115 Doors · Grenada, MS 38901

$3,600,000

None bd · None ba · 48,797 sqft · MultiFamily · 139 Days on market

Poor condition 0.56 ac lot ↓ 10% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

LARGE MULTI-UNIT PACKAGE IN GRENADA! 115 Doors! 1 Commercial building, 3 Duplexes, 5 Multi-Unit Properties, 57 Single-Family Homes and 7 lots! Check document section for a compilation of addresses for each individual property. Current rent rolls available upon request. This is your chance to invest in Grenada as the NEW Milwaukee plant opens in this area! An incredible opportunity to invest in a large portfolio at ONCE! (There are more properties than pictured. ) * * Owner Financing Available, Contact Listing Agent for More Info * * * All information deemed reliable, but subject to verification. *

Key facts

• 0.56 acre lot
• Listed 138 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $3.60M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-25k ($-299k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Recommended offer: $3.17M (12.0% below list) — sets the bar for market timing.
• Cap rate -2.0% vs local median 4.5% in Grenada — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 67/100 on livability (#83 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: health & safety D+, schools D, amenities F.
• Grenada School District (town): math 53% / reading 43% proficiency, ranked #19 of 130 in MS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 128 active listings in the ZIP; 1 units permitted in Grenada County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $25k of loan paydown is wiped out by about $108k of value loss. Plan a longer hold.
• Grenada County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($3.17M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,168,000 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.00% ✗
• Cap rate: -2.00%
• Cash-on-cash: -29.62%
• DSCR: -0.32
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -87.3%
• Equity multiple: -1.15×
• Total profit: $-2,172,090
• Equity at exit: $536,772

10-year hold

• IRR: —
• Equity multiple: -2.91×
• Total profit: $-3,937,055
• Equity at exit: $311,262

Cash invested: $1,008,000 (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 38901

• Home prices YoY: -27.9%
• Active inventory: 128

Monthly cashflow live

• Estimated rent: $0 none
• Mortgage (P&I): −$18,879
• Tax est. 1.5%: −$4,500 /mo · $54,000/yr
• Insurance: −$1,500
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$0
• Net cashflow: $-24,945

Break-even live

Break-even rent —

Max offer price —

Occupancy floor —

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: $900,000
• Closing costs: $108,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $3,600,000 Active 139 DOM
2. 2026-06-17
   days on market $3,600,000 Active 138 DOM
3. 2026-06-16
   days on market $3,600,000 Active 137 DOM
4. 2026-06-15
   days on market $3,600,000 Active 136 DOM
5. 2026-06-13
   days on market $3,600,000 Active 134 DOM
6. 2026-06-12
   days on market $3,600,000 Active 133 DOM
7. 2026-06-09
   days on market $3,600,000 Active 130 DOM
8. 2026-06-08
   days on market $3,600,000 Active 129 DOM
9. 2026-06-07
   days on market $3,600,000 Active 128 DOM
10. 2026-06-04
    days on market $3,600,000 Active 124 DOM
11. 2026-06-02
    days on market $3,600,000 Active 123 DOM
12. 2026-06-01
    days on market $3,600,000 Active 122 DOM
13. 2026-05-31
    days on market $3,600,000 Active 121 DOM
14. 2026-01-30
    status Active

    Show marketing remark (609 chars)

    LARGE MULTI-UNIT PACKAGE IN GRENADA! 115 Doors! 1 Commercial building, 3 Duplexes, 5 Multi-Unit Properties, 57 Single-Family Homes and 7 lots! Check document section for a compilation of addresses for each individual property. Current rent rolls available upon request. This is your chance to invest in Grenada as the NEW Milwaukee plant opens in this area! An incredible opportunity to invest in a large portfolio at ONCE! (There are more properties than pictured. ) * * Owner Financing Available, Contact Listing Agent for More Info * * * All information deemed reliable, but subject to verification. *

15. 2026-01-30
    listed $3,600,000 Active 609-char remark

    Show marketing remark (609 chars)

    LARGE MULTI-UNIT PACKAGE IN GRENADA! 115 Doors! 1 Commercial building, 3 Duplexes, 5 Multi-Unit Properties, 57 Single-Family Homes and 7 lots! Check document section for a compilation of addresses for each individual property. Current rent rolls available upon request. This is your chance to invest in Grenada as the NEW Milwaukee plant opens in this area! An incredible opportunity to invest in a large portfolio at ONCE! (There are more properties than pictured. ) * * Owner Financing Available, Contact Listing Agent for More Info * * * All information deemed reliable, but subject to verification. *

16. 2025-05-15
    price $3,700,000
17. 2025-01-02
    price $3,800,000
18. 2024-10-24
    listed $4,000,000 Active

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $0
• − Mortgage interest: −$201,656
• − Property taxes: −$54,000
• − Insurance: −$18,798
• − Repairs & maintenance: −$0
• − Management: −$0
• − Depreciation: −$104,727
• Taxable loss: −$379,181
• Est. tax savings @ 24.0%: +$91,003
• After-tax cash flow: $-208,340/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

Poor 20/100 Extensive rehab

This multi-family property requires extensive renovation and repair to become move-in ready and increase its value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but overall poor condition
• Major flooring — No visible flooring, but overall poor condition
• Major interior walls/paint — No visible interior, but overall poor condition
• Major systems — No visible systems, but overall poor condition

Value-add opportunities

• Both extensive exterior renovation — Improves curb appeal and rental value
• Both roof replacement — Essential for structural integrity and rental value
• Both flooring and interior renovation — Enhances living space and rental value
• Both system upgrades — Improves functionality and rental value

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 overall poor condition	Major	$15,000–50,000
flooring · No visible flooring, but overall poor condition	Major	$15,000–50,000
interior walls/paint · No visible interior, but overall poor condition	Major	$15,000–50,000
systems · No visible systems, but overall poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both extensive exterior renovation — Improves curb appeal and rental value ↑
• Both roof replacement — Essential for structural integrity and rental value ↑
• Both flooring and interior renovation — Enhances living space and rental value ↑
• Both system upgrades — Improves functionality and rental value ↑

ⓘ 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: Grenada School District
• NCES district ID: 2801680
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $33,936
• Composite: 39.64/100
• National rank: #3917
• State rank: #19 of 130 in MS

Livability — Grenada

• Score: 67/100
• State rank: #83
• US rank: #10746

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grenada, MS
• City population: 17,887
• Population (ZIP): 17,887

Population outlook (Grenada County) Hauer SSP2

• Today (2025): 20,777 people
• By 2030: 20,169 · -2.9%
• By 2040: 18,782 · -9.6%
• By 2050: 17,415 · -16.2%
• By 2075: 14,218 · -31.6%
• By 2100: 11,114 · -46.5%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: White 49% Black 48% Two or more races 2%
• Common ancestry: Italian 1% Slovak 1% Portuguese 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Grenada

• 2024 margin: R (+16.3) · D 41.6% · R 57.9%
• 2008→2024 swing: -5.6pp toward R · 2008: -10.7pp · 2024: -16.3pp
• All cycles: 2024: R+16.3 2020: R+12.3 2016: R+14.9 2012: R+6.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.82%
• Current HPI: 144.3743
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-10.0% since first listed

5 events — show timeline

• 2026-01-30 Relisted — NEMSBD
• 2026-01-30 Listed $3,600,000 NEMSBD
• 2025-05-15 Price Changed $3,700,000 NEMSBD
• 2025-01-02 Price Changed $3,800,000 NEMSBD
• 2024-10-24 Listed $4,000,000 NEMSBD