186 County Road 989 Lot 3

Iuka, MS 38852

$79,000C

3 bd · 2.0 ba · 980 sqft · Built 1992 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $869/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $140/mo
• Annual: $1,685/yr
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• 1% rule: 1.10%
• Cash to close: $22,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($869 rent vs $79k).
• It's been on market 25 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#150 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools D, amenities F, commute F.
• Tishomingo County Sp Mun School District (rural): math 37% / reading 39% proficiency, ranked #49 of 130 in MS (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 200 active listings in the ZIP; 1 units permitted in Tishomingo County in 2024 (0 in 5+ unit buildings).
• Tishomingo County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.