2185 Mississippi 25

Iuka, MS 38852

$55,000B-

3 bd · 2.0 ba · 1,280 sqft · Built 2000 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,036/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$38
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $492/mo
• Annual: $5,904/yr
• Cap rate: 17.03%
• Cash-on-cash: 38.34%
• DSCR: 2.71
• 1% rule: 1.88%
• Cash to close: $15,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#150 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: amenities F, commute F, employment D-.
• Tishomingo County Sp Mun School District (rural): math 37% / reading 39% proficiency, ranked #49 of 130 in MS (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tishomingo Elementary (math 22% / reading 32%, grade F, #203 of 375 statewide, top 56%, 247 students, 99% FRL); Iuka Middle School (math 46% / reading 36%, grade F, #56 of 179 statewide, top 33%, 334 students, 99% FRL); Tishomingo County High School (math 27% / reading 42%, grade F, #68 of 197 statewide, top 39%, 603 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (46 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 200 active listings in the ZIP; 1 units permitted in Tishomingo County in 2024 (0 in 5+ unit buildings).
• Tishomingo County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 25% 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.