1052 Seminary-sumrall Rd

Sumrall, MS 39479

$105,000C

4 bd · 2.0 ba · 1,748 sqft · Built 2008 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,222/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $240/mo
• Annual: $2,877/yr
• Cap rate: 9.03%
• Cash-on-cash: 9.79%
• DSCR: 1.44
• 1% rule: 1.16%
• Cash to close: $29,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $105k. Condition is rated fair.
• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#7 in MS, #2,313 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Covington County School District (rural): math 26% / reading 28% proficiency, ranked #78 of 130 in MS (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Seminary Elementary School (math 67% / reading 57%, grade B, #18 of 375 statewide, top 5%, 427 students, 100% FRL); Seminary Middle School (math 26% / reading 29%, grade F, #97 of 179 statewide, top 54%, 383 students, 100% FRL); Seminary High School (math 32% / reading 27%, grade F, #91 of 197 statewide, top 49%, 388 students, 100% FRL) — zoned schools average 100% FRL vs 74% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 27% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Covington County School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 34 active listings in the ZIP.
• Covington County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate flood risk; severe wind risk, 98% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.0% vs local median 2.9% in Sumrall — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — The paint appears to be in good condition, with no visible signs of peeling or chipping.
• Minor: Landscaping — The landscaping is simple, with grass and a few trees. There is room for improvement.