15B County Road 109

Tishomingo, MS 38873

$49,500B

3 bd · 1.5 ba · 1,339 sqft · Built 1978 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,071/mo
• Mortgage (P&I): −$260
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $504/mo
• Annual: $6,050/yr
• Cap rate: 18.51%
• Cash-on-cash: 43.65%
• DSCR: 2.94
• 1% rule: 2.16%
• Cash to close: $13,860

Investor read

• This is a 3-bed/1.5-bath single-family listed at $50k.
• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($342 loan paydown + $1k appreciation (2.4% local appreciation)).
• Location reads 63/100 on livability (#151 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, amenities F, commute F.
• Tishomingo County Sp Mun School District (rural): math 37% / reading 39% proficiency, ranked #49 of 130 in MS (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tishomingo Elementary (math 22% / reading 32%, grade F, #203 of 375 statewide, top 56%, 247 students, 99% FRL); Iuka Middle School (math 46% / reading 36%, grade F, #56 of 179 statewide, top 33%, 334 students, 99% FRL); Tishomingo County High School (math 27% / reading 42%, grade F, #68 of 197 statewide, top 39%, 603 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 12 active listings in the ZIP; 1 units permitted in Tishomingo County in 2024 (0 in 5+ unit buildings).
• Tishomingo County population projected to shrink 6% 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: moderate 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

• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.