404 Monroe St · Ellisville, MS 39437

$174,900

3 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 28 Days on market

Built 1968

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located just steps from South Jones High School, 404 Monroe St is a neat fully updated home offering modern upgrades, functional space, and convenience all in one package. Inside, you'll find fresh updates throughout including a brand-new roof, gorgeous quartz countertops, freshly painted cabinets, new flooring, updated bathroom tile, and a full set of new appliances ready for move-in day. The home also features a new rear French door that brings in great natural light and adds easy access to the backyard. Additional improvements include new GFCI outlets and new smoke alarms throughout for added peace of mind. One of the standout features is the attached 21x21 metal building connected to th

Key facts

• Quartz countertops
• New flooring
• New appliances

Tags

• NEW ROOF
• QUARTZ COUNTERTOPS
• FRESHLY PAINTED CABINETS
• NEW FLOORING
• UPDATED BATHROOM TILE
• NEW APPLIANCES

Property features AI

Exterior

• Parking: Attached carport; 2 carport spaces; Driveway (paved)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick veneer exterior; Slab foundation
• Exterior features: Storage; Porch (front and rear); Patio; Privacy fencing in back yard

Interior

• Flooring: Laminate; Ceramic tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric air conditioning
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#123 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety D, schools D-, amenities F.
• Jones County School District (rural): math 40% / reading 39% proficiency, ranked #40 of 130 in MS (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 23 units permitted in Jones County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Jones County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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 $172,276 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $41,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 South Deason St	0.72mi	2/2.0 (-1)	1,240 (-6%)	22mo	$39,500	$32	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-4,662
• Equity at exit: $26,078

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $26,514
• Equity at exit: $15,122

Cash invested: $48,972 (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 39437

• Home prices YoY: -20.6%
• Active inventory: 92
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $371

Break-even live

Break-even rent $1,530

Max offer price $174,900

Occupancy floor 76%

Sensitivity live

Price	-10% $492	-5% $432	+0% $371	+5% $311	+10% $250
Rent	-10% $213	-5% $292	+0% $371	+5% $450	+10% $529
Rate	-1.0pp $459	-0.5pp $416	base $371	+0.5pp $326	+1.0pp $280

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Highway 11 N Ellisville, MS	3.0	2.0	1512	$2,000	$1.32	22d	1	0.65mi

Listing history 17 events

1. 2026-06-18
   status $174,900 Pending 28 DOM
2. 2026-06-17
   days on market $174,900 Active 28 DOM
3. 2026-06-16
   days on market $174,900 Active 27 DOM
4. 2026-06-15
   days on market $174,900 Active 26 DOM
5. 2026-06-14
   days on market $174,900 Active 24 DOM
6. 2026-06-13
   pricedays on market $174,900 Active 23 DOM
7. 2026-06-10
   days on market $176,900 Active 21 DOM
8. 2026-06-09
   pricedays on market $176,900 Active 20 DOM
9. 2026-06-08
   days on market $177,900 Active 19 DOM
10. 2026-06-07
    pricedays on market $177,900 Active 18 DOM
11. 2026-06-05
    days on market $178,900 Active 15 DOM
12. 2026-06-03
    days on market $178,900 Active 14 DOM
13. 2026-06-02
    pricedays on market $178,900 Active 13 DOM
14. 2026-06-01
    days on market $179,900 Active 12 DOM
15. 2026-05-31
    days on market $179,900 Active 11 DOM
16. 2026-05-30
    days on market $179,900 Active 10 DOM
17. 2026-05-21
    listed $179,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,088
• Taxable income: $1,777
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $4,029/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: Jones County School District
• NCES district ID: 2802280
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $41,051
• Composite: 33.24/100
• National rank: #5520
• State rank: #40 of 130 in MS

Livability — Ellisville

• Score: 64/100
• State rank: #123
• US rank: #13645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellisville, MS
• City population: 12,287
• Population (ZIP): 12,287

Population outlook (Jones County) Hauer SSP2

• Today (2025): 68,800 people
• By 2030: 68,773 · +-0.0%
• By 2040: 68,087 · -1.0%
• By 2050: 66,241 · -3.7%
• By 2075: 58,600 · -14.8%
• By 2100: 45,744 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 16% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Jones

• 2024 margin: Solid R (+46.8) · D 26.2% · R 73.0%
• 2008→2024 swing: -8.2pp toward R · 2008: -38.6pp · 2024: -46.8pp
• All cycles: 2024: R+46.8 2020: R+42.2 2016: R+43.6 2012: R+38.2 2008: R+38.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.84%
• Current HPI: 142.2369
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-21 Listed $179,900 HAAR

Property tax history

-0.9%/yr

Latest (2025): $5 · -3.8% YoY. Source: county tax records.