1964 Tupelo Rental on 2 Acres, Tenant Paying $1,250/Month — $95,000

The math is the first thing you notice. A tenant is already in place paying $1,250 a month on a 12-month lease, unsubsidized. At $95,000, that's a gross yield somewhere around 16 percent. That's the reason to look at this one.

The house is a 1964 three-bedroom, two-bath on two acres in Tupelo. 1,305 square feet, which is modest but workable for a rental. Tile and wood flooring throughout, fresh interior paint, newer light fixtures. The agent description calls it well-maintained, and the updates suggest someone has kept up with it rather than let it drift. That matters when you're buying a property you want to keep tenanted.

Two acres in town is the other thing. That's a lot of land for this price point. You're getting a house that cash-flows and a lot that doesn't feel cramped.

Because the tenant is in place, showings are by appointment only, and they're keeping them to serious buyers. You're not walking through this one on a whim. You'll be looking at what you can see from the listing and making a judgment about condition from there. The interior photos and the agent's notes about the updates are what you've got to work with until you schedule something.

There's nothing flashy about this property. It's a 60-year-old single-story rental on a big lot in Mississippi. The flooring and paint are clean. The numbers work. For someone building a rental portfolio who wants immediate income and a low entry price, this is a straightforward case. For someone buying a house to live in, it's less obvious. But that's not really what this listing is selling.

The lease terms, tenant history, and full condition of the mechanicals are what you'd want to know before moving. The price gives you room to absorb some surprises if the inspection turns something up.