2221 Long St · Grenada, MS 38901

$135,000

3 bd · 1.0 ba · 1,085 sqft · SingleFamily public records · 87 Days on market

Built 1953 0.34 ac lot $124/sqft · 8% below area Est $151k · 10% under

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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).

• ARV discount +12.2/15.0
• Cash flow +9.7/30.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look inside this charming cottage style home conveniently located in the heart of Grenada. Walking distance to schools, ball field, restaurants, and shopping. The layout of this home is comfortable yet still functional. 3 bedroom, 1 bath home comes with a fenced in yard, extra land, a garage and one car carport. Don't let this one get away.

Key facts

• Extra land
• One car carport
• Fenced in yard

Tags

• COTTAGE STYLE HOME
• FENCED IN YARD
• EXTRA LAND
• ONE CAR CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (20.8% below list).
• Recommended offer: $107k (20.8% below list) — sets the bar for 1% rule.

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 $933 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 87 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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.
• Current owner paid $48k; list at $135k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $106,973 (20.8% 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 87 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.79% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $150,678
• List price: $135,000
• Delta: -10.40%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
752 Scenic Dr	0.48mi	3/2.0	1,160 (+7%)	9mo	$159,000	$137	54
740 Robinson Rd	0.62mi	3/1.5	1,182 (+9%)	0mo	$140,000	$118	54
722 Cherokee Ln	0.36mi	3/1.5	1,240 (+14%)	9mo	$149,000	$120	49
91 Thomas St	0.70mi	2/1.0 (-1)	1,114 (+3%)	16mo	$45,000	$40	45
970 White Cir	0.65mi	2/1.0 (-1)	924 (-15%)	2mo	$129,000	$140	38

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: -20.9%
• Equity multiple: 0.27×
• Total profit: $-27,456
• Equity at exit: $20,129

10-year hold

• IRR: -14.3%
• Equity multiple: 0.18×
• Total profit: $-31,049
• Equity at exit: $11,672

Cash invested: $37,800 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,070 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-88

Break-even live

Break-even rent $1,181

Max offer price $122,285

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-41	+0% $-88	+5% $-135	+10% $-181
Rent	-10% $-172	-5% $-130	+0% $-88	+5% $-46	+10% $-3
Rate	-1.0pp $-20	-0.5pp $-54	base $-88	+0.5pp $-123	+1.0pp $-158

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $135,000 Active 87 DOM
2. 2026-06-18
   days on market $135,000 Active 85 DOM
3. 2026-06-17
   days on market $135,000 Active 84 DOM
4. 2026-06-16
   days on market $135,000 Active 83 DOM
5. 2026-06-15
   days on market $135,000 Active 82 DOM
6. 2026-06-13
   days on market $135,000 Active 80 DOM
7. 2026-06-12
   days on market $135,000 Active 79 DOM
8. 2026-06-09
   pricedays on market $135,000 Active 76 DOM
9. 2026-06-08
   days on market $138,000 Active 75 DOM
10. 2026-06-07
    days on market $138,000 Active 74 DOM
11. 2026-06-04
    days on market $138,000 Active 70 DOM
12. 2026-06-02
    days on market $138,000 Active 69 DOM
13. 2026-06-01
    days on market $138,000 Active 68 DOM
14. 2026-05-31
    days on market $138,000 Active 67 DOM
15. 2026-03-24
    listed $138,000 Active 349-char remark

    Show marketing remark (349 chars)

    Take a look inside this charming cottage style home conveniently located in the heart of Grenada. Walking distance to schools, ball field, restaurants, and shopping. The layout of this home is comfortable yet still functional. 3 bedroom, 1 bath home comes with a fenced in yard, extra land, a garage and one car carport. Don't let this one get away.

16. 2008-08-15
    soldstatus $47,500
17. 2008-08-15
    soldstatus $47,500
18. 2002-08-21
    soldstatus
19. 2002-01-18
    listed $32,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,837
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$3,927
• Taxable loss: −$3,406
• Est. tax savings @ 24.0%: +$818
• After-tax cash flow: $-237/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

+319.5% since first listed

5 events — show timeline

• 2026-03-24 Listed $138,000 MLSU
• 2008-08-15 Sold (Public Records) $47,500 Public Records
• 2008-08-15 Sold (Public Records) $47,500 Public Records
• 2002-08-21 Sold (MLS) — MLSU
• 2002-01-18 Listed $32,900 MLSU

Property tax history

+0.8%/yr

Latest (2019): $266 · +1.9% YoY. Source: county tax records.