121 Bellegrove Cir · Flowood, MS 39047

$239,900

3 bd · 1.0 ba · 1,434 sqft · SingleFamily public records · 61 Days on market

Built 1984 9,583 sqft lot $167/sqft · 15% above area Est $218k · 10% over

---

Why this score? — see what drove the D 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 +15.2/30.0
• DSCR +4.7/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 3 bed-room, 2-bath home in the heart of Brandon! Offering approximately 1,500 square feet, this property features a functional and inviting layout designed for comfortable everyday living. The spacious living area flows seamlessly into the kitchen and dining space, creating a warm and welcoming atmosphere. One of the standout features of this home is the oversized master bedroom, providing plenty of space for a sitting area, home office, or personal retreat. The additional bedrooms are generously sized and offer flexibility for family, guests, or workspace needs. Step outside to enjoy the nice-sized backyard. Perfect for entertaining, relaxing, or creating your own outdoor oasis. Conveniently located just minutes from shopping centers, grocery stores, dining, and hospitals, this home offers both comfort and convenience. Whether you're a first time homebuyer, downsizing, or looking for an investment opportunity, this home is one you don't want to miss!

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1984

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (14.9% below list).
• Recommended offer: $204k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.3% in Flowood — 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.

Location & tenants

• Location reads 77/100 on livability (#10 in MS, #3,075 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Rankin County School District (rural): math 56% / reading 48% proficiency, ranked #6 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 433 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $204,150 (14.9% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (median comp): $217,597
• List price: $239,900
• Delta: 10.25%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Wildwood Ln	0.13mi	3/2.0	1,475 (+3%)	6mo	$210,000	$142	80
1 Brandy Village Cv	0.07mi	3/2.0	1,331 (-7%)	2mo	$218,000	$164	79
169 Bellegrove Cir	0.24mi	3/2.0	1,394 (-3%)	2mo	$220,000	$158	79
102 Live Oak Cv	0.17mi	3/2.0	1,485 (+4%)	7mo	$238,000	$160	76
117 Shenandoah Rd	0.44mi	3/2.0	1,426 (-1%)	1mo	$165,000	$116	74
123 Cumberland Rd	0.33mi	3/2.0	1,346 (-6%)	1mo	$219,900	$163	70
408 Pinebrook Cir	0.48mi	3/2.0	1,402 (-2%)	3mo	$239,900	$171	68
102 Cumberland Rd	0.40mi	3/2.0	1,335 (-7%)	0mo	$145,000	$109	66
117 Cumberland Rd	0.38mi	3/2.0	1,339 (-7%)	3mo	$219,900	$164	65
191 Bellegrove Cir	0.27mi	3/2.0	1,242 (-13%)	3mo	$193,500	$156	59
148 W Pinebrook Dr	0.71mi	3/2.0	1,604 (+12%)	0mo	$289,900	$181	43
504 Pinebark Cv	0.69mi	3/2.0	1,585 (+10%)	5mo	$286,000	$180	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-33,758
• Equity at exit: $35,770

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-23,518
• Equity at exit: $20,742

Cash invested: $67,172 (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 39047

• Home prices YoY: -32.6%
• Rents YoY: 2.9%
• Active inventory: 433
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$170 /mo · $2,045/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $84

Break-even live

Break-even rent $1,935

Max offer price $239,900

Occupancy floor 91%

Sensitivity live

Price	-10% $220	-5% $152	+0% $84	+5% $16	+10% $-51
Rent	-10% $-77	-5% $4	+0% $84	+5% $165	+10% $246
Rate	-1.0pp $205	-0.5pp $145	base $84	+0.5pp $22	+1.0pp $-41

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
183 Cumberland Rd Brandon, MS	3.0	2.0	1097	$1,750	$1.60	22d	1	0.15mi
218 Shenandoah Rd N Brandon, MS	3.0	2.0	1625	$2,006	$1.23	44d	1	0.25mi
133 Cumberland Rd Brandon, MS	4.0	3.0	1846	$2,225	$1.21	24d	1	0.26mi
199 Dogwood Cir Brandon, MS	3.0	2.0	1550	$1,900	$1.23	45d	1	0.33mi
413 Shenandoah Rd N Brandon, MS	4.0	2.0	1715	$2,056	$1.20	14d	1	0.34mi
154 Plum Tree Rd Brandon, MS	3.0	2.0	1289	$1,931	$1.50	24d	1	0.37mi
500 Avalon Way Brandon, MS	2.0–3.0	2.0	1287	$2,052	$1.59	14d	6	0.94mi
352 Brendalwood Cv Brandon, MS	2.0	1.5	1248	$1,157	$0.93	44d	1	1.15mi
301 Jasmine Ct Brandon, MS	3.0	2.0	1805	$2,200	$1.22	44d	1	1.23mi
520 Vine Dr Flowood, MS	2.0–3.0	2.0	1114	$1,745	$1.57	14d	8	1.31mi

