3901 Camellia St

Moss Point, MS 39563

$105,000D+

None bd · 8.0 ba · 4,647 sqft · Built 1972 · MultiFamily · Pending · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,672/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$274
• HOA: −$0
• Vac / Maint / Mgmt: −$1,401
• Net cashflow: $4,446/mo
• Annual: $53,351/yr
• Cap rate: 57.10%
• Cash-on-cash: 181.46%
• DSCR: 9.07
• 1% rule: 6.35%
• Cash to close: $29,400

Investor read

• This is a 8 × 2-bed/?-bath units multifamily listed at $105k.
• At list price, monthly cash flow is $4k ($53k/yr) — positive. Per door: $556/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $105k).
• It's been on market 45 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($726 loan paydown + $5k appreciation (4.6% local appreciation)).
• Location reads 67/100 on livability (#77 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D+, schools D, amenities F.
• Moss Point Separate School District (suburban): math 17% / reading 22% proficiency, ranked #94 of 130 in MS (top 72%) — 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.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 86 active listings in the ZIP; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).
• 3 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.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 57.1% vs local median 6.8% in Moss Point — 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

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?