171 Road 199, Tupelo, MS, 38801
About This Home
Lakefront / Lilly Jean Duplexes & Houses Expand your portfolio with this rare, income-producing multi-family community situated on over 17 scenic acres NEAR a private lake. This unique offering includes 67 residential units consisting of 60 duplex units (2-bedroom, 1-bath) and 7 single-family homes with a mix of floor plans: 3 homes - 3 bedroom, 2 bath 2 homes - 3 bedroom, 1 bath 2 homes - 2 bedroom, 1 bath Currently 97% occupied with predominantly one-year leases in place, this property provides immediate, stable cash flow. Many units have been updated with fresh paint, flooring, cabinets and other improvements, helping attract and retain quality tenants. The property is serviced by city water with an available well system offering operational flexibility. The spacious grounds, mature setting, and lake views create an attractive living environment that sets this community apart from typical rental properties. Whether you're looking to expand an existing portfolio or acquire a turnkey investment with strong occupancy and long-term potential, this is an opportunity to purchase an entire established rental community in a single transaction. Highlights: 67 total residential units 60 duplex units (2 bed / 1 bath) 7 single-family homes Over 17 acres with a lake views 97% occupied Predominantly one-year leases Most units renovated
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1987
Materials
- Foundation: Slab
- Roof: Metal,Shingle
- Construction materials: Brick,Siding
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family,Duplex
Interior
Appliances
- Appliances included: Water Heater
Bedrooms & Bathrooms
- Bedrooms: 8
- Bathrooms: 70
- Full bathrooms: 70
Features
- Fireplace features: None
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total structure area: 70,000
- Total interior livable area: 70,000 sqft
Property
Details
- Parcel number: 10401703700
Features
- Levels: One
- Stories: 1
- Exterior features: Lighting
- On waterfront: Yes
- Waterfront features: See Remarks
Lot
- Lot size: 10.80 Acres
- Features: Cul-De-Sac,Landscaped,Many Trees
Parking
- Total spaces: 102
- Parking features: Concrete,On Site
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Heat Wave
- Lightning
- Tornado
- Earthquake
- Hail
- Inland Flooding
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters in Lee County and Mississippi
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $19,214 | $230,568 |
| Home Insurance * | $3,061 | $36,732 |
| Property Taxes | $2,216 | $26,592 |
| Electricity | $6,508 | $78,107 |
| Total | $30,999 | $371,988 |
Income You'd Need if You Spent...
Mississippi FAIR Plan Programs
Mississippi Residential Property Insurance Underwriting Association
WildfireHailWindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-22 | Listed for sale | $3,800,000 |
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