229-22 Town Center Dr · Oxford, MS 38655

$349,000

4 bd · 1.0 ba · 1,448 sqft · Townhouse public records · 36 Days on market

Built 2011 Good condition

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a 3 story attached townhome with a garage. Come see it before its gone! Photos are not of the actual unit. Unit is completed and ready for showing. Can close ASAP

Key facts

• Pickle ball courts
• Prime location
• Pool

Tags

• SHORT DRIVE FROM OLE MISS
• MULTIPLE COMMUNITY POOLS
• PICKLE BALL COURTS
• WELL-KEPT ENVIRONMENT
• PRIME LOCATION

Property features AI

Finance

• Other: Located in the Rowandale subdivision

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential townhouse; Townhouse/Condo style
• Construction: Brick construction
• Exterior features: Patio; In-ground pool; Subdivision covenant zoning

Interior

• Kitchen: Microwave, Dishwasher, Electric Range, Refrigerator
• Flooring: Carpet; Hardwood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air; Ceiling fan(s)
• Interior features: Microwave, Dishwasher, Electric Range, Refrigerator, Electric Water Heater; Ceiling fan(s); Carpet and hardwood flooring; Central air
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $349k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $275 ($3k/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 $299k (14.2% below list).
• Recommended offer: $299k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 2.8% in Oxford — 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 87/100 on livability (#1 in MS, #285 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-.
• Oxford School District (town): math 53% / reading 49% proficiency, ranked #12 of 130 in MS (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 855 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 503 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• At $2,994/mo this rent would consume 53% of the median local household income ($68k/yr) (locally 1892% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Lafayette County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Recommended offer $299,393 (14.2% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.86% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.85% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-33,506
• Equity at exit: $52,037

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $16,956
• Equity at exit: $30,175

Cash invested: $97,720 (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 38655

• Rents YoY: 4.8%
• Active inventory: 855
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,994 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$114 /mo · $1,373/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $275

Break-even live

Break-even rent $2,646

Max offer price $349,000

Occupancy floor 86%

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Baldwin Dr Oxford, MS	1.0–3.0	1.0–3.0	935	$3,075	$3.29	24d	6	0.38mi
1201 Ivy Rd Oxford, MS	3.0	3.0	1500	$2,700	$1.80	24d	1	0.69mi
814 Claremont Ave Oxford, MS	1.0–3.0	1.0–2.0	1108	$2,655	$2.40	2d	97	0.72mi

Listing history 28 events

1. 2026-06-19
   days on market $349,000 Active 36 DOM
2. 2026-06-18
   price $349,000 Active 35 DOM
3. 2026-06-18
   days on market $360,000 Active 35 DOM
4. 2026-06-17
   days on market $360,000 Active 34 DOM
5. 2026-06-16
   days on market $360,000 Active 33 DOM
6. 2026-06-15
   days on market $360,000 Active 32 DOM
7. 2026-06-14
   days on market $360,000 Active 30 DOM
8. 2026-06-12
   days on market $360,000 Active 29 DOM
9. 2026-06-09
   days on market $360,000 Active 26 DOM
10. 2026-06-08
    days on market $360,000 Active 25 DOM
11. 2026-06-07
    days on market $360,000 Active 24 DOM
12. 2026-06-02
    days on market $360,000 Active 19 DOM
13. 2026-06-01
    days on market $360,000 Active 18 DOM
14. 2026-05-31
    days on market $360,000 Active 17 DOM
15. 2026-05-30
    days on market $360,000 Active 16 DOM
16. 2026-05-14
    listed $360,000 Active 535-char remark
17. 2026-03-27
    historical $3,000
18. 2026-02-25
    price $3,000
19. 2026-02-10
    listed $3,300
20. 2025-05-15
    historical $2,950
21. 2025-05-06
    listed $2,950
22. 2025-05-06
    historical $2,950
23. 2025-05-01
    historical $2,950
24. 2025-05-01
    listed $2,950
25. 2025-04-08
    listed $2,950
26. 2023-09-29
    soldstatus Closed 170-char remark

