1289 South St · Grenada, MS 38901

$125,000

3 bd · 1.0 ba · 1,592 sqft · SingleFamily public records · 117 Days on market

Built 1942 0.57 ac lot $79/sqft · 109% above area Est $90k · 39% over

---

Why this score? — see what drove the D 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 +20.0/30.0
• DSCR +6.3/10.0
• 1% rule +4.1/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Need space and flexibility? This home delivers. Offering 4-5 bedrooms and 3.5 bathrooms, the layout allows you to use the rooms in a way that fits your lifestyle. The living room features a bricked fireplace with mantle that is currently closed off and ready for a gas fireplace or mounted fireplace, creating the opportunity for a cozy focal point. Original hardwood floors run through the living room, dining area, and left-side bedrooms, adding warmth and character. All bedrooms are large. One bedroom includes an added sitting area with a half bath (sink and toilet). The primary bedroom has its own bath with a separate restroom for added privacy. Inside the home, there is an oversized den that can function as another bedroom. Separate from that, a large bonus room with a private entrance offers even more flexibility and can be used as a media room, entertainment space, guest retreat, home office, or additional bedroom. This allows the home to function as 4 or 5 bedrooms based on preference. The home also includes a dedicated office space and a separate washer and dryer room off the kitchen. The backyard is set up for a fire-pit area, perfect for relaxing or entertaining. There is plenty of parking, and the home is very clean and move-in ready. Located in the heart of the city, close to shopping, dining, and everyday conveniences, this home offers space, options, and great value. Schedule your showing today.

Key facts

• Oversized den
• Large bonus room
• Fire-pit area

Tags

• BRICKED FIREPLACE
• ORIGINAL HARDWOOD FLOORS
• OVERSIZED DEN
• LARGE BONUS ROOM
• DEDICATED OFFICE SPACE
• FIRE-PIT AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (9.0% below list).
• Recommended offer: $114k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.5% in Grenada — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 $864 of loan paydown is wiped out by about $4k 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 117 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% 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 $113,701 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 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 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 0.91% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.23
• GRM: 9.2

CMA / ARV

• ARV (median comp): $90,002
• List price: $125,000
• Delta: 38.89%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.6%
• Equity multiple: 0.58×
• Total profit: $-14,700
• Equity at exit: $18,638

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-5,691
• Equity at exit: $10,808

Cash invested: $35,000 (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
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $87

Break-even live

Break-even rent $1,026

Max offer price $125,000

Occupancy floor 87%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-14
   status Pending 1447-char remark

   Show marketing remark (1447 chars)

   Need space and flexibility? This home delivers. Offering 4-5 bedrooms and 3.5 bathrooms, the layout allows you to use the rooms in a way that fits your lifestyle. The living room features a bricked fireplace with mantle that is currently closed off and ready for a gas fireplace or mounted fireplace, creating the opportunity for a cozy focal point. Original hardwood floors run through the living room, dining area, and left-side bedrooms, adding warmth and character. All bedrooms are large. One bedroom includes an added sitting area with a half bath (sink and toilet). The primary bedroom has its own bath with a separate restroom for added privacy. Inside the home, there is an oversized den that can function as another bedroom. Separate from that, a large bonus room with a private entrance offers even more flexibility and can be used as a media room, entertainment space, guest retreat, home office, or additional bedroom. This allows the home to function as 4 or 5 bedrooms based on preference. The home also includes a dedicated office space and a separate washer and dryer room off the kitchen. The backyard is set up for a fire-pit area, perfect for relaxing or entertaining. There is plenty of parking, and the home is very clean and move-in ready. Located in the heart of the city, close to shopping, dining, and everyday conveniences, this home offers space, options, and great value. Schedule your showing today.

