199 Jeff Peay Rd

Mathiston, MS 39750

$30,000C-

3 bd · 1.0 ba · 1,184 sqft · Built 1962 · SingleFamily · Pending · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,347/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $813/mo
• Annual: $9,760/yr
• Cap rate: 38.83%
• Cash-on-cash: 116.19%
• DSCR: 6.17
• 1% rule: 4.49%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $813 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 72 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($207 loan paydown + $2k appreciation (5.4% local appreciation)).
• Location reads 71/100 on livability (#37 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, amenities F.
• Watch-outs: property tax is 3.2% of price.
• Market conditions: 4 active listings in the ZIP; 66 units permitted in Oktibbeha County in 2024 (12 in 5+ unit buildings).
• Oktibbeha County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 44% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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.