60 Alice Ln

Belmont, MS 38827

$54,900B

3 bd · 1.5 ba · 1,344 sqft · Built 1970 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,080/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $509/mo
• Annual: $6,105/yr
• Cap rate: 17.41%
• Cash-on-cash: 39.72%
• DSCR: 2.77
• 1% rule: 1.97%
• Cash to close: $15,372

Investor read

• This is a 3-bed/1.5-bath single-family listed at $55k.
• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 29 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-1.3%/yr); year-one equity from $380 of loan paydown is wiped out by about $715 of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#84 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Tishomingo County Sp Mun School District (rural): math 37% / reading 39% proficiency, ranked #49 of 130 in MS (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Iuka Middle School (math 46% / reading 36%, grade F, #56 of 179 statewide, top 33%, 334 students, 99% FRL); Tishomingo County High School (math 27% / reading 42%, grade F, #68 of 197 statewide, top 39%, 603 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 14 active listings in the ZIP; 1 units permitted in Tishomingo County in 2024 (0 in 5+ unit buildings).
• Tishomingo County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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

• Built in 1970 — 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.
• 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.