 sqft · SingleFamily public records · 6 Days on market

Built 1920 0.25 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 +18.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• DSCR +5.7/10.0
• Schools +5.0/10.0
• 1% rule +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large 3 bed/2 full bath home on a corner lot of Main Street in Houlka. The home has had several floor-to-ceiling renovations done less than 5 years ago. With a large front porch, several points of entry and even an enclosed back porch, this home is move in ready and only needs a little updating to be NICE! All information is deemed reliable but subject to verification.

Key facts

• 0.25 acre lot
• Built 1920
• Listed 6 days

Property features AI

Finance

• Financial info: Annual tax approximately $850

Exterior

• Home design: Single-family residential (Traditional); 1 story
• Exterior features: Metal roof; Lot dimensions approximately 132 x 78; Lot size approximately 0.25 acre

Interior

• Kitchen: Disposal; Microwave; Range
• Bedrooms: Data not provided
• Bathrooms: 2 full bathrooms
• Interior features: Disposal; Microwave; Range; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/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 $113k (10.1% below list).
• Recommended offer: $113k (10.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#272 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Market conditions: 11 active listings in the ZIP; 7 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($870 loan paydown + $4k appreciation (2.9% local appreciation)).
• Chickasaw County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,158 (10.1% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.84%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.62×
• Total profit: $21,730
• Equity at exit: $55,981

10-year hold

• IRR: 13.1%
• Equity multiple: 2.93×
• Total profit: $67,982
• Equity at exit: $85,787

Cash invested: $35,252 (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 38850

• Home prices YoY: 2.1%
• Active inventory: 11
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,132 medium
• Mortgage (P&I): −$660
• Tax from tax record: −$68 /mo · $820/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $113

Break-even live

Break-even rent $989

Max offer price $125,900

Occupancy floor 85%

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: $31,475
• Closing costs: $3,777
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-01
   statusdays on market $125,900 Pending 6 DOM
2. 2026-04-30
   listed $125,900 Active
3. 2026-01-23
   listed $141,500 Active
4. 2024-05-31
   soldstatus Closed

   Show marketing remark (371 chars)

   Large 3 bed/2 full bath home on a corner lot of Main Street in Houlka. The home has had several floor-to-ceiling renovations done less than 5 years ago. With a large front porch, several points of entry and even an enclosed back porch, this home is move in ready and only needs a little updating to be NICE! All information is deemed reliable but subject to verification.

5. 2024-02-20
   price $83,000

   Show marketing remark (371 chars)

   Large 3 bed/2 full bath home on a corner lot of Main Street in Houlka. The home has had several floor-to-ceiling renovations done less than 5 years ago. With a large front porch, several points of entry and even an enclosed back porch, this home is move in ready and only needs a little updating to be NICE! All information is deemed reliable but subject to verification.

6. 2023-12-05
   listed $87,500 Active

   Show marketing remark (371 chars)

   Large 3 bed/2 full bath home on a corner lot of Main Street in Houlka. The home has had several floor-to-ceiling renovations done less than 5 years ago. With a large front porch, several points of entry and even an enclosed back porch, this home is move in ready and only needs a little updating to be NICE! All information is deemed reliable but subject to verification.

ⓘ 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: $820 · $68/mo
• Projected year-2 tax: $995 · $83/mo
• Expected delta: +$175/yr (+$15/mo · 21.3%)

ⓘ 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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,579
• − Mortgage interest: −$7,052
• − Property taxes: −$820
• − Insurance: −$630
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$3,663
• Taxable loss: −$758
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $1,537/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)

No district data.

Livability — New Houlka

• Score: 58/100
• State rank: #272
• US rank: #21346

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

• Census place: New Houlka, MS
• Population (ZIP): 3,113

Population outlook (Chickasaw County) Hauer SSP2

• Today (2025): 17,070 people
• By 2030: 16,849 · -1.3%
• By 2040: 16,419 · -3.8%
• By 2050: 15,899 · -6.9%
• By 2075: 14,445 · -15.4%
• By 2100: 12,062 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 29% Hispanic / Latino 6% Two or more races 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Chickasaw

• 2024 margin: R (+13.7) · D 42.7% · R 56.4%
• 2008→2024 swing: -15.8pp toward R · 2008: 2.1pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+4.5 2016: R+6.1 2012: D+4.1 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.91%
• Current HPI: 141.0144
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+43.9% since first listed

6 events — show timeline

• 2026-06-01 Pending — NEMSBD
• 2026-04-30 Listed $125,900 NEMSBD
• 2026-01-23 Listed $141,500 NEMSBD
• 2024-05-31 Sold (MLS) — NEMSBD
• 2024-02-20 Price Changed $83,000 NEMSBD
• 2023-12-05 Listed $87,500 NEMSBD

Property tax history

+0.4%/yr

Latest (2025): $820 · -1.6% YoY. Source: county tax records.