119 Chestnut Street #16 St · Oxford, MS 38655

$315,000

2 bd · 0.5 ba · 864 sqft · Townhouse public records · 26 Days on market

Built 1972

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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 +12.0/30.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Schools +4.3/10.0
• Rent growth +3.7/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stress free living is what you will find with this upstairs condo in desirable Jackson Square Condominiums. The unit has been well maintained, carpet in the bedroom has been placed with wood. Jackson Square HOA fees include a trolley service to and from campus for football games.

Key facts

• Nearby shops
• Backs up to trees
• Popular neighborhood

Tags

• BACK PATIO
• NEARBY SHOPS
• POPULAR NEIGHBORHOOD
• FUNCTIONAL FLOORPAN
• NEW PAINT
• BACKS UP TO TREES

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Residential townhouse; Located in Jackson Square subdivision; Subdivision covenant zoning
• Construction: Brick construction; Slab foundation
• Exterior features: Patio

Interior

• Kitchen: Microwave; Dishwasher; Disposal; Electric range; Refrigerator; Electric water heater
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s)
• Interior features: Pantry; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/0.5-bath townhouse listed at $315k.

Deal economics

• At list price, monthly cash flow is $-77 ($-918/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (15.6% below list).
• Recommended offer: $266k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.8% in Oxford — 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 87/100 on livability (#1 in MS, #285 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-.
• Oxford School District (town): math 53% / reading 49% proficiency, ranked #12 of 130 in MS (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 856 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 503 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• At $2,659/mo this rent would consume 47% of the median local household income ($68k/yr) (locally 1892% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Lafayette County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago 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

• Climate carrying-cost: moderate wind risk, 26% 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 $265,869 (15.6% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.85% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.42×
• Total profit: $-50,838
• Equity at exit: $46,968

10-year hold

• IRR: -4.6%
• Equity multiple: 0.67×
• Total profit: $-28,903
• Equity at exit: $27,235

Cash invested: $88,200 (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 38655

• Rents YoY: 4.8%
• Active inventory: 856
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,659 medium
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $-77

Break-even live

Break-even rent $2,756

Max offer price $303,926

Occupancy floor 98%

Sensitivity live

Price	-10% $141	-5% $32	+0% $-77	+5% $-185	+10% $-294
Rent	-10% $-287	-5% $-182	+0% $-77	+5% $28	+10% $134
Rate	-1.0pp $82	-0.5pp $4	base $-77	+0.5pp $-158	+1.0pp $-241

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Jefferson Ave #303 Oxford, MS	2.0	2.0	1100	$3,450	$3.14	44d	1	0.66mi
301 Baldwin Dr Oxford, MS	1.0–3.0	1.0–3.0	935	$2,635	$2.82	24d	6	1.11mi

Listing history 19 events

1. 2026-06-21
   days on market $315,000 Active 26 DOM
2. 2026-06-19
   days on market $315,000 Active 24 DOM
3. 2026-06-18
   days on market $315,000 Active 23 DOM
4. 2026-06-17
   days on market $315,000 Active 22 DOM
5. 2026-06-16
   days on market $315,000 Active 21 DOM
6. 2026-06-15
   days on market $315,000 Active 20 DOM
7. 2026-06-14
   days on market $315,000 Active 18 DOM
8. 2026-06-12
   days on market $315,000 Active 17 DOM
9. 2026-06-09
   days on market $315,000 Active 14 DOM
10. 2026-06-09
    price $315,000 Active 13 DOM
11. 2026-06-08
    days on market $325,000 Active 13 DOM
12. 2026-06-07
    days on market $325,000 Active 12 DOM
13. 2026-06-02
    days on market $325,000 Active 7 DOM
14. 2026-06-01
    days on market $325,000 Active 6 DOM
15. 2026-05-31
    days on market $325,000 Active 5 DOM
16. 2026-05-30
    days on market $325,000 Active 4 DOM
17. 2026-05-26
    listed $325,000 Active
18. 2021-07-23
    soldstatus 280-char remark

    Show marketing remark (280 chars)

    Stress free living is what you will find with this upstairs condo in desirable Jackson Square Condominiums. The unit has been well maintained, carpet in the bedroom has been placed with wood. Jackson Square HOA fees include a trolley service to and from campus for football games.

19. 2021-05-05
    listed $159,900 280-char remark

    Show marketing remark (280 chars)

    Stress free living is what you will find with this upstairs condo in desirable Jackson Square Condominiums. The unit has been well maintained, carpet in the bedroom has been placed with wood. Jackson Square HOA fees include a trolley service to and from campus for football games.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $31,904
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,552
• − Management: −$2,552
• − Depreciation: −$9,164
• Taxable loss: −$6,309
• Est. tax savings @ 24.0%: +$1,514
• After-tax cash flow: $596/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: Oxford School District
• NCES district ID: 2803450
• Math proficiency: 53% ▼ -17.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $40,878
• Composite: 42.77/100
• National rank: #3152
• State rank: #12 of 130 in MS

Livability — Oxford

• Score: 87/100
• State rank: #1
• US rank: #285

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oxford, MS
• County: Lafayette County · 46,156 people
• City population: 46,156
• Metro: Oxford, MS
• Population (ZIP): 46,156
• Household income: $68,235
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 1892.0

Population outlook (Lafayette County) Hauer SSP2

• Today (2025): 66,984 people
• By 2030: 74,726 · +11.6%
• By 2040: 90,806 · +35.6%
• By 2050: 108,114 · +61.4%
• By 2075: 151,215 · +125.7%
• By 2100: 187,997 · +180.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 24% Hispanic / Latino 4% Asian 2% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Lafayette

• 2024 margin: Strong R (+21.8) · D 38.3% · R 60.0% · Other 1.7%
• 2008→2024 swing: -9.4pp toward R · 2008: -12.4pp · 2024: -21.8pp
• All cycles: 2024: R+21.8 2020: R+12.3 2016: R+14.8 2012: R+15.6 2008: R+12.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.86%
• Current HPI: 211.5486
• Rent YoY: ▲ 4.85%
• Metro: Oxford, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+103.3% since first listed

3 events — show timeline

• 2026-05-26 Listed $325,000 NCMBR
• 2021-07-23 Sold (MLS) — NCMBR
• 2021-05-05 Listed $159,900 NCMBR

Property tax history

-3.0%/yr

Latest (2025): $358 · +12.6% YoY. Source: county tax records.