1020 Sweetwater Cv · Pearl, MS 39208

$260,000

2 bd · 2.0 ba · 1,686 sqft · Condo public records · 107 Days on market

Built 2017 $154/sqft · 6% below area Est $272k · at est. $305/mo HOA · 14% of rent ↓ 2% 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 +9.7/30.0
• ARV discount +9.5/15.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering the perfect blend of modern comfort and cozy charm. With 1,659 square feet of thoughtfully designed living space, this residence is filled with natural light thanks to abundant windows and a bright, inviting sunroom with tinted glass for year-round enjoyment. Fresh paint throughout the common areas gives the home a clean, contemporary feel, while upgraded ceiling fans, a smart thermostat, and a remote-controlled gas fireplace add both style and convenience. The spacious kitchen features a desirable walk-in pantry, ideal for organized storage and everyday ease. The primary suite is a true retreat, highlighted by a top-of-the-line Safe Step walk-in tub/shower for comfort and accessibility. Additional premium features include a temperature-controlled storage room located just off the attached 2-car garage -- perfect for seasonal items, hobbies, or valuables. Located in a gated, centralized community close to popular restaurants and local amenities, this condo offers low-maintenance living with exterior upkeep handled by the HOA. Residents also enjoy access to a clubhouse with an exercise room, a community pool, and monthly social events -- creating both convenience and connection. Modern upgrades, generous space, and resort-style amenities make this condo an exceptional place to call home.

Key facts

• Gated community
• Community pool
• Walk-in pantry

Tags

• SUNROOM WITH TINTED GLASS
• WALK-IN PANTRY
• GATED COMMUNITY
• CLUBHOUSE WITH EXERCISE ROOM
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (14.9% below list).
• Recommended offer: $221k (14.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#19 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Pearl Public School District (suburban): math 44% / reading 42% proficiency, ranked #32 of 130 in MS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.3%/yr); 265 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($65k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 2 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.

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 $221,379 (14.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 9.8

CMA / ARV

• ARV (median comp): $272,280
• List price: $260,000
• Delta: -4.51%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.34% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.38×
• Total profit: $-45,312
• Equity at exit: $38,767

10-year hold

• IRR: -3.5%
• Equity multiple: 0.73×
• Total profit: $-19,353
• Equity at exit: $22,480

Cash invested: $72,800 (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 39208

• Home prices YoY: -20.3%
• Rents YoY: 6.3%
• Active inventory: 265
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,214 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$144 /mo · $1,734/yr
• Insurance: −$108
• HOA: −$305
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-172

Break-even live

Break-even rent $2,432

Max offer price $229,549

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
573 Patrick Farms Dr Pearl, MS	3.0	2.0	1910	$2,700	$1.41	13d	1	0.36mi
563 Patrick Farms Dr Pearl, MS	3.0	2.0	1810	$2,387	$1.32	13d	1	0.69mi
571 Patrick Farms Dr Pearl, MS	3.0	2.0	1810	$2,387	$1.32	13d	1	0.76mi

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Likely covers: gaspoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $260,000 Active 107 DOM
2. 2026-06-17
   days on market $260,000 Active 106 DOM
3. 2026-06-16
   days on market $260,000 Active 105 DOM
4. 2026-06-15
   days on market $260,000 Active 104 DOM
5. 2026-06-14
   days on market $260,000 Active 102 DOM
6. 2026-06-10
   days on market $260,000 Active 99 DOM
7. 2026-06-09
   days on market $260,000 Active 98 DOM
8. 2026-06-08
   days on market $260,000 Active 97 DOM
9. 2026-06-07
   days on market $260,000 Active 96 DOM
10. 2026-06-03
    days on market $260,000 Active 92 DOM
11. 2026-06-03
    price $260,000 Active 91 DOM
12. 2026-06-02
    days on market $265,000 Active 91 DOM
13. 2026-06-01
    days on market $265,000 Active 90 DOM
14. 2026-05-31
    days on market $265,000 Active 89 DOM
15. 2026-05-30
    days on market $265,000 Active 88 DOM
16. 2026-05-08
    price $265,000 1393-char remark

    Show marketing remark (1393 chars)

    Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering the perfect blend of modern comfort and cozy charm. With 1,659 square feet of thoughtfully designed living space, this residence is filled with natural light thanks to abundant windows and a bright, inviting sunroom with tinted glass for year-round enjoyment. Fresh paint throughout the common areas gives the home a clean, contemporary feel, while upgraded ceiling fans, a smart thermostat, and a remote-controlled gas fireplace add both style and convenience. The spacious kitchen features a desirable walk-in pantry, ideal for organized storage and everyday ease. The primary suite is a true retreat, highlighted by a top-of-the-line Safe Step walk-in tub/shower for comfort and accessibility. Additional premium features include a temperature-controlled storage room located just off the attached 2-car garage -- perfect for seasonal items, hobbies, or valuables. Located in a gated, centralized community close to popular restaurants and local amenities, this condo offers low-maintenance living with exterior upkeep handled by the HOA. Residents also enjoy access to a clubhouse with an exercise room, a community pool, and monthly social events -- creating both convenience and connection. Modern upgrades, generous space, and resort-style amenities make this condo an exceptional place to call home.

