3174 W Topisaw · Summit, MS 39662

$75,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 102 Days on market

Manufactured home Built 2005 4.10 ac lot ↓ 21% since listing

---

Why this score? — see what drove the C+ 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 +24.6/30.0
• DSCR +7.9/10.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Peaceful country living on 4.1 acres in the desirable North Pike School District! This 2005 mobile home features 3 bedrooms and 2 full baths, a spacious living area, functional kitchen, and a private primary suite. Plus, enjoy peace of mind with a new roof and new AC unit. A great opportunity for space and quiet living!

Key facts

• New ac unit
• New roof
• 4.1 acre lot

Tags

• NORTH PIKE SCHOOL DISTRICT
• NEW ROOF
• NEW AC UNIT
• PRIVATE PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($792 rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#172 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: health & safety C-, amenities F, commute F.
• North Pike School District (town): math 25% / reading 32% proficiency, ranked #69 of 130 in MS (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Pike Elementary School (math 37% / reading 42%, grade F, #122 of 375 statewide, top 34%, 806 students, 100% FRL); North Pike Junior High School (math 26% / reading 24%, grade F, #99 of 179 statewide, top 55%, 353 students, 100% FRL); North Pike Senior High School (math 22% / reading 32%, grade F, #101 of 197 statewide, top 54%, 697 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 13 active listings in the ZIP; 10 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($519 loan paydown + $4k appreciation (5.8% local appreciation)).
• Pike County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.06% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.45×
• Total profit: $30,520
• Equity at exit: $46,095

10-year hold

• IRR: 21.2%
• Equity multiple: 4.92×
• Total profit: $82,283
• Equity at exit: $82,697

Cash invested: $21,000 (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 39662

• Home prices YoY: 4.0%
• Active inventory: 13
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $792 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$31
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $155

Break-even live

Break-even rent $596

Max offer price $75,000

Occupancy floor 75%

Sensitivity live

Price	-10% $197	-5% $176	+0% $155	+5% $134	+10% $113
Rent	-10% $92	-5% $124	+0% $155	+5% $186	+10% $218
Rate	-1.0pp $193	-0.5pp $174	base $155	+0.5pp $136	+1.0pp $116

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-24
   price $75,000 321-char remark

   Show marketing remark (321 chars)

   Peaceful country living on 4.1 acres in the desirable North Pike School District! This 2005 mobile home features 3 bedrooms and 2 full baths, a spacious living area, functional kitchen, and a private primary suite. Plus, enjoy peace of mind with a new roof and new AC unit. A great opportunity for space and quiet living!

2. 2026-04-02
   price $86,500 321-char remark

   Show marketing remark (321 chars)

   Peaceful country living on 4.1 acres in the desirable North Pike School District! This 2005 mobile home features 3 bedrooms and 2 full baths, a spacious living area, functional kitchen, and a private primary suite. Plus, enjoy peace of mind with a new roof and new AC unit. A great opportunity for space and quiet living!

3. 2026-02-13
   listed $95,000 Active 321-char remark

   Show marketing remark (321 chars)

   Peaceful country living on 4.1 acres in the desirable North Pike School District! This 2005 mobile home features 3 bedrooms and 2 full baths, a spacious living area, functional kitchen, and a private primary suite. Plus, enjoy peace of mind with a new roof and new AC unit. A great opportunity for space and quiet living!

4. 2015-07-31
   soldstatus

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $593 · $49/mo
• Expected delta: +$37/yr (+$3/mo · 6.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% 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: $9,507
• − Mortgage interest: −$4,201
• − Property taxes: −$555
• − Insurance: −$375
• − Repairs & maintenance: −$761
• − Management: −$761
• − Depreciation: −$2,182
• Taxable income: $672
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $1,699/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: North Pike School District
• NCES district ID: 2803240
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $41,558
• Composite: 24.13/100
• National rank: #7748
• State rank: #69 of 130 in MS

Livability — Summit

• Score: 62/100
• State rank: #172
• US rank: #16320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,219

Population outlook (Pike County) Hauer SSP2

• Today (2025): 38,766 people
• By 2030: 37,874 · -2.3%
• By 2040: 35,743 · -7.8%
• By 2050: 33,276 · -14.2%
• By 2075: 26,799 · -30.9%
• By 2100: 18,562 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 11% Two or more races 5% Asian 1%
• Common ancestry: Romanian 3%
• Foreign-born: 1%

Political lean MEDSL · Pike

• 2024 margin: Toss-up / Even · D 47.8% · R 51.3%
• 2008→2024 swing: -7.0pp toward R · 2008: 3.5pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+1.0 2016: R+0.7 2012: D+7.6 2008: D+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.78%
• Current HPI: 149.5079
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.1% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $75,000 MLSU
• 2026-04-02 Price Changed $86,500 MLSU
• 2026-02-13 Listed $95,000 MLSU
• 2015-07-31 Sold (Public Records) — Public Records

Property tax history

+22.5%/yr

Latest (2025): $555 · -5.6% YoY. Source: county tax records.