259 Gatewood Dr · Pearl, MS 39208

$192,500

3 bd · 2.0 ba · 1,175 sqft · SingleFamily public records · 6 Days on market

Built 1959 10,018 sqft lot Est $179k · 8% over

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Why this score? — see what drove the D+ 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 +20.4/30.0
• DSCR +6.5/10.0
• 1% rule +4.2/10.0
• Rent growth +4.1/5.0
• ARV discount +4.0/15.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great find in Pearl sitting on a large corner lot! This 1271 sq ft home makes a great use of space offering three bedrooms with a bonus room that could be used as a fourth bedroom. The living room is open to the dining room and the dining room opens to the kitchen offering flexibility and options for use of the space. The kitchen has stainless steel appliances and the main living areas have been freshly painted. This home has two full baths, one guest bathroom and the second bathroom is off the bonus room. Other great features of this home include: washer and dryer, refrigerator, and a two car garage. Call today to schedule your showing!

Key facts

• Big backyard
• Covered patio
• Outdoor space

Tags

• CORNER LOT
• BIG BACKYARD
• COVERED PATIO
• OUTDOOR SPACE
• OPEN LIVING AND DINING AREAS

Property features AI

Finance

• HOA & community: Street lights

Exterior

• Parking: 2-car garage, garage faces side; Concrete parking surfaces
• Security: Deadbolt locks
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-family house; One story; Slab foundation
• Construction: Masonry and siding construction; Asphalt roof; Built (year source: appraiser)
• Exterior features: Awning-covered patio and rear porch; Private, fenced backyard; Front yard; Corner lot; Street lights in neighborhood

Interior

• Kitchen: Dishwasher; Free-standing electric oven and range; Microwave; Refrigerator; Stainless steel appliances
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Laminate countertops; Deadbolt locks; Sliding doors; Aluminum window frames with double-pane windows; Dining room fireplace
• Laundry & utility: Laundry area in garage; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (8.3% below list).
• Recommended offer: $177k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 5.5% in Pearl — 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.

Location & tenants

• Location reads 73/100 on livability (#19 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Pearl Public School District (suburban): math 44% / reading 42% proficiency, ranked #32 of 130 in MS (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pearl Lower Elementary School (782 students, 100% FRL); Pearl Junior High School (math 46% / reading 40%, grade D-, #47 of 179 statewide, top 26%, 1,001 students, 100% FRL); Pearl High School (math 46% / reading 49%, grade D, #28 of 197 statewide, top 14%, 1,262 students, 100% FRL) — zoned schools average 100% FRL vs 57% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.3%/yr); 265 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 343 units permitted in Rankin County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rankin County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $176,574 (8.3% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.59%
• DSCR: 1.25
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $178,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 Gatewood Dr	0.09mi	3/1.0	1,028 (-12%)	2mo	$180,000	$175	69
2038 Ramona Dr	0.42mi	3/1.0	1,175 (0%)	14mo	$179,000	$152	64
1957 Lloyd St	0.29mi	3/2.0	1,275 (+8%)	18mo	$199,999	$157	57
117 Oak Park Dr	0.70mi	3/2.0	1,305 (+11%)	4mo	$175,000	$134	46
214 W Pine Dr	0.44mi	3/1.5	1,334 (+14%)	16mo	$195,000	$146	41
206 Oak Park Dr	0.73mi	3/1.0	1,300 (+11%)	10mo	$180,000	$138	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.34% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-9,169
• Equity at exit: $28,702

10-year hold

• IRR: 8.4%
• Equity multiple: 1.73×
• Total profit: $39,191
• Equity at exit: $16,644

Cash invested: $53,900 (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 39208

• Home prices YoY: -20.3%
• Rents YoY: 6.3%
• Active inventory: 265
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,766 medium
• Mortgage (P&I): −$1,009
• Tax from tax record: −$54 /mo · $652/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $251

Break-even live

Break-even rent $1,448

Max offer price $192,500

Occupancy floor 81%

Sensitivity live

Price	-10% $360	-5% $305	+0% $251	+5% $196	+10% $142
Rent	-10% $111	-5% $181	+0% $251	+5% $321	+10% $390
Rate	-1.0pp $348	-0.5pp $300	base $251	+0.5pp $201	+1.0pp $150

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: $48,125
• Closing costs: $5,775
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2144 Napoleon Ave Pearl, MS	3.0	2.0	1265	$1,550	$1.23	44d	1	1.11mi
200 Colony Park Dr Pearl, MS	1.0–3.0	1.0–2.0	1152	$1,790	$1.55	14d	18	1.12mi

Listing history 12 events

1. 2026-05-31
   days on market $192,500 Active 6 DOM
2. 2026-05-30
   days on market $192,500 Active 5 DOM
3. 2026-05-25
   listed $192,500 Active
4. 2022-04-01
   soldstatus
5. 2022-03-31
   soldstatus Closed 649-char remark

   Show marketing remark (649 chars)

   Great find in Pearl sitting on a large corner lot! This 1271 sq ft home makes a great use of space offering three bedrooms with a bonus room that could be used as a fourth bedroom. The living room is open to the dining room and the dining room opens to the kitchen offering flexibility and options for use of the space. The kitchen has stainless steel appliances and the main living areas have been freshly painted. This home has two full baths, one guest bathroom and the second bathroom is off the bonus room. Other great features of this home include: washer and dryer, refrigerator, and a two car garage. Call today to schedule your showing!

