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171 Road 199, Tupelo, MS 38801 (MLS# 4156733)

171 Road 199, Tupelo, MS 38801

$3,800,000
Property Type: Res Income Multi-Fam Bedrooms: 8 Square Footage: 70,000 Lot Size (sq. ft.): 470,448 Status: Active
Current Price: $3,800,000 List Date: 7/22/2026 Last Modified: 8/12/2026

Overview

Description

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 acquir ...

Listing Details MLS# 4156733

General Property Information

# of Units Included in Sale
67
Approx Lot Size Acres
10.8
Approx H/C SqFt
70000
SqFt Source
Public Records
List Price/SqFt
54.29
Year Built Known
Yes
Year Built
1987
Year Built Source
Public Records
Total Floors
Yes
Bedrooms Total
8
Bathrooms Full
70
Furnished
No
Accessibility Features
No

Property Features

Structure Type: Duplex Lot Features: Cul-De-Sac; Landscaped; Many Trees Levels: One Fireplace Features: None Appliances: Water Heater Cooling: Central Air Heating: Central Utilities: Cable Connected; Electricity Connected; Sewer Connected; Water Connected Sewer: Shared Septic Water Source: Public; Well Foundation Details: Slab Listing Terms: Cash; Conventional; Other Roof: Metal; Shingle Exterior Features: Lighting Parking Features: Concrete; On Site Waterfront Features: See Remarks

Address and Location Information

Street Number
171
Street Name
Road 199
County
Lee
State
MS
Zip Code
38801
Parcel Number
1040-17-037-00
Subdivision
None
Directions to Property
From RD 199 turn onto Dr 171, property will be on the right side.
Community Of
N/A

Listing Information

Listing Service
Limited Service

Tax and Financial Information

Tax Annual Amount
25421.11
Tax Year
2025
Homestead Y/N
No
Additional Exemptions Y/N
No
Flood Insurance Required?
No
Leasehold Y/N
No
Association
No
Covenants Y/N
No
Legal Description
PT SE1/4 NE1/4 BK 2010 PG 00376112/16/2009

Parking Features

Parking Total
102

More Information

Waterfront Features

Waterfront
Yes

Showing Requirements

Showing
Appointment Required
Appointment Phone
(682) 200-3053
Listing Office: Sell Your Home Services, LLC.
Listing Agent: Daniel Demers
Source MLS Verified
Last Updated: August - 12 - 2026
Information is deemed to be reliable but not guaranteed. Copyright 2026 MLS United, LLC.
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