1194 CR 87 · New Albany, MS 38652

$575,000

None bd · None ba · 1,162 sqft · MultiFamily · 190 Days on market

Poor condition 13 ac lot ↓ 21% 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

Key facts

• 5 septic tanks
• Vacant lots
• Mobile homes on site

Tags

• INCOME PRODUCING OPPORTUNITY
• MOBILE HOMES ON SITE
• 5 SEPTIC TANKS
• OFFICIAL APPROVAL TO OPERATE
• VACANT LOTS
• TOTAL OF 12 MOBILE HOMES

What this means for you Summary

Snapshot

• This is a multifamily listed at $575k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $575k).
• Recommended offer: $506k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#13 in MS, #4,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A-; Watch: schools C-, employment D+, amenities F.
• Union County School District (rural): math 54% / reading 48% proficiency, ranked #13 of 130 in MS (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 157 active listings in the ZIP; 17 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Union County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($506k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $150k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $506,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.25%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-5,523
• Equity at exit: $85,734

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $108,339
• Equity at exit: $49,715

Cash invested: $161,000 (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 38652

• Home prices YoY: -34.5%
• Active inventory: 157
• Price-to-rent: 49.5×

Monthly cashflow live

• Estimated rent: $6,770 medium
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,422
• Net cashflow: $1,375

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 75%

Sensitivity live

Price	-10% $1,772	-5% $1,573	+0% $1,375	+5% $1,176	+10% $977
Rent	-10% $840	-5% $1,107	+0% $1,375	+5% $1,642	+10% $1,909
Rate	-1.0pp $1,664	-0.5pp $1,521	base $1,375	+0.5pp $1,226	+1.0pp $1,074

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 7× units	3	2	$6,769
Total (7 units)			$6,770

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $575,000 Active 190 DOM
2. 2026-06-18
   days on market $575,000 Active 189 DOM
3. 2026-06-17
   days on market $575,000 Active 188 DOM
4. 2026-06-16
   days on market $575,000 Active 187 DOM
5. 2026-06-15
   days on market $575,000 Active 186 DOM
6. 2026-06-14
   days on market $575,000 Active 184 DOM
7. 2026-06-12
   days on market $575,000 Active 183 DOM
8. 2026-06-09
   days on market $575,000 Active 180 DOM
9. 2026-06-08
   days on market $575,000 Active 179 DOM
10. 2026-06-07
    days on market $575,000 Active 178 DOM
11. 2026-06-03
    days on market $575,000 Active 174 DOM
12. 2026-06-02
    days on market $575,000 Active 173 DOM
13. 2026-06-01
    days on market $575,000 Active 172 DOM
14. 2026-05-31
    days on market $575,000 Active 171 DOM
15. 2026-05-30
    days on market $575,000 Active 170 DOM
16. 2026-02-02
    price $575,000 798-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

17. 2026-02-02
    price $575,000 797-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

18. 2026-02-02
    price $599,000 798-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

19. 2026-02-02
    price $599,000 797-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

20. 2026-01-16
    price $650,000 798-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

21. 2026-01-16
    price $650,000 797-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

22. 2025-12-18
    price $699,900 798-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

23. 2025-12-18
    price $699,900 797-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

24. 2025-12-11
    listed $725,000 Active 798-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

25. 2025-12-11
    listed $725,000 Active 797-char remark

    Show marketing remark (797 chars)

    13.23 ACRE TRAILER PARK: Incredible income-producing opportunity with 7 mobile homes on site, 6 rented, with 1 unit in need of repairs, offering immediate upside potential. All units are 3 beds/2 bath homes and 6 have all been remodeled. Property includes 5 septic tanks and official approval to operate as a trailer park, significantly enhancing long-term value and expansion possibilities. In addition to the current units, the property features multiple vacant lots with the space and permits to install up to a total of 11 mobile homes, creating a rare chance to scale this investment with ease. Partly situated on a private road with cul-de-sac, this property provides privacy for tenants, reduced traffic, and an attractive layout for future development. Whether expanding your portfolio or

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $81,240
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$6,499
• − Management: −$6,499
• − Depreciation: −$16,727
• Taxable income: $7,805
• Est. tax owed @ 24.0%: −$1,873
• After-tax cash flow: $14,622/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This 13.23-acre trailer park requires extensive repairs and updates to improve its condition and value. Immediate attention to the exterior siding and HVAC system is critical.

Repairs flagged

• Major exterior siding — Blue metal siding appears worn and needs replacement
• Major interior walls — No visible damage
• Major bathrooms — No visible damage
• Major kitchen — No visible damage
• Major HVAC/mechanicals — No visible damage
• Major landscaping — No visible damage

Value-add opportunities

• Both Paint and repair exterior siding — Improves both appearance and value
• Both Replace HVAC system — Enhances comfort and energy efficiency
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Blue metal siding appears worn and needs replacement	Major	$15,000–50,000
interior walls · No visible damage	Major	$15,000–50,000
bathrooms · No visible damage	Major	$15,000–50,000
kitchen · No visible damage	Major	$15,000–50,000
HVAC/mechanicals · No visible damage	Major	$15,000–50,000
landscaping · No visible damage	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Paint and repair exterior siding — Improves both appearance and value ↑
• Both Replace HVAC system — Enhances comfort and energy efficiency ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Union County School District
• NCES district ID: 2804350
• Math proficiency: 54% ▼ -15.00%
• Reading proficiency: 48% ▼ -11.00%
• Median HH income: $37,935
• Composite: 42.49/100
• National rank: #3209
• State rank: #13 of 130 in MS

Livability — New Albany

• Score: 74/100
• State rank: #13
• US rank: #4449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,540
• Population (ZIP): 15,540

Population outlook (Union County) Hauer SSP2

• Today (2025): 30,992 people
• By 2030: 32,294 · +4.2%
• By 2040: 34,789 · +12.3%
• By 2050: 36,987 · +19.3%
• By 2075: 40,835 · +31.8%
• By 2100: 40,538 · +30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Union

• 2024 margin: Solid R (+70.1) · D 14.5% · R 84.6%
• 2008→2024 swing: -20.2pp toward R · 2008: -49.9pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+64.8 2016: R+63.2 2012: R+51.0 2008: R+49.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.75%
• Current HPI: 153.1381
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.7% since first listed

10 events — show timeline

• 2026-02-02 Price Changed $575,000 NEMSBD
• 2026-02-02 Price Changed $575,000 NEMSBD
• 2026-02-02 Price Changed $599,000 NEMSBD
• 2026-02-02 Price Changed $599,000 NEMSBD
• 2026-01-16 Price Changed $650,000 NEMSBD
• 2026-01-16 Price Changed $650,000 NEMSBD
• 2025-12-18 Price Changed $699,900 NEMSBD
• 2025-12-18 Price Changed $699,900 NEMSBD
• 2025-12-11 Listed $725,000 NEMSBD
• 2025-12-11 Listed $725,000 NEMSBD