256 W Main St

Webb, MS 38966

$38,290B

3 bd · 1.0 ba · 2,056 sqft · Built 1950 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,168/mo
• Mortgage (P&I): −$201
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $637/mo
• Annual: $7,646/yr
• Cap rate: 26.26%
• Cash-on-cash: 71.32%
• DSCR: 4.17
• 1% rule: 3.05%
• Cash to close: $10,721

Investor read

• This is a 3-bed/1.0-bath single-family listed at $38k.
• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 57 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($264 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 52/100 on livability (#333 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• West Tallahatchie School District (rural): math 4% / reading 11% proficiency, ranked #125 of 130 in MS (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 98% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: R H Bearden Elementary School (math 2% / reading 8%, grade F, #356 of 375 statewide, top 98%, 253 students, 100% FRL); West Tallahatchie High School (math 2% / reading 17%, grade F, #170 of 197 statewide, top 90%, 260 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 1 units permitted in Tallahatchie County in 2024 (0 in 5+ unit buildings).
• Tallahatchie 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.