27942 57 Hwy

Leakesville, MS 39451

$229,000C

3 bd · 1.0 ba · 1,551 sqft · Built 1977 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,239/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$382
• HOA: −$0
• Vac / Maint / Mgmt: −$470
• Net cashflow: $186/mo
• Annual: $2,233/yr
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• 1% rule: 0.98%
• Cash to close: $64,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $229k. Condition is rated fair.
• At list price, monthly cash flow is $186 ($2k/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 $224k (2.2% below list).
• It's been on market 40 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (8.8% local appreciation)).
• Location reads 65/100 on livability (#109 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities F, commute F, employment F.
• Greene County School District (rural): math 28% / reading 34% proficiency, ranked #67 of 130 in MS (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Greene County High School (math 37% / reading 47%, grade F, #43 of 197 statewide, top 24%, 440 students, 100% FRL) — zoned schools average 100% FRL vs 71% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 2 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y 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.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/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 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Paint — Paint appears faded and uneven.
• Major: Exterior siding — Siding appears weathered and in need of repainting.
• Moderate: Kitchen cabinets — Cabinets appear dated and could benefit from updating.
• Moderate: Bathroom fixtures — Fixtures appear outdated and could be replaced.
• Major: Landscaping — Landscaping is sparse and in need of maintenance and updates.