611 N 3rd Ave · Greenwood, MS 38930

$39,000

3 bd · 2.0 ba · 1,296 sqft · Other public records · 30 Days on market

Built 1957 0.37 ac lot $30/sqft · 56% above area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks! SELLER FINANCING AVAILABLE. 5K DOWN 340/MO PAYMENT This investor-friendly SFR is being sold as-is, where-is and is bursting with potential. NEEDS TLC inside and out, this diamond in the rough can truly shine. Enjoy a huge fenced-in lot and a versatile 3-2 bedroom setup--perfect for your next flip, rental, or custom project.

Key facts

• 0.37 acre lot
• 3 parking spots
• Built 1957

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $39k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $38k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 4.9% in Greenwood — 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 71/100 on livability (#31 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D, amenities F, commute F.
• Market conditions: 100 active listings in the ZIP; 9 units permitted in Leflore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Leflore County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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

• Watch-outs: property tax is 3.6% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,415 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.87% ✓
• Cap rate: 23.18%
• Cash-on-cash: 60.30%
• DSCR: 3.68
• GRM: 2.9

CMA / ARV

• ARV (median comp): $24,941
• List price: $39,000
• Delta: 56.37%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 59.1%
• Equity multiple: 3.63×
• Total profit: $28,689
• Equity at exit: $5,815

10-year hold

• IRR: 63.9%
• Equity multiple: 7.43×
• Total profit: $70,222
• Equity at exit: $3,372

Cash invested: $10,920 (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 38930

• Home prices YoY: -18.6%
• Active inventory: 100
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,120 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$116 /mo · $1,386/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $549

Break-even live

Break-even rent $426

Max offer price $39,000

Occupancy floor 46%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-05-07
   status Pending 348-char remark

   Show marketing remark (348 chars)

   Opportunity knocks! SELLER FINANCING AVAILABLE. 5K DOWN 340/MO PAYMENT This investor-friendly SFR is being sold as-is, where-is and is bursting with potential. NEEDS TLC inside and out, this diamond in the rough can truly shine. Enjoy a huge fenced-in lot and a versatile 3-2 bedroom setup--perfect for your next flip, rental, or custom project.

2. 2026-05-07
   status Pending 348-char remark

   Show marketing remark (348 chars)

   Opportunity knocks! SELLER FINANCING AVAILABLE. 5K DOWN 340/MO PAYMENT This investor-friendly SFR is being sold as-is, where-is and is bursting with potential. NEEDS TLC inside and out, this diamond in the rough can truly shine. Enjoy a huge fenced-in lot and a versatile 3-2 bedroom setup--perfect for your next flip, rental, or custom project.

3. 2026-04-07
   listed $39,000 Active 348-char remark

   Show marketing remark (348 chars)

   Opportunity knocks! SELLER FINANCING AVAILABLE. 5K DOWN 340/MO PAYMENT This investor-friendly SFR is being sold as-is, where-is and is bursting with potential. NEEDS TLC inside and out, this diamond in the rough can truly shine. Enjoy a huge fenced-in lot and a versatile 3-2 bedroom setup--perfect for your next flip, rental, or custom project.

4. 2026-04-07
   listed $39,000 Active 348-char remark

   Show marketing remark (348 chars)

   Opportunity knocks! SELLER FINANCING AVAILABLE. 5K DOWN 340/MO PAYMENT This investor-friendly SFR is being sold as-is, where-is and is bursting with potential. NEEDS TLC inside and out, this diamond in the rough can truly shine. Enjoy a huge fenced-in lot and a versatile 3-2 bedroom setup--perfect for your next flip, rental, or custom project.

5. 2026-04-01
   soldstatus Closed
6. 2026-01-21
   status Pending
7. 2025-12-31
   price $34,900
8. 2025-11-28
   status Active
9. 2025-11-28
   price $39,900
10. 2025-11-23
    status Pending
11. 2025-11-03
    price $54,900
12. 2025-10-12
    price $64,900
13. 2025-09-15
    listed $84,900 Active
14. 2025-08-13
    historical
15. 2025-07-29
    price $89,900
16. 2025-07-02
    price $99,900
17. 2025-07-02
    price $99,000
18. 2025-05-31
    price $114,900
19. 2025-04-26
    listed $124,000 Active
20. 2001-10-08
    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: $1,386 · $116/mo
• Projected year-2 tax: $1,386 · $116/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $13,443
• − Mortgage interest: −$2,185
• − Property taxes: −$1,386
• − Insurance: −$195
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$1,135
• Taxable income: $6,392
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $5,051/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)

No district data.

Livability — Greenwood

• Score: 71/100
• State rank: #31
• US rank: #6625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenwood, MS
• Population (ZIP): 23,326

Population outlook (Leflore County) Hauer SSP2

• Today (2025): 27,008 people
• By 2030: 25,362 · -6.1%
• By 2040: 22,049 · -18.4%
• By 2050: 19,188 · -29.0%
• By 2075: 13,543 · -49.9%
• By 2100: 8,913 · -67.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (70%)
• Race & ethnicity: Black 70% White 25% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Leflore

• 2024 margin: Solid D (+38.5) · D 68.7% · R 30.3%
• 2008→2024 swing: +1.7pp toward D · 2008: 36.8pp · 2024: 38.5pp
• All cycles: 2024: D+38.5 2020: D+41.5 2016: D+41.0 2012: D+45.8 2008: D+36.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.32%
• Current HPI: 150.2668
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-68.5% since first listed

20 events — show timeline

• 2026-05-07 Pending — NCMBR
• 2026-05-07 Pending — MLSU
• 2026-04-07 Listed $39,000 NCMBR
• 2026-04-07 Listed $39,000 MLSU
• 2026-04-01 Sold (MLS) — MLSU
• 2026-01-21 Pending — MLSU
• 2025-12-31 Price Changed $34,900 MLSU
• 2025-11-28 Relisted — MLSU
• 2025-11-28 Price Changed $39,900 MLSU
• 2025-11-23 Pending — MLSU
• 2025-11-03 Price Changed $54,900 MLSU
• 2025-10-12 Price Changed $64,900 MLSU
• 2025-09-15 Listed $84,900 MLSU
• 2025-08-13 Listing Removed — MLSU
• 2025-07-29 Price Changed $89,900 MLSU
• 2025-07-02 Price Changed $99,900 MLSU
• 2025-07-02 Price Changed $99,000 MLSU
• 2025-05-31 Price Changed $114,900 MLSU
• 2025-04-26 Listed $124,000 MLSU
• 2001-10-08 Sold (Public Records) — Public Records

Property tax history

+15.1%/yr

Latest (2025): $1,386 · +24.3% YoY. Source: county tax records.