67 Azzie Pitts Rd

Soso, MS 39443

$127,900D

3 bd · 2.0 ba · 2,128 sqft · Built 1997 · Manufactured · Pending · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$671
• Tax + insurance: −$213
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $35/mo
• Annual: $415/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $35,812

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $128k.
• At list price, monthly cash flow is $35 ($415/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (9.1% below list).
• It's been on market 105 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (9.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $884 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#163 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, health & safety D, amenities F.
• Jones County School District (rural): math 40% / reading 39% proficiency, ranked #40 of 130 in MS (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Jones Elementary School (math 32% / reading 45%, grade F, #130 of 375 statewide, top 35%, 1,022 students, 100% FRL); West Jones High School (math 42% / reading 35%, grade F, #56 of 197 statewide, top 29%, 1,516 students, 100% FRL) — zoned schools average 100% FRL vs 59% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 107 active listings in the ZIP; 23 units permitted in Jones County in 2024 (5 in 5+ unit buildings).
• Jones County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts; this cycle's ask has dropped $22k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $128k implies a 161% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 90% chance of damaging wind over 30y; moderate 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

• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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?
• 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.