4607 N Harper Rd · Corinth, MS 38834

$149,900

4 bd · 1.0 ba · 992 sqft · SingleFamily public records · 83 Days on market

Built 1968 0.40 ac lot $151/sqft · 60% above area Est $141k · 7% over

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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 +13.7/30.0
• ARV discount +4.5/15.0
• DSCR +4.1/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this excellent income-producing property located in the heart of Corinth! This spacious 4-bedroom, 3-bath home is currently rented, making it a turnkey investment for anyone looking to expand their portfolio or step into rental ownership with immediate cash flow. With a functional layout and generous living space, this property appeals to long-term tenants seeking comfort and convenience. The multiple bedrooms and three full baths offer flexibility for families or shared living arrangements, increasing rental stability and demand.

Key facts

• 0.4 acre lot
• Built 1968
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $11 ($138/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 $116k (22.4% below list).
• Recommended offer: $116k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.7% in Corinth — 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 61/100 on livability (#187 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D-, amenities F.
• Corinth School District (town): math 35% / reading 36% proficiency, ranked #56 of 130 in MS (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 193 active listings in the ZIP; 13 units permitted in Alcorn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alcorn County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,258 (22.4% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (median comp): $140,521
• List price: $149,900
• Delta: 6.67%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-23,621
• Equity at exit: $22,351

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-19,878
• Equity at exit: $12,961

Cash invested: $41,972 (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 38834

• Active inventory: 193
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$58 /mo · $701/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $11

Break-even live

Break-even rent $1,148

Max offer price $149,900

Occupancy floor 94%

Sensitivity live

Price	-10% $96	-5% $54	+0% $11	+5% $-31	+10% $-73
Rent	-10% $-80	-5% $-34	+0% $11	+5% $57	+10% $103
Rate	-1.0pp $87	-0.5pp $50	base $11	+0.5pp $-27	+1.0pp $-67

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $149,900 Active 83 DOM
2. 2026-06-21
   days on market $149,900 Active 82 DOM
3. 2026-06-18
   days on market $149,900 Active 80 DOM
4. 2026-06-17
   days on market $149,900 Active 79 DOM
5. 2026-06-16
   days on market $149,900 Active 78 DOM
6. 2026-06-15
   days on market $149,900 Active 77 DOM
7. 2026-06-13
   days on market $149,900 Active 75 DOM
8. 2026-06-12
   days on market $149,900 Active 74 DOM
9. 2026-06-09
   days on market $149,900 Active 71 DOM
10. 2026-06-08
    days on market $149,900 Active 70 DOM
11. 2026-06-07
    days on market $149,900 Active 69 DOM
12. 2026-06-07
    days on market $149,900 Active 68 DOM
13. 2026-06-04
    days on market $149,900 Active 65 DOM
14. 2026-06-02
    days on market $149,900 Active 64 DOM
15. 2026-06-01
    days on market $149,900 Active 63 DOM
16. 2026-05-31
    days on market $149,900 Active 62 DOM
17. 2026-03-30
    listed $149,900 Active 547-char remark

    Show marketing remark (547 chars)

    Don't miss this excellent income-producing property located in the heart of Corinth! This spacious 4-bedroom, 3-bath home is currently rented, making it a turnkey investment for anyone looking to expand their portfolio or step into rental ownership with immediate cash flow. With a functional layout and generous living space, this property appeals to long-term tenants seeking comfort and convenience. The multiple bedrooms and three full baths offer flexibility for families or shared living arrangements, increasing rental stability and demand.

18. 2023-07-25
    soldstatus
19. 2023-05-05
    listed $95,000

ⓘ 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: $701 · $58/mo
• Projected year-2 tax: $1,184 · $99/mo
• Expected delta: +$483/yr (+$40/mo · 68.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $13,951
• − Mortgage interest: −$8,397
• − Property taxes: −$701
• − Insurance: −$750
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$4,361
• Taxable loss: −$2,489
• Est. tax savings @ 24.0%: +$597
• After-tax cash flow: $735/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: Corinth School District
• NCES district ID: 2801260
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $31,709
• Composite: 29.02/100
• National rank: #6611
• State rank: #56 of 130 in MS

Livability — Corinth

• Score: 61/100
• State rank: #187
• US rank: #17369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corinth, MS
• City population: 27,146
• Population (ZIP): 27,146

Population outlook (Alcorn County) Hauer SSP2

• Today (2025): 38,392 people
• By 2030: 38,804 · +1.1%
• By 2040: 39,455 · +2.8%
• By 2050: 39,708 · +3.4%
• By 2075: 39,917 · +4.0%
• By 2100: 37,628 · -2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Alcorn

• 2024 margin: Solid R (+68.3) · D 15.4% · R 83.8%
• 2008→2024 swing: -24.4pp toward R · 2008: -44.0pp · 2024: -68.3pp
• All cycles: 2024: R+68.3 2020: R+63.5 2016: R+61.8 2012: R+51.6 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.19%
• Current HPI: 155.736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+57.8% since first listed

3 events — show timeline

• 2026-03-30 Listed $149,900 NEMSBD
• 2023-07-25 Sold (MLS) — NEMSBD
• 2023-05-05 Listed $95,000 NEMSBD

Property tax history

+12.7%/yr

Latest (2025): $701 · +23.7% YoY. Source: county tax records.