213 Chestnut Ave · Hattiesburg, MS 39401

$114,500

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 46 Days on market

Built 1943 5,035 sqft lot

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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 +28.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Precious 3BR/1BA home that has been updated by seller. Immediate vicinity of William Carey University. Could be cute rental for students. Information gathered from Tax Roll, Seller, and public sources. Buyer/Buyer's Agent to verify all information provided. Must have appointment to show. NO SHOWINGTIME APPOINTMENTS. Call listing office.

Key facts

• 5,035 sq ft lot
• Built 1943
• Listed 46 days

Property features AI

Exterior

• Parking: Attached carport; Driveway; No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story; Residential property; Located in the Garden Place subdivision
• Construction: Wood siding; Foam insulation; Raised foundation; Composition roof
• Exterior features: Covered patio/porch; Level lot; Lot dimensions approximately 53 x 95

Interior

• Flooring: Wood flooring; Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fan(s); Window coverings; Wood window frames

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.0% in Hattiesburg — 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 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment F.
• Hattiesburg Public School District (urban): math 25% / reading 26% proficiency, ranked #81 of 130 in MS (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 261 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• This rent runs 40% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $792 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $111,065 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.69%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.56% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.31×
• Total profit: $9,809
• Equity at exit: $17,072

10-year hold

• IRR: 19.6%
• Equity multiple: 2.90×
• Total profit: $60,921
• Equity at exit: $9,900

Cash invested: $32,060 (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 39401

• Rents YoY: 6.6%
• Active inventory: 261
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$600
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $366

Break-even live

Break-even rent $909

Max offer price $114,500

Occupancy floor 68%

Sensitivity live

Price	-10% $431	-5% $398	+0% $366	+5% $333	+10% $301
Rent	-10% $257	-5% $312	+0% $366	+5% $420	+10% $474
Rate	-1.0pp $423	-0.5pp $395	base $366	+0.5pp $336	+1.0pp $306

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 W Pine St Hattiesburg, MS	1.0–2.0	1.0–1.5	930	$1,200	$1.29	22d	1	1.04mi
112 Dearborne St Unit B Hattiesburg, MS	2.0	2.0	1000	$1,450	$1.45	22d	1	1.41mi
112 Dearborne St Unit A Hattiesburg, MS	2.0	1.0	1000	$1,450	$1.45	22d	1	1.41mi

Listing history 9 events

1. 2026-05-01
   status Pending
2. 2026-04-14
   price $114,500
3. 2026-04-10
   price $114
4. 2026-03-16
   listed $114,900 Active
5. 2023-04-26
   soldstatus
6. 2023-04-21
   soldstatus Closed 338-char remark

   Show marketing remark (338 chars)

   Precious 3BR/1BA home that has been updated by seller. Immediate vicinity of William Carey University. Could be cute rental for students. Information gathered from Tax Roll, Seller, and public sources. Buyer/Buyer's Agent to verify all information provided. Must have appointment to show. NO SHOWINGTIME APPOINTMENTS. Call listing office.

7. 2023-04-13
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Precious 3BR/1BA home that has been updated by seller. Immediate vicinity of William Carey University. Could be cute rental for students. Information gathered from Tax Roll, Seller, and public sources. Buyer/Buyer's Agent to verify all information provided. Must have appointment to show. NO SHOWINGTIME APPOINTMENTS. Call listing office.

8. 2023-03-27
   listed $69,900 Active 338-char remark

   Show marketing remark (338 chars)

   Precious 3BR/1BA home that has been updated by seller. Immediate vicinity of William Carey University. Could be cute rental for students. Information gathered from Tax Roll, Seller, and public sources. Buyer/Buyer's Agent to verify all information provided. Must have appointment to show. NO SHOWINGTIME APPOINTMENTS. Call listing office.

9. 2017-01-10
   listed $36,500

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$63/yr (+$5/mo · 7.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $16,467
• − Mortgage interest: −$6,414
• − Property taxes: −$841
• − Insurance: −$572
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$3,331
• Taxable income: $2,673
• Est. tax owed @ 24.0%: −$642
• After-tax cash flow: $3,748/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: Hattiesburg Public School District
• NCES district ID: 2801800
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $28,058
• Composite: 20.38/100
• National rank: #8595
• State rank: #81 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hattiesburg, MS
• County: Forrest County · 65,413 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 42,531
• Household income: $41,127
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 2534.0

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 52% White 40% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -148.93%
• Current HPI: 137.87
• Rent YoY: ▲ 6.56%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+213.7% since first listed

9 events — show timeline

• 2026-05-01 Pending — HAAR
• 2026-04-14 Price Changed $114,500 HAAR
• 2026-04-10 Price Changed $114 HAAR
• 2026-03-16 Listed $114,900 HAAR
• 2023-04-26 Sold (Public Records) — Public Records
• 2023-04-21 Sold (MLS) — HAAR
• 2023-04-13 Pending — HAAR
• 2023-03-27 Listed $69,900 HAAR
• 2017-01-10 Listed $36,500 HAAR

Property tax history

+6.7%/yr

Latest (2025): $841 · +20.2% YoY. Source: county tax records.