    Show marketing remark (170 chars)

    This is a 3 story attached townhome with a garage. Come see it before its gone! Photos are not of the actual unit. Unit is completed and ready for showing. Can close ASAP

27. 2023-09-25
    listed $320,000 170-char remark

    Show marketing remark (170 chars)

    This is a 3 story attached townhome with a garage. Come see it before its gone! Photos are not of the actual unit. Unit is completed and ready for showing. Can close ASAP

28. 2023-09-25
    historical 170-char remark

    Show marketing remark (170 chars)

    This is a 3 story attached townhome with a garage. Come see it before its gone! Photos are not of the actual unit. Unit is completed and ready for showing. Can close ASAP

ⓘ 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: $1,373 · $114/mo
• Projected year-2 tax: $2,757 · $230/mo
• Expected delta: +$1,384/yr (+$115/mo · 100.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $35,927
• − Mortgage interest: −$19,549
• − Property taxes: −$1,373
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,874
• − Management: −$2,874
• − Depreciation: −$10,153
• Taxable loss: −$2,642
• Est. tax savings @ 24.0%: +$634
• After-tax cash flow: $3,936/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready townhouse in Rowandale offers a comfortable, low-maintenance lifestyle in a prime location.

Value-add opportunities

• Both Paint exterior brick — Enhances curb appeal and can increase both resale and rental value
• Both Replace window screens — Improves energy efficiency and enhances curb appeal
• Both Upgrade flooring in bathrooms — Modernizes the space and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior brick — Enhances curb appeal and can increase both resale and rental value ↑
• Both Replace window screens — Improves energy efficiency and enhances curb appeal ↑
• Both Upgrade flooring in bathrooms — Modernizes the space and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oxford School District
• NCES district ID: 2803450
• Math proficiency: 53% ▼ -17.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $40,878
• Composite: 42.77/100
• National rank: #3152
• State rank: #12 of 130 in MS

Livability — Oxford

• Score: 87/100
• State rank: #1
• US rank: #285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxford, MS
• County: Lafayette County · 46,156 people
• City population: 46,156
• Metro: Oxford, MS
• Population (ZIP): 46,156
• Household income: $68,235
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 1892.0

Population outlook (Lafayette County) Hauer SSP2

• Today (2025): 66,984 people
• By 2030: 74,726 · +11.6%
• By 2040: 90,806 · +35.6%
• By 2050: 108,114 · +61.4%
• By 2075: 151,215 · +125.7%
• By 2100: 187,997 · +180.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 24% Hispanic / Latino 4% Asian 2% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Lafayette

• 2024 margin: Strong R (+21.8) · D 38.3% · R 60.0% · Other 1.7%
• 2008→2024 swing: -9.4pp toward R · 2008: -12.4pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+12.3 2016: R+14.8 2012: R+15.6 2008: R+12.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.86%
• Current HPI: 211.5486
• Rent YoY: ▲ 4.85%
• Metro: Oxford, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+12.5% since first listed

13 events — show timeline

• 2026-05-14 Listed $360,000 NCMBR
• 2026-03-27 Rental Removed $3,000 SHOWMOJO
• 2026-02-25 Price Changed $3,000 SHOWMOJO
• 2026-02-10 Listed for Rent $3,300 SHOWMOJO
• 2025-05-15 Rental Removed $2,950 SHOWMOJO
• 2025-05-06 Listed for Rent $2,950 SHOWMOJO
• 2025-05-06 Rental Removed $2,950 SHOWMOJO2
• 2025-05-01 Rental Removed $2,950 SHOWMOJO
• 2025-05-01 Listed for Rent $2,950 SHOWMOJO2
• 2025-04-08 Listed for Rent $2,950 SHOWMOJO
• 2023-09-29 Sold (MLS) — NCMBR
• 2023-09-25 Delisted — NCMBR
• 2023-09-25 Listed $320,000 NCMBR

Property tax history

+12.6%/yr

Latest (2025): $1,373 · +20.4% YoY. Source: county tax records.