4497 E Star Landing Rd

Bridgetown, MS 38651

$320,000F

3 bd · 2.0 ba · 1,599 sqft · Built 1993 · SingleFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,928/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $-409/mo
• Annual: $-4,910/yr
• Cap rate: 4.76%
• Cash-on-cash: -5.48%
• DSCR: 0.76
• 1% rule: 0.60%
• Cash to close: $89,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $320k.
• At list price, monthly cash flow is $-409 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (39.8% below list).
• It's been on market 94 days — a 9% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (39.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#72 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Desoto County School District (suburban): math 48% / reading 42% proficiency, ranked #20 of 130 in MS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lewisburg Primary (582 students, 100% FRL); Lewisburg Middle (math 83% / reading 56%, grade A, #1 of 179 statewide, top 0%, 1,031 students, 100% FRL); Lewisburg High School (math 70% / reading 58%, grade B-, #4 of 197 statewide, top 2%, 1,275 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 67% at this address vs 45% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Desoto County School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 122 active listings in the ZIP; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• DeSoto County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 4.8% vs local median 2.9% in Bridgetown — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.
• 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.