17. 2026-03-28
    status Active 1393-char remark

    Show marketing remark (1393 chars)

    Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering the perfect blend of modern comfort and cozy charm. With 1,659 square feet of thoughtfully designed living space, this residence is filled with natural light thanks to abundant windows and a bright, inviting sunroom with tinted glass for year-round enjoyment. Fresh paint throughout the common areas gives the home a clean, contemporary feel, while upgraded ceiling fans, a smart thermostat, and a remote-controlled gas fireplace add both style and convenience. The spacious kitchen features a desirable walk-in pantry, ideal for organized storage and everyday ease. The primary suite is a true retreat, highlighted by a top-of-the-line Safe Step walk-in tub/shower for comfort and accessibility. Additional premium features include a temperature-controlled storage room located just off the attached 2-car garage -- perfect for seasonal items, hobbies, or valuables. Located in a gated, centralized community close to popular restaurants and local amenities, this condo offers low-maintenance living with exterior upkeep handled by the HOA. Residents also enjoy access to a clubhouse with an exercise room, a community pool, and monthly social events -- creating both convenience and connection. Modern upgrades, generous space, and resort-style amenities make this condo an exceptional place to call home.

18. 2026-03-19
    status Pending 1393-char remark

    Show marketing remark (1393 chars)

    Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering the perfect blend of modern comfort and cozy charm. With 1,659 square feet of thoughtfully designed living space, this residence is filled with natural light thanks to abundant windows and a bright, inviting sunroom with tinted glass for year-round enjoyment. Fresh paint throughout the common areas gives the home a clean, contemporary feel, while upgraded ceiling fans, a smart thermostat, and a remote-controlled gas fireplace add both style and convenience. The spacious kitchen features a desirable walk-in pantry, ideal for organized storage and everyday ease. The primary suite is a true retreat, highlighted by a top-of-the-line Safe Step walk-in tub/shower for comfort and accessibility. Additional premium features include a temperature-controlled storage room located just off the attached 2-car garage -- perfect for seasonal items, hobbies, or valuables. Located in a gated, centralized community close to popular restaurants and local amenities, this condo offers low-maintenance living with exterior upkeep handled by the HOA. Residents also enjoy access to a clubhouse with an exercise room, a community pool, and monthly social events -- creating both convenience and connection. Modern upgrades, generous space, and resort-style amenities make this condo an exceptional place to call home.

19. 2026-02-22
    listed $270,000 Active 1393-char remark

    Show marketing remark (1393 chars)

    Welcome home to this beautifully updated 2-bedroom, 2-bath condo offering the perfect blend of modern comfort and cozy charm. With 1,659 square feet of thoughtfully designed living space, this residence is filled with natural light thanks to abundant windows and a bright, inviting sunroom with tinted glass for year-round enjoyment. Fresh paint throughout the common areas gives the home a clean, contemporary feel, while upgraded ceiling fans, a smart thermostat, and a remote-controlled gas fireplace add both style and convenience. The spacious kitchen features a desirable walk-in pantry, ideal for organized storage and everyday ease. The primary suite is a true retreat, highlighted by a top-of-the-line Safe Step walk-in tub/shower for comfort and accessibility. Additional premium features include a temperature-controlled storage room located just off the attached 2-car garage -- perfect for seasonal items, hobbies, or valuables. Located in a gated, centralized community close to popular restaurants and local amenities, this condo offers low-maintenance living with exterior upkeep handled by the HOA. Residents also enjoy access to a clubhouse with an exercise room, a community pool, and monthly social events -- creating both convenience and connection. Modern upgrades, generous space, and resort-style amenities make this condo an exceptional place to call home.

20. 2020-04-28
    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: $1,734 · $144/mo
• Projected year-2 tax: $2,054 · $171/mo
• Expected delta: +$320/yr (+$27/mo · 18.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,565
• − Mortgage interest: −$14,564
• − Property taxes: −$1,734
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,125
• − Management: −$2,125
• − HOA: −$3,660
• − Depreciation: −$7,564
• Taxable loss: −$6,506
• Est. tax savings @ 24.0%: +$1,562
• After-tax cash flow: $-507/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: Pearl Public School District
• NCES district ID: 2803520
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $42,525
• Composite: 36.29/100
• National rank: #4699
• State rank: #32 of 130 in MS

Livability — Pearl

• Score: 73/100
• State rank: #19
• US rank: #5662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pearl, MS
• County: Rankin County · 123,614 people
• City population: 34,442
• Metro: Jackson, MS
• Population (ZIP): 34,442
• Household income: $65,480
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1235.0

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 31% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Common ancestry: Italian 5% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.11%
• Current HPI: 193.0609
• Rent YoY: ▲ 6.34%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-1.9% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $265,000 MLSU
• 2026-03-28 Relisted — MLSU
• 2026-03-19 Pending — MLSU
• 2026-02-22 Listed $270,000 MLSU
• 2020-04-28 Sold (Public Records) — Public Records

Property tax history

+30.4%/yr

Latest (2024): $1,734 · -17.0% YoY. Source: county tax records.