1028 Wayne St · Waynesboro, MS 39367

$44,000

5 bd · 1.0 ba · 2,899 sqft · SingleFamily public records · 1302 Days on market

Built 1900 0.39 ac lot $15/sqft · 82% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This historic property has a huge porch over the full front and is close to downtown. This house would be ideal for holiday entertaining with family and/or friends. The house has a lot of potentials, so use your HGTV abilities to make it something to be proud of. There are three bedrooms above and two bedrooms downstairs. This property is being sold as-is, where-is.

Key facts

• 0.39 acre lot
• Parking
• Built 1900

Property features AI

Exterior

• Parking: Detached carport; 1 covered parking space (carport)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single-family residence (house); One story; Fixer condition
• Construction: Vinyl exterior; Asphalt roof; Conventional foundation; Built in public-record year
• Exterior features: Other exterior features

Interior

• Kitchen: Oven
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Ceiling fan(s) for cooling
• Interior features: Fireplace (other type); Oven

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $44k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $44k).
• Recommended offer: $39k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#140 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools F, crime F, amenities 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: 45 active listings in the ZIP; 7 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $304 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wayne County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 1302 days — a 12% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $84k (66%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% 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 $38,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 1302 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 2.78% ✓
• Cap rate: 22.34%
• Cash-on-cash: 57.32%
• DSCR: 3.55
• GRM: 3.0

CMA / ARV

• ARV (median comp): $160,111
• List price: $44,000
• Delta: -72.52%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 55.9%
• Equity multiple: 3.47×
• Total profit: $30,416
• Equity at exit: $6,561

10-year hold

• IRR: 60.9%
• Equity multiple: 7.09×
• Total profit: $75,011
• Equity at exit: $3,804

Cash invested: $12,320 (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 39367

• Home prices YoY: -30.7%
• Active inventory: 45
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$231
• Tax from tax record: −$130 /mo · $1,560/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $588

Break-even live

Break-even rent $480

Max offer price $44,000

Occupancy floor 47%

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: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $44,000 Active 1302 DOM
2. 2026-06-17
   days on market $44,000 Active 1301 DOM
3. 2026-06-16
   days on market $44,000 Active 1300 DOM
4. 2026-06-15
   days on market $44,000 Active 1299 DOM
5. 2026-06-13
   days on market $44,000 Active 1297 DOM
6. 2026-06-12
   days on market $44,000 Active 1296 DOM
7. 2026-06-09
   days on market $44,000 Active 1293 DOM
8. 2026-06-08
   days on market $44,000 Active 1292 DOM
9. 2026-06-07
   days on market $44,000 Active 1291 DOM
10. 2026-06-07
    days on market $44,000 Active 1290 DOM
11. 2026-06-04
    days on market $44,000 Active 1287 DOM
12. 2026-06-02
    days on market $44,000 Active 1286 DOM
13. 2026-06-01
    days on market $44,000 Active 1285 DOM
14. 2026-05-31
    days on market $44,000 Active 1284 DOM
15. 2026-04-27
    price $44,000
16. 2025-11-25
    price $54,000
17. 2025-09-12
    price $64,900
18. 2024-12-30
    price $74,900
19. 2024-09-06
    status Active
20. 2024-09-01
    historical
21. 2024-07-26
    price $84,900
22. 2024-04-01
    status Active
23. 2024-04-01
    historical
24. 2023-04-06
    status Active
25. 2023-04-01
    historical
26. 2022-12-28
    status Active
27. 2022-12-24
    historical
28. 2022-11-18
    price $99,000
29. 2022-11-10
    listed $127,900 Active
30. 2022-09-24
    historical
31. 2022-09-22
    listed $127,900 Active
32. 2005-05-11
    soldstatus
33. 2003-12-07
    soldstatus
34. 2002-05-22
    soldstatus
35. 2002-02-15
    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: $1,560 · $130/mo
• Projected year-2 tax: $1,560 · $130/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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $14,697
• − Mortgage interest: −$2,465
• − Property taxes: −$1,560
• − Insurance: −$220
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$1,280
• Taxable income: $6,821
• Est. tax owed @ 24.0%: −$1,637
• After-tax cash flow: $5,425/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 — Waynesboro

• Score: 64/100
• State rank: #140
• US rank: #14735

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynesboro, MS
• Population (ZIP): 13,401

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 52% Black 40% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 2% Scotch-Irish 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 8%

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: ▼ -61.56%
• Current HPI: 139.1889
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-65.6% since first listed

21 events — show timeline

• 2026-04-27 Price Changed $44,000 MLSU
• 2025-11-25 Price Changed $54,000 MLSU
• 2025-09-12 Price Changed $64,900 MLSU
• 2024-12-30 Price Changed $74,900 MLSU
• 2024-09-06 Relisted — MLSU
• 2024-09-01 Listing Removed — MLSU
• 2024-07-26 Price Changed $84,900 MLSU
• 2024-04-01 Relisted — MLSU
• 2024-04-01 Listing Removed — MLSU
• 2023-04-06 Relisted — MLSU
• 2023-04-01 Listing Removed — MLSU
• 2022-12-28 Relisted — MLSU
• 2022-12-24 Listing Removed — MLSU
• 2022-11-18 Price Changed $99,000 MLSU
• 2022-11-10 Listed $127,900 MLSU
• 2022-09-24 Listing Removed — MLSU
• 2022-09-22 Listed $127,900 MLSU
• 2005-05-11 Sold (Public Records) — Public Records
• 2003-12-07 Sold (Public Records) — Public Records
• 2002-05-22 Sold (Public Records) — Public Records
• 2002-02-15 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,560 · +2.9% YoY. Source: county tax records.