212 Saint Horace St · State Line, MS 39362

$158,000

5 bd · 1.0 ba · 1,730 sqft · SingleFamily public records · 122 Days on market

Built 1959 0.39 ac lot ↓ 15% since listing

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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 +14.9/30.0
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +3.6/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Welcome to this inviting home where space, comfort, and timeless character come together. Located in State Line, MS, this spacious 5-bedroom, 3-bath home offers a versatile layout with room to grow. Featuring two master suites, it's ideal for multigenerational living or accommodating guests with ease. The home includes a large living room perfect for gathering, a formal dining room for hosting, and an eat-in kitchen designed for everyday convenience. A dedicated office space provides a quiet area for work or study, while the additional bedrooms offer flexibility for family, hobbies, or extra storage. With generous living areas, thoughtful design, and plenty of character throughout, this home offers comfort, functionality, and the space to make it your own.

Key facts

• Formal dining room
• Two master suites
• Large living room

Tags

• TWO MASTER SUITES
• DEDICATED OFFICE SPACE
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• EAT-IN KITCHEN

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $47 ($569/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 $135k (14.4% below list).
• Recommended offer: $135k (14.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 54/100 on livability (#319 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute F.
• Wayne County School District (town): math 24% / reading 29% proficiency, ranked #79 of 130 in MS (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 8 active listings in the ZIP; 7 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (8.3% local appreciation)).
• Wayne County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 4 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 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,263 (14.4% below list)

Questions for the listing agent

1. It's been on market 122 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 1959 — 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 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?
6. 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?
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: 0.86% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.61×
• Total profit: $71,132
• Equity at exit: $123,281

10-year hold

• IRR: 19.8%
• Equity multiple: 5.62×
• Total profit: $204,265
• Equity at exit: $247,872

Cash invested: $44,240 (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 39362

• Home prices YoY: 7.2%
• Active inventory: 8
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,353 medium
• Mortgage (P&I): −$829
• Tax from tax record: −$127 /mo · $1,521/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $47

Break-even live

Break-even rent $1,293

Max offer price $158,000

Occupancy floor 92%

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $158,000 Active 122 DOM
2. 2026-06-17
   days on market $158,000 Active 121 DOM
3. 2026-06-16
   days on market $158,000 Active 120 DOM
4. 2026-06-15
   days on market $158,000 Active 119 DOM
5. 2026-06-13
   status $158,000 Active 117 DOM
6. 2026-04-23
   price $158,000 766-char remark

   Show marketing remark (773 chars)

   Welcome to this inviting home where space, comfort, and timeless character come together. Located in State Line, MS, this spacious 5-bedroom, 3-bath home offers a versatile layout with room to grow. Featuring two master suites, it's ideal for multigenerational living or accommodating guests with ease. The home includes a large living room perfect for gathering, a formal dining room for hosting, and an eat-in kitchen designed for everyday convenience. A dedicated office space provides a quiet area for work or study, while the additional bedrooms offer flexibility for family, hobbies, or extra storage. With generous living areas, thoughtful design, and plenty of character throughout, this home offers comfort, functionality, and the space to make it your own.

7. 2026-04-23
   price $158,000 773-char remark

   Show marketing remark (773 chars)

   Welcome to this inviting home where space, comfort, and timeless character come together. Located in State Line, MS, this spacious 5-bedroom, 3-bath home offers a versatile layout with room to grow. Featuring two master suites, it's ideal for multigenerational living or accommodating guests with ease. The home includes a large living room perfect for gathering, a formal dining room for hosting, and an eat-in kitchen designed for everyday convenience. A dedicated office space provides a quiet area for work or study, while the additional bedrooms offer flexibility for family, hobbies, or extra storage. With generous living areas, thoughtful design, and plenty of character throughout, this home offers comfort, functionality, and the space to make it your own.

8. 2026-01-31
   listed $164,900 Active 766-char remark

   Show marketing remark (773 chars)

   Welcome to this inviting home where space, comfort, and timeless character come together. Located in State Line, MS, this spacious 5-bedroom, 3-bath home offers a versatile layout with room to grow. Featuring two master suites, it's ideal for multigenerational living or accommodating guests with ease. The home includes a large living room perfect for gathering, a formal dining room for hosting, and an eat-in kitchen designed for everyday convenience. A dedicated office space provides a quiet area for work or study, while the additional bedrooms offer flexibility for family, hobbies, or extra storage. With generous living areas, thoughtful design, and plenty of character throughout, this home offers comfort, functionality, and the space to make it your own.

9. 2026-01-31
   listed $164,900 Active 773-char remark

   Show marketing remark (773 chars)

   Welcome to this inviting home where space, comfort, and timeless character come together. Located in State Line, MS, this spacious 5-bedroom, 3-bath home offers a versatile layout with room to grow. Featuring two master suites, it's ideal for multigenerational living or accommodating guests with ease. The home includes a large living room perfect for gathering, a formal dining room for hosting, and an eat-in kitchen designed for everyday convenience. A dedicated office space provides a quiet area for work or study, while the additional bedrooms offer flexibility for family, hobbies, or extra storage. With generous living areas, thoughtful design, and plenty of character throughout, this home offers comfort, functionality, and the space to make it your own.

10. 2026-01-21
    historical
11. 2025-09-16
    price $164,900
12. 2025-09-16
    status Active
13. 2025-09-15
    historical
14. 2025-04-06
    price $175,000
15. 2025-03-13
    listed $185,000 Active
16. 2002-04-17
    soldstatus
17. 1999-03-18
    soldstatus
18. 1998-02-25
    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: $1,521 · $127/mo
• Projected year-2 tax: $1,521 · $127/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°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: $16,232
• − Mortgage interest: −$8,850
• − Property taxes: −$1,521
• − Insurance: −$790
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,596
• Taxable loss: −$2,124
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $1,078/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: Wayne County School District
• NCES district ID: 2804530
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $32,885
• Composite: 21.65/100
• National rank: #8283
• State rank: #79 of 130 in MS

Livability — State Line

• Score: 54/100
• State rank: #319
• US rank: #23808

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: State Line, MS
• Population (ZIP): 2,822

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 19,737 people
• By 2030: 19,116 · -3.1%
• By 2040: 17,754 · -10.0%
• By 2050: 16,267 · -17.6%
• By 2075: 12,858 · -34.9%
• By 2100: 10,121 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Two or more races 4%
• Common ancestry: Italian 2% Slovak 1%
• Languages at home: 100% English-only · Spanish 0%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+32.7) · D 33.2% · R 65.9%
• 2008→2024 swing: -11.0pp toward R · 2008: -21.8pp · 2024: -32.7pp
• All cycles: 2024: R+32.7 2020: R+26.6 2016: R+25.8 2012: R+19.1 2008: R+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.30%
• Current HPI: 123.4933
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-14.6% since first listed

13 events — show timeline

• 2026-04-23 Price Changed $158,000 HAAR
• 2026-04-23 Price Changed $158,000 MLSU
• 2026-01-31 Listed $164,900 HAAR
• 2026-01-31 Listed $164,900 MLSU
• 2026-01-21 Listing Removed — MLSU
• 2025-09-16 Price Changed $164,900 MLSU
• 2025-09-16 Relisted — MLSU
• 2025-09-15 Listing Removed — MLSU
• 2025-04-06 Price Changed $175,000 MLSU
• 2025-03-13 Listed $185,000 MLSU
• 2002-04-17 Sold (Public Records) — Public Records
• 1999-03-18 Sold (Public Records) — Public Records
• 1998-02-25 Sold (Public Records) — Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,521 · +10.2% YoY. Source: county tax records.