2. 2026-02-18
   price $125,000 1447-char remark

   Show marketing remark (1447 chars)

   Need space and flexibility? This home delivers. Offering 4-5 bedrooms and 3.5 bathrooms, the layout allows you to use the rooms in a way that fits your lifestyle. The living room features a bricked fireplace with mantle that is currently closed off and ready for a gas fireplace or mounted fireplace, creating the opportunity for a cozy focal point. Original hardwood floors run through the living room, dining area, and left-side bedrooms, adding warmth and character. All bedrooms are large. One bedroom includes an added sitting area with a half bath (sink and toilet). The primary bedroom has its own bath with a separate restroom for added privacy. Inside the home, there is an oversized den that can function as another bedroom. Separate from that, a large bonus room with a private entrance offers even more flexibility and can be used as a media room, entertainment space, guest retreat, home office, or additional bedroom. This allows the home to function as 4 or 5 bedrooms based on preference. The home also includes a dedicated office space and a separate washer and dryer room off the kitchen. The backyard is set up for a fire-pit area, perfect for relaxing or entertaining. There is plenty of parking, and the home is very clean and move-in ready. Located in the heart of the city, close to shopping, dining, and everyday conveniences, this home offers space, options, and great value. Schedule your showing today.

3. 2026-01-17
   listed $149,900 Active 1447-char remark

   Show marketing remark (1447 chars)

   Need space and flexibility? This home delivers. Offering 4-5 bedrooms and 3.5 bathrooms, the layout allows you to use the rooms in a way that fits your lifestyle. The living room features a bricked fireplace with mantle that is currently closed off and ready for a gas fireplace or mounted fireplace, creating the opportunity for a cozy focal point. Original hardwood floors run through the living room, dining area, and left-side bedrooms, adding warmth and character. All bedrooms are large. One bedroom includes an added sitting area with a half bath (sink and toilet). The primary bedroom has its own bath with a separate restroom for added privacy. Inside the home, there is an oversized den that can function as another bedroom. Separate from that, a large bonus room with a private entrance offers even more flexibility and can be used as a media room, entertainment space, guest retreat, home office, or additional bedroom. This allows the home to function as 4 or 5 bedrooms based on preference. The home also includes a dedicated office space and a separate washer and dryer room off the kitchen. The backyard is set up for a fire-pit area, perfect for relaxing or entertaining. There is plenty of parking, and the home is very clean and move-in ready. Located in the heart of the city, close to shopping, dining, and everyday conveniences, this home offers space, options, and great value. Schedule your showing today.

4. 2025-12-31
   historical
5. 2025-10-21
   listed $129,900 Active
6. 2025-09-30
   historical
7. 2025-07-06
   listed $149,900 Active
8. 2025-06-30
   historical
9. 2025-05-01
   price $155,000
10. 2025-03-08
    listed $159,900 Active
11. 2025-02-06
    historical
12. 2024-09-11
    listed $155,000 Active
13. 2008-07-11
    soldstatus $25,000

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $988 · $82/mo
• Expected delta: +$547/yr (+$46/mo · 124.1%)

ⓘ 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) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $13,644
• − Mortgage interest: −$7,002
• − Property taxes: −$441
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$3,636
• Taxable loss: −$1,040
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $1,299/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: 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

+400.0% since first listed

13 events — show timeline

• 2026-05-14 Pending — MLSU
• 2026-02-18 Price Changed $125,000 MLSU
• 2026-01-17 Listed $149,900 MLSU
• 2025-12-31 Listing Removed — MLSU
• 2025-10-21 Listed $129,900 MLSU
• 2025-09-30 Listing Removed — MLSU
• 2025-07-06 Listed $149,900 MLSU
• 2025-06-30 Listing Removed — MLSU
• 2025-05-01 Price Changed $155,000 MLSU
• 2025-03-08 Listed $159,900 MLSU
• 2025-02-06 Listing Removed — MLSU
• 2024-09-11 Listed $155,000 MLSU
• 2008-07-11 Sold (Public Records) $25,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $441 · +14.1% YoY. Source: county tax records.