62 Forest Barnes Rd · Petal, MS 39465

$118,900

3 bd · None ba · 2,176 sqft · Manufactured · 35 Days on market

Built 2018

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TAKE ME HOME TO PETAL!!! This 3/2 chic, modern farm style home is now being offered for your consideration! Situated on 7.64 acres, this home offers it all from the custom wood ceilings, custom wood countertops throughout, stainless steel appliances, vinyl wood flooring, stunning hardware and light fixtures, built in home office and that's not all. The large master bedroom is accompanied by french barn doors leading to a very spacious bathroom with double vanities with vessel sinks, free standing tub, and large shower. The attached, 2 car carport also provides a workshop/storage room. This property offers the upmost privacy and YOU DO NOT WANT TO MISS OUT ON THIS ONE!!! Call for your own private showing today before it's too late!!!

Key facts

• Covered front porch
• Walk in tile shower
• Office area

Tags

• COVERED FRONT PORCH
• WALK IN TILE SHOWER
• GARDEN TUB
• HUGE KITCHEN ISLAND
• OFFICE AREA
• DEDICATED DINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 4.0% in Petal — 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 73/100 on livability (#18 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Petal School District (suburban): math 68% / reading 56% proficiency, ranked #2 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 228 active listings in the ZIP; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $822 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $115,333 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.19%
• DSCR: 1.85
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.1%
• Equity multiple: 1.44×
• Total profit: $14,619
• Equity at exit: $17,728

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $56,325
• Equity at exit: $10,280

Cash invested: $33,292 (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 39465

• Active inventory: 228
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,634 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $532

Break-even live

Break-even rent $960

Max offer price $118,900

Occupancy floor 62%

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: $29,725
• Closing costs: $3,567
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-16
   days on market $118,900 Active 35 DOM
2. 2026-06-15
   days on market $118,900 Active 34 DOM
3. 2026-06-14
   days on market $118,900 Active 32 DOM
4. 2026-06-13
   days on market $118,900 Active 31 DOM
5. 2026-06-10
   days on market $118,900 Active 29 DOM
6. 2026-06-09
   days on market $118,900 Active 28 DOM
7. 2026-06-08
   days on market $118,900 Active 27 DOM
8. 2026-06-07
   days on market $118,900 Active 26 DOM
9. 2026-06-05
   days on market $118,900 Active 23 DOM
10. 2026-06-02
    days on market $118,900 Active 21 DOM
11. 2026-06-01
    days on market $118,900 Active 20 DOM
12. 2026-05-31
    days on market $118,900 Active 19 DOM
13. 2026-05-30
    days on market $118,900 Active 18 DOM
14. 2026-05-12
    listed $118,900 Active 453-char remark
15. 2025-09-19
    soldstatus
16. 2023-09-15
    soldstatus Closed 743-char remark

    Show marketing remark (743 chars)

    TAKE ME HOME TO PETAL!!! This 3/2 chic, modern farm style home is now being offered for your consideration! Situated on 7.64 acres, this home offers it all from the custom wood ceilings, custom wood countertops throughout, stainless steel appliances, vinyl wood flooring, stunning hardware and light fixtures, built in home office and that's not all. The large master bedroom is accompanied by french barn doors leading to a very spacious bathroom with double vanities with vessel sinks, free standing tub, and large shower. The attached, 2 car carport also provides a workshop/storage room. This property offers the upmost privacy and YOU DO NOT WANT TO MISS OUT ON THIS ONE!!! Call for your own private showing today before it's too late!!!

17. 2023-09-15
    soldstatus

    Show marketing remark (743 chars)

    TAKE ME HOME TO PETAL!!! This 3/2 chic, modern farm style home is now being offered for your consideration! Situated on 7.64 acres, this home offers it all from the custom wood ceilings, custom wood countertops throughout, stainless steel appliances, vinyl wood flooring, stunning hardware and light fixtures, built in home office and that's not all. The large master bedroom is accompanied by french barn doors leading to a very spacious bathroom with double vanities with vessel sinks, free standing tub, and large shower. The attached, 2 car carport also provides a workshop/storage room. This property offers the upmost privacy and YOU DO NOT WANT TO MISS OUT ON THIS ONE!!! Call for your own private showing today before it's too late!!!

18. 2023-08-18
    status Pending 743-char remark

    Show marketing remark (743 chars)

    TAKE ME HOME TO PETAL!!! This 3/2 chic, modern farm style home is now being offered for your consideration! Situated on 7.64 acres, this home offers it all from the custom wood ceilings, custom wood countertops throughout, stainless steel appliances, vinyl wood flooring, stunning hardware and light fixtures, built in home office and that's not all. The large master bedroom is accompanied by french barn doors leading to a very spacious bathroom with double vanities with vessel sinks, free standing tub, and large shower. The attached, 2 car carport also provides a workshop/storage room. This property offers the upmost privacy and YOU DO NOT WANT TO MISS OUT ON THIS ONE!!! Call for your own private showing today before it's too late!!!

19. 2023-08-16
    listed $189,900 Active 743-char remark

    Show marketing remark (743 chars)

    TAKE ME HOME TO PETAL!!! This 3/2 chic, modern farm style home is now being offered for your consideration! Situated on 7.64 acres, this home offers it all from the custom wood ceilings, custom wood countertops throughout, stainless steel appliances, vinyl wood flooring, stunning hardware and light fixtures, built in home office and that's not all. The large master bedroom is accompanied by french barn doors leading to a very spacious bathroom with double vanities with vessel sinks, free standing tub, and large shower. The attached, 2 car carport also provides a workshop/storage room. This property offers the upmost privacy and YOU DO NOT WANT TO MISS OUT ON THIS ONE!!! Call for your own private showing today before it's too late!!!

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $19,610
• − Mortgage interest: −$6,660
• − Property taxes: −$1,028
• − Insurance: −$594
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$3,459
• Taxable income: $4,731
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $5,252/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: Petal School District
• NCES district ID: 2803530
• Math proficiency: 68% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $51,872
• Composite: 52.97/100
• National rank: #1526
• State rank: #2 of 130 in MS

Livability — Petal

• Score: 73/100
• State rank: #18
• US rank: #5565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Forrest County · 65,413 people
• City population: 22,882
• Metro: Hattiesburg, MS
• Population (ZIP): 22,882
• Household income: $74,035
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 199.0

Population outlook (Forrest County) Hauer SSP2

• Today (2025): 79,264 people
• By 2030: 80,822 · +2.0%
• By 2040: 82,979 · +4.7%
• By 2050: 84,324 · +6.4%
• By 2075: 84,942 · +7.2%
• By 2100: 80,616 · +1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 13% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Forrest

• 2024 margin: R (+17.9) · D 40.3% · R 58.2% · Other 1.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -13.5pp · 2024: -17.9pp
• All cycles: 2024: R+17.9 2020: R+11.1 2016: R+14.2 2012: R+11.7 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.97%
• Current HPI: 158.6021
• Rent YoY: —
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

5 events — show timeline

• 2025-09-19 Sold (Public Records) — Public Records
• 2023-09-15 Sold (Public Records) — Public Records
• 2023-09-15 Sold (MLS) — HAAR
• 2023-08-18 Pending — HAAR
• 2023-08-16 Listed $189,900 HAAR

Property tax history

+9.5%/yr

Latest (2025): $1,028 · -27.6% YoY. Source: county tax records.