87 Dean Dr · Grenada, MS 38901

$20,000

3 bd · 1.0 ba · 1,304 sqft · SingleFamily public records · 108 Days on market

Built 1944 6,969 sqft lot $15/sqft · 83% below area ↓ 47% since listing

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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).

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

Listing remarks MLS

Great opportunity in Grenada! 87 Dean Dr offers a solid layout with plenty of potential and is perfect for a buyer looking to add their own personal touch. This home will need a little TLC, but with the right vision, it could truly shine. Conveniently located near local amenities—schedule your showing today and come explore the possibilities!

Key facts

• 6,969 sq ft lot
• Garage
• Built 1944

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.
• Cap rate 51.1% 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 $138 of loan paydown is wiped out by about $600 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $18,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 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 1944 — 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. 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?
7. 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.
8. 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.
9. 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: 5.65% ✓
• Cap rate: 51.13%
• Cash-on-cash: 160.12%
• DSCR: 8.12
• GRM: 1.5

CMA / ARV

• ARV (median comp): $135,000
• List price: $20,000
• Delta: -85.19%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87 Dean Dr	0.00mi	3/2.0	1,466 (+12%)	1mo	$20,000	$14	74
354 Walthall St	0.43mi	3/2.0	1,362 (+4%)	2mo	$59,000	$43	67
814 Windsor Rd	0.69mi	3/2.0	1,352 (+4%)	2mo	$185,000	$137	56
740 Robinson Rd	0.66mi	3/1.5	1,182 (-9%)	0mo	$140,000	$118	52
91 Thomas St	0.19mi	2/1.0 (-1)	1,114 (-15%)	16mo	$45,000	$40	49
366 Elm St	0.57mi	2/1.0 (-1)	1,462 (+12%)	1mo	$6,000	$4	47
768 Becky St	0.69mi	4/2.5 (+1)	1,118 (-14%)	1mo	$50,000	$45	32

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: —
• Equity multiple: 8.92×
• Total profit: $44,373
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 18.86×
• Total profit: $100,010
• Equity at exit: $1,729

Cash invested: $5,600 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$32 /mo · $389/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $747

Break-even live

Break-even rent $184

Max offer price $20,000

Occupancy floor 29%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-09
   status Pending 350-char remark

   Show marketing remark (350 chars)

   Great opportunity in Grenada! 87 Dean Dr offers a solid layout with plenty of potential and is perfect for a buyer looking to add their own personal touch. This home will need a little TLC, but with the right vision, it could truly shine. Conveniently located near local amenities—schedule your showing today and come explore the possibilities!

2. 2026-03-27
   price $20,000 350-char remark

   Show marketing remark (350 chars)

   Great opportunity in Grenada! 87 Dean Dr offers a solid layout with plenty of potential and is perfect for a buyer looking to add their own personal touch. This home will need a little TLC, but with the right vision, it could truly shine. Conveniently located near local amenities—schedule your showing today and come explore the possibilities!

3. 2026-03-05
   price $35,000 350-char remark

   Show marketing remark (350 chars)

   Great opportunity in Grenada! 87 Dean Dr offers a solid layout with plenty of potential and is perfect for a buyer looking to add their own personal touch. This home will need a little TLC, but with the right vision, it could truly shine. Conveniently located near local amenities—schedule your showing today and come explore the possibilities!

4. 2026-01-21
   listed $38,000 Active 350-char remark

   Show marketing remark (350 chars)

   Great opportunity in Grenada! 87 Dean Dr offers a solid layout with plenty of potential and is perfect for a buyer looking to add their own personal touch. This home will need a little TLC, but with the right vision, it could truly shine. Conveniently located near local amenities—schedule your showing today and come explore the possibilities!

ⓘ 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: $389 · $32/mo
• Projected year-2 tax: $389 · $32/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 3/10 Moderate
• 🌡 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: $13,563
• − Mortgage interest: −$1,120
• − Property taxes: −$389
• − Insurance: −$100
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$582
• Taxable income: $9,202
• Est. tax owed @ 24.0%: −$2,208
• After-tax cash flow: $6,759/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

-47.4% since first listed

4 events — show timeline

• 2026-05-09 Pending — MLSU
• 2026-03-27 Price Changed $20,000 MLSU
• 2026-03-05 Price Changed $35,000 MLSU
• 2026-01-21 Listed $38,000 MLSU

Property tax history

+4.2%/yr

Latest (2025): $389 · -17.9% YoY. Source: county tax records.