Listing history 24 events

1. 2026-06-18
   days on market $239,900 Active 61 DOM
2. 2026-06-17
   days on market $239,900 Active 60 DOM
3. 2026-06-16
   days on market $239,900 Active 59 DOM
4. 2026-06-15
   days on market $239,900 Active 58 DOM
5. 2026-06-14
   days on market $239,900 Active 56 DOM
6. 2026-06-13
   days on market $239,900 Active 55 DOM
7. 2026-06-10
   days on market $239,900 Active 53 DOM
8. 2026-06-09
   days on market $239,900 Active 52 DOM
9. 2026-06-08
   days on market $239,900 Active 51 DOM
10. 2026-06-07
    days on market $239,900 Active 50 DOM
11. 2026-06-03
    days on market $239,900 Active 46 DOM
12. 2026-06-02
    days on market $239,900 Active 45 DOM
13. 2026-06-01
    days on market $239,900 Active 44 DOM
14. 2026-05-31
    days on market $239,900 Active 43 DOM
15. 2026-05-30
    days on market $239,900 Active 42 DOM
16. 2026-04-18
    listed $239,900 Active 1007-char remark

    Show marketing remark (1007 chars)

    Welcome to this well-maintained 3 bed-room, 2-bath home in the heart of Brandon! Offering approximately 1,500 square feet, this property features a functional and inviting layout designed for comfortable everyday living. The spacious living area flows seamlessly into the kitchen and dining space, creating a warm and welcoming atmosphere. One of the standout features of this home is the oversized master bedroom, providing plenty of space for a sitting area, home office, or personal retreat. The additional bedrooms are generously sized and offer flexibility for family, guests, or workspace needs. Step outside to enjoy the nice-sized backyard. Perfect for entertaining, relaxing, or creating your own outdoor oasis. Conveniently located just minutes from shopping centers, grocery stores, dining, and hospitals, this home offers both comfort and convenience. Whether you're a first time homebuyer, downsizing, or looking for an investment opportunity, this home is one you don't want to miss!

17. 2024-02-24
    historical $1,695
18. 2024-01-04
    listed $1,695
19. 2010-12-30
    soldstatus 543-char remark

    Show marketing remark (543 chars)

    Extensive updating has been done, decorator colors, faucets updated, ceramic tile floor in baths/kitchen. Roof has been replaced. Great yard for children. The water heater has a re-circulating pump on it for quick hot water in the master bath. Plush carpet, very clean and ready to move into. Active duly military who were deployed during tax credit time,can still get $8000 for 1st time buyer or $6500 tax credit. DOWN PAYMENT ASSISTANCE IS ALSO AVAILABLE! IT IS A UNBELIEVABL FOR THIS PRICE. Taxes estimated at $610 with homestead exemption.

20. 2010-07-28
    listed $124,900 543-char remark

    Show marketing remark (543 chars)

    Extensive updating has been done, decorator colors, faucets updated, ceramic tile floor in baths/kitchen. Roof has been replaced. Great yard for children. The water heater has a re-circulating pump on it for quick hot water in the master bath. Plush carpet, very clean and ready to move into. Active duly military who were deployed during tax credit time,can still get $8000 for 1st time buyer or $6500 tax credit. DOWN PAYMENT ASSISTANCE IS ALSO AVAILABLE! IT IS A UNBELIEVABL FOR THIS PRICE. Taxes estimated at $610 with homestead exemption.

21. 2002-04-30
    soldstatus
22. 2002-02-19
    listed $99,900
23. 2001-12-21
    soldstatus
24. 2001-08-24
    listed $79,200

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

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $2,045 · $170/mo
• Projected year-2 tax: $2,045 · $170/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,498
• − Mortgage interest: −$13,438
• − Property taxes: −$2,045
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,960
• − Management: −$1,960
• − Depreciation: −$6,979
• Taxable loss: −$3,084
• Est. tax savings @ 24.0%: +$740
• After-tax cash flow: $1,752/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: Rankin County School District
• NCES district ID: 2803830
• Math proficiency: 56% ▼ -4.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $61,867
• Composite: 45.62/100
• National rank: #2587
• State rank: #6 of 130 in MS

Livability — Flowood

• Score: 77/100
• State rank: #10
• US rank: #3075

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rankin County · 123,614 people
• City population: 9,222
• Metro: Jackson, MS
• Population (ZIP): 40,808
• Household income: $100,347
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 551.0

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 16% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Italian 4% Slovak 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.01%
• Current HPI: 162.9709
• Rent YoY: ▲ 2.90%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+202.9% since first listed

9 events — show timeline

• 2026-04-18 Listed $239,900 MLSU
• 2024-02-24 Rental Removed $1,695 RENTLY
• 2024-01-04 Listed for Rent $1,695 RENTLY
• 2010-12-30 Sold (MLS) — MLSU
• 2010-07-28 Listed $124,900 MLSU
• 2002-04-30 Sold (MLS) — MLSU
• 2002-02-19 Listed $99,900 MLSU
• 2001-12-21 Sold (MLS) — MLSU
• 2001-08-24 Listed $79,200 MLSU

Property tax history

+11.2%/yr

Latest (2025): $2,045 · +5.4% YoY. Source: county tax records.