520 E Choctaw St · Magee, MS 39111

$79,900

3 bd · 2.0 ba · 1,032 sqft · SingleFamily public records · 158 Days on market

Built 1965 0.29 ac lot $77/sqft · 39% below area Est $131k · 39% under

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Why this score? — see what drove the B 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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.0/10.0
• Appreciation +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

3 Br 2 Ba cottage located cross the road from Magee Schools. All electric with central heating and cooling in 1032 sq. ft.. All she needs is a little TLC. Will not go FHA, VA or USDA financing.

Key facts

• 0.29 acre lot
• Parking
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.6% in Magee — 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 (#158 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Magee Elementary School (math 16% / reading 22%, grade F, #251 of 375 statewide, top 67%, 504 students, 99% FRL); Magee Middle School (math 14% / reading 21%, grade F, #123 of 179 statewide, top 69%, 325 students, 99% FRL); Magee High School (math 8% / reading 8%, grade F, #184 of 197 statewide, top 94%, 405 students, 99% FRL) — zoned schools average 99% FRL vs 76% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 75 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($552 loan paydown + $2k appreciation (2.9% local appreciation)).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 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 1965 — 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 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?
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. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 7.0

CMA / ARV

• ARV (median comp): $130,631
• List price: $79,900
• Delta: -38.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 NE 3rd St	0.33mi	3/2.0	1,106 (+7%)	4mo	$129,900	$117	69
219 SE 7th Ave	0.20mi	3/1.0	1,100 (+7%)	13mo	$130,000	$118	65
512 SW 2nd St	0.66mi	3/2.0	1,093 (+6%)	7mo	$179,900	$165	54
302 SW 4th Ave	0.64mi	2/1.0 (-1)	995 (-4%)	14mo	$129,900	$131	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.04×
• Total profit: $23,238
• Equity at exit: $35,481

10-year hold

• IRR: 19.8%
• Equity multiple: 3.84×
• Total profit: $63,604
• Equity at exit: $54,337

Cash invested: $22,372 (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 39111

• Home prices YoY: 1.8%
• Active inventory: 75
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$82 /mo · $983/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $220

Break-even live

Break-even rent $676

Max offer price $79,900

Occupancy floor 72%

Sensitivity live

Price	-10% $265	-5% $243	+0% $220	+5% $198	+10% $175
Rent	-10% $145	-5% $183	+0% $220	+5% $258	+10% $296
Rate	-1.0pp $260	-0.5pp $241	base $220	+0.5pp $200	+1.0pp $178

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $79,900 Active 158 DOM
2. 2026-06-21
   days on market $79,900 Active 157 DOM
3. 2026-06-18
   days on market $79,900 Active 155 DOM
4. 2026-06-17
   days on market $79,900 Active 154 DOM
5. 2026-06-16
   days on market $79,900 Active 153 DOM
6. 2026-06-15
   days on market $79,900 Active 152 DOM
7. 2026-06-13
   days on market $79,900 Active 150 DOM
8. 2026-06-12
   days on market $79,900 Active 149 DOM
9. 2026-06-09
   days on market $79,900 Active 146 DOM
10. 2026-06-08
    days on market $79,900 Active 145 DOM
11. 2026-06-07
    days on market $79,900 Active 144 DOM
12. 2026-06-07
    days on market $79,900 Active 143 DOM
13. 2026-06-04
    days on market $79,900 Active 140 DOM
14. 2026-06-02
    days on market $79,900 Active 139 DOM
15. 2026-06-01
    days on market $79,900 Active 138 DOM
16. 2026-05-31
    days on market $79,900 Active 137 DOM
17. 2026-01-14
    listed $79,900 Active 194-char remark

    Show marketing remark (194 chars)

    3 Br 2 Ba cottage located cross the road from Magee Schools. All electric with central heating and cooling in 1032 sq. ft.. All she needs is a little TLC. Will not go FHA, VA or USDA financing.

18. 2025-03-31
    historical
19. 2024-03-07
    listed $79,900 Active
20. 2008-06-11
    soldstatus

ⓘ 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: $983 · $82/mo
• Projected year-2 tax: $983 · $82/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 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: $11,460
• − Mortgage interest: −$4,476
• − Property taxes: −$983
• − Insurance: −$400
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$2,324
• Taxable income: $1,444
• Est. tax owed @ 24.0%: −$347
• After-tax cash flow: $2,296/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: Simpson County School District
• NCES district ID: 2803990
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,826
• Composite: 17.46/100
• National rank: #9063
• State rank: #90 of 130 in MS

Livability — Magee

• Score: 63/100
• State rank: #158
• US rank: #15438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Magee, MS
• Population (ZIP): 8,927

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 26,197 people
• By 2030: 25,474 · -2.8%
• By 2040: 23,811 · -9.1%
• By 2050: 22,024 · -15.9%
• By 2075: 17,701 · -32.4%
• By 2100: 13,732 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 28% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+36.7) · D 31.4% · R 68.1%
• 2008→2024 swing: -14.3pp toward R · 2008: -22.4pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+30.4 2016: R+30.9 2012: R+22.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 161.8264
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

4 events — show timeline

• 2026-01-14 Listed $79,900 MLSU
• 2025-03-31 Listing Removed — MLSU
• 2024-03-07 Listed $79,900 MLSU
• 2008-06-11 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $983 · +2.6% YoY. Source: county tax records.