1627 Clear Creek Rd

Lamar, MS 38642

$91,900B-

3 bd · 2.0 ba · 1,344 sqft · Built 1940 · Manufactured · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,144/mo
• Mortgage (P&I): −$482
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$240
• Net cashflow: $268/mo
• Annual: $3,220/yr
• Cap rate: 9.80%
• Cash-on-cash: 12.51%
• DSCR: 1.56
• 1% rule: 1.24%
• Cash to close: $25,732

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $92k. Condition is rated fair.
• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• It's been on market 62 days — a 6% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($635 loan paydown + $4k appreciation (4.2% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Marshall County School District (rural): math 18% / reading 25% proficiency, ranked #87 of 130 in MS (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 active listings in the ZIP; 310 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Marshall County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $88k (49%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant damage
• Major: bathroom fixtures — Outdated and cluttered
• Moderate: flooring — Worn and in need of replacement
• Major: interior paint — Worn and outdated
• Major: landscaping — Overgrown and cluttered