283 Monroe Rd SE

Bude, MS 39653

$61,500B

2 bd · 2.0 ba · 1,376 sqft · Built 1930 · SingleFamily · Pending · 246 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,106/mo
• Mortgage (P&I): −$323
• Tax + insurance: −$40
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $511/mo
• Annual: $6,136/yr
• Cap rate: 16.27%
• Cash-on-cash: 35.63%
• DSCR: 2.59
• 1% rule: 1.80%
• Cash to close: $17,220

Investor read

• This is a 2-bed/2.0-bath single-family listed at $62k.
• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 246 days — a 12% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($425 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#248 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Franklin County School District (rural): math 38% / reading 37% proficiency, ranked #50 of 130 in MS (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Franklin Lower Elementary (math 67% / reading 52%, grade B-, #27 of 375 statewide, top 8%, 381 students, 99% FRL); Franklin Upper Elementary (math 35% / reading 37%, grade F, #78 of 179 statewide, top 44%, 235 students, 99% FRL); Franklin High School (math 12% / reading 32%, grade F, #119 of 197 statewide, top 64%, 391 students, 99% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP.
• Franklin County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $34k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.