128 Seville Way · Madison, MS 39110

$294,900

3 bd · 4.0 ba · 1,591 sqft · SingleFamily public records · 48 Days on market

Built 2003 10,018 sqft lot $185/sqft · 8% below area Est $317k · 7% under $87/mo HOA · 3% of rent

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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 +18.6/30.0
• ARV discount +10.7/15.0
• DSCR +5.9/10.0
• Schools +4.8/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into the serene elegance of this beautiful 3-bedroom, 2-bath split plan nestled in the picturesque Lake Caroline community of Madison. As you walk into the foyer, you're greeted by an inviting open layout, where the dining room seamlessly blends into the living room, adorned with soaring ceilings, pristine wood floors, and a cozy corner fireplace. The heart of this home lies in the well-appointed kitchen, complete with a charming kitchen nook overlooking the privacy-fenced backyard. Located in the sought-after Germantown School Zone, this property qualifies for USDA 100% financing, making it an ideal opportunity for qualified buyers. Lake Caroline offers an array of amenities, including community pools, clubhouse, a golf course, picturesque walking trails, and an expansive 850-acre recreational lake plus, The Mermaid restaurant is just moments away. Don't miss your chance to experience living in this lakeside community. Contact your trusted realtor today to schedule a private showing.

Key facts

• 0.23 acre lot
• 2 garage spots
• Community pool

Property features AI

Finance

• HOA & community: Homeowners association with annual fee; Annual association fee of $1,045; Community amenities include clubhouse, pool, playground, tennis courts, golf, marina, boating, fishing, hiking/walking trails, restaurant, RV/boat storage

Exterior

• Parking: Attached concrete 2-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Single-family house; One story; Move-in ready
• Construction: Brick construction; Architectural shingle roof; Slab foundation; Built (year source: public records)
• Exterior features: Front porch; Back yard with privacy fencing; City lot, level

Interior

• Kitchen: Built-in electric range; Self-cleaning oven; Microwave; Dishwasher; Disposal; Refrigerator; Exhaust fan; Pantry
• Bedrooms: Bedrooms available (specific count not provided)
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Fireplace heating; Central air conditioning (electric); Ceiling fans
• Interior features: Ceiling fans; Crown molding; Double vanity; Entrance foyer; High-speed internet available; Open floor plan; Pantry; Recessed lighting; Soaking tub; Tray ceiling(s); Walk-in closet(s); Dead bolt locks on doors; Double-pane, insulated windows; Gas log fireplace in den
• Laundry & utility: Laundry room with washer and electric dryer hookups (inside)

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $289 ($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 $275k (6.7% below list).
• Recommended offer: $275k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.7% in Madison — 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 81/100 on livability (#4 in MS, #1,556 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mannsdale Elementary (633 students, 100% FRL); Germantown Middle School (math 55% / reading 58%, grade B, #14 of 179 statewide, top 7%, 1,008 students, 100% FRL); Germantown High School (math 34% / reading 41%, grade F, #59 of 197 statewide, top 30%, 1,396 students, 100% FRL) — zoned schools average 100% FRL vs 29% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 628 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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

• 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 $275,080 (6.7% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.93% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.20%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $317,425
• List price: $294,900
• Delta: -7.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 Seville Way	0.01mi	3/2.0	1,544 (-3%)	6mo	$299,000	$194	81
163 Seville Way	0.19mi	3/2.0	1,604 (+1%)	6mo	$299,000	$186	77
136 Prescott Rdg	0.31mi	3/2.0	1,645 (+3%)	3mo	$299,000	$182	70
112 Hampton Rdg	0.42mi	3/2.0	1,555 (-2%)	6mo	$289,000	$186	64
118 Hampton Rdg	0.44mi	3/2.0	1,621 (+2%)	11mo	$309,900	$191	59
149 Hampton Pl	0.54mi	3/2.0	1,593 (+0%)	12mo	$310,000	$195	57
117 Hampton Pl	0.44mi	3/2.0	1,691 (+6%)	9mo	$329,700	$195	54
135 Hampton Rdg	0.54mi	3/2.0	1,764 (+11%)	4mo	$340,000	$193	46
140 Hampton Rdg	0.60mi	3/2.5	1,804 (+13%)	3mo	$350,000	$194	41
115 Hampstead Dr	0.61mi	3/2.0	1,808 (+14%)	7mo	$359,900	$199	35
106 Hutto Ln	0.67mi	3/2.0	1,810 (+14%)	11mo	$379,000	$209	29
108 Hutto Ln	0.67mi	3/2.0	1,810 (+14%)	11mo	$379,000	$209	28

