103 Hanover Dr · Hattiesburg, MS 39402

$194,900

4 bd · 1.0 ba · 1,370 sqft · SingleFamily public records · 35 Days on market

Built 1962 0.33 ac lot $142/sqft · at area comps Est $208k · 6% under ↓ 2% 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 +18.2/30.0
• ARV discount +10.3/15.0
• DSCR +5.7/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Warm and inviting, this 4-bedroom, 1.5-bath home offers the perfect blend of comfort and convenience in a desirable Hattiesburg location. Inside, you'll find a welcoming layout filled with natural light--ideal for everyday living and creating lasting memories. The spacious backyard provides a great space for kids to play, weekend cookouts, or simply unwinding after a long day. With its cozy feel and convenient location near shopping, dining, and across the street from a walking track, this home is one you won't want to miss--schedule your showing today!

Key facts

• Spacious backyard
• Natural light
• 0.33 acre lot

Tags

• SPACIOUS BACKYARD
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick veneer and wood siding construction
• Exterior features: Storage; Fenced back yard

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric air conditioning
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $173 ($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 $175k (10.1% below list).
• Recommended offer: $175k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.0% in Hattiesburg — 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 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment F.
• Hattiesburg Public School District (urban): math 25% / reading 26% proficiency, ranked #81 of 130 in MS (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 499 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 121 units permitted in Forrest County in 2024 (30 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 $6k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $175,285 (10.1% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• GRM: 9.3

CMA / ARV

• ARV (median comp): $208,033
• List price: $194,900
• Delta: -6.31%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3035 Mesa Dr	0.20mi	3/2.0 (-1)	1,491 (+9%)	8mo	$209,500	$141	60
2919 Laramie Cir	0.32mi	3/1.5 (-1)	1,211 (-12%)	7mo	$165,000	$136	52
711 Monterrey Ln	0.27mi	3/2.0 (-1)	1,552 (+13%)	12mo	$179,000	$115	46

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-19,940
• Equity at exit: $29,060

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-665
• Equity at exit: $16,851

Cash invested: $54,572 (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 39402

• Rents YoY: 3.4%
• Active inventory: 499
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,753 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $173

Break-even live

Break-even rent $1,533

Max offer price $194,900

Occupancy floor 85%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 Lemoyne Ave Hattiesburg, MS	3.0	2.0	1550	$1,675	$1.08	43d	1	0.94mi
307 S 23rd Ave Hattiesburg, MS	3.0	2.0	1300	$1,595	$1.23	43d	1	0.98mi
200 Foxgate Ave Hattiesburg, MS	1.0–3.0	1.0–2.0	1013	$1,610	$1.59	21d	30	1.00mi
217 Patton Ave Hattiesburg, MS	3.0	1.0	1008	$1,300	$1.29	21d	1	1.28mi
107 Kimball Ave Hattiesburg, MS	3.0	1.0	1500	$1,375	$0.92	21d	1	1.47mi

Listing history 2 events

1. 2026-05-14
   price $194,900 559-char remark
2. 2026-04-23
   listed $198,700 Active 559-char remark

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $1,540 · $128/mo
• Expected delta: +$243/yr (+$20/mo · 18.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $21,034
• − Mortgage interest: −$10,917
• − Property taxes: −$1,297
• − Insurance: −$974
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$5,670
• Taxable loss: −$1,190
• Est. tax savings @ 24.0%: +$286
• After-tax cash flow: $2,366/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: Hattiesburg Public School District
• NCES district ID: 2801800
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $28,058
• Composite: 20.38/100
• National rank: #8595
• State rank: #81 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hattiesburg, MS
• County: Lamar County · 44,620 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 44,620
• Household income: $75,220
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 864.0

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.41%
• Current HPI: 163.5142
• Rent YoY: ▲ 3.37%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-1.9% since first listed

3 events — show timeline

• 2026-05-28 Pending — HAAR
• 2026-05-14 Price Changed $194,900 HAAR
• 2026-04-23 Listed $198,700 HAAR

Property tax history

+2.6%/yr

Latest (2025): $1,297 · +20.6% YoY. Source: county tax records.