2705 Drummond St · Vicksburg, MS 39180

$15,000

3 bd · 1.0 ba · 1,245 sqft · SingleFamily · 613 Days on market

Built 1891 7,405 sqft lot $12/sqft · 88% below area ↓ 25% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

Key facts

• Prime location
• 7,405 sq ft lot
• Built 1891

Tags

• PRIME LOCATION
• CLOSE TO HISTORICAL LANDMARKS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• Cap rate 98.0% vs local median 4.5% in Vicksburg — 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 63/100 on livability (#166 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, crime F, amenities F.
• Vicksburg Warren School District (rural): math 22% / reading 26% proficiency, ranked #82 of 130 in MS (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 12 units permitted in Warren County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Warren County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 613 days — a 12% lower offer ($13k) 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.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 613 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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 F 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: 10.54% ✓
• Cap rate: 97.96%
• Cash-on-cash: 327.38%
• DSCR: 15.57
• GRM: 0.8

CMA / ARV

• ARV (median comp): $120,304
• List price: $15,000
• Delta: -87.53%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2413 Cherry St	0.22mi	2/1.0 (-1)	1,198 (-4%)	9mo	$59,999	$50	71
1603 Marcus St	0.43mi	2/1.0 (-1)	1,359 (+9%)	15mo	$19,950	$15	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 17.80×
• Total profit: $70,572
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 38.03×
• Total profit: $155,522
• Equity at exit: $1,297

Cash invested: $4,200 (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 39180

• Home prices YoY: -28.2%
• Active inventory: 135
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,582 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $1,146

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 23%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1711 Cherry St Vicksburg, MS	2.0	1.0	1481	$1,800	$1.22	23d	1	0.86mi
1301 Washington St Vicksburg, MS	2.0	1.0–2.0	775	$2,400	$3.10	43d	1	1.17mi

Listing history 27 events

1. 2026-06-19
   days on market $15,000 Active 613 DOM
2. 2026-06-18
   days on market $15,000 Active 612 DOM
3. 2026-06-17
   days on market $15,000 Active 611 DOM
4. 2026-06-16
   days on market $15,000 Active 610 DOM
5. 2026-06-15
   days on market $15,000 Active 609 DOM
6. 2026-06-14
   days on market $15,000 Active 607 DOM
7. 2026-06-12
   days on market $15,000 Active 606 DOM
8. 2026-06-09
   days on market $15,000 Active 603 DOM
9. 2026-06-08
   days on market $15,000 Active 602 DOM
10. 2026-06-07
    days on market $15,000 Active 601 DOM
11. 2026-06-05
    days on market $15,000 Active 598 DOM
12. 2026-06-02
    days on market $15,000 Active 596 DOM
13. 2026-06-01
    days on market $15,000 Active 595 DOM
14. 2026-05-31
    days on market $15,000 Active 594 DOM
15. 2026-05-30
    days on market $15,000 Active 593 DOM
16. 2026-01-02
    status Active 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

17. 2025-12-31
    historical 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

18. 2025-09-02
    status Active 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

19. 2025-08-31
    historical 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

20. 2025-07-09
    status Active 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

21. 2025-06-30
    historical 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

22. 2024-10-02
    listed $15,000 Active 326-char remark

    Show marketing remark (326 chars)

    This is a fantastic opportunity to get a Downtown Historic building site with great potential for development and investment. Investors will likely be interested in the prime location and the potential for future development this prime location ,close to historical landmarks ,and cultural events. zone for commercial C1

23. 2024-08-31
    historical
24. 2024-05-14
    listed $15,000 Active
25. 2024-04-01
    historical
26. 2024-02-08
    price $18,000
27. 2023-12-12
    listed $20,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $18,980
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$436
• Taxable income: $14,366
• Est. tax owed @ 24.0%: −$3,448
• After-tax cash flow: $10,302/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: Vicksburg Warren School District
• NCES district ID: 2804470
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $40,492
• Composite: 20.31/100
• National rank: #8612
• State rank: #82 of 130 in MS

Livability — Vicksburg

• Score: 63/100
• State rank: #166
• US rank: #16032

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vicksburg, MS
• County: Warren County · 28,479 people
• City population: 28,479
• Metro: Vicksburg, MS
• Population (ZIP): 28,479
• Household income: $56,837
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 665.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 45,473 people
• By 2030: 44,051 · -3.1%
• By 2040: 40,884 · -10.1%
• By 2050: 37,596 · -17.3%
• By 2075: 30,162 · -33.7%
• By 2100: 23,585 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (51%)
• Race & ethnicity: Black 51% White 44% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.5% · R 51.4% · Other 1.1%
• 2008→2024 swing: -0.9pp no change · 2008: -3.0pp · 2024: -4.0pp
• All cycles: 2024: R+4.0 2020: D+0.4 2016: R+4.9 2012: D+2.6 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.49%
• Current HPI: 154.033
• Rent YoY: —
• Metro: Vicksburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-25.0% since first listed

12 events — show timeline

• 2026-01-02 Relisted — MLSU
• 2025-12-31 Listing Removed — MLSU
• 2025-09-02 Relisted — MLSU
• 2025-08-31 Listing Removed — MLSU
• 2025-07-09 Relisted — MLSU
• 2025-06-30 Listing Removed — MLSU
• 2024-10-02 Listed $15,000 MLSU
• 2024-08-31 Listing Removed — MLSU
• 2024-05-14 Listed $15,000 MLSU
• 2024-04-01 Listing Removed — MLSU
• 2024-02-08 Price Changed $18,000 MLSU
• 2023-12-12 Listed $20,000 MLSU

Property tax history

+248.5%/yr

Latest (2025): $9,736 · +4131.1% YoY. Source: county tax records.