2433 24th Ave · Meridian, MS 39301

$179,900

4 bd · 4.0 ba · 2,343 sqft · MultiFamily · 60 Days on market

Built 1964 Fair condition 5,350 sqft lot $77/sqft · 53% below area

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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 +2.2/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

INVESTMENT OPPORTUNITY - CHARMING 1BR/1BA ALL ELECTRIC FOURPLEX IN A PRIME LOCATION! Welcome to 2433 - 26th Street - a well maintained and income-producing fourplex that blends character, convenience, and strong rental potential. Whether you're expanding your portfolio or stepping into multifamily investing, this property offers a compelling opportunity. Don't miss your chance to own a versatile and dependable multifamily property. Schedule your private showing today and explore the possibilities at 2433 - 26th Street!

Key facts

• Multifamily property
• Income producing
• Well maintained

Tags

• INVESTMENT OPPORTUNITY
• PRIME LOCATION
• WELL MAINTAINED
• INCOME PRODUCING
• MULTIFAMILY PROPERTY

What this means for you Summary

Snapshot

• This is a 4 × 1.0-bed/1.0-bath units multifamily listed at $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $552/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $180k).
• Recommended offer: $175k (3.0% 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: 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: 54 active listings in the ZIP; lower-income renter base — watch delinquency; 18 units permitted in Lauderdale County in 2024 (0 in 5+ unit buildings).
• At $4,368/mo this rent would consume 125% of the median local household income ($42k/yr) (locally 566% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.43% ✓
• Cap rate: 21.02%
• Cash-on-cash: 52.59%
• DSCR: 3.34
• GRM: 3.4

CMA / ARV

• ARV (median comp): $379,967
• List price: $179,900
• Delta: -52.65%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 50.6%
• Equity multiple: 3.21×
• Total profit: $111,509
• Equity at exit: $26,824

10-year hold

• IRR: 56.0%
• Equity multiple: 6.53×
• Total profit: $278,407
• Equity at exit: $15,554

Cash invested: $50,372 (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 39301

• Active inventory: 54
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $4,368 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$917
• Net cashflow: $2,207

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 44%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1.0	1	$4,368
Total (4 units)			$4,368

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $179,900 Active 60 DOM
2. 2026-06-18
   days on market $179,900 Active 59 DOM
3. 2026-06-17
   days on market $179,900 Active 58 DOM
4. 2026-06-16
   days on market $179,900 Active 57 DOM
5. 2026-06-15
   days on market $179,900 Active 56 DOM
6. 2026-06-14
   days on market $179,900 Active 54 DOM
7. 2026-06-12
   days on market $179,900 Active 53 DOM
8. 2026-06-09
   days on market $179,900 Active 50 DOM
9. 2026-06-08
   days on market $179,900 Active 49 DOM
10. 2026-06-07
    days on market $179,900 Active 48 DOM
11. 2026-06-02
    days on market $179,900 Active 43 DOM
12. 2026-06-01
    days on market $179,900 Active 42 DOM
13. 2026-05-31
    days on market $179,900 Active 41 DOM
14. 2026-05-30
    days on market $179,900 Active 40 DOM
15. 2026-04-20
    listed $179,900 Active 525-char remark

    Show marketing remark (525 chars)

    INVESTMENT OPPORTUNITY - CHARMING 1BR/1BA ALL ELECTRIC FOURPLEX IN A PRIME LOCATION! Welcome to 2433 - 26th Street - a well maintained and income-producing fourplex that blends character, convenience, and strong rental potential. Whether you're expanding your portfolio or stepping into multifamily investing, this property offers a compelling opportunity. Don't miss your chance to own a versatile and dependable multifamily property. Schedule your private showing today and explore the possibilities at 2433 - 26th Street!

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% 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: $52,416
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$4,193
• − Management: −$4,193
• − Depreciation: −$5,233
• Taxable income: $25,121
• Est. tax owed @ 24.0%: −$6,029
• After-tax cash flow: $20,461/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This fourplex presents significant opportunities for renovation and improvement, with major repairs and updates needed to enhance its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but age is implied
• Major flooring — No visible flooring, but wear is implied
• Major interior walls/paint — No visible interior, but paint wear is implied
• Major kitchen — No visible kitchen, but wear is implied
• Major bathrooms — No visible bathrooms, but wear is implied
• Major systems — No visible systems, but age is implied

Value-add opportunities

• Both paint exterior — Enhances curb appeal and property value
• Both repair roof — Improves property value and reduces maintenance costs
• Both replace flooring — Enhances interior aesthetics and property value
• Both paint interior — Enhances interior aesthetics and property value
• Both update kitchen — Enhances functionality and property value
• Both update bathrooms — Enhances functionality and property value
• Both update systems — Improves property value and reduces maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but age is implied	Major	$15,000–50,000
flooring · No visible flooring, but wear is implied	Major	$15,000–50,000
interior walls/paint · No visible interior, but paint wear is implied	Major	$15,000–50,000
kitchen · No visible kitchen, but wear is implied	Major	$15,000–50,000
bathrooms · No visible bathrooms, but wear is implied	Major	$15,000–50,000
systems · No visible systems, but age is implied	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and property value ↑
• Both repair roof — Improves property value and reduces maintenance costs ↑
• Both replace flooring — Enhances interior aesthetics and property value ↑
• Both paint interior — Enhances interior aesthetics and property value ↑
• Both update kitchen — Enhances functionality and property value ↑
• Both update bathrooms — Enhances functionality and property value ↑
• Both update systems — Improves property value and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• County: Lauderdale County · 42,445 people
• City population: 42,445
• Metro: Meridian, MS
• Population (ZIP): 20,807
• Household income: $41,766
• Rent vs Own: 39.6% rent · 60.4% own
• Severe rent burden: 566.0

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: Majority White (56%)
• Race & ethnicity: White 56% Black 40% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -64.11%
• Current HPI: 116.4831
• Rent YoY: —
• Metro: Meridian, MS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-04-20 Listed $179,900 EMR