6. 2022-03-02
   status Pending 649-char remark

   Show marketing remark (649 chars)

   Great find in Pearl sitting on a large corner lot! This 1271 sq ft home makes a great use of space offering three bedrooms with a bonus room that could be used as a fourth bedroom. The living room is open to the dining room and the dining room opens to the kitchen offering flexibility and options for use of the space. The kitchen has stainless steel appliances and the main living areas have been freshly painted. This home has two full baths, one guest bathroom and the second bathroom is off the bonus room. Other great features of this home include: washer and dryer, refrigerator, and a two car garage. Call today to schedule your showing!

7. 2022-02-28
   listed $155,000 Active 649-char remark

   Show marketing remark (649 chars)

   Great find in Pearl sitting on a large corner lot! This 1271 sq ft home makes a great use of space offering three bedrooms with a bonus room that could be used as a fourth bedroom. The living room is open to the dining room and the dining room opens to the kitchen offering flexibility and options for use of the space. The kitchen has stainless steel appliances and the main living areas have been freshly painted. This home has two full baths, one guest bathroom and the second bathroom is off the bonus room. Other great features of this home include: washer and dryer, refrigerator, and a two car garage. Call today to schedule your showing!

8. 2011-05-31
   soldstatus 520-char remark

   Show marketing remark (520 chars)

   Great family home near Trustmark Park, Sam's and Bass Pro!! Spacious 4 bedroom, 2 bath has cozy fireplace with insert and a bright, sunny kitchen!! The back yard is perfect for entertaining with covered patio and privacy fence!! Plus, there's extra storage for all your toys and tools!! This is a Fannie Mae HomePath Property! You can purchase this property for as little as 3% down! This property is approved for HomePath Renovation Mortgage Financing!! This can be a great family home again, and it's waiting for you!!

9. 2011-02-15
   listed $69,900 520-char remark

   Show marketing remark (520 chars)

   Great family home near Trustmark Park, Sam's and Bass Pro!! Spacious 4 bedroom, 2 bath has cozy fireplace with insert and a bright, sunny kitchen!! The back yard is perfect for entertaining with covered patio and privacy fence!! Plus, there's extra storage for all your toys and tools!! This is a Fannie Mae HomePath Property! You can purchase this property for as little as 3% down! This property is approved for HomePath Renovation Mortgage Financing!! This can be a great family home again, and it's waiting for you!!

10. 2007-06-05
    soldstatus
11. 2007-05-31
    soldstatus
12. 2007-04-20
    listed $123,700

ⓘ 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: $652 · $54/mo
• Projected year-2 tax: $1,521 · $127/mo
• Expected delta: +$869/yr (+$72/mo · 133.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,189
• − Mortgage interest: −$10,783
• − Property taxes: −$652
• − Insurance: −$962
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$5,600
• Taxable loss: −$199
• Est. tax savings @ 24.0%: +$48
• After-tax cash flow: $3,059/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: Pearl Public School District
• NCES district ID: 2803520
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $42,525
• Composite: 36.29/100
• National rank: #4699
• State rank: #32 of 130 in MS

Livability — Pearl

• Score: 73/100
• State rank: #19
• US rank: #5662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pearl, MS
• County: Rankin County · 123,614 people
• City population: 34,442
• Metro: Jackson, MS
• Population (ZIP): 34,442
• Household income: $65,480
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1235.0

Population outlook (Rankin County) Hauer SSP2

• Today (2025): 164,317 people
• By 2030: 171,013 · +4.1%
• By 2040: 182,723 · +11.2%
• By 2050: 192,376 · +17.1%
• By 2075: 209,535 · +27.5%
• By 2100: 209,534 · +27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 31% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Common ancestry: Italian 5% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Rankin

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.0%
• 2008→2024 swing: +6.4pp toward D · 2008: -53.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+45.4 2016: R+52.9 2012: R+51.9 2008: R+53.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.11%
• Current HPI: 193.0609
• Rent YoY: ▲ 6.34%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+55.6% since first listed

10 events — show timeline

• 2026-05-25 Listed $192,500 MLSU
• 2022-04-01 Sold (Public Records) — Public Records
• 2022-03-31 Sold (MLS) — MLSU
• 2022-03-02 Pending — MLSU
• 2022-02-28 Listed $155,000 MLSU
• 2011-05-31 Sold (MLS) — MLSU
• 2011-02-15 Listed $69,900 MLSU
• 2007-06-05 Sold (Public Records) — Public Records
• 2007-05-31 Sold (MLS) — MLSU
• 2007-04-20 Listed $123,700 MLSU

Property tax history

+4.4%/yr

Latest (2025): $652 · +0.0% YoY. Source: county tax records.