1109 Corinne St · Hattiesburg, MS 39401

$128,500

2 bd · 1.0 ba · 1,037 sqft · SingleFamily public records · 113 Days on market

Built 1940 10,000 sqft lot $124/sqft · 9% below area Est $141k · 9% under ↓ 5% 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 +17.4/30.0
• ARV discount +11.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.4/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Precious 2 Bedroom Home in the Historic Oaks District! You won't often find homes at this price point in this prestigious and highly sought-after area of historic Hattiesburg. This charming two-bedroom, one-bath home also features a flex room perfect for an office, nursery, or hobby space. Enjoy the storybook curb appeal with a precious front porch, plus a spacious back porch ideal for entertaining. The property includes a rare separate garage, a large fenced yard, and beautiful mature oak trees that frame the home and add incredible character. Seller has recently installed a brand new gas line to the house and is open to an appliance package and or a home warranty with acceptable offer. Don't miss this opportunity to own in one of Hattiesburg's most beloved historic neighborhoods!

Key facts

• Fenced yard
• Separate garage
• Front porch

Tags

• HISTORIC OAKS DISTRICT
• FLEX ROOM
• FRONT PORCH
• BACK PORCH
• SEPARATE GARAGE
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $121k (5.5% below list).
• Recommended offer: $117k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 fast (+6.6%/yr); 261 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• This rent runs 35% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $888 of loan paydown is wiped out by about $4k 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 113 days — a 9% lower offer ($117k) 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

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $116,935 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• GRM: 8.8

CMA / ARV

• ARV (median comp): $140,923
• List price: $128,500
• Delta: -8.82%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 S 13th Ave	0.44mi	2/1.0	1,000 (-4%)	8mo	$134,500	$135	67
702 Mamie St	0.22mi	2/1.0	1,120 (+8%)	21mo	$139,000	$124	59
104 Independence Ave	0.27mi	3/2.0 (+1)	1,093 (+5%)	20mo	$139,900	$128	53
113 Pinehurst St	0.32mi	3/— (+1)	910 (-12%)	21mo	$138,900	$153	42
1506 Mamie St	0.60mi	2/1.0	1,142 (+10%)	21mo	$145,000	$127	37
503 Rebecca Ave	0.67mi	3/1.5 (+1)	1,127 (+9%)	13mo	$163,500	$145	37

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 · 6.56% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.72×
• Total profit: $-10,160
• Equity at exit: $19,160

10-year hold

• IRR: 6.1%
• Equity multiple: 1.53×
• Total profit: $18,973
• Equity at exit: $11,110

Cash invested: $35,980 (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 39401

• Rents YoY: 6.6%
• Active inventory: 261
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$674
• Tax from tax record: −$135 /mo · $1,617/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $97

Break-even live

Break-even rent $1,091

Max offer price $128,500

Occupancy floor 87%

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: $32,125
• Closing costs: $3,855
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 W Pine St Hattiesburg, MS	1.0–2.0	1.0–1.5	930	$1,200	$1.29	20d	1	0.18mi
112 Dearborne St Unit A Hattiesburg, MS	2.0	1.0	1000	$1,450	$1.45	20d	1	0.45mi
112 Dearborne St Unit B Hattiesburg, MS	2.0	2.0	1000	$1,450	$1.45	20d	1	0.45mi
1302 Hardy St Apt A Hattiesburg, MS	2.0	1.5	1000	$900	$0.90	43d	1	0.60mi
521 W Laurel Ave Hattiesburg, MS	1.0	1.0	750	$975	$1.30	43d	1	0.77mi
217 Patton Ave Hattiesburg, MS	3.0	1.0	1008	$1,300	$1.29	20d	1	1.07mi
107 Kimball Ave Hattiesburg, MS	3.0	1.0	1500	$1,375	$0.92	20d	1	1.17mi
416 N 19th Ave Hattiesburg, MS	2.0	1.0	1100	$1,250	$1.14	20d	1	1.36mi
307 S 23rd Ave Hattiesburg, MS	3.0	2.0	1300	$1,595	$1.23	43d	1	1.39mi

