60116 Seminole Rd · Smithville, MS 38870

$140,000

3 bd · 1.0 ba · 1,259 sqft · SingleFamily public records · 120 Days on market

Built 1974 1.00 ac lot $111/sqft · 33% above area Est $134k · at est.

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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 +12.6/30.0
• ARV discount +5.4/15.0
• Schools +4.1/10.0
• DSCR +3.8/10.0
• Livability +3.1/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special or DIY dream! This property is packed with potential and ready for someone with vision. Situated on 1.7 acres, enjoy peaceful country living while transforming this home into something truly special. Whether you're looking for your next flip, rental opportunity, or a place to customize and call your own, this one is full of possibilities.

Key facts

• 1.7 acres
• Rental opportunity
• 1 acre lot

Tags

• 1.7 ACRES
• PEACEFUL COUNTRY LIVING
• RENTAL OPPORTUNITY
• CUSTOMIZE AND CALL YOUR OWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-17 ($-207/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (24.3% below list).
• Recommended offer: $106k (24.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#173 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Monroe County School District (rural): math 55% / reading 42% proficiency, ranked #17 of 130 in MS (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 active listings in the ZIP; 18 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $140k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $106,019 (24.3% 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 120 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.76% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 11.0

CMA / ARV

• ARV (median comp): $133,730
• List price: $140,000
• Delta: 4.69%
• Verdict: FAIR
• Comps: 10 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-23,839
• Equity at exit: $20,874

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-22,391
• Equity at exit: $12,105

Cash invested: $39,200 (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 38870

• Home prices YoY: -15.9%
• Active inventory: 17
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$62 /mo · $748/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-17

Break-even live

Break-even rent $1,082

Max offer price $136,950

Occupancy floor 97%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $140,000 Active 120 DOM
2. 2026-06-17
   days on market $140,000 Active 119 DOM
3. 2026-06-16
   days on market $140,000 Active 118 DOM
4. 2026-06-15
   days on market $140,000 Active 117 DOM
5. 2026-06-13
   days on market $140,000 Active 115 DOM
6. 2026-06-12
   days on market $140,000 Active 114 DOM
7. 2026-06-09
   days on market $140,000 Active 111 DOM
8. 2026-06-08
   days on market $140,000 Active 110 DOM
9. 2026-06-07
   days on market $140,000 Active 109 DOM
10. 2026-06-07
    days on market $140,000 Active 108 DOM
11. 2026-06-04
    days on market $140,000 Active 105 DOM
12. 2026-06-02
    days on market $140,000 Active 104 DOM
13. 2026-06-01
    days on market $140,000 Active 103 DOM
14. 2026-05-31
    days on market $140,000 Active 102 DOM
15. 2026-05-12
    price $140,000 357-char remark

    Show marketing remark (357 chars)

    Investor special or DIY dream! This property is packed with potential and ready for someone with vision. Situated on 1.7 acres, enjoy peaceful country living while transforming this home into something truly special. Whether you're looking for your next flip, rental opportunity, or a place to customize and call your own, this one is full of possibilities.

16. 2026-02-12
    listed $175,000 Active 357-char remark

    Show marketing remark (357 chars)

    Investor special or DIY dream! This property is packed with potential and ready for someone with vision. Situated on 1.7 acres, enjoy peaceful country living while transforming this home into something truly special. Whether you're looking for your next flip, rental opportunity, or a place to customize and call your own, this one is full of possibilities.

17. 2011-02-08
    soldstatus $75,000
18. 2004-04-27
    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: $748 · $62/mo
• Projected year-2 tax: $1,106 · $92/mo
• Expected delta: +$358/yr (+$30/mo · 47.9%)

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,722
• − Mortgage interest: −$7,842
• − Property taxes: −$748
• − Insurance: −$700
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$4,073
• Taxable loss: −$2,676
• Est. tax savings @ 24.0%: +$642
• After-tax cash flow: $435/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: Monroe County School District
• NCES district ID: 2802940
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 42% ▼ -9.00%
• Median HH income: $44,077
• Composite: 41.04/100
• National rank: #3579
• State rank: #17 of 130 in MS

Livability — Smithville

• Score: 62/100
• State rank: #173
• US rank: #16338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,471

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 33,903 people
• By 2030: 32,612 · -3.8%
• By 2040: 29,761 · -12.2%
• By 2050: 26,788 · -21.0%
• By 2075: 20,058 · -40.8%
• By 2100: 14,566 · -57.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -17.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.7 2016: R+29.3 2012: R+15.9 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.13%
• Current HPI: 138.219
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+86.7% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $140,000 NEMSBD
• 2026-02-12 Listed $175,000 NEMSBD
• 2011-02-08 Sold (Public Records) $75,000 Public Records
• 2004-04-27 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $748 · +152.4% YoY. Source: county tax records.