1084 Dry Creek RD

Magee, MS 39111

$79,999C

2 bd · 2.0 ba · 896 sqft · Built 1999 · Manufactured · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $839/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $110/mo
• Annual: $1,321/yr
• Cap rate: 7.94%
• Cash-on-cash: 5.90%
• DSCR: 1.26
• 1% rule: 1.05%
• Cash to close: $22,400

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $80k. Condition is rated good.
• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($839 rent vs $80k).
• It's been on market 16 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($553 loan paydown + $2k appreciation (2.9% local appreciation)).
• Location reads 63/100 on livability (#158 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Simpson County School District (rural): math 18% / reading 24% proficiency, ranked #90 of 130 in MS (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 3 units permitted in Simpson County in 2024 (0 in 5+ unit buildings).
• Simpson County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 7.9% vs local median 3.6% in Magee — 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.

Questions for listing agent

• 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?
• Crime grade is F 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?
• 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.