Rent to Own Homes in Senatobia
Early settler James Peters purchased land from the Chickasaw Nation in April 1834, and this was later developed... Read More
Early settler James Peters purchased land from the Chickasaw Nation in April 1834, and this was later developed into the town of Senatobia. The name comes for the Indian word Senatohoba, which means “white sycamore.” A railroad station was established there in 1856, and the town was incorporated in 1860.The below results are primarily rent to own homes in Tate County, MS:
Early settler James Peters purchased land from the Chickasaw Nation in April 1834, and this was later developed... Read More
Early settler James Peters purchased land from the Chickasaw Nation in April 1834, and this was later developed into the town of Senatobia. The name comes for the Indian word Senatohoba, which means “white sycamore.” A railroad station was established there in 1856, and the town was incorporated in 1860.The below results are primarily rent to own homes in Tate County, MS:
Senatobia is home to Northwest Mississippi Community College, a state college that provides two year academic and technical degree programs. The college has three separate campuses – the other two are in Southaven and Oxford – and has a total enrollment of about 8,000 students. It was founded in 1915 as the Tate County Agricultural High School.
Considered the 16th largest municipality in the Memphis Metropolitan Area, the town is 40 miles from downtown Memphis. It’s close to both Arkabutla Lake and Sardis Lake, which are popular places for boating, fishing, swimming, hiking, hunting, horseback riding, mountain biking, and picnicking.
Two Academy-award winning films were shot partially in Senatobia: The Client (1994) and The People vs. Larry Flynt (1996).
Buying a Home in Senatobia
Current home listings range from $55,000 to $590,000. The median home price is $128,000, which is over 30 percent below the national average. Overall, the cost of living in Senatobia is about 15 percent below the national average.
The median age of the residents is 31, and about 38.5 percent of the population is married. Nearly 60 percent of the residential real estate is owner occupied, and the median household income is about $33,700.
Senatobia is served by the Senatobia Municipal School District, which is comprised of an elementary, middle, and high school. The schools are generally highly rated. Private schools are available as well.
Buying vs. Rent to Own Homes
You may be thinking of a move to the quiet, idyllic area of Senatobia. But buying a home can be a long process that requires a down payment and pre-qualification. Perhaps you think that buying a home is beyond your reach. But many are taking advantage of rent-to-own opportunities. A portion of each month’s rent goes toward a down payment to eventually buy the home. Renters who may not be able to afford a large down payment can still look forward to becoming proud homeowners.
Summary
The mild climate in Senatobia along with the low housing cost and proximity to Memphis make it a place worth considering. Job growth is positive and projected to be more than 40 percent over the next ten years. Between 2000 and 2010, the population grew by over 20 percent, so the prospects look good for continued economic growth in this small Mississippi town.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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