481 Pumping Sta

Purvis, MS 39475

$107,500B-

3 bd · 2.0 ba · 980 sqft · Built 2022 · Manufactured · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,334/mo
• Mortgage (P&I): −$564
• Tax + insurance: −$179
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $311/mo
• Annual: $3,735/yr
• Cap rate: 9.77%
• Cash-on-cash: 12.41%
• DSCR: 1.55
• 1% rule: 1.24%
• Cash to close: $30,100

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $108k. Condition is rated good.
• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $743 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#14 in MS, #4,557 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Forrest County School District (rural): math 39% / reading 36% proficiency, ranked #47 of 130 in MS (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 107 active listings in the ZIP; 121 units permitted in Forrest County in 2024 (30 in 5+ unit buildings).
• Forrest County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• 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.