112 County Road 662

Quitman, MS 39355

$95,000C-

2 bd · 1.0 ba · 1,034 sqft · Built 1965 · SingleFamily · Pending · 143 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $952/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$131
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $123/mo
• Annual: $1,477/yr
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• 1% rule: 1.00%
• Cash to close: $26,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $95k).
• It's been on market 143 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• In year one you build about $145 of equity ($657 loan paydown + $-512 appreciation (-0.5% local appreciation)).
• Location reads 63/100 on livability (#153 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Quitman School District (rural): math 13% / reading 18% proficiency, ranked #106 of 130 in MS (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Quitman Lower Elementary School (464 students, 100% FRL); Quitman Jr High School (math 8% / reading 13%, grade F, #151 of 179 statewide, top 84%, 329 students, 100% FRL); Quitman High School (math 17% / reading 22%, grade F, #130 of 197 statewide, top 68%, 491 students, 100% FRL) — zoned schools average 100% FRL vs 80% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 14 active listings in the ZIP.
• Clarke County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 13y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $95k implies a 157% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% 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.

Questions for listing agent

• It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.