461 Cypress Corner Rd · Senatobia, MS 38668

$164,900

3 bd · 2.0 ba · 1,820 sqft · SingleFamily public records · 35 Days on market

Built 1949 7.70 ac lot $91/sqft · 43% below area Est $289k · 43% under ↓ 28% 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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2,069 sf 3 bedroom, 2 bath home sitting on 7.7 acres of land located in the Strayhorn School District. Large eat in kitchen w/breakfast bar. Gas logs in the great room. Large sunroom. Covered front porch and back wooden deck. Attached 2 car garage, storage shed and tractor shed. Small stocked pond on the property. Long road frontage which will make it easy to divide the property into multiple tracts.

Key facts

• 7.7 acre lot
• 2 garage spots
• Built 1949

Property features AI

Finance

• Other: Property listed as fixer; Lot approximately 7.7 acres

Exterior

• Parking: Attached 2-car garage; Total parking for 2 vehicles
• Utilities: Public water; Septic tank; Electricity connected; Propane available; Sewer connected; Water connected
• Home design: Single-family house; One level
• Construction: Vinyl and brick exterior; Architectural shingle roof; Conventional foundation; Built (year source: assessor)
• Exterior features: Front porch; Workshop; Many trees on the lot

Interior

• Kitchen: Dishwasher; Electric range; Kitchen on main level (approx. 14x18)
• Bedrooms: Three main-level bedrooms (approx. 11x13, 11x13, 13x13)
• Flooring: Carpet; Hardwood; Tile; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans for cooling
• Interior features: Breakfast bar; Ceiling fans; Fireplace in den; Sunroom; Eight total rooms
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $83 ($995/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 $142k (13.7% below list).
• Recommended offer: $142k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.9% in Senatobia — 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 64/100 on livability (#130 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tate County School District (rural): math 28% / reading 27% proficiency, ranked #74 of 130 in MS (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Strayhorn Elementary School (math 34% / reading 37%, grade F, #150 of 375 statewide, top 40%, 406 students, 99% FRL); Strayhorn High School (math 32% / reading 32%, grade F, #80 of 197 statewide, top 42%, 309 students, 99% FRL) — zoned schools average 99% FRL vs 69% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 117 active listings in the ZIP; 114 units permitted in Tate County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Tate County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,377 (13.7% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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 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?
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: 0.86% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 9.7

CMA / ARV

• ARV (median comp): $288,725
• List price: $164,900
• Delta: -42.89%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-21,477
• Equity at exit: $24,587

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-12,057
• Equity at exit: $14,258

Cash invested: $46,172 (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 38668

• Home prices YoY: -13.8%
• Active inventory: 117
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$108 /mo · $1,301/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $83

Break-even live

Break-even rent $1,319

Max offer price $164,900

Occupancy floor 89%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $164,900 Active 35 DOM
2. 2026-06-17
   days on market $164,900 Active 34 DOM
3. 2026-06-16
   days on market $164,900 Active 33 DOM
4. 2026-06-15
   days on market $164,900 Active 32 DOM
5. 2026-06-13
   days on market $164,900 Active 30 DOM
6. 2026-06-13
   days on market $164,900 Active 29 DOM
7. 2026-06-10
   days on market $164,900 Active 27 DOM
8. 2026-06-09
   days on market $164,900 Active 26 DOM
9. 2026-06-08
   days on market $164,900 Active 25 DOM
10. 2026-06-07
    days on market $164,900 Active 24 DOM
11. 2026-06-05
    days on market $164,900 Active 21 DOM
12. 2026-06-03
    days on market $164,900 Active 20 DOM
13. 2026-06-02
    days on market $164,900 Active 19 DOM
14. 2026-06-01
    days on market $164,900 Active 18 DOM
15. 2026-05-31
    days on market $164,900 Active 17 DOM
16. 2026-05-13
    listed $164,900 Active 373-char remark
17. 2026-02-27
    historical
18. 2025-10-16
    listed $215,000 Active
19. 2021-11-30
    soldstatus Closed

    Show marketing remark (403 chars)

    2,069 sf 3 bedroom, 2 bath home sitting on 7.7 acres of land located in the Strayhorn School District. Large eat in kitchen w/breakfast bar. Gas logs in the great room. Large sunroom. Covered front porch and back wooden deck. Attached 2 car garage, storage shed and tractor shed. Small stocked pond on the property. Long road frontage which will make it easy to divide the property into multiple tracts.

