869 Pine Tree Dr · Senatobia, MS 38668

$149,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 5 Days on market

Manufactured home Built 1993 0.92 ac lot

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Why this score? — see what drove the F 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 +11.2/30.0
• ARV discount +7.5/15.0
• DSCR +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This manufactured home is located in Senatobia Lakes Subdivision. This subdivision is only approx. 10 mins from I-55 in Senatobia, MS with great shopping and restaurants. Approx. 10 mins from Northwest MS Community College. This 3 bedroom 2 full bath home sits on a huge lot with a huge workshop (24.3' X 39.6') with electricity, and two storage buildings and a detached garage. This home has a metal roof and brick underpinning. It has a split floor plan with large open kitchen, dining room, and living room. The master bedroom has a walk-in closet and a bathroom with a large tub and a separate shower. Living in the subdivision you can walk to it's lake.

Key facts

• Metal roof
• Split floor plan
• Brick underpinning

Tags

• HUGE WORKSHOP
• TWO STORAGE BUILDINGS
• DETACHED GARAGE
• METAL ROOF
• BRICK UNDERPINNING
• SPLIT FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $-57 ($-685/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (27.7% below list).
• Recommended offer: $108k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.9% in Senatobia — 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 64/100 on livability (#130 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tate County School District (rural): math 28% / reading 27% proficiency, ranked #74 of 130 in MS (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Tate Elementary School (math 31% / reading 31%, grade F, #185 of 375 statewide, top 49%, 461 students, 99% FRL); Independence High School (math 32% / reading 20%, grade F, #108 of 197 statewide, top 55%, 462 students, 99% FRL) — zoned schools average 99% FRL vs 69% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 120 active listings in the ZIP; 114 units permitted in Tate County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tate County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $107,775 (27.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.72% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 11.5

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: -19.1%
• Equity multiple: 0.33×
• Total profit: $-27,840
• Equity at exit: $22,216

10-year hold

• IRR: -11.7%
• Equity multiple: 0.30×
• Total profit: $-29,163
• Equity at exit: $12,883

Cash invested: $41,720 (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 38668

• Home prices YoY: -13.8%
• Active inventory: 120
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$65 /mo · $781/yr
• Insurance: −$62
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $-57

Break-even live

Break-even rent $1,150

Max offer price $138,911

Occupancy floor —

Sensitivity live

Price	-10% $27	-5% $-15	+0% $-57	+5% $-99	+10% $-141
Rent	-10% $-142	-5% $-100	+0% $-57	+5% $-15	+10% $28
Rate	-1.0pp $18	-0.5pp $-19	base $-57	+0.5pp $-96	+1.0pp $-135

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-08
   status Pending 658-char remark

   Show marketing remark (658 chars)

   This manufactured home is located in Senatobia Lakes Subdivision. This subdivision is only approx. 10 mins from I-55 in Senatobia, MS with great shopping and restaurants. Approx. 10 mins from Northwest MS Community College. This 3 bedroom 2 full bath home sits on a huge lot with a huge workshop (24.3' X 39.6') with electricity, and two storage buildings and a detached garage. This home has a metal roof and brick underpinning. It has a split floor plan with large open kitchen, dining room, and living room. The master bedroom has a walk-in closet and a bathroom with a large tub and a separate shower. Living in the subdivision you can walk to it's lake.

2. 2026-04-08
   status Pending

   Show marketing remark (658 chars)

   This manufactured home is located in Senatobia Lakes Subdivision. This subdivision is only approx. 10 mins from I-55 in Senatobia, MS with great shopping and restaurants. Approx. 10 mins from Northwest MS Community College. This 3 bedroom 2 full bath home sits on a huge lot with a huge workshop (24.3' X 39.6') with electricity, and two storage buildings and a detached garage. This home has a metal roof and brick underpinning. It has a split floor plan with large open kitchen, dining room, and living room. The master bedroom has a walk-in closet and a bathroom with a large tub and a separate shower. Living in the subdivision you can walk to it's lake.

3. 2026-04-03
   listed $149,000 Active 658-char remark

   Show marketing remark (658 chars)

   This manufactured home is located in Senatobia Lakes Subdivision. This subdivision is only approx. 10 mins from I-55 in Senatobia, MS with great shopping and restaurants. Approx. 10 mins from Northwest MS Community College. This 3 bedroom 2 full bath home sits on a huge lot with a huge workshop (24.3' X 39.6') with electricity, and two storage buildings and a detached garage. This home has a metal roof and brick underpinning. It has a split floor plan with large open kitchen, dining room, and living room. The master bedroom has a walk-in closet and a bathroom with a large tub and a separate shower. Living in the subdivision you can walk to it's lake.