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 · 2.61% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-30,523
• Equity at exit: $43,971

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-7,490
• Equity at exit: $25,498

Cash invested: $82,572 (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 39110

• Home prices YoY: -28.3%
• Rents YoY: 2.6%
• Active inventory: 628
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,751 medium
• Mortgage (P&I): −$1,546
• Tax from tax record: −$128 /mo · $1,536/yr
• Insurance: −$123
• HOA: −$87
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $289

Break-even live

Break-even rent $2,385

Max offer price $294,900

Occupancy floor 84%

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Mason Way Madison, MS	3.0	2.0	1614	$2,600	$1.61	43d	1	1.03mi
125 Memory Ln Madison, MS	3.0	2.0	1838	$2,800	$1.52	23d	1	1.29mi

HOA detail

• Monthly dues: $87 · $1,044/yr
• Likely covers: pool

Listing history 34 events

1. 2026-06-18
   days on market $294,900 Active 48 DOM
2. 2026-06-17
   days on market $294,900 Active 47 DOM
3. 2026-06-16
   days on market $294,900 Active 46 DOM
4. 2026-06-15
   days on market $294,900 Active 45 DOM
5. 2026-06-14
   days on market $294,900 Active 43 DOM
6. 2026-06-10
   days on market $294,900 Active 40 DOM
7. 2026-06-09
   days on market $294,900 Active 39 DOM
8. 2026-06-08
   days on market $294,900 Active 38 DOM
9. 2026-06-07
   days on market $294,900 Active 37 DOM
10. 2026-06-03
    days on market $294,900 Active 33 DOM
11. 2026-06-02
    days on market $294,900 Active 32 DOM
12. 2026-06-01
    days on market $294,900 Active 31 DOM
13. 2026-05-31
    days on market $294,900 Active 30 DOM
14. 2026-05-30
    days on market $294,900 Active 29 DOM
15. 2026-05-01
    listed $299,000 Active 211-char remark
16. 2024-05-21
    soldstatus
17. 2024-05-17
    soldstatus Closed 1004-char remark

    Show marketing remark (1004 chars)

    Step into the serene elegance of this beautiful 3-bedroom, 2-bath split plan nestled in the picturesque Lake Caroline community of Madison. As you walk into the foyer, you're greeted by an inviting open layout, where the dining room seamlessly blends into the living room, adorned with soaring ceilings, pristine wood floors, and a cozy corner fireplace. The heart of this home lies in the well-appointed kitchen, complete with a charming kitchen nook overlooking the privacy-fenced backyard. Located in the sought-after Germantown School Zone, this property qualifies for USDA 100% financing, making it an ideal opportunity for qualified buyers. Lake Caroline offers an array of amenities, including community pools, clubhouse, a golf course, picturesque walking trails, and an expansive 850-acre recreational lake plus, The Mermaid restaurant is just moments away. Don't miss your chance to experience living in this lakeside community. Contact your trusted realtor today to schedule a private showing.

18. 2024-04-08
    status Pending 1004-char remark

    Show marketing remark (1004 chars)

    Step into the serene elegance of this beautiful 3-bedroom, 2-bath split plan nestled in the picturesque Lake Caroline community of Madison. As you walk into the foyer, you're greeted by an inviting open layout, where the dining room seamlessly blends into the living room, adorned with soaring ceilings, pristine wood floors, and a cozy corner fireplace. The heart of this home lies in the well-appointed kitchen, complete with a charming kitchen nook overlooking the privacy-fenced backyard. Located in the sought-after Germantown School Zone, this property qualifies for USDA 100% financing, making it an ideal opportunity for qualified buyers. Lake Caroline offers an array of amenities, including community pools, clubhouse, a golf course, picturesque walking trails, and an expansive 850-acre recreational lake plus, The Mermaid restaurant is just moments away. Don't miss your chance to experience living in this lakeside community. Contact your trusted realtor today to schedule a private showing.

