1015 Lomax Ln · Crystal Springs, MS 39059

$64,500

3 bd · 2.0 ba · 1,200 sqft · Manufactured public records · 48 Days on market

Built 2008 4.30 ac lot

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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
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bank-owned opportunity in serene Crystal Springs! This 2008 doublewide manufactured home sits on 4.26+/- acres of peaceful, private, wooded land--perfect for country living, gardening, animals, or backyard deer hunting opportunities. Featuring 1,280+/- sq ft with a welcoming open-concept split floor plan, 3 bedrooms, 2 baths, and a cozy wood-burning fireplace anchoring the spacious living room. Enjoy the covered front porch for relaxing evenings after a day outdoors. Ideal for buyers seeking affordable acreage with room to grow. Sold as-is--bring your offers and schedule a showing today!

Key facts

• Covered front porch
• Private wooded land
• 4.26 acres

Tags

• 4.26 ACRES
• PRIVATE WOODED LAND
• OPEN-CONCEPT SPLIT FLOOR PLAN
• COZY WOOD-BURNING FIREPLACE
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% vs local median 5.1% in Crystal Springs — 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.

Location & tenants

• Location reads 59/100 on livability (#252 in MS) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Copiah County School District (rural): math 27% / reading 28% proficiency, ranked #76 of 130 in MS (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 56 active listings in the ZIP; 8 units permitted in Copiah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $446 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Copiah County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $64k implies a 303% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; moderate 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 $62,565 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.24% ✓
• Cap rate: 20.34%
• Cash-on-cash: 50.17%
• DSCR: 3.23
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 38.5%
• Equity multiple: 2.65×
• Total profit: $29,729
• Equity at exit: $9,617

10-year hold

• IRR: 45.0%
• Equity multiple: 5.31×
• Total profit: $77,796
• Equity at exit: $5,577

Cash invested: $18,060 (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 39059

• Home prices YoY: -15.9%
• Active inventory: 56
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,442 medium
• Mortgage (P&I): −$338
• Tax from tax record: −$19 /mo · $229/yr
• Insurance: −$27
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $630

Break-even live

Break-even rent $645

Max offer price $64,500

Occupancy floor 51%

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-06
   price $64,500 594-char remark

   Show marketing remark (594 chars)

   Bank-owned opportunity in serene Crystal Springs! This 2008 doublewide manufactured home sits on 4.26+/- acres of peaceful, private, wooded land--perfect for country living, gardening, animals, or backyard deer hunting opportunities. Featuring 1,280+/- sq ft with a welcoming open-concept split floor plan, 3 bedrooms, 2 baths, and a cozy wood-burning fireplace anchoring the spacious living room. Enjoy the covered front porch for relaxing evenings after a day outdoors. Ideal for buyers seeking affordable acreage with room to grow. Sold as-is--bring your offers and schedule a showing today!

2. 2026-04-11
   status Active 594-char remark

   Show marketing remark (594 chars)

   Bank-owned opportunity in serene Crystal Springs! This 2008 doublewide manufactured home sits on 4.26+/- acres of peaceful, private, wooded land--perfect for country living, gardening, animals, or backyard deer hunting opportunities. Featuring 1,280+/- sq ft with a welcoming open-concept split floor plan, 3 bedrooms, 2 baths, and a cozy wood-burning fireplace anchoring the spacious living room. Enjoy the covered front porch for relaxing evenings after a day outdoors. Ideal for buyers seeking affordable acreage with room to grow. Sold as-is--bring your offers and schedule a showing today!

3. 2026-03-25
   status Pending 594-char remark

   Show marketing remark (594 chars)

   Bank-owned opportunity in serene Crystal Springs! This 2008 doublewide manufactured home sits on 4.26+/- acres of peaceful, private, wooded land--perfect for country living, gardening, animals, or backyard deer hunting opportunities. Featuring 1,280+/- sq ft with a welcoming open-concept split floor plan, 3 bedrooms, 2 baths, and a cozy wood-burning fireplace anchoring the spacious living room. Enjoy the covered front porch for relaxing evenings after a day outdoors. Ideal for buyers seeking affordable acreage with room to grow. Sold as-is--bring your offers and schedule a showing today!

