13201 School Land Rd · Latimer, MS 39565

$165,000

4 bd · 3.0 ba · 2,432 sqft · Manufactured public records · 62 Days on market

Built 2003 2.17 ac lot $68/sqft · 21% below area Est $210k · 21% under

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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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom, 3-bathroom home situated on 2 acres in Vancleave, MS. Plenty of room to spread out, with endless potential to make it your own. Being sold as-is- great opportunity for investors or buyers looking for space and value!

Key facts

• 2.17 acre lot
• Built 2003
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.5% in Latimer — 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 65/100 on livability (#120 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Jackson County School District (rural): math 53% / reading 48% proficiency, ranked #10 of 130 in MS (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 194 active listings in the ZIP; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. 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?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $209,711
• List price: $165,000
• Delta: -21.32%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-7,180
• Equity at exit: $24,602

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $19,006
• Equity at exit: $14,266

Cash invested: $46,200 (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 39565

• Home prices YoY: -28.8%
• Active inventory: 194
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,832 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $307

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 78%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-14
   price $165,000 236-char remark

   Show marketing remark (236 chars)

   Spacious 4-bedroom, 3-bathroom home situated on 2 acres in Vancleave, MS. Plenty of room to spread out, with endless potential to make it your own. Being sold as-is- great opportunity for investors or buyers looking for space and value!

2. 2026-03-23
   listed $170,000 Active 236-char remark

   Show marketing remark (236 chars)

   Spacious 4-bedroom, 3-bathroom home situated on 2 acres in Vancleave, MS. Plenty of room to spread out, with endless potential to make it your own. Being sold as-is- great opportunity for investors or buyers looking for space and value!

3. 2024-11-10
   status Active
4. 2024-11-10
   historical
5. 2024-11-06
   historical
6. 2024-11-06
   status Pending
7. 2024-10-11
   listed $156,000 Active
8. 2023-10-09
   historical
9. 2023-08-22
   status Active
10. 2023-08-18
    status Pending
11. 2023-08-01
    status Active
12. 2023-07-30
    status Pending
13. 2023-07-18
    listed $154,900 Active

ⓘ 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 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,978
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$4,800
• Taxable income: $1,119
• Est. tax owed @ 24.0%: −$269
• After-tax cash flow: $3,411/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: Jackson County School District
• NCES district ID: 2802160
• Math proficiency: 53% ▼ -5.00%
• Reading proficiency: 48% ▼ -5.00%
• Median HH income: $53,569
• Composite: 43.57/100
• National rank: #2980
• State rank: #10 of 130 in MS

Livability — Latimer

• Score: 65/100
• State rank: #120
• US rank: #13490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,692

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 146,926 people
• By 2030: 148,442 · +1.0%
• By 2040: 149,631 · +1.8%
• By 2050: 148,723 · +1.2%
• By 2075: 147,845 · +0.6%
• By 2100: 144,510 · -1.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 6% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 4% Slovak 1% Subsaharan African 1%
• Foreign-born: 2% · Vietnam
• Languages at home: 95% English-only · Spanish 2% Vietnamese 1% Tagalog/Filipino 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+39.9) · D 29.5% · R 69.4% · Other 1.1%
• 2008→2024 swing: -6.4pp toward R · 2008: -33.5pp · 2024: -39.9pp
• All cycles: 2024: R+39.9 2020: R+34.6 2016: R+39.9 2012: R+36.1 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.68%
• Current HPI: 187.1025
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+6.5% since first listed

13 events — show timeline

• 2026-04-14 Price Changed $165,000 MLSU
• 2026-03-23 Listed $170,000 MLSU
• 2024-11-10 Relisted — MLSU
• 2024-11-10 Listing Removed — MLSU
• 2024-11-06 Listing Removed — MLSU
• 2024-11-06 Pending — MLSU
• 2024-10-11 Listed $156,000 MLSU
• 2023-10-09 Listing Removed — MLSU
• 2023-08-22 Relisted — MLSU
• 2023-08-18 Pending — MLSU
• 2023-08-01 Relisted — MLSU
• 2023-07-30 Pending — MLSU
• 2023-07-18 Listed $154,900 MLSU

Property tax history

-2.8%/yr

Latest (2023): $305 · +3.6% YoY. Source: county tax records.