51 Connie Dr

Oakland, MS 38658

$98,000B

3 bd · 2.0 ba · 1,569 sqft · Built 1972 · SingleFamily · Active · 245 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $298/mo
• Annual: $3,574/yr
• Cap rate: 9.94%
• Cash-on-cash: 13.02%
• DSCR: 1.58
• 1% rule: 1.23%
• Cash to close: $27,440

Investor read

• This is a 3-bed/2.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 245 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($678 loan paydown + $9k appreciation (9.7% local appreciation)).
• Location reads 51/100 on livability (#338 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D+, schools F, amenities F.
• South Panola School District (town): math 31% / reading 32% proficiency, ranked #65 of 130 in MS (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 10 units permitted in Panola County in 2024 (0 in 5+ unit buildings).
• Panola County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $70k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (9.7% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.
• 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.