4608 3rd St · Meridian, MS 39307

$34,500

2 bd · 1.0 ba · 892 sqft · SingleFamily public records · 14 Days on market

Built 1940 2,340 sqft lot

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

MODEST 2BR/1BA BUNGALOW! ALL ELECTRIC WITH CH/A.

Key facts

• 2,340 sq ft lot
• Built 1940
• Listed 13 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single story
• Construction: Wood siding
• Exterior features: Composition roof

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Electric range; Refrigerator; Electric water heater; Central heating; Central air
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).

Location & tenants

• Location reads 64/100 on livability (#141 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D, amenities F, commute F.
• Meridian Public Schools (town): math 13% / reading 17% proficiency, ranked #109 of 130 in MS (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 29 active listings in the ZIP; 18 units permitted in Lauderdale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $239 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lauderdale County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,500

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.20% ✓
• Cap rate: 29.01%
• Cash-on-cash: 81.12%
• DSCR: 4.61
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $14,272
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 46th Avenue Ave	0.70mi	3/1.0 (+1)	965 (+8%)	19mo	$15,000	$16	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 72.6%
• Equity multiple: 4.29×
• Total profit: $31,811
• Equity at exit: $5,144

10-year hold

• IRR: 76.5%
• Equity multiple: 8.87×
• Total profit: $75,987
• Equity at exit: $2,983

Cash invested: $9,660 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Mississippi: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; very landlord-favorable; no rent control.

Methodology + full state rankings →

ZIP-level market 39307

• Home prices YoY: -21.6%
• Active inventory: 29
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,104 medium
• Mortgage (P&I): −$181
• Tax from tax record: −$23 /mo · $282/yr
• Insurance: −$14
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $587

Break-even live

Break-even rent $361

Max offer price $34,500

Occupancy floor 42%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,625
• Closing costs: $1,035
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-17
   days on market $34,500 Active 14 DOM
2. 2026-06-16
   days on market $34,500 Active 13 DOM
3. 2026-06-15
   days on market $34,500 Active 12 DOM
4. 2026-06-14
   days on market $34,500 Active 10 DOM
5. 2026-06-12
   days on market $34,500 Active 9 DOM
6. 2026-06-09
   days on market $34,500 Active 6 DOM
7. 2026-06-08
   days on market $34,500 Active 5 DOM
8. 2026-06-07
   remarks 49-char remark
9. 2026-06-07
   listed $34,500 Active 4 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $282 · $23/mo
• Projected year-2 tax: $282 · $23/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,242
• − Mortgage interest: −$1,933
• − Property taxes: −$282
• − Insurance: −$970
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$1,004
• Taxable income: $6,935
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $5,374/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Meridian Public Schools
• NCES district ID: 2802910
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $30,236
• Composite: 11.87/100
• National rank: #9673
• State rank: #109 of 130 in MS

Livability — Meridian

• Score: 64/100
• State rank: #141
• US rank: #14839

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment F Housing A Health & safety D- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meridian, MS
• City population: 42,445
• Population (ZIP): 15,636

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 75,158 people
• By 2030: 72,770 · -3.2%
• By 2040: 67,309 · -10.4%
• By 2050: 61,797 · -17.8%
• By 2075: 49,790 · -33.8%
• By 2100: 39,797 · -47.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 26% Two or more races 4%
• Common ancestry: Serbian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Strong R (+21.2) · D 39.0% · R 60.2%
• 2008→2024 swing: -2.3pp toward R · 2008: -18.9pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+16.0 2016: R+23.0 2012: R+15.5 2008: R+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.34%
• Current HPI: 121.0078
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-06-03 Listed $34,500 EMR
• 2021-03-24 Sold (Public Records) — Public Records
• 2004-12-31 Sold (Public Records) — Public Records

Property tax history

-1.1%/yr

Latest (2025): $282 · +0.1% YoY. Source: county tax records.