119 Essen Ln · Gluckstadt, MS 39110

$328,000

3 bd · 2.0 ba · 1,759 sqft · SingleFamily public records · 11 Days on market

Built 2016 9,583 sqft lot Est $318k · at est. $37/mo HOA · 1% of rent

---

Why this score? — see what drove the D- 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 +12.6/30.0
• ARV discount +6.1/15.0
• Schools +4.8/10.0
• DSCR +3.8/10.0
• Rent growth +3.2/5.0
• 1% rule +3.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This gorgeous home has an open concept layout and split floor plan. The house has plenty of extra features like a privacy fence,an extra large back patio, and gutters. It is practically new, as the house has been incredibly well maintained. Contact a Realtor today because this house will not be available for long.

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 2016

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $328k.

Deal economics

• At list price, monthly cash flow is $-40 ($-482/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (18.5% below list).
• Recommended offer: $267k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.9% in Gluckstadt — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mannsdale Elementary (633 students, 100% FRL); Germantown Middle School (math 55% / reading 58%, grade B, #14 of 179 statewide, top 7%, 1,008 students, 100% FRL); Germantown High School (math 34% / reading 41%, grade F, #59 of 197 statewide, top 30%, 1,396 students, 100% FRL) — zoned schools average 100% FRL vs 29% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 634 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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

• Climate carrying-cost: major wind risk, 76% 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 $267,185 (18.5% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.81% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $318,379
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Lakeway Dr	0.22mi	3/2.0	1,771 (+1%)	3mo	$310,000	$175	86
132 Hanover St	0.27mi	3/2.0	1,776 (+1%)	1mo	$328,500	$185	85
181 Stillhouse Creek Dr	0.20mi	3/2.0	1,687 (-4%)	2mo	$315,000	$187	82
130 Hanover St	0.26mi	3/2.0	1,704 (-3%)	1mo	$324,000	$190	81
106 Muirfield Pl	0.33mi	3/2.0	1,825 (+4%)	3mo	$290,000	$159	76
137 Owen St	0.38mi	3/2.0	1,822 (+4%)	1mo	$328,000	$180	76
200 Lakeway Dr	0.06mi	3/2.0	1,497 (-15%)	2mo	$295,000	$197	71
105 Owen St	0.32mi	3/2.0	1,906 (+8%)	1mo	$340,000	$178	70
104 Stillhollow Ln	0.48mi	3/2.0	1,690 (-4%)	2mo	$329,900	$195	69
154 Millhouse Dr	0.34mi	3/2.0	1,576 (-10%)	2mo	$285,000	$181	65
224 Stillhouse Creek Dr	0.38mi	4/2.0 (+1)	1,914 (+9%)	3mo	$340,000	$178	60
112 Federal Cv	0.52mi	4/2.0 (+1)	1,899 (+8%)	1mo	$329,900	$174	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-56,783
• Equity at exit: $48,906

10-year hold

• IRR: -10.4%
• Equity multiple: 0.38×
• Total profit: $-57,117
• Equity at exit: $28,359

Cash invested: $91,840 (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 39110

• Home prices YoY: -28.3%
• Rents YoY: 2.6%
• Active inventory: 634
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,672 high
• Mortgage (P&I): −$1,720
• Tax from tax record: −$257 /mo · $3,086/yr
• Insurance: −$137
• HOA: −$37
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-40

Break-even live

Break-even rent $2,723

Max offer price $320,906

Occupancy floor 96%

Sensitivity live

Price	-10% $146	-5% $53	+0% $-40	+5% $-133	+10% $-226
Rent	-10% $-251	-5% $-146	+0% $-40	+5% $65	+10% $171
Rate	-1.0pp $125	-0.5pp $43	base $-40	+0.5pp $-125	+1.0pp $-212

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: $82,000
• Closing costs: $9,840
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 Millhouse Dr Madison, MS	3.0	2.0	1550	$2,395	$1.55	15d	1	0.14mi
173 Clearview Dr W Madison, MS	3.0	2.0	1750	$2,473	$1.41	15d	1	0.28mi
132 Hanover St Madison, MS	3.0	2.0	1776	$2,650	$1.49	15d	1	0.31mi
140 Millhouse Dr Madison, MS	3.0	2.0	1411	$2,400	$1.70	23d	1	0.33mi
104 Fairwind Way Madison, MS	3.0	2.0	1557	$3,000	$1.93	45d	1	0.33mi
145 Stillhouse Creek Dr Madison, MS	3.0	2.0	1755	$2,600	$1.48	45d	1	0.35mi
212 Stillhouse Creek Dr Madison, MS	3.0	2.0	1856	$2,900	$1.56	15d	1	0.36mi
138 Owen St Madison, MS	3.0	2.0	1824	$2,900	$1.59	25d	1	0.45mi
112 Copper Ridge Ct Madison, MS	3.0	2.0	1600	$2,495	$1.56	15d	1	0.50mi

HOA detail

• Monthly dues: $37 · $444/yr

Listing history 13 events

1. 2026-06-21
   days on market $328,000 Active 11 DOM
2. 2026-06-18
   days on market $328,000 Active 8 DOM
3. 2026-06-18
   remarks 174-char remark
4. 2026-06-18
   status $328,000 Active 7 DOM
5. 2026-04-21
   status Pending
6. 2026-04-12
   listed $328,000 Active
7. 2020-04-06
   soldstatus
8. 2020-04-02
   soldstatus 315-char remark

   Show marketing remark (315 chars)

   This gorgeous home has an open concept layout and split floor plan. The house has plenty of extra features like a privacy fence,an extra large back patio, and gutters. It is practically new, as the house has been incredibly well maintained. Contact a Realtor today because this house will not be available for long.

9. 2020-03-13
   listed $247,900 315-char remark

   Show marketing remark (315 chars)

   This gorgeous home has an open concept layout and split floor plan. The house has plenty of extra features like a privacy fence,an extra large back patio, and gutters. It is practically new, as the house has been incredibly well maintained. Contact a Realtor today because this house will not be available for long.

10. 2018-06-05
    listed $2,300
11. 2018-06-05
    historical
12. 2016-04-15
    soldstatus
13. 2016-01-19
    listed $231,000

ⓘ 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: $3,086 · $257/mo
• Projected year-2 tax: $3,086 · $257/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $32,062
• − Mortgage interest: −$18,373
• − Property taxes: −$3,086
• − Insurance: −$1,640
• − Repairs & maintenance: −$2,565
• − Management: −$2,565
• − HOA: −$444
• − Depreciation: −$9,542
• Taxable loss: −$6,153
• Est. tax savings @ 24.0%: +$1,477
• After-tax cash flow: $995/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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Gluckstadt

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Madison County · 75,005 people
• Metro: Jackson, MS
• Population (ZIP): 50,443
• Household income: $125,506
• Rent vs Own: 9.1% rent · 90.9% own
• Severe rent burden: 227.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Asian 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.99%
• Current HPI: 154.6909
• Rent YoY: ▲ 2.61%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+42.0% since first listed

9 events — show timeline

• 2026-04-21 Pending — MLSU
• 2026-04-12 Listed $328,000 MLSU
• 2020-04-06 Sold (Public Records) — Public Records
• 2020-04-02 Sold (MLS) — MLSU
• 2020-03-13 Listed $247,900 MLSU
• 2018-06-05 Listing Removed — MLSU
• 2018-06-05 Listed $2,300 MLSU
• 2016-04-15 Sold (MLS) — MLSU
• 2016-01-19 Listed $231,000 MLSU

Property tax history

+26.9%/yr

Latest (2025): $3,086 · +0.0% YoY. Source: county tax records.