Listing history 4 events

1. 2026-05-08
   status Pending 793-char remark

   Show marketing remark (793 chars)

   Precious 2 Bedroom Home in the Historic Oaks District! You won't often find homes at this price point in this prestigious and highly sought-after area of historic Hattiesburg. This charming two-bedroom, one-bath home also features a flex room perfect for an office, nursery, or hobby space. Enjoy the storybook curb appeal with a precious front porch, plus a spacious back porch ideal for entertaining. The property includes a rare separate garage, a large fenced yard, and beautiful mature oak trees that frame the home and add incredible character. Seller has recently installed a brand new gas line to the house and is open to an appliance package and or a home warranty with acceptable offer. Don't miss this opportunity to own in one of Hattiesburg's most beloved historic neighborhoods!

2. 2026-04-16
   status Active 793-char remark

   Show marketing remark (793 chars)

   Precious 2 Bedroom Home in the Historic Oaks District! You won't often find homes at this price point in this prestigious and highly sought-after area of historic Hattiesburg. This charming two-bedroom, one-bath home also features a flex room perfect for an office, nursery, or hobby space. Enjoy the storybook curb appeal with a precious front porch, plus a spacious back porch ideal for entertaining. The property includes a rare separate garage, a large fenced yard, and beautiful mature oak trees that frame the home and add incredible character. Seller has recently installed a brand new gas line to the house and is open to an appliance package and or a home warranty with acceptable offer. Don't miss this opportunity to own in one of Hattiesburg's most beloved historic neighborhoods!

3. 2026-04-16
   price $128,500 793-char remark

   Show marketing remark (793 chars)

   Precious 2 Bedroom Home in the Historic Oaks District! You won't often find homes at this price point in this prestigious and highly sought-after area of historic Hattiesburg. This charming two-bedroom, one-bath home also features a flex room perfect for an office, nursery, or hobby space. Enjoy the storybook curb appeal with a precious front porch, plus a spacious back porch ideal for entertaining. The property includes a rare separate garage, a large fenced yard, and beautiful mature oak trees that frame the home and add incredible character. Seller has recently installed a brand new gas line to the house and is open to an appliance package and or a home warranty with acceptable offer. Don't miss this opportunity to own in one of Hattiesburg's most beloved historic neighborhoods!

4. 2026-01-13
   listed $135,000 Active 793-char remark

   Show marketing remark (793 chars)

   Precious 2 Bedroom Home in the Historic Oaks District! You won't often find homes at this price point in this prestigious and highly sought-after area of historic Hattiesburg. This charming two-bedroom, one-bath home also features a flex room perfect for an office, nursery, or hobby space. Enjoy the storybook curb appeal with a precious front porch, plus a spacious back porch ideal for entertaining. The property includes a rare separate garage, a large fenced yard, and beautiful mature oak trees that frame the home and add incredible character. Seller has recently installed a brand new gas line to the house and is open to an appliance package and or a home warranty with acceptable offer. Don't miss this opportunity to own in one of Hattiesburg's most beloved historic neighborhoods!

ⓘ 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: $1,617 · $135/mo
• Projected year-2 tax: $1,617 · $135/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°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: $14,564
• − Mortgage interest: −$7,198
• − Property taxes: −$1,617
• − Insurance: −$642
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,738
• Taxable loss: −$961
• Est. tax savings @ 24.0%: +$231
• After-tax cash flow: $1,391/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: Forrest County · 65,413 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 42,531
• Household income: $41,127
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 2534.0

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 0.57)
• Race & ethnicity: Black 52% White 40% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% 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: ▼ -148.93%
• Current HPI: 137.87
• Rent YoY: ▲ 6.56%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-4.8% since first listed

4 events — show timeline

• 2026-05-08 Pending — HAAR
• 2026-04-16 Relisted — HAAR
• 2026-04-16 Price Changed $128,500 HAAR
• 2026-01-13 Listed $135,000 HAAR

Property tax history

+2.5%/yr

Latest (2025): $1,617 · +18.4% YoY. Source: county tax records.