540 RD 2350

Kirkville, MS 38824

$50,000B

2 bd · 1.0 ba · 672 sqft · Built 1994 · Manufactured · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $813/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $297/mo
• Annual: $3,562/yr
• Cap rate: 13.42%
• Cash-on-cash: 25.44%
• DSCR: 2.13
• 1% rule: 1.63%
• Cash to close: $14,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($813 rent vs $50k).
• It's been on market 20 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (3.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Lee County School District (rural): math 37% / reading 35% proficiency, ranked #51 of 130 in MS (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Saltillo Primary School (700 students, 100% FRL); Guntown Middle School (math 42% / reading 35%, grade F, #69 of 179 statewide, top 40%, 696 students, 100% FRL); Saltillo High School (math 39% / reading 47%, grade F, #41 of 197 statewide, top 20%, 955 students, 100% FRL) — zoned schools average 100% FRL vs 54% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 59 active listings in the ZIP; 154 units permitted in Lee County in 2024 (24 in 5+ unit buildings).
• Lee County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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: mobile home structure — visible damage to the mobile home
• Major: exterior siding — poor condition
• Major: windows — poor condition