10 Clear Springs Ct · Hattiesburg, MS 39402

$239,900

3 bd · 2.0 ba · 1,661 sqft · SingleFamily public records · 20 Days on market

Built 2006 Est $261k · 8% under

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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 +13.6/30.0
• ARV discount +11.1/15.0
• DSCR +4.1/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful family home in Chapel Hill. Large great room with separate kitchen. Lots of cabinets with breakfast area. Great master suite with walk in closet and two large bedrooms. Oversize covered patio with Fenced backyard.

Key facts

• Ample cabinets
• Separate kitchen
• Tile countertops

Tags

• COVERED PATIO
• FENCED BACKYARD
• SEPARATE KITCHEN
• AMPLE CABINETS
• TILE COUNTERTOPS
• BREAKFAST AREA

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Brick veneer exterior; Slab foundation
• Exterior features: Covered rear porch; Porch; Back yard fencing

Interior

• Flooring: Vinyl; Ceramic tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $14 ($165/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 $190k (20.8% below list).
• Recommended offer: $190k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% in Hattiesburg — 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 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime D+, employment F.
• Lamar County School District (rural): math 48% / reading 46% proficiency, ranked #18 of 130 in MS (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bellevue Elementary School (math 43% / reading 45%, grade F, #100 of 375 statewide, top 27%, 1,124 students, 100% FRL); Oak Grove Middle School (math 52% / reading 42%, grade D+, #37 of 179 statewide, top 20%, 1,294 students, 100% FRL); Oak Grove High School (math 42% / reading 58%, grade D+, #19 of 197 statewide, top 10%, 1,777 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (57 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 501 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 45 units permitted in Lamar County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lamar County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,988 (20.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 0.79% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $260,777
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 E Andover	0.20mi	3/2.0	1,534 (-8%)	10mo	$274,500	$179	70
23 Whitestone Ct	0.18mi	3/2.0	1,433 (-14%)	7mo	$224,900	$157	63
23 Clear Springs Ct	0.09mi	3/2.0	1,422 (-14%)	14mo	$215,500	$152	60
16 W Chapel Hill Blvd	0.25mi	4/2.0 (+1)	1,830 (+10%)	16mo	$285,000	$156	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-37,365
• Equity at exit: $35,770

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-28,784
• Equity at exit: $20,742

Cash invested: $67,172 (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 39402

• Rents YoY: 3.4%
• Active inventory: 501
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,900 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$129 /mo · $1,550/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $14

Break-even live

Break-even rent $1,882

Max offer price $239,900

Occupancy floor 94%

Sensitivity live

Price	-10% $150	-5% $82	+0% $14	+5% $-54	+10% $-122
Rent	-10% $-136	-5% $-61	+0% $14	+5% $89	+10% $164
Rate	-1.0pp $135	-0.5pp $75	base $14	+0.5pp $-48	+1.0pp $-112

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Montrose Ct Hattiesburg, MS	3.0	2.0	1600	$2,200	$1.38	23d	1	0.12mi
28 Whitestone Ct Hattiesburg, MS	3.0	2.0	1500	$1,695	$1.13	45d	1	0.18mi
361 Richburg Rd Purvis, MS	2.0	2.0	1200	$1,120	$0.93	23d	1	0.94mi
337 Richburg Rd Purvis, MS	2.0	2.0	1200	$1,120	$0.93	23d	1	0.98mi
100 Twin Oaks Ln Hattiesburg, MS	1.0–3.0	1.0–2.0	1156	$1,487	$1.29	23d	22	1.12mi

Listing history 15 events

1. 2026-06-21
   days on market $239,900 Active 20 DOM
2. 2026-06-19
   days on market $239,900 Active 18 DOM
3. 2026-06-18
   days on market $239,900 Active 17 DOM
4. 2026-06-17
   days on market $239,900 Active 16 DOM
5. 2026-06-16
   days on market $239,900 Active 15 DOM
6. 2026-06-15
   days on market $239,900 Active 14 DOM
7. 2026-06-14
   days on market $239,900 Active 12 DOM
8. 2026-06-13
   days on market $239,900 Active 11 DOM
9. 2026-06-10
   days on market $239,900 Active 9 DOM
10. 2026-06-09
    days on market $239,900 Active 8 DOM
11. 2026-06-08
    days on market $239,900 Active 7 DOM
12. 2026-06-07
    days on market $239,900 Active 6 DOM
13. 2026-06-05
    days on market $239,900 Active 3 DOM
14. 2026-06-01
    remarks 699-char remark
15. 2026-06-01
    listed $239,900 Active 1 DOM

ⓘ 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: $1,550 · $129/mo
• Projected year-2 tax: $1,895 · $158/mo
• Expected delta: +$346/yr (+$29/mo · 22.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 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: $22,799
• − Mortgage interest: −$13,438
• − Property taxes: −$1,550
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$6,979
• Taxable loss: −$4,015
• Est. tax savings @ 24.0%: +$964
• After-tax cash flow: $1,129/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: Lamar County School District
• NCES district ID: 2802400
• Math proficiency: 48% ▼ -13.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $54,742
• Composite: 40.77/100
• National rank: #3645
• State rank: #18 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lamar County · 44,620 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 44,620
• Household income: $75,220
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 864.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 71,826 people
• By 2030: 77,309 · +7.6%
• By 2040: 87,733 · +22.1%
• By 2050: 97,289 · +35.5%
• By 2075: 115,347 · +60.6%
• By 2100: 125,601 · +74.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 7% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+48.8) · D 25.0% · R 73.8% · Other 1.3%
• 2008→2024 swing: +7.0pp toward D · 2008: -55.8pp · 2024: -48.8pp
• All cycles: 2024: R+48.8 2020: R+46.9 2016: R+55.6 2012: R+54.6 2008: R+55.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.41%
• Current HPI: 163.5142
• Rent YoY: ▲ 3.37%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+60.0% since first listed

7 events — show timeline

• 2026-06-01 Listed $239,900 HAAR
• 2025-06-16 Relisted — HAAR
• 2025-05-14 Pending — HAAR
• 2025-03-19 Price Changed $229,000 HAAR
• 2024-12-11 Listed $239,900 HAAR
• 2016-12-16 Sold (MLS) — HAAR
• 2016-06-09 Listed $149,900 HAAR

Property tax history

+2.4%/yr

Latest (2025): $1,550 · +3.6% YoY. Source: county tax records.