19. 2024-04-04
    listed $279,000 Active 1004-char remark

    Show marketing remark (1004 chars)

    Step into the serene elegance of this beautiful 3-bedroom, 2-bath split plan nestled in the picturesque Lake Caroline community of Madison. As you walk into the foyer, you're greeted by an inviting open layout, where the dining room seamlessly blends into the living room, adorned with soaring ceilings, pristine wood floors, and a cozy corner fireplace. The heart of this home lies in the well-appointed kitchen, complete with a charming kitchen nook overlooking the privacy-fenced backyard. Located in the sought-after Germantown School Zone, this property qualifies for USDA 100% financing, making it an ideal opportunity for qualified buyers. Lake Caroline offers an array of amenities, including community pools, clubhouse, a golf course, picturesque walking trails, and an expansive 850-acre recreational lake plus, The Mermaid restaurant is just moments away. Don't miss your chance to experience living in this lakeside community. Contact your trusted realtor today to schedule a private showing.

20. 2021-10-08
    historical
21. 2019-08-30
    soldstatus
22. 2019-08-29
    soldstatus
23. 2019-07-22
    listed $203,900
24. 2016-08-02
    soldstatus
25. 2016-07-29
    soldstatus
26. 2016-06-20
    listed $190,000
27. 2013-06-12
    soldstatus
28. 2013-06-07
    soldstatus
29. 2012-10-22
    listed $170,000
30. 2012-03-20
    listed $184,900
31. 2006-05-19
    soldstatus
32. 2006-05-15
    soldstatus
33. 2006-04-20
    listed $173,000
34. 2003-03-13
    soldstatus

ⓘ 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: $1,536 · $128/mo
• Projected year-2 tax: $2,330 · $194/mo
• Expected delta: +$794/yr (+$66/mo · 51.7%)

ⓘ 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 3/10 Moderate
• 🌡 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: $33,010
• − Mortgage interest: −$16,519
• − Property taxes: −$1,536
• − Insurance: −$1,474
• − Repairs & maintenance: −$2,641
• − Management: −$2,641
• − HOA: −$1,044
• − Depreciation: −$8,579
• Taxable loss: −$1,424
• Est. tax savings @ 24.0%: +$342
• After-tax cash flow: $3,807/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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Madison

• Score: 81/100
• State rank: #4
• US rank: #1556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Madison County · 75,005 people
• City population: 50,443
• Metro: Jackson, MS
• Population (ZIP): 50,443
• Household income: $125,506
• Rent vs Own: 9.1% rent · 90.9% own
• Severe rent burden: 227.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Asian 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.99%
• Current HPI: 154.6909
• Rent YoY: ▲ 2.61%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+70.5% since first listed

21 events — show timeline

• 2026-05-28 Price Changed $294,900 MLSU
• 2026-05-01 Listed $299,000 MLSU
• 2024-05-21 Sold (Public Records) — Public Records
• 2024-05-17 Sold (MLS) — MLSU
• 2024-04-08 Pending — MLSU
• 2024-04-04 Listed $279,000 MLSU
• 2021-10-08 Listing Removed — MLSU
• 2019-08-30 Sold (Public Records) — Public Records
• 2019-08-29 Sold (MLS) — MLSU
• 2019-07-22 Listed $203,900 MLSU
• 2016-08-02 Sold (Public Records) — Public Records
• 2016-07-29 Sold (MLS) — MLSU
• 2016-06-20 Listed $190,000 MLSU
• 2013-06-12 Sold (Public Records) — Public Records
• 2013-06-07 Sold (MLS) — MLSU
• 2012-10-22 Listed $170,000 MLSU
• 2012-03-20 Listed $184,900 MLSU
• 2006-05-19 Sold (Public Records) — Public Records
• 2006-05-15 Sold (MLS) — MLSU
• 2006-04-20 Listed $173,000 MLSU
• 2003-03-13 Sold (Public Records) — Public Records

Property tax history

-0.6%/yr

Latest (2025): $1,536 · +0.1% YoY. Source: county tax records.