137 Anderson St

Quitman, MS 39355

$102,500B+

4 bd · 1.0 ba · 2,264 sqft · Built 1955 · SingleFamily · Active · 587 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,296/mo
• Mortgage (P&I): −$538
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $363/mo
• Annual: $4,358/yr
• Cap rate: 10.54%
• Cash-on-cash: 15.19%
• DSCR: 1.68
• 1% rule: 1.26%
• Cash to close: $28,700

Investor read

• This is a 4-bed/1.0-bath single-family listed at $102k.
• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• It's been on market 587 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• In year one you build about $156 of equity ($709 loan paydown + $-553 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: schools F, amenities F, commute 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.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $48k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 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 587 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.