4. 2026-03-18
   listed $69,500 Active 594-char remark

   Show marketing remark (594 chars)

   Bank-owned opportunity in serene Crystal Springs! This 2008 doublewide manufactured home sits on 4.26+/- acres of peaceful, private, wooded land--perfect for country living, gardening, animals, or backyard deer hunting opportunities. Featuring 1,280+/- sq ft with a welcoming open-concept split floor plan, 3 bedrooms, 2 baths, and a cozy wood-burning fireplace anchoring the spacious living room. Enjoy the covered front porch for relaxing evenings after a day outdoors. Ideal for buyers seeking affordable acreage with room to grow. Sold as-is--bring your offers and schedule a showing today!

5. 2026-02-02
   historical
6. 2026-01-30
   price $62,000
7. 2026-01-23
   price $72,000
8. 2025-12-16
   price $85,000
9. 2025-10-06
   price $98,000
10. 2025-09-08
    price $108,000
11. 2025-08-20
    price $118,000
12. 2025-07-24
    price $128,000
13. 2025-06-12
    listed $135,000 Active
14. 2008-06-10
    soldstatus $16,000

ⓘ 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: $229 · $19/mo
• Projected year-2 tax: $510 · $42/mo
• Expected delta: +$281/yr (+$23/mo · 122.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 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: $17,306
• − Mortgage interest: −$3,613
• − Property taxes: −$229
• − Insurance: −$1,825
• − Repairs & maintenance: −$1,384
• − Management: −$1,384
• − Depreciation: −$1,876
• Taxable income: $6,994
• Est. tax owed @ 24.0%: −$1,679
• After-tax cash flow: $5,881/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: Copiah County School District
• NCES district ID: 2801220
• Math proficiency: 27% ▼ -7.00%
• Reading proficiency: 28% ▼ -4.00%
• Median HH income: $38,801
• Composite: 23.07/100
• National rank: #7966
• State rank: #76 of 130 in MS

Livability — Crystal Springs

• Score: 59/100
• State rank: #252
• US rank: #20290

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 12,065
• Population (ZIP): 12,065

Population outlook (Copiah County) Hauer SSP2

• Today (2025): 27,625 people
• By 2030: 26,633 · -3.6%
• By 2040: 24,390 · -11.7%
• By 2050: 22,160 · -19.8%
• By 2075: 17,384 · -37.1%
• By 2100: 13,427 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (55%)
• Race & ethnicity: Black 55% White 40% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Copiah

• 2024 margin: Lean R (+6.1) · D 46.5% · R 52.6%
• 2008→2024 swing: -13.0pp toward R · 2008: 7.0pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: D+1.7 2016: D+5.3 2012: D+11.4 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.34%
• Current HPI: 160.3583
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+303.1% since first listed

14 events — show timeline

• 2026-05-06 Price Changed $64,500 MLSU
• 2026-04-11 Relisted — MLSU
• 2026-03-25 Pending — MLSU
• 2026-03-18 Listed $69,500 MLSU
• 2026-02-02 Listing Removed — MLSU
• 2026-01-30 Price Changed $62,000 MLSU
• 2026-01-23 Price Changed $72,000 MLSU
• 2025-12-16 Price Changed $85,000 MLSU
• 2025-10-06 Price Changed $98,000 MLSU
• 2025-09-08 Price Changed $108,000 MLSU
• 2025-08-20 Price Changed $118,000 MLSU
• 2025-07-24 Price Changed $128,000 MLSU
• 2025-06-12 Listed $135,000 MLSU
• 2008-06-10 Sold (Public Records) $16,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $229 · +2.9% YoY. Source: county tax records.