None

Booneville, MS 38829

$114,900D

3 bd · 3.0 ba · 1,008 sqft · Built 1983 · SingleFamily · Active · 210 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $16/mo
• Annual: $189/yr
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• 1% rule: 0.87%
• Cash to close: $32,172

Investor read

• This is a 3-bed/3.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $16 ($189/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 $100k (13.0% below list).
• It's been on market 210 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (13.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#117 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Booneville School District (town): math 49% / reading 46% proficiency, ranked #24 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anderson Elementary School (math 50% / reading 49%, grade D, #65 of 375 statewide, top 20%, 527 students, 99% FRL); R.H. Long Booneville Middle School (math 47% / reading 43%, grade D, #43 of 179 statewide, top 24%, 420 students, 99% FRL); Booneville High School (math 52% / reading 52%, grade D+, #14 of 197 statewide, top 8%, 374 students, 99% FRL) — zoned schools average 99% FRL vs 46% district-wide (53 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 11 units permitted in Prentiss County in 2024 (0 in 5+ unit buildings).
• Prentiss County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 2y 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.
• Climate carrying-cost: moderate wind risk, 23% 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.

Questions for listing agent

• It's been on market 210 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• 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.
• Crime grade is D 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?
• 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?
• 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.
• 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.