11050 Baylor Rd

Meridian, MS 39305

$99,000B-

3 bd · 2.0 ba · 1,280 sqft · Built 1989 · Manufactured · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,383/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $476/mo
• Annual: $5,709/yr
• Cap rate: 12.06%
• Cash-on-cash: 20.60%
• DSCR: 1.92
• 1% rule: 1.40%
• Cash to close: $27,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $99k.
• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 49 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#141 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Lauderdale County School District (rural): math 37% / reading 41% proficiency, ranked #39 of 130 in MS (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Lauderdale Elementary School (math 41% / reading 49%, grade D-, #90 of 375 statewide, top 24%, 687 students, 100% FRL); West Lauderdale Middle School (math 52% / reading 53%, grade C+, #22 of 179 statewide, top 13%, 525 students, 99% FRL); West Lauderdale High School (math 42% / reading 57%, grade D, #22 of 197 statewide, top 12%, 589 students, 100% FRL) — zoned schools average 100% FRL vs 48% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 84 active listings in the ZIP; 18 units permitted in Lauderdale County in 2024 (0 in 5+ unit buildings).
• Lauderdale County population projected at -18% 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 76% 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.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.