487 Grennie Morrow Rd · Newton, MS 39336

$64,500

3 bd · 2.0 ba · 1,312 sqft · Manufactured · 77 Days on market

Built 2021 Good condition ↓ 2% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.8/10.0
• Condition / age +3.8/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

This manufactured home is available for relocation. The interior of the home has been kept immaculate. The slide-in range and refrigerator are included with the unit. The bedrooms are very spacious, and the bathrooms are nice and roomy. The master suite features a walk-in closet, double vanity, and a large walk-in shower. Call your local Realtor for a viewing. You must be pre-approved before viewing.

Key facts

• Double vanity
• Walk-in closet
• Refrigerator

Tags

• REFRIGERATOR
• WALK-IN CLOSET
• DOUBLE VANITY
• WALK-IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $64k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#292 in MS) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing B; Watch: schools F, amenities F, commute F.
• Newton Municipal School District (town): math 19% / reading 23% proficiency, ranked #91 of 130 in MS (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 5 active listings in the ZIP; 3 units permitted in Newton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($446 loan paydown + $1k appreciation (1.7% local appreciation)).
• Newton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $4k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,630 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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: 1.62% ✓
• Cap rate: 13.40%
• Cash-on-cash: 25.38%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 2.53×
• Total profit: $27,721
• Equity at exit: $24,330

10-year hold

• IRR: 30.8%
• Equity multiple: 4.90×
• Total profit: $70,393
• Equity at exit: $34,202

Cash invested: $18,060 (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 39336

• Home prices YoY: 2.0%
• Active inventory: 5
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,048 medium
• Mortgage (P&I): −$338
• Tax est. 1.5%: −$81 /mo · $968/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $382

Break-even live

Break-even rent $564

Max offer price $64,500

Occupancy floor 59%

Sensitivity live

Price	-10% $427	-5% $404	+0% $382	+5% $360	+10% $337
Rent	-10% $299	-5% $341	+0% $382	+5% $423	+10% $465
Rate	-1.0pp $414	-0.5pp $398	base $382	+0.5pp $365	+1.0pp $348

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $64,500 Active 77 DOM
2. 2026-06-18
   days on market $64,500 Active 75 DOM
3. 2026-06-17
   days on market $64,500 Active 74 DOM
4. 2026-06-16
   days on market $64,500 Active 73 DOM
5. 2026-06-15
   days on market $64,500 Active 72 DOM
6. 2026-06-13
   days on market $64,500 Active 70 DOM
7. 2026-06-12
   days on market $64,500 Active 69 DOM
8. 2026-06-09
   days on market $64,500 Active 66 DOM
9. 2026-06-08
   days on market $64,500 Active 65 DOM
10. 2026-06-07
    days on market $64,500 Active 64 DOM
11. 2026-06-05
    days on market $64,500 Active 62 DOM
12. 2026-06-04
    days on market $64,500 Active 60 DOM
13. 2026-06-02
    days on market $64,500 Active 59 DOM
14. 2026-06-01
    days on market $64,500 Active 58 DOM
15. 2026-05-31
    days on market $64,500 Active 57 DOM
16. 2026-05-07
    price $64,500 403-char remark

    Show marketing remark (403 chars)

    This manufactured home is available for relocation. The interior of the home has been kept immaculate. The slide-in range and refrigerator are included with the unit. The bedrooms are very spacious, and the bathrooms are nice and roomy. The master suite features a walk-in closet, double vanity, and a large walk-in shower. Call your local Realtor for a viewing. You must be pre-approved before viewing.

17. 2026-04-03
    listed $68,500 Active 403-char remark

    Show marketing remark (403 chars)

    This manufactured home is available for relocation. The interior of the home has been kept immaculate. The slide-in range and refrigerator are included with the unit. The bedrooms are very spacious, and the bathrooms are nice and roomy. The master suite features a walk-in closet, double vanity, and a large walk-in shower. Call your local Realtor for a viewing. You must be pre-approved before viewing.

18. 2026-01-21
    historical
19. 2025-11-18
    listed $65,500 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,573
• − Mortgage interest: −$3,613
• − Property taxes: −$968
• − Insurance: −$322
• − Repairs & maintenance: −$1,006
• − Management: −$1,006
• − Depreciation: −$1,876
• Taxable income: $3,782
• Est. tax owed @ 24.0%: −$908
• After-tax cash flow: $3,676/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.

Condition & rehab AI · 8 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with modern updates and a good curb appeal. It is ready for a new owner to move in and make minor improvements to enhance its value further.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Both New flooring in bathrooms — Improves aesthetics and functionality.
• Both New countertops in kitchen — Enhances functionality and aesthetics.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Both New flooring in bathrooms — Improves aesthetics and functionality. ↑
• Both New countertops in kitchen — Enhances functionality and aesthetics. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Newton Municipal School District
• NCES district ID: 2803180
• Math proficiency: 19% ▼ -24.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $34,333
• Composite: 17.23/100
• National rank: #9097
• State rank: #91 of 130 in MS

Livability — Newton

• Score: 57/100
• State rank: #292
• US rank: #22078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,306

Population outlook (Newton County) Hauer SSP2

• Today (2025): 21,329 people
• By 2030: 20,990 · -1.6%
• By 2040: 20,188 · -5.3%
• By 2050: 19,212 · -9.9%
• By 2075: 16,424 · -23.0%
• By 2100: 13,006 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 32% Asian 4%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 2%
• Languages at home: 96% English-only · Vietnamese 2% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Newton

• 2024 margin: Solid R (+43.3) · D 27.9% · R 71.2%
• 2008→2024 swing: -9.2pp toward R · 2008: -34.1pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+39.3 2012: R+31.4 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.68%
• Current HPI: 84.3454
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-1.5% since first listed

4 events — show timeline

• 2026-05-07 Price Changed $64,500 MLSU
• 2026-04-03 Listed $68,500 MLSU
• 2026-01-21 Listing Removed — MLSU
• 2025-11-18 Listed $65,500 MLSU