1133 Longview

Greenville, MS 38703

$19,000D+

3 bd · 0.5 ba · 1,509 sqft · Built 1964 · Other · Pending · 210 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,358/mo
• Mortgage (P&I): −$100
• Tax + insurance: −$458
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $515/mo
• Annual: $6,180/yr
• Cap rate: 65.76%
• Cash-on-cash: 212.37%
• DSCR: 10.45
• 1% rule: 7.15%
• Cash to close: $5,320

Investor read

• This is a 3-bed/0.5-bath other listed at $19k.
• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $19k).
• It's been on market 210 days — a 12% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $17k (12.0% below list) — sets the bar for market timing.
• In year one you build about $345 of equity ($131 loan paydown + $214 appreciation (1.1% local appreciation)).
• Location reads 57/100 on livability (#284 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Greenville Public Schools (town): math 4% / reading 11% proficiency, ranked #126 of 130 in MS (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 93% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 19 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $11k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 37% 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.
• Cap rate 65.8% vs local median 4.5% in Greenville — 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.

Questions for listing agent

• It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.