323 Old Hwy 45 · Shannon, MS 38868

$79,900

2 bd · 1.0 ba · 720 sqft · SingleFamily · 9 Days on market

Built 1990 5.00 ac lot ↓ 45% since listing

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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 +19.7/30.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

Key facts

• Tenant occupied
• Trees cleared
• Future development

Tags

• INVESTMENT OPPORTUNITY
• TENANT OCCUPIED
• 5 ACRES
• TREES CLEARED
• FUTURE DEVELOPMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($817 rent vs $80k).

Location & tenants

• Location reads 60/100 on livability (#215 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Lee County School District (rural): math 37% / reading 35% proficiency, ranked #51 of 130 in MS (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 154 units permitted in Lee County in 2024 (24 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($552 loan paydown + $5k appreciation (6.6% local appreciation)).
• Lee County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $79,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.43×
• Total profit: $32,092
• Equity at exit: $53,476

10-year hold

• IRR: 19.8%
• Equity multiple: 4.98×
• Total profit: $89,068
• Equity at exit: $99,911

Cash invested: $22,372 (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 38868

• Home prices YoY: 4.2%
• Active inventory: 18
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $817 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $94

Break-even live

Break-even rent $699

Max offer price $79,900

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $79,900 Active 9 DOM
2. 2026-06-18
   days on market $79,900 Active 8 DOM
3. 2026-06-17
   days on market $79,900 Active 7 DOM
4. 2026-06-16
   days on market $79,900 Active 6 DOM
5. 2026-06-15
   days on market $79,900 Active 5 DOM
6. 2026-06-14
   days on market $79,900 Active 3 DOM
7. 2026-06-12
   pricedays on marketlisting id $79,900 Active 2 DOM
8. 2026-06-09
   days on market $110,000 Active 181 DOM
9. 2026-06-08
   days on market $110,000 Active 180 DOM
10. 2026-06-07
    days on market $110,000 Active 179 DOM
11. 2026-06-02
    days on market $110,000 Active 174 DOM
12. 2026-06-01
    days on market $110,000 Active 173 DOM
13. 2026-05-31
    days on market $110,000 Active 172 DOM
14. 2026-05-30
    days on market $110,000 Active 171 DOM
15. 2026-05-12
    price $110,000 294-char remark

    Show marketing remark (294 chars)

    Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

16. 2026-03-23
    price $120,000 294-char remark

    Show marketing remark (294 chars)

    Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

17. 2026-02-24
    price $129,900 294-char remark

    Show marketing remark (294 chars)

    Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

18. 2026-01-22
    price $150,000 294-char remark

    Show marketing remark (294 chars)

    Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

19. 2026-01-05
    price $189,900 294-char remark

    Show marketing remark (294 chars)

    Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

20. 2025-12-10
    listed $199,900 Active 294-char remark

    Show marketing remark (294 chars)

    Great investment opportunity! This 2/1 home is currently tenant occupied and already generating income. The property includes 5 acres, with a portion of the trees cleared last year, providing an excellent opportunity for building or future development! Sellers are related to the listing agent.

ⓘ 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 7/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $9,808
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$785
• − Management: −$785
• − Depreciation: −$2,324
• Taxable loss: −$159
• Est. tax savings @ 24.0%: +$38
• After-tax cash flow: $1,161/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: Lee County School District
• NCES district ID: 2802550
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $41,435
• Composite: 30.38/100
• National rank: #6253
• State rank: #51 of 130 in MS

Livability — Shannon

• Score: 60/100
• State rank: #215
• US rank: #18837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shannon, MS
• Population (ZIP): 4,700

Population outlook (Lee County) Hauer SSP2

• Today (2025): 90,253 people
• By 2030: 92,125 · +2.1%
• By 2040: 94,914 · +5.2%
• By 2050: 95,841 · +6.2%
• By 2075: 94,189 · +4.4%
• By 2100: 83,736 · -7.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (51%)
• Race & ethnicity: White 51% Black 44% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.9% · Other 1.1%
• 2008→2024 swing: -8.3pp toward R · 2008: -30.5pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+32.5 2016: R+37.7 2012: R+29.0 2008: R+30.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.64%
• Current HPI: 163.2335
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-45.0% since first listed

6 events — show timeline

• 2026-05-12 Price Changed $110,000 NEMSBD
• 2026-03-23 Price Changed $120,000 NEMSBD
• 2026-02-24 Price Changed $129,900 NEMSBD
• 2026-01-22 Price Changed $150,000 NEMSBD
• 2026-01-05 Price Changed $189,900 NEMSBD
• 2025-12-10 Listed $199,900 NEMSBD