27 Cr 256

Bethlehem, MS 38627

$144,900C+

4 bd · 2.5 ba · 2,368 sqft · Built 1987 · Manufactured · Active · 690 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,353/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $217/mo
• Annual: $2,605/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• 1% rule: 0.93%
• Cash to close: $40,572

Investor read

• This is a 4-bed/2.5-bath manufactured listed at $145k.
• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (6.6% below list).
• It's been on market 690 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.6% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lafayette County School District (town): math 47% / reading 40% proficiency, ranked #29 of 130 in MS (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 503 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• Lafayette County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.6% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wind risk, 26% 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.

Questions for listing agent

• It's been on market 690 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.