207 Wheeler St · Okolona, MS 38860

$134,900

4 bd · 2.0 ba · 2,432 sqft · Manufactured public records · 29 Days on market

Built 2018 10,800 sqft lot

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Why this score? — see what drove the C 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +4.8/10.0
• 1% rule +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Beautiful and spacious 4 bed, 2 bath home offering plenty of room. This well maintained property features two separate living areas, providing flexible space for entertaining, relaxing, or creating a home office or playroom. One of the standout features is the guest bathroom, which includes a unique dual shower setup with two separate showers for added convenience and functionality. Recent updates include some newer flooring, adding a fresh touch to portions of the home. With its generous layout, distinctive features, and inviting atmosphere, this property is a must see.

Key facts

• Dual shower setup
• Newer flooring
• Guest bathroom

Tags

• TWO SEPARATE LIVING AREAS
• GUEST BATHROOM
• DUAL SHOWER SETUP
• NEWER FLOORING

Property features AI

Finance

• Financial info: Annual taxes approximately $950

Exterior

• Home design: Single-story doublewide mobile home; Residential property type
• Construction: Mobile home construction
• Exterior features: Lot approximately 72 x 150; Residential zoning

Interior

• Bathrooms: Two full bathrooms
• Interior features: Six total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $211 ($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 $128k (5.5% below list).
• Recommended offer: $128k (5.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#191 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Okolona Separate School District (rural): math 24% / reading 17% proficiency, ranked #93 of 130 in MS (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 92% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 7 units permitted in Chickasaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $442 of equity ($933 loan paydown + $-491 appreciation (-0.4% local appreciation)).
• Chickasaw County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,511 (5.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 8.17%
• Cash-on-cash: 6.71%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.19×
• Total profit: $7,151
• Equity at exit: $36,731

10-year hold

• IRR: 9.7%
• Equity multiple: 2.02×
• Total profit: $38,439
• Equity at exit: $42,251

Cash invested: $37,772 (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 38860

• Home prices YoY: -0.3%
• Active inventory: 25
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$32 /mo · $390/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $211

Break-even live

Break-even rent $1,008

Max offer price $134,900

Occupancy floor 78%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $134,900 Active 29 DOM
2. 2026-06-17
   days on market $134,900 Active 28 DOM
3. 2026-06-16
   days on market $134,900 Active 27 DOM
4. 2026-06-15
   days on market $134,900 Active 26 DOM
5. 2026-06-13
   days on market $134,900 Active 24 DOM
6. 2026-06-12
   pricedays on market $134,900 Active 23 DOM
7. 2026-06-09
   days on market $149,900 Active 20 DOM
8. 2026-06-08
   days on market $149,900 Active 19 DOM
9. 2026-06-07
   days on market $149,900 Active 18 DOM
10. 2026-06-05
    days on market $149,900 Active 16 DOM
11. 2026-06-04
    days on market $149,900 Active 14 DOM
12. 2026-06-02
    days on market $149,900 Active 13 DOM
13. 2026-06-01
    days on market $149,900 Active 12 DOM
14. 2026-05-31
    days on market $149,900 Active 11 DOM
15. 2026-05-20
    listed $149,900 Active

ⓘ 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: $390 · $32/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$676/yr (+$56/mo · 173.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $15,301
• − Mortgage interest: −$7,556
• − Property taxes: −$390
• − Insurance: −$674
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$3,924
• Taxable income: $308
• Est. tax owed @ 24.0%: −$74
• After-tax cash flow: $2,461/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: Okolona Separate School District
• NCES district ID: 2803390
• Math proficiency: 24% ▼ -13.00%
• Reading proficiency: 17% ▼ -7.00%
• Median HH income: $29,703
• Composite: 16.42/100
• National rank: #9191
• State rank: #93 of 130 in MS

Livability — Okolona

• Score: 61/100
• State rank: #191
• US rank: #17576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okolona, MS
• Population (ZIP): 6,313

Population outlook (Chickasaw County) Hauer SSP2

• Today (2025): 17,070 people
• By 2030: 16,849 · -1.3%
• By 2040: 16,419 · -3.8%
• By 2050: 15,899 · -6.9%
• By 2075: 14,445 · -15.4%
• By 2100: 12,062 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (55%)
• Race & ethnicity: Black 55% White 45%
• Common ancestry: Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Chickasaw

• 2024 margin: R (+13.7) · D 42.7% · R 56.4%
• 2008→2024 swing: -15.8pp toward R · 2008: 2.1pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+4.5 2016: R+6.1 2012: D+4.1 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.36%
• Current HPI: 128.2516
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-20 Listed $149,900 NEMSBD

Property tax history

+32.8%/yr

Latest (2022): $390 · -2.2% YoY. Source: county tax records.