292 Bracey Rd · Kokomo, MS 39643

$179,500

4 bd · 2.0 ba · 2,432 sqft · Manufactured · 197 Days on market

Built 2023 0.77 ac lot ↓ 10% since listing

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Why this score? — see what drove the D- 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 +8.2/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +2.7/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks MLS

Beautiful 2023 Manufactured Home on a Peaceful Country Lot! This spacious 4BR/2BA home features an open floor plan with a large living area, modern kitchen, and split-bedroom layout for added privacy. Enjoy quiet country living with plenty of room to grow, relax, and entertain. Move-in ready and perfect for anyone seeking space, comfort, and a rural setting!

Key facts

• 0.77 acre lot
• Built 2023
• Listed 196 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (24.3% below list).
• Recommended offer: $136k (24.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Marion County School District (rural): math 37% / reading 29% proficiency, ranked #62 of 130 in MS (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 11 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $9k appreciation (5.2% local appreciation)).
• Marion County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,907 (24.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 5.18%
• Cash-on-cash: -3.98%
• DSCR: 0.82
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.66×
• Total profit: $32,926
• Equity at exit: $104,016

10-year hold

• IRR: 11.5%
• Equity multiple: 3.15×
• Total profit: $107,810
• Equity at exit: $181,445

Cash invested: $50,260 (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 39643

• Home prices YoY: 5.5%
• Active inventory: 11
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,359 medium
• Mortgage (P&I): −$941
• Tax est. 1.5%: −$224 /mo · $2,692/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $-167

Break-even live

Break-even rent $1,570

Max offer price $155,361

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-105	+0% $-167	+5% $-229	+10% $-291
Rent	-10% $-274	-5% $-221	+0% $-167	+5% $-113	+10% $-59
Rate	-1.0pp $-76	-0.5pp $-121	base $-167	+0.5pp $-213	+1.0pp $-261

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: $44,875
• Closing costs: $5,385
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   days on market $179,500 Active 197 DOM
2. 2026-06-16
   days on market $179,500 Active 196 DOM
3. 2026-06-15
   days on market $179,500 Active 195 DOM
4. 2026-06-13
   days on market $179,500 Active 193 DOM
5. 2026-06-12
   days on market $179,500 Active 192 DOM
6. 2026-06-09
   days on market $179,500 Active 189 DOM
7. 2026-06-08
   days on market $179,500 Active 188 DOM
8. 2026-06-07
   days on market $179,500 Active 187 DOM
9. 2026-06-07
   days on market $179,500 Active 186 DOM
10. 2026-06-04
    days on market $179,500 Active 183 DOM
11. 2026-06-02
    days on market $179,500 Active 182 DOM
12. 2026-06-01
    days on market $179,500 Active 181 DOM
13. 2026-05-31
    days on market $179,500 Active 180 DOM
14. 2026-05-08
    price $179,500 360-char remark

    Show marketing remark (360 chars)

    Beautiful 2023 Manufactured Home on a Peaceful Country Lot! This spacious 4BR/2BA home features an open floor plan with a large living area, modern kitchen, and split-bedroom layout for added privacy. Enjoy quiet country living with plenty of room to grow, relax, and entertain. Move-in ready and perfect for anyone seeking space, comfort, and a rural setting!

15. 2026-01-12
    price $185,000 360-char remark

    Show marketing remark (360 chars)

    Beautiful 2023 Manufactured Home on a Peaceful Country Lot! This spacious 4BR/2BA home features an open floor plan with a large living area, modern kitchen, and split-bedroom layout for added privacy. Enjoy quiet country living with plenty of room to grow, relax, and entertain. Move-in ready and perfect for anyone seeking space, comfort, and a rural setting!

16. 2025-12-02
    listed $199,500 Active 360-char remark

    Show marketing remark (360 chars)

    Beautiful 2023 Manufactured Home on a Peaceful Country Lot! This spacious 4BR/2BA home features an open floor plan with a large living area, modern kitchen, and split-bedroom layout for added privacy. Enjoy quiet country living with plenty of room to grow, relax, and entertain. Move-in ready and perfect for anyone seeking space, comfort, and a rural setting!

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $16,309
• − Mortgage interest: −$10,055
• − Property taxes: −$2,692
• − Insurance: −$898
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$5,222
• Taxable loss: −$5,167
• Est. tax savings @ 24.0%: +$1,240
• After-tax cash flow: $-762/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: Marion County School District
• NCES district ID: 2802820
• Math proficiency: 37% ▼ -9.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $30,866
• Composite: 26.9/100
• National rank: #7089
• State rank: #62 of 130 in MS

Livability — Kokomo

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,283

Population outlook (Marion County) Hauer SSP2

• Today (2025): 22,813 people
• By 2030: 21,301 · -6.6%
• By 2040: 18,176 · -20.3%
• By 2050: 15,215 · -33.3%
• By 2075: 9,388 · -58.8%
• By 2100: 5,335 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 35%
• Common ancestry: Italian 1% Lithuanian 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+41.6) · D 28.7% · R 70.4%
• 2008→2024 swing: -10.2pp toward R · 2008: -31.4pp · 2024: -41.6pp
• All cycles: 2024: R+41.6 2020: R+36.8 2016: R+36.0 2012: R+29.8 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.21%
• Current HPI: 99.2344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-10.0% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $179,500 MLSU
• 2026-01-12 Price Changed $185,000 MLSU
• 2025-12-02 Listed $199,500 MLSU