121 N Mcdonnell St · Okolona, MS 38860

$55,000

3 bd · 1.0 ba · 3,418 sqft · SingleFamily public records · 375 Days on market

Built 1958 0.49 ac lot $16/sqft · 10% below area Est $61k · 10% under ↓ 50% since listing

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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 +30.0/30.0
• ARV discount +11.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

All offers from interested buyers must be submitted online at www. auction.com during the auction period. 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums apply) and minimum earnest money applies. All bids subject to management approval. Check website for details. 4 Bedroom/ 3.5 bath with a single attached carport. Property is situated on approx. .49 acre lot with a large bonus/ extra living room, fenced backyard, shed & playhouse . If Property was built 1978 or prior to, Lead Based Paint Potentially Exists. All information deemed reliable. We do not warrant lot size or sqft. Buyers are responsible for verifying all taxes, schools and information before making

Key facts

• Shed
• Playhouse
• Fenced backyard

Tags

• FENCED BACKYARD
• LARGE BONUS LIVING ROOM
• SHED
• PLAYHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#191 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Okolona Separate School District (rural): math 24% / reading 17% proficiency, ranked #93 of 130 in MS (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 7 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $180 of equity ($380 loan paydown + $-200 appreciation (-0.4% local appreciation)).
• Chickasaw County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 375 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $55k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 375 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.42% ✓
• Cap rate: 20.05%
• Cash-on-cash: 49.12%
• DSCR: 3.19
• GRM: 3.4

CMA / ARV

• ARV (median comp): $60,790
• List price: $55,000
• Delta: -9.52%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-0.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.1%
• Equity multiple: 3.44×
• Total profit: $37,650
• Equity at exit: $14,976

10-year hold

• IRR: 53.1%
• Equity multiple: 6.90×
• Total profit: $90,840
• Equity at exit: $17,226

Cash invested: $15,400 (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 38860

• Home prices YoY: -0.3%
• Active inventory: 25
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$108 /mo · $1,298/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $630

Break-even live

Break-even rent $531

Max offer price $55,000

Occupancy floor 48%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-01
   statusdays on market $55,000 Pending 375 DOM
2. 2026-05-11
   status Active
3. 2026-03-07
   price $55,000
4. 2026-02-27
   status Active
5. 2025-12-12
   price $60,000
6. 2025-11-03
   price $80,000
7. 2025-09-18
   status Active
8. 2025-08-18
   price $100,000
9. 2025-07-21
   status Active
10. 2025-06-23
    price $105,000
11. 2025-04-21
    listed $110,000 Active

ⓘ 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: $1,298 · $108/mo
• Projected year-2 tax: $1,298 · $108/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 ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $15,948
• − Mortgage interest: −$3,081
• − Property taxes: −$1,298
• − Insurance: −$275
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$1,600
• Taxable income: $7,142
• Est. tax owed @ 24.0%: −$1,714
• After-tax cash flow: $5,850/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: Okolona Separate School District
• NCES district ID: 2803390
• Math proficiency: 24% ▼ -13.00%
• Reading proficiency: 17% ▼ -7.00%
• Median HH income: $29,703
• Composite: 16.42/100
• National rank: #9191
• State rank: #93 of 130 in MS

Livability — Okolona

• Score: 61/100
• State rank: #191
• US rank: #17576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okolona, MS
• Population (ZIP): 6,313

Population outlook (Chickasaw County) Hauer SSP2

• Today (2025): 17,070 people
• By 2030: 16,849 · -1.3%
• By 2040: 16,419 · -3.8%
• By 2050: 15,899 · -6.9%
• By 2075: 14,445 · -15.4%
• By 2100: 12,062 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (55%)
• Race & ethnicity: Black 55% White 45%
• Common ancestry: Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Chickasaw

• 2024 margin: R (+13.7) · D 42.7% · R 56.4%
• 2008→2024 swing: -15.8pp toward R · 2008: 2.1pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+4.5 2016: R+6.1 2012: D+4.1 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.36%
• Current HPI: 128.2516
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-50.0% since first listed

10 events — show timeline

• 2026-05-11 Relisted — NEMSBD
• 2026-03-07 Price Changed $55,000 NEMSBD
• 2026-02-27 Relisted — NEMSBD
• 2025-12-12 Price Changed $60,000 NEMSBD
• 2025-11-03 Price Changed $80,000 NEMSBD
• 2025-09-18 Relisted — NEMSBD
• 2025-08-18 Price Changed $100,000 NEMSBD
• 2025-07-21 Relisted — NEMSBD
• 2025-06-23 Price Changed $105,000 NEMSBD
• 2025-04-21 Listed $110,000 NEMSBD

Property tax history

+6.7%/yr

Latest (2024): $1,298 · +0.2% YoY. Source: county tax records.