116 S 21st Ave · Hattiesburg, MS 39401

$90,000

3 bd · 1.0 ba · 1,546 sqft · SingleFamily public records · 4 Days on market

Built 1943 0.61 ac lot Est $152k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

OVER 65 TAX EXEMPTION. PRECIOUS COTTAGE ON THE AVENUES. BEAUTIFUL HARDWOOD FLOORS. AC NEW JUNE/2003

Key facts

• Spacious yard
• Two lots
• Brick cottage

Tags

• BRICK COTTAGE
• TWO LOTS
• SPACIOUS YARD
• ROOF MATERIAL SHINGLE

Property features AI

Finance

• Other: Tax information available

Exterior

• Parking: Driveway; Paved parking; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential property; Subdivision: H'Burg Height; Zoned R
• Construction: Brick veneer construction; Raised foundation; Roof details provided in remarks
• Exterior features: Front porch; Porch; Level lot

Interior

• Flooring: Wood flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating specified; Window unit cooling
• Interior features: High ceilings

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

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 ($2k rent vs $90k).
• Cap rate 13.6% vs local median 4.0% in Hattiesburg — 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 79/100 on livability (#5 in MS, #2,046 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D+, crime D+, employment F.
• Hattiesburg Public School District (urban): math 25% / reading 26% proficiency, ranked #81 of 130 in MS (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 261 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• This rent runs 44% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 + 6.6% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.67% ✓
• Cap rate: 13.61%
• Cash-on-cash: 26.15%
• DSCR: 2.16
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $151,508
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
906 Quinn St	0.54mi	3/1.0	1,475 (-5%)	13mo	$139,900	$95	57
338 Venetian Way	0.60mi	4/3.0 (+1)	1,560 (+1%)	2mo	$149,900	$96	56
219 N 23rd Ave	0.38mi	3/2.0	1,652 (+7%)	15mo	$175,000	$106	54
412 N 20th Ave	0.59mi	3/1.0	1,502 (-3%)	23mo	$99,900	$67	49
1803 Mable St	0.61mi	3/1.5	1,715 (+11%)	6mo	$184,700	$108	47
1407 Concart St	0.66mi	2/1.0 (-1)	1,520 (-2%)	18mo	$149,000	$98	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.56% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.03×
• Total profit: $26,013
• Equity at exit: $13,419

10-year hold

• IRR: 34.0%
• Equity multiple: 4.67×
• Total profit: $92,495
• Equity at exit: $7,782

Cash invested: $25,200 (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 39401

• Rents YoY: 6.6%
• Active inventory: 261
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$472
• Tax from tax record: −$131 /mo · $1,572/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $549

Break-even live

Break-even rent $811

Max offer price $90,000

Occupancy floor 59%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Kimball Ave Hattiesburg, MS	3.0	1.0	1500	$1,375	$0.92	21d	1	0.22mi
307 S 23rd Ave Hattiesburg, MS	3.0	2.0	1300	$1,595	$1.23	43d	1	0.28mi
804 Pineview Dr Hattiesburg, MS	4.0	2.0	1880	$3,000	$1.60	21d	1	0.63mi
416 N 19th Ave Hattiesburg, MS	2.0	1.0	1100	$1,250	$1.14	21d	1	0.63mi
2304 W 7th St Hattiesburg, MS	1.0–3.0	1.0–2.5	1175	$1,065	$0.91	21d	1	0.84mi
313 S 11th Ave Hattiesburg, MS	3.0	2.0	1596	$1,850	$1.16	21d	1	0.90mi
720 N 28th Ave Hattiesburg, MS	3.0	2.5	1200	$1,307	$1.09	43d	3	1.14mi
3414 W 7th St Hattiesburg, MS	1.0–4.0	1.0–2.0	1075	$1,332	$1.24	43d	1	1.35mi
901 W Pine St Hattiesburg, MS	1.0–2.0	1.0–1.5	930	$1,200	$1.29	21d	1	1.37mi
318 N 38th Ave Hattiesburg, MS	2.0	2.0	1200	$1,060	$0.88	43d	2	1.47mi
300 N 38th Ave Apt 26 Hattiesburg, MS	2.0	1.5	1070	$1,035	$0.97	21d	1	1.49mi
300 N 38th Ave Unit 46 Hattiesburg, MS	2.0	1.5	1070	$1,035	$0.97	43d	1	1.49mi

Listing history 5 events

1. 2026-06-15
   status $90,000 Pending 4 DOM
2. 2026-06-15
   days on market $90,000 Active 4 DOM
3. 2026-06-14
   days on market $90,000 Active 2 DOM
4. 2026-06-13
   remarks 346-char remark
5. 2026-06-13
   listed $90,000 Active 1 DOM

ⓘ 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: $1,572 · $131/mo
• Projected year-2 tax: $1,572 · $131/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 1/10 Low
• 🌡 Heat 8/10 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: $18,070
• − Mortgage interest: −$5,041
• − Property taxes: −$1,572
• − Insurance: −$450
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$2,618
• Taxable income: $5,497
• Est. tax owed @ 24.0%: −$1,319
• After-tax cash flow: $5,270/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: Hattiesburg Public School District
• NCES district ID: 2801800
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $28,058
• Composite: 20.38/100
• National rank: #8595
• State rank: #81 of 130 in MS

Livability — Hattiesburg

• Score: 79/100
• State rank: #5
• US rank: #2046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hattiesburg, MS
• County: Forrest County · 65,413 people
• City population: 87,151
• Metro: Hattiesburg, MS
• Population (ZIP): 42,531
• Household income: $41,127
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 2534.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 52% White 40% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% 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: ▼ -148.93%
• Current HPI: 137.87
• Rent YoY: ▲ 6.56%
• Metro: Hattiesburg, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+12.6% since first listed

3 events — show timeline

• 2026-06-11 Listed $90,000 HAAR
• 2003-08-15 Sold (MLS) — HAAR
• 2003-05-13 Listed $79,900 HAAR

Property tax history

+3.0%/yr

Latest (2025): $1,572 · +18.8% YoY. Source: county tax records.