600 NW Goodwater Rd · Magee, MS 39111

$18,500

3 bd · 1.0 ba · 1,334 sqft · SingleFamily public records · 493 Days on market

Built 1930 0.44 ac lot $14/sqft · 88% below area ↓ 26% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

Key facts

• Dead end roads
• 0.44 acre lot
• Listed 492 days

Tags

• ACCESS IN FRONT AND BACK
• DEAD END ROADS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 52.6% vs local median 3.6% in Magee — 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 63/100 on livability (#158 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $665 of equity ($128 loan paydown + $537 appreciation (2.9% local appreciation)).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 493 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $6k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $16,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 493 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. Crime grade is F 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 5.91% ✓
• Cap rate: 52.65%
• Cash-on-cash: 165.55%
• DSCR: 8.37
• GRM: 1.4

CMA / ARV

• ARV (median comp): $169,527
• List price: $18,500
• Delta: -89.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 NW Kennedy Dr	0.15mi	3/1.5	1,221 (-8%)	2mo	$169,000	$138	75
604 NW Goodwater Rd	0.02mi	3/1.5	1,274 (-4%)	24mo	$19,500	$15	70
704 NW Elm Ave	0.38mi	3/2.0	1,299 (-3%)	13mo	$167,270	$129	63
101 NE 3rd St	0.43mi	2/2.0 (-1)	1,300 (-2%)	7mo	$80,000	$62	61
801 NW Rankin	0.54mi	3/2.0	1,405 (+5%)	7mo	$195,000	$139	56
1305 Frances Ave	0.73mi	3/1.5	1,265 (-5%)	1mo	$149,900	$118	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.20×
• Total profit: $47,677
• Equity at exit: $8,215

10-year hold

• IRR: —
• Equity multiple: 21.48×
• Total profit: $106,103
• Equity at exit: $12,581

Cash invested: $5,180 (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 39111

• Home prices YoY: 1.8%
• Active inventory: 75
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,094 medium
• Mortgage (P&I): −$97
• Tax from tax record: −$45 /mo · $537/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $715

Break-even live

Break-even rent $189

Max offer price $18,500

Occupancy floor 30%

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: $4,625
• Closing costs: $555
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $18,500 Active 493 DOM
2. 2026-06-17
   days on market $18,500 Active 492 DOM
3. 2026-06-16
   days on market $18,500 Active 491 DOM
4. 2026-06-15
   days on market $18,500 Active 490 DOM
5. 2026-06-13
   days on market $18,500 Active 488 DOM
6. 2026-06-12
   days on market $18,500 Active 487 DOM
7. 2026-06-09
   days on market $18,500 Active 484 DOM
8. 2026-06-08
   days on market $18,500 Active 483 DOM
9. 2026-06-07
   days on market $18,500 Active 482 DOM
10. 2026-06-07
    days on market $18,500 Active 481 DOM
11. 2026-06-04
    days on market $18,500 Active 478 DOM
12. 2026-06-02
    days on market $18,500 Active 477 DOM
13. 2026-06-01
    days on market $18,500 Active 476 DOM
14. 2026-05-31
    days on market $18,500 Active 475 DOM
15. 2026-05-05
    price $18,500 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

16. 2026-01-15
    status Active 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

17. 2025-07-14
    status Active 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

18. 2025-05-28
    status Pending 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

19. 2025-05-28
    historical 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

20. 2025-02-16
    status Active 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

21. 2025-02-03
    historical Active Under Contract 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

22. 2024-09-13
    price $19,500 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

23. 2024-06-24
    listed $24,900 Active 99-char remark

    Show marketing remark (99 chars)

    Beautiful lot with access in front and back by dead end roads. Home is in need of lots of repairs.

24. 2009-12-28
    soldstatus $25,000

ⓘ 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: $537 · $45/mo
• Projected year-2 tax: $537 · $45/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 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $13,126
• − Mortgage interest: −$1,036
• − Property taxes: −$537
• − Insurance: −$92
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$538
• Taxable income: $8,822
• Est. tax owed @ 24.0%: −$2,117
• After-tax cash flow: $6,458/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: Simpson County School District
• NCES district ID: 2803990
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,826
• Composite: 17.46/100
• National rank: #9063
• State rank: #90 of 130 in MS

Livability — Magee

• Score: 63/100
• State rank: #158
• US rank: #15438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Magee, MS
• Population (ZIP): 8,927

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 26,197 people
• By 2030: 25,474 · -2.8%
• By 2040: 23,811 · -9.1%
• By 2050: 22,024 · -15.9%
• By 2075: 17,701 · -32.4%
• By 2100: 13,732 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 28% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+36.7) · D 31.4% · R 68.1%
• 2008→2024 swing: -14.3pp toward R · 2008: -22.4pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+30.4 2016: R+30.9 2012: R+22.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 161.8264
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-26.0% since first listed

10 events — show timeline

• 2026-05-05 Price Changed $18,500 MLSU
• 2026-01-15 Relisted — MLSU
• 2025-07-14 Relisted — MLSU
• 2025-05-28 Pending — MLSU
• 2025-05-28 Listing Removed — MLSU
• 2025-02-16 Relisted — MLSU
• 2025-02-03 Contingent — MLSU
• 2024-09-13 Price Changed $19,500 MLSU
• 2024-06-24 Listed $24,900 MLSU
• 2009-12-28 Sold (Public Records) $25,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $537 · +16.0% YoY. Source: county tax records.