147 Scott Armstrong St · Vardaman, MS 38878

$69,000

3 bd · 1.0 ba · 1,127 sqft · SingleFamily public records · 98 Days on market

Built 1975 0.40 ac lot ↓ 8% since listing

---

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
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

This well built 3 bedroom 1 bath is a great investment opportunity. In a great neighborhood in the city of Vardaman minutes away from shopping, banking, or dining. Has a metal and plenty of yard space. The perfect opportunity to fix n flip. This House is being Sold As Is. All info subject to verification. Agents see private remarks.

Key facts

• 0.4 acre lot
• Built 1975
• Listed 98 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#185 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Calhoun County School District (rural): math 28% / reading 29% proficiency, ranked #75 of 130 in MS (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 5 active listings in the ZIP; 10 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($477 loan paydown + $2k appreciation (3.0% local appreciation)).
• Calhoun County population projected at -19% 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 $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wind risk, 27% 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 $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.44% ✓
• Cap rate: 11.69%
• Cash-on-cash: 19.26%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.04×
• Total profit: $20,022
• Equity at exit: $30,854

10-year hold

• IRR: 19.7%
• Equity multiple: 3.85×
• Total profit: $55,105
• Equity at exit: $47,418

Cash invested: $19,320 (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 38878

• Home prices YoY: 3.3%
• Active inventory: 5
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $185

Break-even live

Break-even rent $762

Max offer price $69,000

Occupancy floor 76%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-01
   remarks 334-char remark
2. 2026-06-01
   listed $69,000 Pending 98 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $11,954
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$1,847
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$2,007
• Taxable income: $1,287
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $1,910/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: Calhoun County School District
• NCES district ID: 2800870
• Math proficiency: 28% ▼ -12.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $30,951
• Composite: 23.14/100
• National rank: #7952
• State rank: #75 of 130 in MS

Livability — Vardaman

• Score: 62/100
• State rank: #185
• US rank: #17276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vardaman, MS
• Population (ZIP): 2,642

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 14,108 people
• By 2030: 13,650 · -3.2%
• By 2040: 12,586 · -10.8%
• By 2050: 11,417 · -19.1%
• By 2075: 8,381 · -40.6%
• By 2100: 5,478 · -61.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 21% Black 10% Two or more races 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Serbian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 18%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+48.0) · D 25.6% · R 73.6%
• 2008→2024 swing: -20.3pp toward R · 2008: -27.7pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+41.3 2016: R+39.1 2012: R+27.3 2008: R+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.96%
• Current HPI: 91.7849
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-8.0% since first listed

4 events — show timeline

• 2026-06-01 Pending — NEMSBD
• 2025-05-21 Price Changed $69,000 NEMSBD
• 2025-04-23 Listed $75,000 NEMSBD
• 1989-01-20 Sold (Public Records) — Public Records