2447 36th Pl · Meridian, MS 39307

$84,000

2 bd · 1.0 ba · 1,242 sqft · SingleFamily public records · 92 Days on market

Built 1955 0.30 ac lot $68/sqft · 49% above area Est $56k · 49% over

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Why this score? — see what drove the C- 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 +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +7.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now offered at a lower price! This move-in-ready gem offers modern updates and low-maintenance comfort. Enjoy new appliances, updated plumbing fixtures, fresh interior paint, stylish tile work, and sleek recessed lighting throughout. Bright living areas and spacious bedrooms create an inviting layout perfect for everyday living. A fantastic opportunity for buyers seeking a turnkey home in a peaceful neighborhood--ready to sell!

Key facts

• Updated tile
• Bright living spaces
• New appliances

Tags

• NEW APPLIANCES
• PLUMBING FIXTURES
• FRESH INTERIOR PAINT
• UPDATED TILE
• STYLISH RECESSED LIGHTING
• BRIGHT LIVING SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $76k (9.0% below list) — sets the bar for market timing.

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: amenities F, commute F, employment 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.
• Zoned schools: West Hills Elementary School (math 6% / reading 21%, grade F, #292 of 375 statewide, top 78%, 478 students, 100% FRL); Northwest Junior High School (math 14% / reading 18%, grade F, #129 of 179 statewide, top 73%, 566 students, 100% FRL); Meridian High School (math 17% / reading 15%, grade F, #145 of 197 statewide, top 74%, 1,301 students, 100% FRL) — zoned schools average 100% FRL vs 85% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $581 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $76,440 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.99%
• DSCR: 1.53
• GRM: 6.5

CMA / ARV

• ARV (median comp): $56,357
• List price: $84,000
• Delta: 49.05%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2511 33rd Ave	0.19mi	2/1.0	1,426 (+15%)	15mo	$24,900	$17	54
2010 39th Ave	0.43mi	2/1.0	1,316 (+6%)	20mo	$11,000	$8	54
3715 19th Ct	0.57mi	3/1.0 (+1)	1,107 (-11%)	4mo	$8,500	$8	46
3809 35th St	0.60mi	3/2.0 (+1)	1,384 (+11%)	21mo	$39,500	$29	27

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $1,387
• Equity at exit: $12,525

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $20,618
• Equity at exit: $7,263

Cash invested: $23,520 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,070 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $235

Break-even live

Break-even rent $773

Max offer price $84,000

Occupancy floor 73%

Sensitivity live

Price	-10% $283	-5% $259	+0% $235	+5% $211	+10% $187
Rent	-10% $150	-5% $193	+0% $235	+5% $277	+10% $320
Rate	-1.0pp $277	-0.5pp $256	base $235	+0.5pp $213	+1.0pp $191

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2619 17th St Meridian, MS	3.0	2.0	1200	$1,200	$1.00	45d	1	0.93mi
3915 30th Ave Unit 1 Meridian, MS	2.0	1.0	700	$900	$1.29	45d	1	0.99mi
2705 1/2 45th St Unit C-4 Meridian, MS	2.0	1.0	864	$995	$1.15	45d	1	1.37mi

Listing history 22 events

1. 2026-06-21
   days on market $84,000 Active 92 DOM
2. 2026-06-19
   days on market $84,000 Active 90 DOM
3. 2026-06-18
   days on market $84,000 Active 89 DOM
4. 2026-06-17
   days on market $84,000 Active 88 DOM
5. 2026-06-16
   days on market $84,000 Active 87 DOM
6. 2026-06-15
   days on market $84,000 Active 86 DOM
7. 2026-06-14
   days on market $84,000 Active 84 DOM
8. 2026-06-12
   statusdays on market $84,000 Active 83 DOM
9. 2026-06-09
   days on market $84,000 Active Under Contract 80 DOM
10. 2026-06-08
    days on market $84,000 Active Under Contract 79 DOM
11. 2026-06-07
    days on market $84,000 Active Under Contract 78 DOM
12. 2026-06-02
    days on market $84,000 Active Under Contract 73 DOM
13. 2026-06-01
    days on market $84,000 Active Under Contract 72 DOM
14. 2026-05-31
    days on market $84,000 Active Under Contract 71 DOM
15. 2026-05-30
    days on market $84,000 Active Under Contract 70 DOM
16. 2026-05-16
    price $84,000 431-char remark

    Show marketing remark (431 chars)

    Now offered at a lower price! This move-in-ready gem offers modern updates and low-maintenance comfort. Enjoy new appliances, updated plumbing fixtures, fresh interior paint, stylish tile work, and sleek recessed lighting throughout. Bright living areas and spacious bedrooms create an inviting layout perfect for everyday living. A fantastic opportunity for buyers seeking a turnkey home in a peaceful neighborhood--ready to sell!

17. 2026-04-06
    price $89,900 431-char remark

    Show marketing remark (431 chars)

    Now offered at a lower price! This move-in-ready gem offers modern updates and low-maintenance comfort. Enjoy new appliances, updated plumbing fixtures, fresh interior paint, stylish tile work, and sleek recessed lighting throughout. Bright living areas and spacious bedrooms create an inviting layout perfect for everyday living. A fantastic opportunity for buyers seeking a turnkey home in a peaceful neighborhood--ready to sell!

18. 2026-03-21
    listed $92,500 Active 431-char remark

    Show marketing remark (431 chars)

    Now offered at a lower price! This move-in-ready gem offers modern updates and low-maintenance comfort. Enjoy new appliances, updated plumbing fixtures, fresh interior paint, stylish tile work, and sleek recessed lighting throughout. Bright living areas and spacious bedrooms create an inviting layout perfect for everyday living. A fantastic opportunity for buyers seeking a turnkey home in a peaceful neighborhood--ready to sell!

19. 2025-01-06
    price $47,500
20. 2024-11-21
    listed $55,000 Active
21. 2024-08-13
    soldstatus
22. 2004-11-03
    soldstatus

ⓘ 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: $1,621 · $135/mo
• Projected year-2 tax: $1,621 · $135/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°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: $12,844
• − Mortgage interest: −$4,705
• − Property taxes: −$1,621
• − Insurance: −$420
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$2,444
• Taxable income: $1,599
• Est. tax owed @ 24.0%: −$384
• After-tax cash flow: $2,436/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

+52.7% since first listed

7 events — show timeline

• 2026-05-16 Price Changed $84,000 EMR
• 2026-04-06 Price Changed $89,900 EMR
• 2026-03-21 Listed $92,500 EMR
• 2025-01-06 Price Changed $47,500 EMR
• 2024-11-21 Listed $55,000 EMR
• 2024-08-13 Sold (Public Records) — Public Records
• 2004-11-03 Sold (Public Records) — Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,621 · +0.1% YoY. Source: county tax records.