607 Gloucester Way · Flowood, MS 39232

$375,000

4 bd · 2.0 ba · 2,166 sqft · SingleFamily · 46 Days on market

Built 2019 8,276 sqft lot $173/sqft · 14% below area Est $438k · 14% under $57/mo HOA · 3% of rent

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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).

• ARV discount +14.0/15.0
• Cash flow +5.6/30.0
• Appreciation +5.4/10.0
• Schools +4.6/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Huge price drop! Welcome to 607 Gloucester Way, located in the highly sought-after Kensington subdivision in Flowood! This gated community offers resort-style amenities including a beautiful neighborhood pool, clubhouse, and a stocked lake perfect for fishing and relaxing afternoons. This stunning freshly painted 4-bedroom, 2-bath home features a desirable split floor plan designed for both comfort and functionality. The spacious kitchen is a true centerpiece, complete with a large bar, gorgeous granite countertops, custom cabinetry, and a gas range--opening seamlessly into the living room, making it ideal for entertaining. Enjoy gatherings in the formal dining room, which easily accommodates a large table for hosting family and friends. The private primary suite is generously sized and features a spa-like bathroom with a large tiled shower, separate garden tub, and plenty of space to unwind. Step outside to the covered back porch with a beautiful tongue-and-groove ceiling--perfect for enjoying outdoor living year-round. Don't miss your chance to call this exceptional property home--schedule your private showing today!

Key facts

• Gated community
• Clubhouse
• Spacious kitchen

Tags

• GATED COMMUNITY
• NEIGHBORHOOD POOL
• CLUBHOUSE
• STOCKED LAKE
• SPACIOUS KITCHEN
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-790 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (37.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (43.8% below list).
• Recommended offer: $211k (43.8% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Oakdale Elementary (math 57% / reading 50%, grade C, #49 of 375 statewide, top 13%, 532 students, 99% FRL); Northwest Rankin Middle School (math 63% / reading 51%, grade B, #13 of 179 statewide, top 7%, 1,374 students, 100% FRL); Northwest Rankin High School (math 48% / reading 42%, grade D-, #34 of 197 statewide, top 17%, 1,898 students, 100% FRL) — zoned schools average 100% FRL vs 35% district-wide (65 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.6%/yr); 158 active listings in the ZIP; solid renter incomes; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($3k loan paydown + $3k appreciation (0.8% local appreciation)).
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,781 (43.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.56% ✗
• Cap rate: 3.76%
• Cash-on-cash: -9.03%
• DSCR: 0.60
• GRM: 14.8

CMA / ARV

• ARV (median comp): $437,859
• List price: $375,000
• Delta: -14.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 Old Court Xing	0.10mi	4/2.5	2,249 (+4%)	1mo	$409,000	$182	86
537 Wales Way	0.12mi	4/2.5	2,180 (+1%)	6mo	$397,000	$182	86
309 Royal Pond Cir	0.14mi	4/3.0	2,143 (-1%)	2mo	$399,000	$186	86
410 Duke Ct	0.15mi	4/3.0	2,164 (-0%)	4mo	$390,000	$180	85
913 Brunswick Ct	0.17mi	4/3.0	2,204 (+2%)	0mo	$418,760	$190	85
136 Palace Xing	0.08mi	4/3.0	2,259 (+4%)	1mo	$439,900	$195	84
1012 Kensington Dr	0.16mi	4/2.0	2,102 (-3%)	6mo	$389,900	$185	82
1106 Old Court Xing	0.15mi	4/3.0	2,105 (-3%)	3mo	$409,900	$195	82
134 Palace Xing	0.07mi	3/2.0 (-1)	2,025 (-6%)	1mo	$394,900	$195	80
1205 Old Court Xing	0.22mi	4/3.0	2,150 (-1%)	6mo	$408,500	$190	79
1014 Kensington Dr	0.16mi	4/3.0	2,107 (-3%)	8mo	$399,900	$190	78
1209 Old Court Xing	0.24mi	4/2.5	2,277 (+5%)	8mo	$429,630	$189	72

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

Projected returns pro-forma

0.79% appreciation · 6.57% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.63×
• Total profit: $-39,287
• Equity at exit: $124,016

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $1,238
• Equity at exit: $161,755

Cash invested: $105,000 (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 39232

• Home prices YoY: 0.5%
• Rents YoY: 6.6%
• Active inventory: 158
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,108 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$276 /mo · $3,307/yr
• Insurance: −$156
• HOA: −$57
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-790

Break-even live

Break-even rent $3,108

Max offer price $235,410

Occupancy floor —

Sensitivity live

Price	-10% $-578	-5% $-684	+0% $-790	+5% $-896	+10% $-1,002
Rent	-10% $-957	-5% $-873	+0% $-790	+5% $-707	+10% $-624
Rate	-1.0pp $-601	-0.5pp $-695	base $-790	+0.5pp $-887	+1.0pp $-986

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $57 · $684/yr
• Likely covers: gaspoolsecurity

Listing history 5 events

1. 2026-05-13
   status Pending 1151-char remark

   Show marketing remark (1151 chars)

   Huge price drop! Welcome to 607 Gloucester Way, located in the highly sought-after Kensington subdivision in Flowood! This gated community offers resort-style amenities including a beautiful neighborhood pool, clubhouse, and a stocked lake perfect for fishing and relaxing afternoons. This stunning freshly painted 4-bedroom, 2-bath home features a desirable split floor plan designed for both comfort and functionality. The spacious kitchen is a true centerpiece, complete with a large bar, gorgeous granite countertops, custom cabinetry, and a gas range--opening seamlessly into the living room, making it ideal for entertaining. Enjoy gatherings in the formal dining room, which easily accommodates a large table for hosting family and friends. The private primary suite is generously sized and features a spa-like bathroom with a large tiled shower, separate garden tub, and plenty of space to unwind. Step outside to the covered back porch with a beautiful tongue-and-groove ceiling--perfect for enjoying outdoor living year-round. Don't miss your chance to call this exceptional property home--schedule your private showing today!

