3840 Morton-rankin County Line Rd Unit 1-11, 13 · Morton, MS 39117

$260,000

33 bd · 18.7 ba · 11,000 sqft · MultiFamily · 193 Days on market

Built 1954 Fair condition 2.40 ac lot $24/sqft · at area comps Est $260k · at est. ↓ 26% 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 +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

Key facts

• 2.4 acre lot
• Built 1954
• Listed 193 days

What this means for you Summary

Snapshot

• This is a 11 × 3-bed/?-bath units multifamily listed at $260k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $6k ($73k/yr) — positive. Per door: $552/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $260k).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#249 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Scott County School District (rural): math 30% / reading 28% proficiency, ranked #71 of 130 in MS (top 55%) — 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: 36 active listings in the ZIP; 19 units permitted in Scott County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (6.0% local appreciation)).
• Scott County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $55k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.83% ✓
• Cap rate: 34.34%
• Cash-on-cash: 100.16%
• DSCR: 5.46
• GRM: 2.2

CMA / ARV

• ARV (median comp): $260,000
• List price: $260,000
• Delta: —
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3840 Morton-rankin County Line Rd Unit 1-11, 13	0.00mi	33/19.0	11,000 (0%)	0mo	$260,000	$24	99

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.34×
• Total profit: $461,403
• Equity at exit: $162,574

10-year hold

• IRR: —
• Equity multiple: 15.49×
• Total profit: $1,054,677
• Equity at exit: $294,069

Cash invested: $72,800 (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 39117

• Home prices YoY: 3.8%
• Active inventory: 36
• Price-to-rent: 23.9×

Monthly cashflow live

• Estimated rent: $9,966 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,093
• Net cashflow: $6,076

Break-even live

Break-even rent $2,274

Max offer price $260,000

Occupancy floor 34%

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 11× units	3	—	$9,966
Total (11 units)			$9,966

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-10
   status Pending 673-char remark

   Show marketing remark (673 chars)

   Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

2. 2026-03-20
   status Active 673-char remark

   Show marketing remark (673 chars)

   Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

3. 2026-02-03
   status Pending 673-char remark

   Show marketing remark (673 chars)

   Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

4. 2026-01-15
   price $260,000 673-char remark

   Show marketing remark (673 chars)

   Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

5. 2025-10-08
   price $290,000 673-char remark

   Show marketing remark (673 chars)

   Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

6. 2025-09-13
   listed $315,000 Active 673-char remark

   Show marketing remark (673 chars)

   Own your very own Country Park located on 2.4 acres for just $260,000. With plenty of room for expansion this property currently includes 12 rental units (11 manufactured homes and 1 house) plus an additional vacant pad. With an average acquisition cost of $24,166 per door, each unit generates an average of approximately $650 in monthly rent, providing a total of $7,800 per month and an impressive potential annual income of $93,600. Conveniently located just outside of Jackson, MS, this property offers a turnkey investment with strong cash flow. Priced to sell this won't last long! Contact your favorite Realtor for more details on this incredible deal today.

7. 2025-07-15
   status Active
8. 2025-05-13
   status Pending
9. 2025-05-13
   historical
10. 2025-04-13
    price $338,000
11. 2024-11-07
    listed $350,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $119,592
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$9,567
• − Management: −$9,567
• − Depreciation: −$7,564
• Taxable income: $73,130
• Est. tax owed @ 24.0%: −$17,551
• After-tax cash flow: $55,365/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and updates to its exterior, interior, and systems, but presents a good opportunity for investment with potential for substantial value increase.

Repairs flagged

• Major roof — Signs of significant wear
• Major exterior siding — Weathered and peeling
• Major flooring — Worn and in need of replacement
• Major interior walls — Painted walls with visible wear
• Major bathrooms — Needs updating
• Major kitchen — Needs updating
• Major HVAC/mechanicals — Needs updating

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace worn carpet — Improves comfort and value
• Both Update bathrooms — Enhances functionality and value
• Both Update kitchen — Enhances functionality and value
• Both Replace HVAC system — Improves comfort and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of significant wear	Major	$15,000–50,000
exterior siding · Weathered and peeling	Major	$15,000–50,000
flooring · Worn and in need of replacement	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
bathrooms · Needs updating	Major	$15,000–50,000
kitchen · Needs updating	Major	$15,000–50,000
HVAC/mechanicals · Needs updating	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace worn carpet — Improves comfort and value ↑
• Both Update bathrooms — Enhances functionality and value ↑
• Both Update kitchen — Enhances functionality and value ↑
• Both Replace HVAC system — Improves comfort and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Scott County School District
• NCES district ID: 2803900
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $34,396
• Composite: 23.9/100
• National rank: #7793
• State rank: #71 of 130 in MS

Livability — Morton

• Score: 59/100
• State rank: #249
• US rank: #20218

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,638
• Population (ZIP): 9,638

Population outlook (Scott County) Hauer SSP2

• Today (2025): 28,200 people
• By 2030: 27,923 · -1.0%
• By 2040: 26,898 · -4.6%
• By 2050: 25,341 · -10.1%
• By 2075: 20,244 · -28.2%
• By 2100: 13,845 · -50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Black 20% Hispanic / Latino 19% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 83% English-only · Spanish 17%

Political lean MEDSL · Scott

• 2024 margin: Strong R (+23.9) · D 37.7% · R 61.6%
• 2008→2024 swing: -10.6pp toward R · 2008: -13.3pp · 2024: -23.9pp
• All cycles: 2024: R+23.9 2020: R+18.2 2016: R+17.7 2012: R+9.0 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.95%
• Current HPI: 163.0304
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-25.7% since first listed

11 events — show timeline

• 2026-05-10 Pending — MLSU
• 2026-03-20 Relisted — MLSU
• 2026-02-03 Pending — MLSU
• 2026-01-15 Price Changed $260,000 MLSU
• 2025-10-08 Price Changed $290,000 MLSU
• 2025-09-13 Listed $315,000 MLSU
• 2025-07-15 Relisted — MLSU
• 2025-05-13 Pending — MLSU
• 2025-05-13 Listing Removed — MLSU
• 2025-04-13 Price Changed $338,000 MLSU
• 2024-11-07 Listed $350,000 MLSU