6 Ledbetter Dr

Purvis, MS 39475

$169,900D

3 bd · 1.0 ba · 999 sqft · Built 1960 · Other · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,337/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $43/mo
• Annual: $513/yr
• Cap rate: 6.59%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• 1% rule: 0.79%
• Cash to close: $47,572

Investor read

• This is a 3-bed/1.0-bath other listed at $170k.
• At list price, monthly cash flow is $43 ($513/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 $134k (21.3% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $134k (21.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#14 in MS, #4,557 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Lamar County School District (rural): math 48% / reading 46% proficiency, ranked #18 of 130 in MS (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Purvis Lower Elementary (454 students, 99% FRL); Purvis Middle School (math 45% / reading 37%, grade F, #56 of 179 statewide, top 33%, 383 students, 99% FRL); Purvis High School (math 27% / reading 42%, grade F, #68 of 197 statewide, top 39%, 620 students, 100% FRL) — zoned schools average 99% FRL vs 43% district-wide (57 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 107 active listings in the ZIP; 45 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).
• Lamar County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; 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

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.