151 Barkwood Rd · Pearl River, MS 39051

$87,000

4 bd · 2.0 ba · 1,450 sqft · Other · 8 Days on market

Built 2004 1.30 ac lot ↓ 21% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +9.5/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Looking for a great home??? Then welcome to 151 Barkwood Road in Carthage, Mississippi. Located on 1.30 acres this home boasts a beautiful landscaped lawn, and is ideally situated between Carthage and Philadelphia. This 4 bedroom, 2 bath home has been recently remodeled and is waiting for you. Call your agent today and take a look at this amazing home.

Key facts

• 1.3 acre lot
• Built 2004
• Listed 8 days

Property features AI

Exterior

• Parking: Driveway; Gravel parking; No garage
• Utilities: Septic tank; Community water; Electricity available; Water available
• Home design: Single-family house; One level
• Construction: HardiPlank-type siding; Conventional foundation; Asphalt shingle roof; Built (year source: public records)
• Exterior features: Deck; Corner lot; Sloped lot

Interior

• Kitchen: Dishwasher; Range hood
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open floorplan; Breakfast bar; French doors; Aluminum window frames
• Laundry & utility: Electric dryer hookup; Laundry closet

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $87k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).

Location & tenants

• Location reads 60/100 on livability (#214 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Leake County School District (town): math 11% / reading 22% proficiency, ranked #102 of 130 in MS (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Leake Central Elementary School (math 5% / reading 20%, grade F, #293 of 375 statewide, top 79%, 860 students, 100% FRL); Leake Central Junior High (math 11% / reading 16%, grade F, #140 of 179 statewide, top 78%, 415 students, 100% FRL); Leake Central High School (math 12% / reading 32%, grade F, #119 of 197 statewide, top 64%, 612 students, 100% FRL) — zoned schools average 100% FRL vs 83% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 81 active listings in the ZIP.

Forward outlook

• In year one you build about $8k of equity ($601 loan paydown + $8k appreciation (9.0% local appreciation)).
• Leake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.63%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 3.63×
• Total profit: $64,052
• Equity at exit: $71,849

10-year hold

• IRR: 31.1%
• Equity multiple: 7.96×
• Total profit: $169,470
• Equity at exit: $148,488

Cash invested: $24,360 (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 39051

• Home prices YoY: 5.9%
• Active inventory: 81
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$88 /mo · $1,054/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $358

Break-even live

Break-even rent $735

Max offer price $87,000

Occupancy floor 65%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-15
   status Pending
2. 2026-04-07
   listed $87,000 Active
3. 2019-09-23
   soldstatus 354-char remark

   Show marketing remark (354 chars)

   Looking for a great home??? Then welcome to 151 Barkwood Road in Carthage, Mississippi. Located on 1.30 acres this home boasts a beautiful landscaped lawn, and is ideally situated between Carthage and Philadelphia. This 4 bedroom, 2 bath home has been recently remodeled and is waiting for you. Call your agent today and take a look at this amazing home.

4. 2019-07-30
   listed $115,000 354-char remark

   Show marketing remark (354 chars)

   Looking for a great home??? Then welcome to 151 Barkwood Road in Carthage, Mississippi. Located on 1.30 acres this home boasts a beautiful landscaped lawn, and is ideally situated between Carthage and Philadelphia. This 4 bedroom, 2 bath home has been recently remodeled and is waiting for you. Call your agent today and take a look at this amazing home.

5. 2018-05-29
   soldstatus 377-char remark

   Show marketing remark (377 chars)

   Oh MY!! This great 1450 sq ft home has been completely remodeled and waiting for its new owner.! This lovely 4 bedroom and 2 bath home is beautifully landscaped and sits atop a generous 1.3 acres. Conveniently located between Carthage and Philadelphia, right off of Hwy 16 is a definite plus on the location. What a Price, What a Deal, What a HOME!!! Call your Realtor TODAY!!!

6. 2018-03-30
   listed $109,999 377-char remark

   Show marketing remark (377 chars)

   Oh MY!! This great 1450 sq ft home has been completely remodeled and waiting for its new owner.! This lovely 4 bedroom and 2 bath home is beautifully landscaped and sits atop a generous 1.3 acres. Conveniently located between Carthage and Philadelphia, right off of Hwy 16 is a definite plus on the location. What a Price, What a Deal, What a HOME!!! Call your Realtor TODAY!!!

7. 2004-06-14
   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: $1,054 · $88/mo
• Projected year-2 tax: $1,054 · $88/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $14,253
• − Mortgage interest: −$4,873
• − Property taxes: −$1,054
• − Insurance: −$435
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$2,531
• Taxable income: $3,079
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $3,557/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: Leake County School District
• NCES district ID: 2802520
• Math proficiency: 11% ▼ -21.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $32,894
• Composite: 13.33/100
• National rank: #9538
• State rank: #102 of 130 in MS

Livability — Pearl River

• Score: 60/100
• State rank: #214
• US rank: #18831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,242

Population outlook (Leake County) Hauer SSP2

• Today (2025): 21,382 people
• By 2030: 20,405 · -4.6%
• By 2040: 18,208 · -14.8%
• By 2050: 15,732 · -26.4%
• By 2075: 9,562 · -55.3%
• By 2100: 5,455 · -74.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 47% Black 39% Hispanic / Latino 8% Native American 5% Two or more races 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 7%

Political lean MEDSL · Leake

• 2024 margin: Strong R (+23.4) · D 38.0% · R 61.4%
• 2008→2024 swing: -12.7pp toward R · 2008: -10.7pp · 2024: -23.4pp
• All cycles: 2024: R+23.4 2020: R+14.5 2016: R+14.2 2012: R+8.6 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.96%
• Current HPI: 161.5452
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.9% since first listed

7 events — show timeline

• 2026-04-15 Pending — MLSU
• 2026-04-07 Listed $87,000 MLSU
• 2019-09-23 Sold (MLS) — MLSU
• 2019-07-30 Listed $115,000 MLSU
• 2018-05-29 Sold (MLS) — MLSU
• 2018-03-30 Listed $109,999 MLSU
• 2004-06-14 Sold (Public Records) — Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,054 · +2.4% YoY. Source: county tax records.