304 E Sixth Ave · Petal, MS 39465

$199,500

3 bd · 2.0 ba · 1,764 sqft · SingleFamily public records · 2 Days on market

Built 1978 0.46 ac lot Est $219k · 9% under

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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 +14.3/30.0
• ARV discount +11.5/15.0
• Schools +5.3/10.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready, budget-friendly, and super-convenient in the heart of Petal with some of the most beautiful heart pine floors we have ever seen (reclaimed from an 1800s church)! Located at the end of a low traffic street complete with 2 car garage and fenced back yard. You'll also enjoy easy access for walking, jogging, biking, and strolling using the nearby Matthews Branch Sidewalk project that connects Petal City Park and Leaf River/East Hardy which is nearing completion. Current owners have taken care to prepare the home with fresh, neutral interior and exterior paint, carpet (where applicable). Super spacious with over 1800 square feet plus an additional 400 s. f. sunroom. Primary suite features 2 walk-in closets. The heart pine floors continue in the living room with built ins and electric fireplace as well as the the dining room and hallways. Kitchen features extensive counter space as well as a breakfast area. Attached workshop/storage area is accessible from garage and the rear of the home. Available for occupancy at closing!

Key facts

• Fenced back yard
• 0.46 acre lot
• 2 garage spots

Tags

• FENCED BACK YARD
• ATTACHED WORKSHOP STORAGE AREA

Property features AI

Finance

• HOA & community: Hiking/walking trails; Playground; Street lights

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; Garage faces side; Concrete parking surfaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-family residence (house); One level; Move-in ready
• Construction: Brick veneer construction; Slab foundation; Architectural shingle roof; Built (year source: assessor)
• Exterior features: Front porch; Patio; Fire pit; Garden; Other exterior amenities; Back yard fencing with gate (chain link)

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Exhaust fan; Refrigerator; Breakfast bar
• Bedrooms: Primary bedroom located downstairs
• Flooring: Carpet; Ceramic tile; Hardwood; See remarks
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric)
• Interior features: Bookcases; Ceiling fans; Crown molding; Pantry; Primary bedroom on main level; Storage; Walk-in closet(s); Breakfast bar; Electric fireplace in the great room; Blinds and other window coverings; Garden window(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-29 ($-351/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (18.9% below list).
• Recommended offer: $162k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Petal Elementary (math 71% / reading 62%, grade B+, #14 of 375 statewide, top 3%, 634 students, 100% FRL); Petal Middle School (math 72% / reading 55%, grade B+, #3 of 179 statewide, top 2%, 745 students, 100% FRL); Petal High School (math 53% / reading 49%, grade D+, #17 of 197 statewide, top 9%, 1,288 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 228 active listings in the ZIP; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 25y ago 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $161,830 (18.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.81% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $218,736
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Hegwood St	0.42mi	3/2.0	1,689 (-4%)	1mo	$184,800	$109	72
206 Margaret Ave	0.45mi	4/2.0 (+1)	1,769 (+0%)	15mo	$220,000	$124	62
113 Green St	0.22mi	3/2.0	1,500 (-15%)	5mo	$219,900	$147	61
142 W 5th Ave	0.54mi	4/1.5 (+1)	1,525 (-14%)	13mo	$189,500	$124	34

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-34,209
• Equity at exit: $29,746

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-32,264
• Equity at exit: $17,249

Cash invested: $55,860 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$1,046
• Tax from tax record: −$112 /mo · $1,343/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-29

Break-even live

Break-even rent $1,655

Max offer price $194,335

Occupancy floor 97%

Sensitivity live

Price	-10% $84	-5% $27	+0% $-29	+5% $-86	+10% $-142
Rent	-10% $-157	-5% $-93	+0% $-29	+5% $35	+10% $99
Rate	-1.0pp $71	-0.5pp $22	base $-29	+0.5pp $-81	+1.0pp $-134

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-23
   status Pending 1048-char remark

   Show marketing remark (1048 chars)

   Move-in ready, budget-friendly, and super-convenient in the heart of Petal with some of the most beautiful heart pine floors we have ever seen (reclaimed from an 1800s church)! Located at the end of a low traffic street complete with 2 car garage and fenced back yard. You'll also enjoy easy access for walking, jogging, biking, and strolling using the nearby Matthews Branch Sidewalk project that connects Petal City Park and Leaf River/East Hardy which is nearing completion. Current owners have taken care to prepare the home with fresh, neutral interior and exterior paint, carpet (where applicable). Super spacious with over 1800 square feet plus an additional 400 s. f. sunroom. Primary suite features 2 walk-in closets. The heart pine floors continue in the living room with built ins and electric fireplace as well as the the dining room and hallways. Kitchen features extensive counter space as well as a breakfast area. Attached workshop/storage area is accessible from garage and the rear of the home. Available for occupancy at closing!

