94 County Road 1214

Bay Springs, MS 39422

$50,000B

3 bd · 2.0 ba · 1,280 sqft · Built 2020 · Manufactured · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,042/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $478/mo
• Annual: $5,731/yr
• Cap rate: 17.76%
• Cash-on-cash: 40.94%
• DSCR: 2.82
• 1% rule: 2.08%
• Cash to close: $14,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $517 of equity ($346 loan paydown + $171 appreciation (0.3% local appreciation)).
• Location reads 65/100 on livability (#113 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• West Jasper Consolidated Schools (rural): math 38% / reading 34% proficiency, ranked #53 of 130 in MS (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 15 active listings in the ZIP; 3 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image shows visible damage and missing shingles.
• Major: exterior siding — The satellite image shows peeling paint and visible wear.
• Major: flooring — The satellite image shows visible wear and tear.
• Major: interior walls — The satellite image shows visible wear and tear.
• Major: HVAC/mechanicals — The satellite image shows visible wear and tear.
• Major: landscaping — The satellite image shows overgrown grass and weeds.