8068 Hwy 11 N

Picayune, MS 39426

$84,000B+

3 bd · 2.0 ba · 1,456 sqft · Built 1985 · Manufactured · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,217/mo
• Mortgage (P&I): −$441
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $449/mo
• Annual: $5,383/yr
• Cap rate: 12.70%
• Cash-on-cash: 22.89%
• DSCR: 2.02
• 1% rule: 1.45%
• Cash to close: $23,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $84k.
• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• It's been on market 47 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#11 in MS, #3,748 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, amenities A; Watch: commute F, employment F.
• Pearl River County School District (rural): math 44% / reading 38% proficiency, ranked #35 of 130 in MS (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pearl River Central Elementar (math 40% / reading 41%, grade F, #118 of 375 statewide, top 32%, 1,501 students, 100% FRL); Pearl River Central Junior High (math 46% / reading 35%, grade F, #60 of 179 statewide, top 37%, 772 students, 100% FRL); Pearl River Central High School (math 50% / reading 41%, grade D-, #33 of 197 statewide, top 16%, 1,011 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: 321 active listings in the ZIP; 326 units permitted in Pearl River County in 2024 (0 in 5+ unit buildings).
• Pearl River County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% 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.
• Cap rate 12.7% vs local median 3.3% in Picayune — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.