430 Oak St · New Albany, MS 38652

$899,900

None bd · None ba · 5,000 sqft · MultiFamily · 20 Days on market

Good condition 0.30 ac lot

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 13 units. estimate disagrees with records

Listing remarks

TURNKEY 13-unit multi-family investment in New Albany! Bodhi's Bungalows is a 100% renovated high demand income-producer operating on a lucrative flexible-living model. Formerly a historic 1950s motel, it has been completely reimagined into a community-centric asset. Unit Mix: 10 1-bed/1-bath units, 2 2-bed/1-bath units and 1 value-add basement unit under renovation. Each unique apartment features a private bath, fridge, and microwave. Premier Amenities & Ancillary Income: Residents enjoy an updated kitchen with stainless appliances and assigned cabinets, a media lounge with a 72'' TV, and an outdoor patio with grills. Boost your NOI immediately with the on-site coin operated laundr

Key facts

• Media lounge
• Private bath
• Stainless appliances

Tags

• 100% RENOVATED
• PRIVATE BATH
• UPDATED KITCHEN
• STAINLESS APPLIANCES
• MEDIA LOUNGE
• OUTDOOR PATIO

Property features AI

Finance

• Other: Located in the New Albany public school district; Directions: I-22 W toward New Albany. Take Exit 60 for MS-15 toward New Albany/Pontotoc. Turn right onto MS-15N/Bankhead St. Turn onto Oak St; property on right.
• Financial info: Annual property tax approximately $1,257.99; Investor-oriented: residential income / multi-family use

Exterior

• Home design: Multi-family residential income property; One story
• Construction: Built as multi-family
• Exterior features: 0.3-acre lot; Commercial zoning

Interior

• Interior features: Single-story layout

What this means for you Summary

Snapshot

• This is a 11×1bd/1ba + 2×2bd/1ba units multifamily listed at $900k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $240/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $900k).
• Recommended offer: $886k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#13 in MS, #4,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A-; Watch: schools C-, employment D+, amenities F.
• New Albany Public Schools (rural): math 51% / reading 43% proficiency, ranked #22 of 130 in MS (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 156 active listings in the ZIP; 17 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Union County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $886,401 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $52,742
• Equity at exit: $134,178

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $302,105
• Equity at exit: $77,807

Cash invested: $251,972 (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 38652

• Home prices YoY: -34.5%
• Active inventory: 156
• Price-to-rent: 82.6×

Monthly cashflow live

• Estimated rent: $11,815 medium
• Mortgage (P&I): −$4,719
• Tax est. 1.5%: −$1,125 /mo · $13,498/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,481
• Net cashflow: $3,115

Break-even live

Break-even rent $7,872

Max offer price $899,900

Occupancy floor 69%

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 11× units	1	1	$9,988
▸ 2× units	2	1	$1,832
Total (13 units)			$11,815

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: $224,975
• Closing costs: $26,997
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $899,900 Active 20 DOM
2. 2026-06-17
   days on market $899,900 Active 19 DOM
3. 2026-06-16
   days on market $899,900 Active 18 DOM
4. 2026-06-15
   days on market $899,900 Active 17 DOM
5. 2026-06-14
   days on market $899,900 Active 15 DOM
6. 2026-06-12
   days on market $899,900 Active 14 DOM
7. 2026-06-09
   days on market $899,900 Active 11 DOM
8. 2026-06-08
   days on market $899,900 Active 10 DOM
9. 2026-06-07
   days on market $899,900 Active 9 DOM
10. 2026-06-07
    days on market $899,900 Active 8 DOM
11. 2026-06-04
    days on market $899,900 Active 5 DOM
12. 2026-06-02
    days on market $899,900 Active 4 DOM
13. 2026-06-01
    days on market $899,900 Active 3 DOM
14. 2026-05-31
    days on market $899,900 Active 2 DOM
15. 2026-05-29
    listed $899,900 Active

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $141,780
• − Mortgage interest: −$50,408
• − Property taxes: −$13,498
• − Insurance: −$4,500
• − Repairs & maintenance: −$11,342
• − Management: −$11,342
• − Depreciation: −$26,179
• Taxable income: $24,510
• Est. tax owed @ 24.0%: −$5,882
• After-tax cash flow: $31,496/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This 13-unit multi-family property is in good condition with minimal repairs needed. Painting the exterior siding and replacing damaged windows would significantly increase its resale and rental value.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the property's value.
• Both Replace any damaged windows — Replacing damaged windows can improve the energy efficiency and increase the property's value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the property's value. ↑
• Both Replace any damaged windows — Replacing damaged windows can improve the energy efficiency and increase the property's value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: New Albany Public Schools
• NCES district ID: 2803120
• Math proficiency: 51% ▼ -13.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $37,325
• Composite: 39.13/100
• National rank: #4037
• State rank: #22 of 130 in MS

Livability — New Albany

• Score: 74/100
• State rank: #13
• US rank: #4449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Albany, MS
• City population: 15,540
• Population (ZIP): 15,540

Population outlook (Union County) Hauer SSP2

• Today (2025): 30,992 people
• By 2030: 32,294 · +4.2%
• By 2040: 34,789 · +12.3%
• By 2050: 36,987 · +19.3%
• By 2075: 40,835 · +31.8%
• By 2100: 40,538 · +30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Union

• 2024 margin: Solid R (+70.1) · D 14.5% · R 84.6%
• 2008→2024 swing: -20.2pp toward R · 2008: -49.9pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+64.8 2016: R+63.2 2012: R+51.0 2008: R+49.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.75%
• Current HPI: 153.1381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-29 Listed $899,900 NEMSBD