2. 2026-05-22
   status Pending
3. 2026-05-19
   listed $199,500 Active 1048-char remark

   Show marketing remark (1048 chars)

   Move-in ready, budget-friendly, and super-convenient in the heart of Petal with some of the most beautiful heart pine floors we have ever seen (reclaimed from an 1800s church)! Located at the end of a low traffic street complete with 2 car garage and fenced back yard. You'll also enjoy easy access for walking, jogging, biking, and strolling using the nearby Matthews Branch Sidewalk project that connects Petal City Park and Leaf River/East Hardy which is nearing completion. Current owners have taken care to prepare the home with fresh, neutral interior and exterior paint, carpet (where applicable). Super spacious with over 1800 square feet plus an additional 400 s. f. sunroom. Primary suite features 2 walk-in closets. The heart pine floors continue in the living room with built ins and electric fireplace as well as the the dining room and hallways. Kitchen features extensive counter space as well as a breakfast area. Attached workshop/storage area is accessible from garage and the rear of the home. Available for occupancy at closing!

4. 2026-05-19
   listed $199,500 Active

   Show marketing remark (1048 chars)

   Move-in ready, budget-friendly, and super-convenient in the heart of Petal with some of the most beautiful heart pine floors we have ever seen (reclaimed from an 1800s church)! Located at the end of a low traffic street complete with 2 car garage and fenced back yard. You'll also enjoy easy access for walking, jogging, biking, and strolling using the nearby Matthews Branch Sidewalk project that connects Petal City Park and Leaf River/East Hardy which is nearing completion. Current owners have taken care to prepare the home with fresh, neutral interior and exterior paint, carpet (where applicable). Super spacious with over 1800 square feet plus an additional 400 s. f. sunroom. Primary suite features 2 walk-in closets. The heart pine floors continue in the living room with built ins and electric fireplace as well as the the dining room and hallways. Kitchen features extensive counter space as well as a breakfast area. Attached workshop/storage area is accessible from garage and the rear of the home. Available for occupancy at closing!

5. 2014-12-23
   soldstatus 494-char remark

   Show marketing remark (494 chars)

   First American Home Warranty. Large, budget-friendly home with solid heart pine floors that will take your breath away reclaimed from a church built in the 1800's! Beautifully updated throughout. Has central vacuum system and electric fireplace. Additional 400 s. f. sunroom plus 2 car garage and fenced back yard. Master suite features 2 walk-in closets. Sunken living room and formal & informal dining. Large storage area attached to garage. Ride your bike to Petal City parks and YMCA.

6. 2014-10-17
   listed $99,500 494-char remark

   Show marketing remark (494 chars)

   First American Home Warranty. Large, budget-friendly home with solid heart pine floors that will take your breath away reclaimed from a church built in the 1800's! Beautifully updated throughout. Has central vacuum system and electric fireplace. Additional 400 s. f. sunroom plus 2 car garage and fenced back yard. Master suite features 2 walk-in closets. Sunken living room and formal & informal dining. Large storage area attached to garage. Ride your bike to Petal City parks and YMCA.

7. 2004-07-19
   soldstatus
8. 2004-03-16
   listed $74,900
9. 2002-01-11
   soldstatus
10. 2001-10-19
    listed $75,000

ⓘ 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: $1,343 · $112/mo
• Projected year-2 tax: $1,576 · $131/mo
• Expected delta: +$233/yr (+$19/mo · 17.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 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: $19,420
• − Mortgage interest: −$11,175
• − Property taxes: −$1,343
• − Insurance: −$1,795
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$5,804
• Taxable loss: −$3,804
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $562/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: 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

+166.0% since first listed

10 events — show timeline

• 2026-05-23 Pending — HAAR
• 2026-05-22 Pending — MLSU
• 2026-05-19 Listed $199,500 MLSU
• 2026-05-19 Listed $199,500 HAAR
• 2014-12-23 Sold (MLS) — HAAR
• 2014-10-17 Listed $99,500 HAAR
• 2004-07-19 Sold (MLS) — HAAR
• 2004-03-16 Listed $74,900 HAAR
• 2002-01-11 Sold (MLS) — HAAR
• 2001-10-19 Listed $75,000 HAAR

Property tax history

-3.8%/yr

Latest (2025): $1,343 · +8.5% YoY. Source: county tax records.