20. 2021-11-30
    soldstatus

    Show marketing remark (403 chars)

    2,069 sf 3 bedroom, 2 bath home sitting on 7.7 acres of land located in the Strayhorn School District. Large eat in kitchen w/breakfast bar. Gas logs in the great room. Large sunroom. Covered front porch and back wooden deck. Attached 2 car garage, storage shed and tractor shed. Small stocked pond on the property. Long road frontage which will make it easy to divide the property into multiple tracts.

21. 2021-10-15
    historical

    Show marketing remark (403 chars)

    2,069 sf 3 bedroom, 2 bath home sitting on 7.7 acres of land located in the Strayhorn School District. Large eat in kitchen w/breakfast bar. Gas logs in the great room. Large sunroom. Covered front porch and back wooden deck. Attached 2 car garage, storage shed and tractor shed. Small stocked pond on the property. Long road frontage which will make it easy to divide the property into multiple tracts.

22. 2021-09-27
    listed $229,000

    Show marketing remark (403 chars)

    2,069 sf 3 bedroom, 2 bath home sitting on 7.7 acres of land located in the Strayhorn School District. Large eat in kitchen w/breakfast bar. Gas logs in the great room. Large sunroom. Covered front porch and back wooden deck. Attached 2 car garage, storage shed and tractor shed. Small stocked pond on the property. Long road frontage which will make it easy to divide the property into multiple tracts.

23. 1959-10-15
    soldstatus

ⓘ 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: $1,301 · $108/mo
• Projected year-2 tax: $1,303 · $109/mo
• Expected delta: +$2/yr ($0/mo · 0.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,085
• − Mortgage interest: −$9,237
• − Property taxes: −$1,301
• − Insurance: −$824
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$4,797
• Taxable loss: −$1,808
• Est. tax savings @ 24.0%: +$434
• After-tax cash flow: $1,429/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: Tate County School District
• NCES district ID: 2804230
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $41,975
• Composite: 23.38/100
• National rank: #7903
• State rank: #74 of 130 in MS

Livability — Senatobia

• Score: 64/100
• State rank: #130
• US rank: #14184

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,123

Population outlook (Tate County) Hauer SSP2

• Today (2025): 27,577 people
• By 2030: 26,872 · -2.6%
• By 2040: 25,319 · -8.2%
• By 2050: 23,590 · -14.5%
• By 2075: 19,500 · -29.3%
• By 2100: 15,468 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 36% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Serbian 2% Iranian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Tate

• 2024 margin: Solid R (+43.8) · D 27.6% · R 71.4%
• 2008→2024 swing: -22.8pp toward R · 2008: -20.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+34.5 2016: R+31.4 2012: R+18.4 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.19%
• Current HPI: 226.9896
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-28.0% since first listed

8 events — show timeline

• 2026-05-13 Listed $164,900 MLSU
• 2026-02-27 Listing Removed — MLSU
• 2025-10-16 Listed $215,000 MLSU
• 2021-11-30 Sold (Public Records) — Public Records
• 2021-11-30 Sold (MLS) — MLSU
• 2021-10-15 Listing Removed — MLSU
• 2021-09-27 Listed $229,000 MLSU
• 1959-10-15 Sold (Public Records) — Public Records

Property tax history

+12.9%/yr

Latest (2025): $1,301 · +1097.6% YoY. Source: county tax records.