17 Coventry Rd #2 · Morgantown, MS 39120

$39,500

3 bd · 1.5 ba · 1,400 sqft · Manufactured · 123 Days on market

Built 1983 Poor condition 1.16 ac lot Est $63k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.0/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 2 bath double wide being sold in ''as is '' condition. Additional mobile home to be sold in ''AS IS' condition.

Key facts

• 1.16 acre lot
• Built 1983
• Listed 123 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $40k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#106 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety C-, schools F, amenities F.
• Natchez-Adams School District (town): math 8% / reading 19% proficiency, ranked #114 of 130 in MS (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 283 active listings in the ZIP; 6 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $273 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Adams County population projected at -21% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 90% 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 $34,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.60% ✓
• Cap rate: 32.11%
• Cash-on-cash: 92.21%
• DSCR: 5.10
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $63,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 Foster Mound Rd	0.12mi	3/2.0	1,444 (+3%)	17mo	$65,000	$45	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 93.0%
• Equity multiple: 5.32×
• Total profit: $47,750
• Equity at exit: $5,890

10-year hold

• IRR: 95.8%
• Equity multiple: 11.07×
• Total profit: $111,366
• Equity at exit: $3,415

Cash invested: $11,060 (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 39120

• Active inventory: 283
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,421 medium
• Mortgage (P&I): −$207
• Tax est. 1.5%: −$49 /mo · $592/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $850

Break-even live

Break-even rent $346

Max offer price $39,500

Occupancy floor 35%

Sensitivity live

Price	-10% $877	-5% $864	+0% $850	+5% $836	+10% $823
Rent	-10% $738	-5% $794	+0% $850	+5% $906	+10% $962
Rate	-1.0pp $870	-0.5pp $860	base $850	+0.5pp $840	+1.0pp $829

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: $9,875
• Closing costs: $1,185
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $39,500 Active 123 DOM
2. 2026-06-18
   days on market $39,500 Active 121 DOM
3. 2026-06-17
   days on market $39,500 Active 120 DOM
4. 2026-06-16
   days on market $39,500 Active 119 DOM
5. 2026-06-15
   days on market $39,500 Active 118 DOM
6. 2026-06-13
   days on market $39,500 Active 116 DOM
7. 2026-06-12
   days on market $39,500 Active 115 DOM
8. 2026-06-09
   days on market $39,500 Active 112 DOM
9. 2026-06-08
   days on market $39,500 Active 111 DOM
10. 2026-06-07
    days on market $39,500 Active 110 DOM
11. 2026-06-07
    days on market $39,500 Active 109 DOM
12. 2026-06-04
    days on market $39,500 Active 106 DOM
13. 2026-06-02
    days on market $39,500 Active 105 DOM
14. 2026-06-01
    days on market $39,500 Active 104 DOM
15. 2026-05-31
    days on market $39,500 Active 103 DOM
16. 2026-02-17
    listed $39,500 Active 122-char remark

    Show marketing remark (122 chars)

    3 bedroom 2 bath double wide being sold in ''as is '' condition. Additional mobile home to be sold in ''AS IS' condition.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 90% 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: $17,056
• − Mortgage interest: −$2,213
• − Property taxes: −$592
• − Insurance: −$198
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$1,149
• Taxable income: $10,175
• Est. tax owed @ 24.0%: −$2,442
• After-tax cash flow: $7,756/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and updates to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Roof — Signs of potential leaks and wear.
• Major Exterior siding — Peeling and weathered condition.
• Major Flooring — Worn and uneven condition.
• Major Interior walls/paint — Signs of wear and discoloration.
• Major Windows — Old and possibly non-functional.
• Major Foundation/structure — Appears unstable and may need reinforcement.
• Major HVAC/mechanicals — Old and may need replacement.
• Major Landscaping — Sparse and unkempt, detracting from curb appeal.

Value-add opportunities

• Resale New roof — A new roof would significantly improve the home's appearance and functionality.
• Resale New exterior siding — New siding would enhance the home's curb appeal and durability.
• Resale New flooring — New flooring would improve the home's aesthetic and functionality.
• Resale Paint interior walls — Fresh paint would make the interior look more inviting and well-maintained.
• Resale Replace windows — New windows would improve energy efficiency and the home's overall appearance.
• Resale Stabilize foundation — A stable foundation would ensure the home's structural integrity and longevity.
• Resale Replace HVAC system — A new HVAC system would improve comfort and energy efficiency.
• Resale Landscaping improvements — Well-maintained landscaping would enhance the home's curb appeal and property value.
• Rental Interior updates — Fresh paint and minor updates would make the home more appealing to renters.
• Rental Landscaping improvements — Well-maintained landscaping would enhance the home's curb appeal and attract renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof · Signs of potential leaks and wear.	Major	$15,000–50,000
Exterior siding · Peeling and weathered condition.	Major	$15,000–50,000
Flooring · Worn and uneven condition.	Major	$15,000–50,000
Interior walls/paint · Signs of wear and discoloration.	Major	$15,000–50,000
Windows · Old and possibly non-functional.	Major	$15,000–50,000
Foundation/structure · Appears unstable and may need reinforcement.	Major	$15,000–50,000
HVAC/mechanicals · Old and may need replacement.	Major	$15,000–50,000
Landscaping · Sparse and unkempt, detracting from curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Resale New roof — A new roof would significantly improve the home's appearance and functionality. ↑
• Resale New exterior siding — New siding would enhance the home's curb appeal and durability. ↑
• Resale New flooring — New flooring would improve the home's aesthetic and functionality. ↑
• Resale Paint interior walls — Fresh paint would make the interior look more inviting and well-maintained. ↑
• Resale Replace windows — New windows would improve energy efficiency and the home's overall appearance. ↑
• Resale Stabilize foundation — A stable foundation would ensure the home's structural integrity and longevity. ↑
• Resale Replace HVAC system — A new HVAC system would improve comfort and energy efficiency. ↑
• Resale Landscaping improvements — Well-maintained landscaping would enhance the home's curb appeal and property value. ↑
• Rental Interior updates — Fresh paint and minor updates would make the home more appealing to renters. ↑
• Rental Landscaping improvements — Well-maintained landscaping would enhance the home's curb appeal and attract renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Natchez-Adams School District
• NCES district ID: 2803030
• Math proficiency: 8% ▼ -16.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $28,288
• Composite: 10.41/100
• National rank: #9785
• State rank: #114 of 130 in MS

Livability — Morgantown

• Score: 65/100
• State rank: #106
• US rank: #12538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 29,212

Population outlook (Adams County) Hauer SSP2

• Today (2025): 28,614 people
• By 2030: 27,405 · -4.2%
• By 2040: 24,914 · -12.9%
• By 2050: 22,554 · -21.2%
• By 2075: 17,096 · -40.3%
• By 2100: 12,156 · -57.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 56% White 37% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Adams

• 2024 margin: D (+13.9) · D 56.5% · R 42.6%
• 2008→2024 swing: -1.7pp toward R · 2008: 15.6pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+16.1 2016: D+14.7 2012: D+18.0 2008: D+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.67%
• Current HPI: 112.2371
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-02-17 Listed $39,500 MLSU