303 Central St

Belzoni, MS 39038

$78,000B-

2 bd · 1.0 ba · 2,260 sqft · Built 1901 · Other · Active · 329 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,097/mo
• Mortgage (P&I): −$409
• Tax + insurance: −$173
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $284/mo
• Annual: $3,410/yr
• Cap rate: 10.66%
• Cash-on-cash: 15.61%
• DSCR: 1.69
• 1% rule: 1.41%
• Cash to close: $21,840

Investor read

• This is a 2-bed/1.0-bath other listed at $78k.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• It's been on market 329 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#244 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Humphreys County School District (town): math 3% / reading 9% proficiency, ranked #128 of 130 in MS (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 96% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ida Greene Lower Elementary (math 2% / reading 9%, grade F, #355 of 375 statewide, top 95%, 370 students, 100% FRL); O M Mc Nair Middle School (math 3% / reading 10%, grade F, #171 of 179 statewide, top 97%, 413 students, 100% FRL); Humphreys County High School (math 2% / reading 8%, grade F, #193 of 197 statewide, top 99%, 424 students, 100% FRL) — zoned schools at 100% FRL track the district average.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP.
• Humphreys County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 48% 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.

Questions for listing agent

• It's been on market 329 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.