56 Water Tank Dr · Tremont, MS 38876

$54,200

3 bd · 1.5 ba · 1,131 sqft · Other public records · 86 Days on market

Built 1976 0.50 ac lot ↓ 13% 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
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

US Dept. of HUD Owned. Case#281-489902. Equal Housing Opportunity. Sold As-Is. 3 bed/ 1 bath situated on a . 50 acre lot. Insured Escrow IE, 203K eligible, Subject to FHA Appraisal. Lead Base Paint addendum required. Buyers select closing Agent/Firm. Seller may contribute up to 3% for buyers closing costs upon buyer request. Buyers are responsible for verifying all square footage, taxes & schools before making an offer . Seller and seller's agents make no representations or warranties as to property condition.

Key facts

• 0.5 acre lot
• Built 1976
• Listed 86 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $54k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($969 rent vs $54k).
• Recommended offer: $51k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#180 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools D-, amenities F, commute 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: 5 active listings in the ZIP; 4 units permitted in Itawamba County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($375 loan paydown + $4k appreciation (7.8% local appreciation)).
• Itawamba County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $31k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.
• 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 $50,948 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.79% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.18%
• DSCR: 2.12
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.76% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.6%
• Equity multiple: 3.76×
• Total profit: $41,827
• Equity at exit: $40,279

10-year hold

• IRR: 35.5%
• Equity multiple: 8.01×
• Total profit: $106,388
• Equity at exit: $79,113

Cash invested: $15,176 (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 38876

• Home prices YoY: 7.9%
• Active inventory: 5
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $969 medium
• Mortgage (P&I): −$284
• Tax from tax record: −$141 /mo · $1,687/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $318

Break-even live

Break-even rent $566

Max offer price $54,200

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: $13,550
• Closing costs: $1,626
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-05
   statusdays on market $54,200 Pending 86 DOM
2. 2026-06-03
   price $54,200 Active 85 DOM
3. 2026-06-02
   days on market $61,000 Active 85 DOM
4. 2026-06-01
   days on market $61,000 Active 84 DOM
5. 2026-05-31
   days on market $61,000 Active 83 DOM
6. 2026-05-30
   days on market $61,000 Active 82 DOM
7. 2026-04-28
   price $61,000 521-char remark

   Show marketing remark (521 chars)

   US Dept. of HUD Owned. Case#281-489902. Equal Housing Opportunity. Sold As-Is. 3 bed/ 1 bath situated on a . 50 acre lot. Insured Escrow IE, 203K eligible, Subject to FHA Appraisal. Lead Base Paint addendum required. Buyers select closing Agent/Firm. Seller may contribute up to 3% for buyers closing costs upon buyer request. Buyers are responsible for verifying all square footage, taxes & schools before making an offer . Seller and seller's agents make no representations or warranties as to property condition.

8. 2026-03-28
   price $72,000 521-char remark

   Show marketing remark (521 chars)

   US Dept. of HUD Owned. Case#281-489902. Equal Housing Opportunity. Sold As-Is. 3 bed/ 1 bath situated on a . 50 acre lot. Insured Escrow IE, 203K eligible, Subject to FHA Appraisal. Lead Base Paint addendum required. Buyers select closing Agent/Firm. Seller may contribute up to 3% for buyers closing costs upon buyer request. Buyers are responsible for verifying all square footage, taxes & schools before making an offer . Seller and seller's agents make no representations or warranties as to property condition.

9. 2026-03-06
   listed $85,000 Active 521-char remark

   Show marketing remark (521 chars)

   US Dept. of HUD Owned. Case#281-489902. Equal Housing Opportunity. Sold As-Is. 3 bed/ 1 bath situated on a . 50 acre lot. Insured Escrow IE, 203K eligible, Subject to FHA Appraisal. Lead Base Paint addendum required. Buyers select closing Agent/Firm. Seller may contribute up to 3% for buyers closing costs upon buyer request. Buyers are responsible for verifying all square footage, taxes & schools before making an offer . Seller and seller's agents make no representations or warranties as to property condition.

10. 2019-11-08
    soldstatus 338-char remark

    Show marketing remark (338 chars)

    Talk about move in ready! This 3br/2ba home located next to Tremont School is ideal for those looking to downsize or just starting out. This 1200sqft brick home sits on 1/2 an acre, has an attached double carport, sunroom/bonus room and comes with all appliances. New paint and flooring just installed! All info subject to verification.

11. 2019-05-20
    listed $84,900 338-char remark

    Show marketing remark (338 chars)

    Talk about move in ready! This 3br/2ba home located next to Tremont School is ideal for those looking to downsize or just starting out. This 1200sqft brick home sits on 1/2 an acre, has an attached double carport, sunroom/bonus room and comes with all appliances. New paint and flooring just installed! All info subject to verification.

12. 2015-07-09
    soldstatus
13. 2015-04-29
    listed $69,900

ⓘ 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: $1,687 · $141/mo
• Projected year-2 tax: $1,687 · $141/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 4/10 Moderate
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,633
• − Mortgage interest: −$3,036
• − Property taxes: −$1,687
• − Insurance: −$271
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$1,577
• Taxable income: $3,201
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $3,053/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 — Tremont

• Score: 62/100
• State rank: #180
• US rank: #16869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tremont, MS
• Population (ZIP): 1,168

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 (100%)
• Race & ethnicity: White 100%
• Common ancestry: Italian 5% Slovak 2%

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: ▲ 7.76%
• Current HPI: 106.2474
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-12.7% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $61,000 NEMSBD
• 2026-03-28 Price Changed $72,000 NEMSBD
• 2026-03-06 Listed $85,000 NEMSBD
• 2019-11-08 Sold (MLS) — NEMSBD
• 2019-05-20 Listed $84,900 NEMSBD
• 2015-07-09 Sold (MLS) — NEMSBD
• 2015-04-29 Listed $69,900 NEMSBD

Property tax history

+15.7%/yr

Latest (2025): $1,687 · +107.1% YoY. Source: county tax records.