1561 Boone St · Tupelo, MS 38804

$89,500

2 bd · 1.0 ba · 938 sqft · SingleFamily · 51 Days on market

Built 1962 Fair condition 0.39 ac lot $95/sqft · 35% below area Est $138k · 35% under

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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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

!! ATTENTION INVESTORS !!2 BR, 1 BA home with a good paying tenant that wishes to continue to rent! Paved frontage in a quiet neighborhood. Located near ICC Tupelo Campus and just minutes from downtown Tupelo. All information deemed accurate, but IS NOT guaranteed by Broker or Seller.

Key facts

• 0.39 acre lot
• Built 1962
• Listed 51 days

🏷️ Possibly a rental listed for sale. The $89,500 price doesn't fit this home's estimated sale value (~$138,063) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#26 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools C-, amenities D+, employment D+.
• Tupelo Public School District (town): math 46% / reading 42% proficiency, ranked #28 of 130 in MS (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 172 active listings in the ZIP; 154 units permitted in Lee County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lee County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.38% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.27%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $138,063
• List price: $89,500
• Delta: -35.17%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.6%
• Equity multiple: 1.34×
• Total profit: $8,480
• Equity at exit: $13,345

10-year hold

• IRR: 17.8%
• Equity multiple: 2.48×
• Total profit: $37,030
• Equity at exit: $7,738

Cash invested: $25,060 (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 38804

• Active inventory: 172
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $361

Break-even live

Break-even rent $783

Max offer price $89,500

Occupancy floor 66%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-01
   remarks 287-char remark
2. 2026-06-01
   status $89,500 Pending 51 DOM
3. 2026-04-01
   listed $89,500 Active 285-char remark

   Show marketing remark (285 chars)

   !! ATTENTION INVESTORS !!2 BR, 1 BA home with a good paying tenant that wishes to continue to rent! Paved frontage in a quiet neighborhood. Located near ICC Tupelo Campus and just minutes from downtown Tupelo. All information deemed accurate, but IS NOT guaranteed by Broker or Seller.

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $14,872
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,604
• Taxable income: $3,085
• Est. tax owed @ 24.0%: −$741
• After-tax cash flow: $3,586/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 · 7 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance to improve its curb appeal and value. The exterior siding and landscaping need attention, and painting the exterior would significantly enhance its appearance and value.

Repairs flagged

• Major exterior siding — Peeling paint and debris
• Major landscaping — Overgrown vegetation and debris
• Minor roof — No visible damage

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both clear debris — Improves safety and aesthetics
• Both prune vegetation — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Peeling paint and debris	Major	$15,000–50,000
landscaping · Overgrown vegetation and debris	Major	$15,000–50,000
roof · No visible damage	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both clear debris — Improves safety and aesthetics ↑
• Both prune vegetation — Enhances curb appeal and 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: Tupelo Public School District
• NCES district ID: 2804320
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $44,002
• Composite: 37.26/100
• National rank: #4456
• State rank: #28 of 130 in MS

Livability — Tupelo

• Score: 72/100
• State rank: #26
• US rank: #6369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tupelo, MS
• County: Lee County · 52,445 people
• City population: 46,551
• Metro: Tupelo, MS
• Population (ZIP): 16,693
• Household income: $64,420
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 642.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 90,253 people
• By 2030: 92,125 · +2.1%
• By 2040: 94,914 · +5.2%
• By 2050: 95,841 · +6.2%
• By 2075: 94,189 · +4.4%
• By 2100: 83,736 · -7.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 30% Two or more races 3% Hispanic / Latino 3% Native American 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.9% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -30.5pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+32.5 2016: R+37.7 2012: R+29.0 2008: R+30.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.19%
• Current HPI: 172.0153
• Rent YoY: —
• Metro: Tupelo, MS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-01 Listed $89,500 NEMSBD