312-326 Fords Creek Rd

Woodville, MS 39669

$69,000B

2 bd · 1.0 ba · 1,076 sqft · Built 1950 · MultiFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,704/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$358
• Net cashflow: $869/mo
• Annual: $10,432/yr
• Cap rate: 21.41%
• Cash-on-cash: 53.99%
• DSCR: 3.40
• 1% rule: 2.47%
• Cash to close: $19,320

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $69k. Condition is rated fair.
• At list price, monthly cash flow is $869 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($477 loan paydown + $4k appreciation (5.3% local appreciation)).
• Location reads 65/100 on livability (#104 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Wilkinson County School District (rural): math 4% / reading 11% proficiency, ranked #124 of 130 in MS (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 95% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wilkinson County Elementary (math 2% / reading 12%, grade F, #337 of 375 statewide, top 94%, 205 students, 100% FRL); William Winans Middle School (math 5% / reading 8%, grade F, #171 of 179 statewide, top 97%, 225 students, 100% FRL); Wilkinson County High (math 2% / reading 12%, grade F, #186 of 197 statewide, top 96%, 262 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP.
• Wilkinson County population projected at -37% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant damage and peeling paint
• Major: exterior paint — Peeling paint and general wear
• Major: interior paint — Peeling paint and outdated decor
• Major: kitchen cabinets — Old and dated cabinetry
• Major: bathroom fixtures — Old and outdated fixtures