221 N Main St · Petal, MS 39465

$285,000

None bd · None ba · — sqft · MultiFamily · 398 Days on market

Built 1991 Good condition 0.29 ac lot

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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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.3/10.0
• 1% rule +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Office / Residential duplex Unique opportunity. Front of the building is the office / clinic formally a dentist office. Specialty plumbing in the exam rooms. The back of the building is a totally renovated 3bed / 2bath apartment, open floor plan, covered porch, (check out pictures) ideal for someone fresh out of dental school, live at work!! Office side could be converted into a 4 bed, 1 full bath, 2 half bath apartment, It already has a kitchen! Also, entered as a commercial office MLS#142524.

Key facts

• Covered porch
• Totally renovated
• Open floor plan

Tags

• TOTALLY RENOVATED
• OPEN FLOOR PLAN
• COVERED PORCH
• CONVERTED INTO A 4 BED

What this means for you Summary

Snapshot

• This is a 1×3bd/2ba + 1×4bd/1ba units multifamily listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive. Per door: $134/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (0.6% below list).
• Recommended offer: $251k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.0% in Petal — 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 73/100 on livability (#18 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Petal School District (suburban): math 68% / reading 56% proficiency, ranked #2 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 228 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• At $2,832/mo this rent would consume 46% of the median local household income ($74k/yr) (locally 199% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 398 days — a 12% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 398 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.0%
• Equity multiple: 0.64×
• Total profit: $-29,089
• Equity at exit: $42,494

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-3,201
• Equity at exit: $24,642

Cash invested: $79,800 (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 39465

• Active inventory: 228
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $2,832 high
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $268

Break-even live

Break-even rent $2,493

Max offer price $285,000

Occupancy floor 86%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,321
1× unit	4	1	$1,512
Total (2 units)			$2,832

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 W 2nd Ave Unit C Petal, MS	1.0	1.0	—	$575	—	20d	1	0.15mi
120 E First Ave Petal, MS	2.0	1.0	1062	$995	$0.94	43d	1	0.24mi
201 Rosewood Dr Petal, MS	3.0	1.0	—	$1,200	—	20d	1	0.25mi
106 Hickory Dr Petal, MS	3.0	1.5	—	$1,850	—	43d	1	0.63mi
523 E Fifth Ave Petal, MS	3.0	1.0	1098	$1,500	$1.37	20d	1	0.75mi
801 Ogilsvie St Petal, MS	3.0	2.0	—	$1,800	—	43d	1	1.39mi

Listing history 18 events

1. 2026-06-19
   days on market $285,000 Active 398 DOM
2. 2026-06-18
   days on market $285,000 Active 397 DOM
3. 2026-06-17
   days on market $285,000 Active 396 DOM
4. 2026-06-16
   days on market $285,000 Active 395 DOM
5. 2026-06-15
   days on market $285,000 Active 394 DOM
6. 2026-06-14
   days on market $285,000 Active 392 DOM
7. 2026-06-13
   days on market $285,000 Active 391 DOM
8. 2026-06-10
   days on market $285,000 Active 389 DOM
9. 2026-06-09
   days on market $285,000 Active 388 DOM
10. 2026-06-08
    days on market $285,000 Active 387 DOM
11. 2026-06-07
    days on market $285,000 Active 386 DOM
12. 2026-06-05
    days on market $285,000 Active 383 DOM
13. 2026-06-02
    days on market $285,000 Active 381 DOM
14. 2026-06-01
    days on market $285,000 Active 380 DOM
15. 2026-05-31
    days on market $285,000 Active 379 DOM
16. 2026-05-30
    days on market $285,000 Active 378 DOM
17. 2025-11-20
    status Active 503-char remark

    Show marketing remark (503 chars)

    Office / Residential duplex Unique opportunity. Front of the building is the office / clinic formally a dentist office. Specialty plumbing in the exam rooms. The back of the building is a totally renovated 3bed / 2bath apartment, open floor plan, covered porch, (check out pictures) ideal for someone fresh out of dental school, live at work!! Office side could be converted into a 4 bed, 1 full bath, 2 half bath apartment, It already has a kitchen! Also, entered as a commercial office MLS#142524.

18. 2025-05-15
    listed $285,000 Active 503-char remark

    Show marketing remark (503 chars)

    Office / Residential duplex Unique opportunity. Front of the building is the office / clinic formally a dentist office. Specialty plumbing in the exam rooms. The back of the building is a totally renovated 3bed / 2bath apartment, open floor plan, covered porch, (check out pictures) ideal for someone fresh out of dental school, live at work!! Office side could be converted into a 4 bed, 1 full bath, 2 half bath apartment, It already has a kitchen! Also, entered as a commercial office MLS#142524.

ⓘ 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 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 21 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: $33,984
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,719
• − Management: −$2,719
• − Depreciation: −$8,291
• Taxable loss: −$1,409
• Est. tax savings @ 24.0%: +$338
• After-tax cash flow: $3,551/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

A well-maintained, recently renovated apartment with good curb appeal and updated interiors, ideal for rental or resale.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Petal School District
• NCES district ID: 2803530
• Math proficiency: 68% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $51,872
• Composite: 52.97/100
• National rank: #1526
• State rank: #2 of 130 in MS

Livability — Petal

• Score: 73/100
• State rank: #18
• US rank: #5565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petal, MS
• County: Forrest County · 65,413 people
• City population: 22,882
• Metro: Hattiesburg, MS
• Population (ZIP): 22,882
• Household income: $74,035
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 199.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Black 13% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -96.97%
• Current HPI: 158.6021
• Rent YoY: —
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2025-11-20 Relisted — HAAR
• 2025-05-15 Listed $285,000 HAAR