10137 Hwy 22 · Corinth, MS 38357

$114,500

2 bd · 2.0 ba · 1,624 sqft · Manufactured public records · 70 Days on market

Built 1940 0.40 ac lot ↓ 8% since listing

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Why this score? — see what drove the C 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 +20.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

Key facts

• Dishwasher
• Gas fireplace
• Bay window

Tags

• SPACIOUS DEN
• GAS FIREPLACE
• BAY WINDOW
• WALK-IN SHOWER
• GAS RANGE
• DISHWASHER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $114k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (7.2% below list).
• Recommended offer: $106k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.7% in Corinth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#187 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D-, amenities F.
• Mcnairy County (rural): math 20% / reading 28% proficiency, ranked #100 of 139 in TN (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 52 units permitted in McNairy County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($792 loan paydown + $11k appreciation (10.0% local appreciation)).
• McNairy County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,213 (7.2% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 3.25×
• Total profit: $72,093
• Equity at exit: $103,151

10-year hold

• IRR: 24.7%
• Equity multiple: 7.38×
• Total profit: $204,512
• Equity at exit: $222,448

Cash invested: $32,060 (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 38357

• Home prices YoY: 28.3%
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,062 medium
• Mortgage (P&I): −$600
• Tax from tax record: −$37 /mo · $448/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $154

Break-even live

Break-even rent $868

Max offer price $114,500

Occupancy floor 81%

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-24
   status Pending

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

2. 2026-04-24
   status Pending 436-char remark

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

3. 2026-04-07
   status Active

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

4. 2026-04-07
   status Active 436-char remark

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

5. 2026-03-10
   status Pending

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

6. 2026-03-10
   status Pending 436-char remark

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

7. 2026-02-17
   price $114,500 436-char remark

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

8. 2026-02-16
   price $114,500
9. 2026-01-16
   listed $124,900 Active

   Show marketing remark (436 chars)

   Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

10. 2026-01-16
    listed $124,900 Active 436-char remark

    Show marketing remark (436 chars)

    Brick country home with 2 bedrooms, 2 baths located minutes from the Tennessee River, Shiloh National Military Park, and Corinth, MS. This inviting property features a spacious, coxy den with a gas fireplace and a beautiful bay window, perfect for relaxing or entertaining. Large bathroom with walk-in shower. Included area a gas range, dishwasher and gas wall heater. Nicely shaded yard with a brick walkway leading to the front porch.

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

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $448 · $37/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$457/yr (+$38/mo · 101.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $12,746
• − Mortgage interest: −$6,414
• − Property taxes: −$448
• − Insurance: −$572
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$3,331
• Taxable loss: −$59
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $1,857/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.

Schools (NCES district)

• District: Mcnairy County
• NCES district ID: 4702880
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $33,678
• Composite: 19.64/100
• National rank: #8742
• State rank: #100 of 139 in TN

Livability — Corinth

• Score: 61/100
• State rank: #187
• US rank: #17369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 27,146
• Population (ZIP): 3,382

Population outlook (McNairy County) Hauer SSP2

• Today (2025): 25,542 people
• By 2030: 25,040 · -2.0%
• By 2040: 23,906 · -6.4%
• By 2050: 22,623 · -11.4%
• By 2075: 19,372 · -24.2%
• By 2100: 15,795 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Black 1%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · McNairy

• 2024 margin: Solid R (+68.4) · D 15.3% · R 83.8%
• 2008→2024 swing: -61.4pp toward R · 2008: -7.0pp · 2024: -68.4pp
• All cycles: 2024: R+68.4 2020: R+63.4 2016: R+59.7 2012: R+44.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 67.47%
• Current HPI: 306.2036
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-8.3% since first listed

10 events — show timeline

• 2026-04-24 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-24 Pending — Memphis Area Association of Realtors(R) MLS
• 2026-04-07 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-04-07 Relisted — Memphis Area Association of Realtors(R) MLS
• 2026-03-10 Pending — REALTRACS as Distributed by MLS Grid
• 2026-03-10 Pending — Memphis Area Association of Realtors(R) MLS
• 2026-02-17 Price Changed $114,500 Memphis Area Association of Realtors(R) MLS
• 2026-02-16 Price Changed $114,500 REALTRACS as Distributed by MLS Grid
• 2026-01-16 Listed $124,900 REALTRACS as Distributed by MLS Grid
• 2026-01-16 Listed $124,900 Memphis Area Association of Realtors(R) MLS

Property tax history

+0.0%/yr

Latest (2025): $448 · +0.0% YoY. Source: county tax records.