1106 E Myrtle St · Philadelphia, MS 39350

$79,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily · 79 Days on market

Built 1930 Poor condition 0.48 ac lot $73/sqft · 33% above area Est $59k · 33% over

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Why this score? — see what drove the C- 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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment property featuring a 2-bedroom, 1-bath home with a storage shed and car shelter. The home is currently leased for $850 per month.

Key facts

• Storage shed
• Car shelter
• 0.48 acre lot

Tags

• STORAGE SHED
• CAR SHELTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $79k).
• Recommended offer: $74k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#194 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Philadelphia Public School District (town): math 23% / reading 19% proficiency, ranked #92 of 130 in MS (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 65 active listings in the ZIP; 1 units permitted in Neshoba County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Neshoba County population projected at -12% 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.21% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.18%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $59,267
• List price: $79,000
• Delta: 33.29%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $344
• Equity at exit: $11,779

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $17,267
• Equity at exit: $6,830

Cash invested: $22,120 (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 39350

• Home prices YoY: -20.7%
• Active inventory: 65
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $952 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $206

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 73%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $79,000 Active 79 DOM
2. 2026-06-17
   days on market $79,000 Active 78 DOM
3. 2026-06-16
   days on market $79,000 Active 77 DOM
4. 2026-06-15
   days on market $79,000 Active 76 DOM
5. 2026-06-13
   days on market $79,000 Active 74 DOM
6. 2026-06-12
   days on market $79,000 Active 73 DOM
7. 2026-06-09
   days on market $79,000 Active 70 DOM
8. 2026-06-08
   days on market $79,000 Active 69 DOM
9. 2026-06-07
   days on market $79,000 Active 68 DOM
10. 2026-06-07
    days on market $79,000 Active 67 DOM
11. 2026-06-04
    days on market $79,000 Active 64 DOM
12. 2026-06-02
    days on market $79,000 Active 63 DOM
13. 2026-06-01
    days on market $79,000 Active 62 DOM
14. 2026-05-31
    days on market $79,000 Active 61 DOM
15. 2026-03-31
    listed $79,000 Active 140-char remark

    Show marketing remark (140 chars)

    Investment property featuring a 2-bedroom, 1-bath home with a storage shed and car shelter. The home is currently leased for $850 per month.

16. 2023-11-07
    soldstatus Closed 66-char remark

    Show marketing remark (66 chars)

    2 bedroom 1 bath with work shop Great starter home or rental unit.

17. 2023-09-19
    historical Active Under Contract 66-char remark

    Show marketing remark (66 chars)

    2 bedroom 1 bath with work shop Great starter home or rental unit.

18. 2023-08-24
    status Active 66-char remark

    Show marketing remark (66 chars)

    2 bedroom 1 bath with work shop Great starter home or rental unit.

19. 2023-07-24
    historical Active Under Contract 66-char remark

    Show marketing remark (66 chars)

    2 bedroom 1 bath with work shop Great starter home or rental unit.

20. 2023-07-20
    listed $69,000 Active 66-char remark

    Show marketing remark (66 chars)

    2 bedroom 1 bath with work shop Great starter home or rental unit.

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $11,425
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$914
• − Management: −$914
• − Depreciation: −$2,298
• Taxable income: $1,293
• Est. tax owed @ 24.0%: −$310
• After-tax cash flow: $2,164/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major landscaping and curb appeal improvements. Updates to the interior, HVAC, and kitchen/bathroom would significantly increase its resale and rental value.

Repairs flagged

• Major Overgrown lawn and debris — Significant overgrowth and debris indicate major neglect
• Major General exterior maintenance — Overgrown lawn and debris suggest major neglect

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhanced curb appeal can attract both buyers and renters
• Both Interior painting and minor repairs — Fresh paint and minor repairs can improve the home's appearance and functionality
• Both HVAC and mechanical updates — Up-to-date HVAC and mechanical systems can improve comfort and energy efficiency
• Both Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can significantly increase the home's value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Overgrown lawn and debris · Significant overgrowth and debris indicate major neglect	Major	$15,000–50,000
General exterior maintenance · Overgrown lawn and debris suggest major neglect	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhanced curb appeal can attract both buyers and renters ↑
• Both Interior painting and minor repairs — Fresh paint and minor repairs can improve the home's appearance and functionality ↑
• Both HVAC and mechanical updates — Up-to-date HVAC and mechanical systems can improve comfort and energy efficiency ↑
• Both Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can significantly increase the home'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: Philadelphia Public School District
• NCES district ID: 2803600
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 19% ▼ -8.00%
• Median HH income: $33,095
• Composite: 17.15/100
• National rank: #9113
• State rank: #92 of 130 in MS

Livability — Philadelphia

• Score: 61/100
• State rank: #194
• US rank: #17805

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Philadelphia, MS
• City population: 23,949
• Population (ZIP): 23,949

Population outlook (Neshoba County) Hauer SSP2

• Today (2025): 28,648 people
• By 2030: 28,078 · -2.0%
• By 2040: 26,782 · -6.5%
• By 2050: 25,184 · -12.1%
• By 2075: 20,989 · -26.7%
• By 2100: 16,576 · -42.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Black 24% Native American 20% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Iranian 1% Italian 1%
• Foreign-born: 1%

Political lean MEDSL · Neshoba

• 2024 margin: Solid R (+50.9) · D 24.1% · R 75.1%
• 2008→2024 swing: -6.2pp toward R · 2008: -44.7pp · 2024: -50.9pp
• All cycles: 2024: R+50.9 2020: R+43.2 2016: R+47.4 2012: R+43.5 2008: R+44.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.97%
• Current HPI: 133.8009
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+14.5% since first listed

6 events — show timeline

• 2026-03-31 Listed $79,000 EMR
• 2023-11-07 Sold (MLS) — EMR
• 2023-09-19 Contingent — EMR
• 2023-08-24 Relisted — EMR
• 2023-07-24 Contingent — EMR
• 2023-07-20 Listed $69,000 EMR