1305 Frances Ave · Magee, MS 39111

$149,900

3 bd · 1.0 ba · 1,215 sqft · SingleFamily public records · 41 Days on market

Built 1980 0.29 ac lot $123/sqft · 8% below area Est $170k · 12% 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).

• ARV discount +12.7/15.0
• Cash flow +8.5/30.0
• Appreciation +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.8/10.0
• Schools +1.7/10.0

Listing remarks MLS

Located in a quiet, well-established neighborhood within the Magee city limits, this charming 3-bedroom, 2-bath home offers comfort, space, and great value. Inside, you'll find beautiful wood flooring throughout the main living areas, complemented by updated tile in the kitchen for a clean, modern touch. This home has solid bones and is move-in ready, making it a great option for homeowners or investors alike. The layout provides a warm, inviting feel with plenty of natural light and functional living space. Step outside to enjoy your back patio, overlooking a large, fenced backyard that offers privacy and room to play, or host gatherings. Priced to sell, this home is a fantastic opportunity you don't want to miss. Schedule your private showing today!

Key facts

• Wood flooring
• Updated tile
• Back patio

Tags

• WOOD FLOORING
• UPDATED TILE
• BACK PATIO
• LARGE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (31.7% below list).
• Recommended offer: $102k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.5% in Magee — 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 63/100 on livability (#158 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — 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.
• Zoned schools: Magee Elementary School (math 16% / reading 22%, grade F, #251 of 375 statewide, top 67%, 504 students, 99% FRL); Magee Middle School (math 14% / reading 21%, grade F, #123 of 179 statewide, top 69%, 325 students, 99% FRL); Magee High School (math 8% / reading 8%, grade F, #184 of 197 statewide, top 94%, 405 students, 99% FRL) — zoned schools average 99% FRL vs 76% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 78 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.9% local appreciation)).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($145k) 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.
• Current owner paid $35k; list at $150k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $102,316 (31.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.68% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.74%
• DSCR: 0.83
• GRM: 12.2

CMA / ARV

• ARV (median comp): $169,536
• List price: $149,900
• Delta: -11.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 Frances Ave	0.00mi	3/1.5	1,265 (+4%)	1mo	$149,900	$118	90
1304 NE 1st Ave	0.03mi	3/2.0	1,261 (+4%)	2mo	$184,900	$147	86
502 NW Kennedy Dr	0.65mi	3/1.5	1,221 (+0%)	2mo	$169,000	$138	65
112 Adams Ave	0.38mi	3/2.0	1,264 (+4%)	15mo	$145,000	$115	59
704 NW Elm Ave	0.43mi	3/2.0	1,299 (+7%)	13mo	$167,270	$129	54
211 NE 3rd St	0.68mi	3/2.0	1,106 (-9%)	4mo	$129,900	$117	46
101 NE 3rd St	0.66mi	2/2.0 (-1)	1,300 (+7%)	7mo	$80,000	$62	43
170 Colonial Cir	0.40mi	3/2.0	1,104 (-9%)	24mo	$29,500	$27	42
1108 NE Mclauren	0.63mi	3/2.0	1,300 (+7%)	19mo	$119,900	$92	39
609 NW Cherry St	0.57mi	2/2.0 (-1)	1,040 (-14%)	10mo	$135,900	$131	32

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

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.21×
• Total profit: $8,888
• Equity at exit: $66,566

10-year hold

• IRR: 7.0%
• Equity multiple: 2.05×
• Total profit: $44,272
• Equity at exit: $101,942

Cash invested: $41,972 (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 39111

• Home prices YoY: 1.8%
• Active inventory: 78
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,023 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $-131

Break-even live

Break-even rent $1,189

Max offer price $126,768

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-89	+0% $-131	+5% $-173	+10% $-216
Rent	-10% $-212	-5% $-171	+0% $-131	+5% $-91	+10% $-50
Rate	-1.0pp $-55	-0.5pp $-93	base $-131	+0.5pp $-170	+1.0pp $-209

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-04
   status Pending 770-char remark

   Show marketing remark (770 chars)

   Located in a quiet, well-established neighborhood within the Magee city limits, this charming 3-bedroom, 2-bath home offers comfort, space, and great value. Inside, you'll find beautiful wood flooring throughout the main living areas, complemented by updated tile in the kitchen for a clean, modern touch. This home has solid bones and is move-in ready, making it a great option for homeowners or investors alike. The layout provides a warm, inviting feel with plenty of natural light and functional living space. Step outside to enjoy your back patio, overlooking a large, fenced backyard that offers privacy and room to play, or host gatherings. Priced to sell, this home is a fantastic opportunity you don't want to miss. Schedule your private showing today!