4. 2026-04-02
   listed $149,000 Active
5. 2015-05-28
   soldstatus 747-char remark

   Show marketing remark (747 chars)

   You won't believe this is a modular home! Permanent brick wrapped foundation with a brand new metal roof. Large front porch; huge lot with mature trees. Split floor plan with large, open kitchen/great room. Kitchen remodeled 4 yrs ago with upgraded cabinets and new flooring. Master bedroom has a walk-in closet and a bath with garden tub and separate shower. Huge 24' x 48' workshop with double 12' doors and 220 electric. This property also provides a detached two car garage and two smaller storage buildings. A short 350 ft stroll brings you to the subdivision's lake. The home is on public water but also has a private well. Siding on the house and outbuildings require little to no maintenance. All appliances and hutch remain with the home.

6. 2015-02-10
   listed $85,000 747-char remark

   Show marketing remark (747 chars)

   You won't believe this is a modular home! Permanent brick wrapped foundation with a brand new metal roof. Large front porch; huge lot with mature trees. Split floor plan with large, open kitchen/great room. Kitchen remodeled 4 yrs ago with upgraded cabinets and new flooring. Master bedroom has a walk-in closet and a bath with garden tub and separate shower. Huge 24' x 48' workshop with double 12' doors and 220 electric. This property also provides a detached two car garage and two smaller storage buildings. A short 350 ft stroll brings you to the subdivision's lake. The home is on public water but also has a private well. Siding on the house and outbuildings require little to no maintenance. All appliances and hutch remain with the home.

7. 2015-02-10
   historical

   Show marketing remark (747 chars)

   You won't believe this is a modular home! Permanent brick wrapped foundation with a brand new metal roof. Large front porch; huge lot with mature trees. Split floor plan with large, open kitchen/great room. Kitchen remodeled 4 yrs ago with upgraded cabinets and new flooring. Master bedroom has a walk-in closet and a bath with garden tub and separate shower. Huge 24' x 48' workshop with double 12' doors and 220 electric. This property also provides a detached two car garage and two smaller storage buildings. A short 350 ft stroll brings you to the subdivision's lake. The home is on public water but also has a private well. Siding on the house and outbuildings require little to no maintenance. All appliances and hutch remain with the home.

8. 2015-02-06
   listed $85,000
9. 2014-10-16
   historical
10. 2014-09-05
    listed $94,900
11. 1995-11-01
    soldstatus

ⓘ 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: $781 · $65/mo
• Projected year-2 tax: $1,177 · $98/mo
• Expected delta: +$396/yr (+$33/mo · 50.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,933
• − Mortgage interest: −$8,346
• − Property taxes: −$781
• − Insurance: −$745
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$4,335
• Taxable loss: −$3,343
• Est. tax savings @ 24.0%: +$802
• After-tax cash flow: $117/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: Tate County School District
• NCES district ID: 2804230
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $41,975
• Composite: 23.38/100
• National rank: #7903
• State rank: #74 of 130 in MS

Livability — Senatobia

• Score: 64/100
• State rank: #130
• US rank: #14184

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,123

Population outlook (Tate County) Hauer SSP2

• Today (2025): 27,577 people
• By 2030: 26,872 · -2.6%
• By 2040: 25,319 · -8.2%
• By 2050: 23,590 · -14.5%
• By 2075: 19,500 · -29.3%
• By 2100: 15,468 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 36% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Serbian 2% Iranian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Tate

• 2024 margin: Solid R (+43.8) · D 27.6% · R 71.4%
• 2008→2024 swing: -22.8pp toward R · 2008: -20.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+34.5 2016: R+31.4 2012: R+18.4 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.19%
• Current HPI: 226.9896
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+57.0% since first listed

11 events — show timeline

• 2026-04-08 Pending — NCMBR
• 2026-04-08 Pending — MLSU
• 2026-04-03 Listed $149,000 NCMBR
• 2026-04-02 Listed $149,000 MLSU
• 2015-05-28 Sold (MLS) — MLSU
• 2015-02-10 Listing Removed — MLSU
• 2015-02-10 Listed $85,000 MLSU
• 2015-02-06 Listed $85,000 MLSU
• 2014-10-16 Listing Removed — MLSU
• 2014-09-05 Listed $94,900 MLSU
• 1995-11-01 Sold (Public Records) — Public Records

Property tax history

+15.7%/yr

Latest (2025): $781 · +24.5% YoY. Source: county tax records.