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    3840 Morton-Rankin County Line Road lot 1-11 13 Morton, MS 39117

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    Claim this Listing
    For Sale
    $260,000

    MULTI_FAMILY - Morton, MS

    Property size:
    11,000 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $23/SF
    Added:
    Sep 13, 2025
    Days on Market:
    229
    Last Refresh:
    Apr 29 at 5:06 pm

    Property Features for 3840 Morton-Rankin County Line Road lot 1-11 13

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    33
    Bathrooms
    19
    Rooms
    Bedroom 1, Bedroom 5, Bathroom 5, Bathroom 17, Bedroom 21, Bedroom 12, Bedroom 20, Bedroom 25, Bathroom 14, Bathroom 20, Bedroom 22, Bedroom 28, Bedroom 14, Bedroom 31, Bathroom 9, Bathroom 10, Bathroom 15, Bedroom 23, Bathroom 13, Bedroom 15, Bedroom 27, Bathroom 12, Bedroom 18, Bathroom 11, Bedroom 26, Bedroom 29, Bedroom 13, Bathroom 6, Bathroom 18, Bathroom 16, Bathroom 19, Bathroom 21, Bedroom 8, Bedroom 19, Bedroom 32, Bathroom 4, Bedroom 33, Bathroom 1, Bathroom 8, Bedroom 16, Bedroom 6, Bedroom 7, Bedroom 11, Bedroom 24, Bathroom 2, Bedroom 10, Bedroom 9, Bedroom 30, Bedroom 3, Bathroom 7, Bedroom 17, Bedroom 4, Bathroom 3, Bedroom 2
    Standard status
    Active
    APN
    Unassigned
    Size
    11,000 SF
    Lot size
    2.40 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    2.4 AC NW 1/4 of NE 1/4 N of Road 15V/382 16Q/736
    Tax Annual Amount
    1593

    Building Details

    Year built
    1954
    Floors in Building
    1
    Number of units
    12

    We can help!

    Listing Contact
    Terri R Jones

    Listing agent Terri R Jones License #B18000

    Listing office Simply Realty 215 Woodline Drive, Ste. C, Flowood, MS

    Listing date Sep 13, 2025

    MLS# 4125653 Listing URL

    Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Morton Multifamily Investment Opportunity

    This multifamily property, situated on 2.4 acres, features 12 rental units, consisting of 11 manufactured homes and one house, plus an additional vacant pad. The property offers potential for expansion. Each unit generates approximately $650 in monthly rent, resulting in a total monthly income of $7,800 and a potential annual income of $93,600. The property is located just outside of Jackson, MS.
    Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Morton
    County
    Scott
    State
    Mississippi
    Longitude
    -89.5548
    Latitude
    32.4637

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    FAQs

    What type of property is this?
    Mobile home & RV park - Multifamily property with 12 units on 2.4 acres near Jackson.
    Where is this mobile home & rv park located?
    The property is located at 3840 Morton-Rankin County Line Road lot 1-11 13 Morton, MS.
    What is the asking price?
    The asking price for this property is $260,000.
    What are key features of this property?
    This property features: Turnkey investment property with strong cash flow potential.; 2.4‑acre property includes 12 rental units (11 manufactured homes and 1 house) plus a vacant pad.; Average acquisition cost of $24,166 per door.
    (601) 919-5075
    We can help!
    Listing Contact
    Terri R Jones
    Real Estate License ID: B18000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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