311 E Bankhead St · Fulton, MS 38843

$55,000

3 bd · 2.0 ba · 1,788 sqft · SingleFamily public records · 61 Days on market

Built 1959 0.30 ac lot ↓ 30% since listing

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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
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime opportunity for the savvy investor in the heart of Fulton! Sitting in a high-traffic, highly visible location near the busy intersection of South Adams Street & Main Street intersection, this property offers serious upside potential. The existing home--just under 1,800 sq ft--presents a solid candidate for a fix-and-flip renovation, rental conversion, or complete redevelopment. With its downtown positioning and strong exposure, it could also be an ideal spot for a small business venture. Whether you choose to rehab or start fresh, the possibilities here are wide open. Bring your vision and turn this prime location into your next successful project! Please sign the Hold Harmless

Key facts

• Visible location
• Rental conversion
• Downtown positioning

Tags

• HIGH TRAFFIC LOCATION
• VISIBLE LOCATION
• DOWNTOWN POSITIONING
• STRONG EXPOSURE
• FIX AND FLIP RENOVATION
• RENTAL CONVERSION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#133 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, employment D, amenities F.
• Itawamba County School District (rural): math 35% / reading 31% proficiency, ranked #58 of 130 in MS (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 114 active listings in the ZIP; 4 units permitted in Itawamba County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Itawamba County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.86% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.38%
• DSCR: 2.40
• GRM: 4.5

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: 26.3%
• Equity multiple: 2.09×
• Total profit: $16,768
• Equity at exit: $8,201

10-year hold

• IRR: 33.9%
• Equity multiple: 4.10×
• Total profit: $47,756
• Equity at exit: $4,755

Cash invested: $15,400 (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 38843

• Home prices YoY: -31.9%
• Active inventory: 114
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,023 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$94 /mo · $1,127/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $403

Break-even live

Break-even rent $513

Max offer price $55,000

Occupancy floor 56%

Sensitivity live

Price	-10% $434	-5% $418	+0% $403	+5% $387	+10% $372
Rent	-10% $322	-5% $362	+0% $403	+5% $443	+10% $484
Rate	-1.0pp $430	-0.5pp $417	base $403	+0.5pp $388	+1.0pp $374

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-01
   statusdays on market $55,000 Pending 61 DOM
2. 2026-03-27
   price $55,000
3. 2026-03-19
   listed $79,000 Active

ⓘ 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: $1,127 · $94/mo
• Projected year-2 tax: $1,127 · $94/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,273
• − Mortgage interest: −$3,081
• − Property taxes: −$1,127
• − Insurance: −$275
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$1,600
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,014
• After-tax cash flow: $3,818/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: Itawamba County School District
• NCES district ID: 2802100
• Math proficiency: 35% ▼ -19.00%
• Reading proficiency: 31% ▼ -14.00%
• Median HH income: $37,158
• Composite: 27.48/100
• National rank: #6956
• State rank: #58 of 130 in MS

Livability — Fulton

• Score: 64/100
• State rank: #133
• US rank: #14332

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fulton, MS
• Population (ZIP): 12,275

Population outlook (Itawamba County) Hauer SSP2

• Today (2025): 24,011 people
• By 2030: 23,999 · +-0.0%
• By 2040: 23,738 · -1.1%
• By 2050: 22,962 · -4.4%
• By 2075: 20,240 · -15.7%
• By 2100: 16,503 · -31.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 13% Two or more races 2%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Itawamba

• 2024 margin: Solid R (+80.0) · D 9.7% · R 89.7%
• 2008→2024 swing: -23.9pp toward R · 2008: -56.1pp · 2024: -80.0pp
• All cycles: 2024: R+80.0 2020: R+75.6 2016: R+75.6 2012: R+61.0 2008: R+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.26%
• Current HPI: 124.4402
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-30.4% since first listed

2 events — show timeline

• 2026-03-27 Price Changed $55,000 NEMSBD
• 2026-03-19 Listed $79,000 NEMSBD

Property tax history

+5.1%/yr

Latest (2025): $1,127 · +0.0% YoY. Source: county tax records.