500 Poplar St · Summit, MS 39666

$99,900

3 bd · 1.5 ba · 1,568 sqft · SingleFamily public records · 60 Days on market

Built 1963 0.45 ac lot $64/sqft · 20% below area Est $126k · 20% under

---

Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located near the heart of downtown Summit, this 3 bedroom, 1.5 bath home features good bones for you to flex your creativity and skills. Home features an enclosed front porch, a partial basement for extra storage space, and a large workshop for even more room for hobbies and storage. All of this sits on a large corner lot of approximately 0.45 acres. Call today to schedule your showing!

Key facts

• Partial basement
• Large workshop
• Corner lot

Tags

• ENCLOSED FRONT PORCH
• PARTIAL BASEMENT
• LARGE WORKSHOP
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#172 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety C-, schools F, amenities F.
• Mccomb School District (town): math 15% / reading 16% proficiency, ranked #106 of 130 in MS (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 93% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 79 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pike County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($97k) 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 $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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 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?
5. 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.
6. 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.
7. 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: 1.63% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.28%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (median comp): $125,503
• List price: $99,900
• Delta: -20.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1030 Diane Cir	0.67mi	2/1.0 (-1)	1,400 (-11%)	5mo	$229,000	$164	40

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: 20.1%
• Equity multiple: 1.82×
• Total profit: $22,842
• Equity at exit: $14,895

10-year hold

• IRR: 28.3%
• Equity multiple: 3.51×
• Total profit: $70,188
• Equity at exit: $8,638

Cash invested: $27,972 (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 39666

• Home prices YoY: -34.3%
• Active inventory: 79
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,629 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$109 /mo · $1,310/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $613

Break-even live

Break-even rent $854

Max offer price $99,900

Occupancy floor 57%

Sensitivity live

Price	-10% $669	-5% $641	+0% $613	+5% $584	+10% $556
Rent	-10% $484	-5% $548	+0% $613	+5% $677	+10% $741
Rate	-1.0pp $663	-0.5pp $638	base $613	+0.5pp $587	+1.0pp $560

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $99,900 Active 60 DOM
2. 2026-06-18
   days on market $99,900 Active 58 DOM
3. 2026-06-17
   days on market $99,900 Active 57 DOM
4. 2026-06-16
   days on market $99,900 Active 56 DOM
5. 2026-06-15
   days on market $99,900 Active 55 DOM
6. 2026-06-13
   days on market $99,900 Active 53 DOM
7. 2026-06-12
   days on market $99,900 Active 52 DOM
8. 2026-06-09
   pricedays on market $99,900 Active 49 DOM
9. 2026-06-08
   days on market $109,900 Active 48 DOM
10. 2026-06-07
    days on market $109,900 Active 47 DOM
11. 2026-06-07
    days on market $109,900 Active 46 DOM
12. 2026-06-04
    days on market $109,900 Active 43 DOM
13. 2026-06-02
    days on market $109,900 Active 42 DOM
14. 2026-06-01
    days on market $109,900 Active 41 DOM
15. 2026-05-31
    days on market $109,900 Active 40 DOM
16. 2026-04-20
    listed $109,900 Active 392-char remark

    Show marketing remark (392 chars)

    Located near the heart of downtown Summit, this 3 bedroom, 1.5 bath home features good bones for you to flex your creativity and skills. Home features an enclosed front porch, a partial basement for extra storage space, and a large workshop for even more room for hobbies and storage. All of this sits on a large corner lot of approximately 0.45 acres. Call today to schedule your showing!

ⓘ 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: $1,310 · $109/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°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: $19,553
• − Mortgage interest: −$5,596
• − Property taxes: −$1,310
• − Insurance: −$500
• − Repairs & maintenance: −$1,564
• − Management: −$1,564
• − Depreciation: −$2,906
• Taxable income: $6,113
• Est. tax owed @ 24.0%: −$1,467
• After-tax cash flow: $5,884/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: Mccomb School District
• NCES district ID: 2802880
• Math proficiency: 15% ▼ -20.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $29,855
• Composite: 12.26/100
• National rank: #9645
• State rank: #106 of 130 in MS

Livability — Summit

• Score: 62/100
• State rank: #172
• US rank: #16320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, MS
• Population (ZIP): 11,985

Population outlook (Pike County) Hauer SSP2

• Today (2025): 38,766 people
• By 2030: 37,874 · -2.3%
• By 2040: 35,743 · -7.8%
• By 2050: 33,276 · -14.2%
• By 2075: 26,799 · -30.9%
• By 2100: 18,562 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 36% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 0% · China

Political lean MEDSL · Pike

• 2024 margin: Toss-up / Even · D 47.8% · R 51.3%
• 2008→2024 swing: -7.0pp toward R · 2008: 3.5pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+1.0 2016: R+0.7 2012: D+7.6 2008: D+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.48%
• Current HPI: 113.9026
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-20 Listed $109,900 MLSU

Property tax history

+8.9%/yr

Latest (2025): $1,310 · +15.1% YoY. Source: county tax records.