2. 2026-04-14
   price $149,900 770-char remark

   Show marketing remark (770 chars)

   Located in a quiet, well-established neighborhood within the Magee city limits, this charming 3-bedroom, 2-bath home offers comfort, space, and great value. Inside, you'll find beautiful wood flooring throughout the main living areas, complemented by updated tile in the kitchen for a clean, modern touch. This home has solid bones and is move-in ready, making it a great option for homeowners or investors alike. The layout provides a warm, inviting feel with plenty of natural light and functional living space. Step outside to enjoy your back patio, overlooking a large, fenced backyard that offers privacy and room to play, or host gatherings. Priced to sell, this home is a fantastic opportunity you don't want to miss. Schedule your private showing today!

3. 2026-03-24
   listed $154,900 Active 770-char remark

   Show marketing remark (770 chars)

   Located in a quiet, well-established neighborhood within the Magee city limits, this charming 3-bedroom, 2-bath home offers comfort, space, and great value. Inside, you'll find beautiful wood flooring throughout the main living areas, complemented by updated tile in the kitchen for a clean, modern touch. This home has solid bones and is move-in ready, making it a great option for homeowners or investors alike. The layout provides a warm, inviting feel with plenty of natural light and functional living space. Step outside to enjoy your back patio, overlooking a large, fenced backyard that offers privacy and room to play, or host gatherings. Priced to sell, this home is a fantastic opportunity you don't want to miss. Schedule your private showing today!

4. 2020-01-28
   soldstatus $34,790
5. 2018-09-12
   soldstatus $34,790
6. 2018-09-10
   soldstatus 262-char remark

   Show marketing remark (262 chars)

   Great Home for first time owners, completely remodeled from top to bottom, 3 Br/ 1-1/2 Ba 1550 sq. ft. brick home with nice size back yard partially fenced for the kids to run and play in a quite area of downtown Magee. Has a view of Spring Lake across the road.

7. 2018-02-14
   listed $99,900 262-char remark

   Show marketing remark (262 chars)

   Great Home for first time owners, completely remodeled from top to bottom, 3 Br/ 1-1/2 Ba 1550 sq. ft. brick home with nice size back yard partially fenced for the kids to run and play in a quite area of downtown Magee. Has a view of Spring Lake across the road.

8. 2017-11-14
   soldstatus
9. 2017-11-14
   soldstatus $34,790
10. 2017-05-15
    listed $65,900
11. 2017-05-11
    historical
12. 2016-09-09
    listed $69,900
13. 1999-01-29
    soldstatus $34,790

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $1,184 · $99/mo
• Expected delta: +$96/yr (+$8/mo · 8.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $12,278
• − Mortgage interest: −$8,397
• − Property taxes: −$1,088
• − Insurance: −$750
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$4,361
• Taxable loss: −$4,282
• Est. tax savings @ 24.0%: +$1,028
• After-tax cash flow: $-544/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: Simpson County School District
• NCES district ID: 2803990
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $36,826
• Composite: 17.46/100
• National rank: #9063
• State rank: #90 of 130 in MS

Livability — Magee

• Score: 63/100
• State rank: #158
• US rank: #15438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Magee, MS
• Population (ZIP): 8,927

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 26,197 people
• By 2030: 25,474 · -2.8%
• By 2040: 23,811 · -9.1%
• By 2050: 22,024 · -15.9%
• By 2075: 17,701 · -32.4%
• By 2100: 13,732 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 28% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+36.7) · D 31.4% · R 68.1%
• 2008→2024 swing: -14.3pp toward R · 2008: -22.4pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+30.4 2016: R+30.9 2012: R+22.1 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 161.8264
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+330.9% since first listed

13 events — show timeline

• 2026-05-04 Pending — MLSU
• 2026-04-14 Price Changed $149,900 MLSU
• 2026-03-24 Listed $154,900 MLSU
• 2020-01-28 Sold (Public Records) $34,790 Public Records
• 2018-09-12 Sold (Public Records) $34,790 Public Records
• 2018-09-10 Sold (MLS) — MLSU
• 2018-02-14 Listed $99,900 MLSU
• 2017-11-14 Sold (Public Records) $34,790 Public Records
• 2017-11-14 Sold (MLS) — MLSU
• 2017-05-15 Listed $65,900 MLSU
• 2017-05-11 Listing Removed — MLSU
• 2016-09-09 Listed $69,900 MLSU
• 1999-01-29 Sold (Public Records) $34,790 Public Records

Property tax history

+2.2%/yr

Latest (2023): $1,088 · -0.3% YoY. Source: county tax records.