204 Johnson St · Belzoni, MS 39038

$86,000

3 bd · 1.0 ba · 1,043 sqft · Other public records · 70 Days on market

Built 1974 1.00 ac lot ↓ 8% since listing

---

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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.0/5.0
• Appreciation +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Listing remarks

Charming Updated 3-Bedroom, 1.5-Bath Home in Belzoni, MS Discover the perfect blend of modern updates and Southern charm in this beautifully updated home located in the heart of Belzoni, MS. Featuring 3 spacious bedrooms and 1.5 baths, this property offers an open and inviting layout designed for comfort and functionality. This move-in-ready gem is conveniently located near local amenities, making it the perfect place to call home. House is virtually staged! Don't miss out on this incredible opportunity—contact your REALTOR today to schedule your private showing!

Key facts

• 1 acre lot
• Parking
• Built 1974

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $86k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $81k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#244 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Humphreys County School District (town): math 3% / reading 9% proficiency, ranked #128 of 130 in MS (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 11 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Humphreys County population projected at -34% 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 53% 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 $80,840 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.92%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $2,588
• Equity at exit: $12,823

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $23,554
• Equity at exit: $7,436

Cash invested: $24,080 (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 39038

• Home prices YoY: -3.6%
• Active inventory: 11
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$451
• Tax from tax record: −$96 /mo · $1,148/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $259

Break-even live

Break-even rent $737

Max offer price $86,000

Occupancy floor 71%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-03-23
   status Pending
2. 2026-03-21
   price $86,000
3. 2026-03-07
   price $83,500
4. 2026-01-12
   status Active
5. 2026-01-12
   listed $93,500 Active
6. 2025-11-26
   status Pending
7. 2025-11-26
   historical
8. 2025-11-23
   historical
9. 2025-10-25
   status Active
10. 2025-06-11
    status Pending
11. 2025-03-03
    status Active
12. 2025-02-09
    status Pending
13. 2025-01-14
    listed $93,500 Active

ⓘ 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: $1,148 · $96/mo
• Projected year-2 tax: $1,148 · $96/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 · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $12,787
• − Mortgage interest: −$4,817
• − Property taxes: −$1,148
• − Insurance: −$430
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$2,502
• Taxable income: $1,844
• Est. tax owed @ 24.0%: −$442
• After-tax cash flow: $2,669/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: Humphreys County School District
• NCES district ID: 2802040
• Math proficiency: 3% ▼ -13.00%
• Reading proficiency: 9% ▼ -5.00%
• Median HH income: $25,369
• Composite: 3.93/100
• National rank: #10062
• State rank: #128 of 130 in MS

Livability — Belzoni

• Score: 59/100
• State rank: #244
• US rank: #20158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,363

Population outlook (Humphreys County) Hauer SSP2

• Today (2025): 7,469 people
• By 2030: 6,878 · -7.9%
• By 2040: 5,784 · -22.6%
• By 2050: 4,906 · -34.3%
• By 2075: 3,775 · -49.5%
• By 2100: 3,672 · -50.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (82%)
• Race & ethnicity: Black 82% White 16%
• Common ancestry: Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Humphreys

• 2024 margin: Solid D (+41.9) · D 70.4% · R 28.6% · Other 1.0%
• 2008→2024 swing: -0.5pp no change · 2008: 42.4pp · 2024: 41.9pp
• All cycles: 2024: D+41.9 2020: D+45.3 2016: D+48.0 2012: D+52.0 2008: D+42.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.37%
• Current HPI: 116.4065
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-8.0% since first listed

13 events — show timeline

• 2026-03-23 Pending — MLSU
• 2026-03-21 Price Changed $86,000 MLSU
• 2026-03-07 Price Changed $83,500 MLSU
• 2026-01-12 Relisted — MLSU
• 2026-01-12 Listed $93,500 MLSU
• 2025-11-26 Pending — MLSU
• 2025-11-26 Listing Removed — MLSU
• 2025-11-23 Listing Removed — MLSU
• 2025-10-25 Relisted — MLSU
• 2025-06-11 Pending — MLSU
• 2025-03-03 Relisted — MLSU
• 2025-02-09 Pending — MLSU
• 2025-01-14 Listed $93,500 MLSU

Property tax history

+1.2%/yr

Latest (2025): $1,148 · +8.8% YoY. Source: county tax records.