1046 S Mcgregor St · Wiggins, MS 39577

$165,000

3 bd · 1.0 ba · 1,842 sqft · SingleFamily public records · 28 Days on market

Built 1972 1.90 ac lot $90/sqft · 22% below area Est $211k · 22% under ↓ 6% since listing

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Why this score? — see what drove the C- 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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +4.1/10.0
• 1% rule +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking in South Wiggins! Situated on a corner lot with 2 acres, this 3 bedroom, 2 bath home is packed with potential for the right buyer. Featuring a carport, detached 2-car garage, whole-house generator, a portion of the yard is fenced with a new chain link just over a year old. While the home does need some TLC, it offers the kind of value and upside that investors, flippers, or buyers using a renovation loan are always searching for. With plenty of space to work with and so much possibility to make it shine again, this property is ideal for cash, conventional, or renovation loan buyers looking to turn potential into profit. Don't miss your chance to bring new life to this promising property in Wiggins!

Key facts

• Newer roof
• 2 acres
• Corner lot

Tags

• CORNER LOT
• 2 ACRES
• WHOLE-HOUSE GENERATOR
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/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 $143k (13.6% below list).
• Recommended offer: $143k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.5% in Wiggins — 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 68/100 on livability (#58 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools C-, crime D, amenities F.
• Stone County School District (town): math 52% / reading 46% proficiency, ranked #15 of 130 in MS (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 70 active listings in the ZIP; 60 units permitted in Stone 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 $5k of value loss. Plan a longer hold.
• Stone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $142,529 (13.6% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

• ARV (median comp): $211,299
• List price: $165,000
• Delta: -21.91%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1033 Madsen Ave	0.06mi	3/2.0	1,570 (-15%)	14mo	$245,000	$156	57
640 S Mcgregor St	0.53mi	4/1.0 (+1)	1,674 (-9%)	16mo	$195,000	$116	42

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-18,562
• Equity at exit: $24,602

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-5,822
• Equity at exit: $14,266

Cash invested: $46,200 (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 39577

• Home prices YoY: -30.1%
• Active inventory: 70
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$63 /mo · $750/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $129

Break-even live

Break-even rent $1,261

Max offer price $165,000

Occupancy floor 86%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-07
   price $165,000 731-char remark

   Show marketing remark (731 chars)

   Opportunity is knocking in South Wiggins! Situated on a corner lot with 2 acres, this 3 bedroom, 2 bath home is packed with potential for the right buyer. Featuring a carport, detached 2-car garage, whole-house generator, a portion of the yard is fenced with a new chain link just over a year old. While the home does need some TLC, it offers the kind of value and upside that investors, flippers, or buyers using a renovation loan are always searching for. With plenty of space to work with and so much possibility to make it shine again, this property is ideal for cash, conventional, or renovation loan buyers looking to turn potential into profit. Don't miss your chance to bring new life to this promising property in Wiggins!

2. 2026-04-22
   listed $175,000 Active 731-char remark

   Show marketing remark (731 chars)

   Opportunity is knocking in South Wiggins! Situated on a corner lot with 2 acres, this 3 bedroom, 2 bath home is packed with potential for the right buyer. Featuring a carport, detached 2-car garage, whole-house generator, a portion of the yard is fenced with a new chain link just over a year old. While the home does need some TLC, it offers the kind of value and upside that investors, flippers, or buyers using a renovation loan are always searching for. With plenty of space to work with and so much possibility to make it shine again, this property is ideal for cash, conventional, or renovation loan buyers looking to turn potential into profit. Don't miss your chance to bring new life to this promising property in Wiggins!

ⓘ 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: $750 · $63/mo
• Projected year-2 tax: $1,304 · $109/mo
• Expected delta: +$553/yr (+$46/mo · 73.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $17,103
• − Mortgage interest: −$9,243
• − Property taxes: −$750
• − Insurance: −$825
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$4,800
• Taxable loss: −$1,251
• Est. tax savings @ 24.0%: +$300
• After-tax cash flow: $1,853/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: Stone County School District
• NCES district ID: 2804170
• Math proficiency: 52% ▼ -8.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $43,785
• Composite: 41.4/100
• National rank: #3476
• State rank: #15 of 130 in MS

Livability — Wiggins

• Score: 68/100
• State rank: #58
• US rank: #9290

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wiggins, MS
• Population (ZIP): 10,488

Population outlook (Stone County) Hauer SSP2

• Today (2025): 18,528 people
• By 2030: 18,585 · +0.3%
• By 2040: 18,429 · -0.5%
• By 2050: 17,825 · -3.8%
• By 2075: 16,095 · -13.1%
• By 2100: 14,276 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Serbian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Stone

• 2024 margin: Solid R (+58.0) · D 20.5% · R 78.5% · Other 1.1%
• 2008→2024 swing: -14.5pp toward R · 2008: -43.5pp · 2024: -58.0pp
• All cycles: 2024: R+58.0 2020: R+52.8 2016: R+53.5 2012: R+45.9 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.19%
• Current HPI: 158.2419
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.7% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $165,000 MLSU
• 2026-04-22 Listed $175,000 MLSU

Property tax history

+1.0%/yr

Latest (2020): $750 · -1.4% YoY. Source: county tax records.