2339 Pleasant Ridge Rd

Chunky, MS 39323

$85,000B+

3 bd · 2.0 ba · 1,416 sqft · Built 1999 · Manufactured · Active · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,252/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $402/mo
• Annual: $4,820/yr
• Cap rate: 11.96%
• Cash-on-cash: 20.25%
• DSCR: 1.90
• 1% rule: 1.47%
• Cash to close: $23,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 129 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($588 loan paydown + $2k appreciation (2.4% local appreciation)).
• Location reads 62/100 on livability (#177 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Newton County School District (rural): math 46% / reading 47% proficiency, ranked #25 of 130 in MS (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Newton County Elementary School (math 63% / reading 59%, grade B, #25 of 375 statewide, top 7%, 877 students, 100% FRL); Newton County High School (math 34% / reading 38%, grade F, #65 of 197 statewide, top 33%, 811 students, 100% FRL) — zoned schools average 100% FRL vs 47% district-wide (53 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 3 units permitted in Newton County in 2024 (0 in 5+ unit buildings).
• Newton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; 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 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.