2. 2026-03-30
   price $375,000 1151-char remark

   Show marketing remark (1151 chars)

   Huge price drop! Welcome to 607 Gloucester Way, located in the highly sought-after Kensington subdivision in Flowood! This gated community offers resort-style amenities including a beautiful neighborhood pool, clubhouse, and a stocked lake perfect for fishing and relaxing afternoons. This stunning freshly painted 4-bedroom, 2-bath home features a desirable split floor plan designed for both comfort and functionality. The spacious kitchen is a true centerpiece, complete with a large bar, gorgeous granite countertops, custom cabinetry, and a gas range--opening seamlessly into the living room, making it ideal for entertaining. Enjoy gatherings in the formal dining room, which easily accommodates a large table for hosting family and friends. The private primary suite is generously sized and features a spa-like bathroom with a large tiled shower, separate garden tub, and plenty of space to unwind. Step outside to the covered back porch with a beautiful tongue-and-groove ceiling--perfect for enjoying outdoor living year-round. Don't miss your chance to call this exceptional property home--schedule your private showing today!

3. 2026-03-28
   listed $390,000 Active 1151-char remark

   Show marketing remark (1151 chars)

   Huge price drop! Welcome to 607 Gloucester Way, located in the highly sought-after Kensington subdivision in Flowood! This gated community offers resort-style amenities including a beautiful neighborhood pool, clubhouse, and a stocked lake perfect for fishing and relaxing afternoons. This stunning freshly painted 4-bedroom, 2-bath home features a desirable split floor plan designed for both comfort and functionality. The spacious kitchen is a true centerpiece, complete with a large bar, gorgeous granite countertops, custom cabinetry, and a gas range--opening seamlessly into the living room, making it ideal for entertaining. Enjoy gatherings in the formal dining room, which easily accommodates a large table for hosting family and friends. The private primary suite is generously sized and features a spa-like bathroom with a large tiled shower, separate garden tub, and plenty of space to unwind. Step outside to the covered back porch with a beautiful tongue-and-groove ceiling--perfect for enjoying outdoor living year-round. Don't miss your chance to call this exceptional property home--schedule your private showing today!

4. 2019-09-27
   soldstatus 698-char remark

   Show marketing remark (698 chars)

   Welcome to 607 Gloucester Way of Kensington in Flowood. Kensington is a Gated Community with a beautiful neighborhood pool and clubhouse also has a stocked lake for fishing. This beautiful 4 bedroom 2 bathroom home is a split plan. Kitchen contains a large bar with beautiful granite, custom cabinets and gas range. It opens to the living room which is perfect for entertaining. The formal dining room is spacious enough for a large table. Spacious Master Suite hosts a large tiled shower and separate garden tub. Covered back porch with tongue and groove ceiling makes outdoor living easy! We have 10 different floorplans all at various stages of construction. Call today for your private showing.

5. 2019-04-02
   listed $298,000 698-char remark

   Show marketing remark (698 chars)

   Welcome to 607 Gloucester Way of Kensington in Flowood. Kensington is a Gated Community with a beautiful neighborhood pool and clubhouse also has a stocked lake for fishing. This beautiful 4 bedroom 2 bathroom home is a split plan. Kitchen contains a large bar with beautiful granite, custom cabinets and gas range. It opens to the living room which is perfect for entertaining. The formal dining room is spacious enough for a large table. Spacious Master Suite hosts a large tiled shower and separate garden tub. Covered back porch with tongue and groove ceiling makes outdoor living easy! We have 10 different floorplans all at various stages of construction. Call today for your private showing.

ⓘ 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: $3,307 · $276/mo
• Projected year-2 tax: $3,307 · $276/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 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: $25,294
• − Mortgage interest: −$21,006
• − Property taxes: −$3,307
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,023
• − Management: −$2,023
• − HOA: −$684
• − Depreciation: −$10,909
• Taxable loss: −$16,534
• Est. tax savings @ 24.0%: +$3,968
• After-tax cash flow: $-5,514/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

• Census place: Flowood, MS
• County: Rankin County · 123,614 people
• City population: 9,222
• Metro: Jackson, MS
• Population (ZIP): 9,222
• Household income: $82,931
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 731.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 27% Hispanic / Latino 4% Asian 4% Two or more races 4%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% German/W. Germanic 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: ▲ 0.79%
• Current HPI: 163.9292
• Rent YoY: ▲ 6.57%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+25.8% since first listed

5 events — show timeline

• 2026-05-13 Pending — MLSU
• 2026-03-30 Price Changed $375,000 MLSU
• 2026-03-28 Listed $390,000 MLSU
• 2019-09-27 Sold (MLS) — MLSU
• 2019-04-02 Listed $298,000 MLSU

Property tax history

+42.1%/yr

Latest (2025): $3,307 · +1.6% YoY. Source: county tax records.