269 Old Palestine Church Rd

Soso, MS 39268

$79,500B

4 bd · 2.0 ba · 2,560 sqft · Built 2019 · Manufactured · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,349/mo
• Mortgage (P&I): −$417
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $498/mo
• Annual: $5,976/yr
• Cap rate: 13.81%
• Cash-on-cash: 26.85%
• DSCR: 2.19
• 1% rule: 1.70%
• Cash to close: $22,260

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($550 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 63/100 on livability (#163 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, health & safety D, amenities F.
• Jones County School District (rural): math 40% / reading 39% proficiency, ranked #40 of 130 in MS (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Jones Elementary School (math 32% / reading 45%, grade F, #130 of 375 statewide, top 35%, 1,022 students, 100% FRL); West Jones High School (math 42% / reading 35%, grade F, #56 of 197 statewide, top 29%, 1,516 students, 100% FRL) — zoned schools average 100% FRL vs 59% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 23 units permitted in Jones County in 2024 (5 in 5+ unit buildings).
• Jones County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 90% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/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 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?
• 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.