910 28th Ave · Meridian, MS 39301

$40,000

3 bd · 2.0 ba · 1,442 sqft · MultiFamily public records · 126 Days on market

Built 1900 10,709 sqft lot $28/sqft · 155% above area ↓ 11% since listing

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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 +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This older home boasts hardwood floors throughout, large spacious rooms complemented by numerous original features that date back over a century. The timeless elements give this property a unique character and historic appeal, making it a truly special place to fix up and bring back its charm. Investor Project!

Key facts

• Large spacious rooms
• Unique character
• Original features

Tags

• HARDWOOD FLOORS
• LARGE SPACIOUS ROOMS
• ORIGINAL FEATURES
• HISTORIC APPEAL
• UNIQUE CHARACTER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $40k.

Deal economics

• At list price, monthly cash flow is $999 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% 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; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 18 units permitted in Lauderdale County in 2024 (0 in 5+ unit buildings).
• At $1,651/mo this rent would consume 47% 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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.
7. 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.
8. 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: 4.13% ✓
• Cap rate: 36.27%
• Cash-on-cash: 107.05%
• DSCR: 5.76
• GRM: 2.0

CMA / ARV

• ARV (median comp): $15,748
• List price: $40,000
• Delta: 154.01%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.11×
• Total profit: $57,197
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 12.78×
• Total profit: $131,921
• Equity at exit: $3,458

Cash invested: $11,200 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,651 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $999

Break-even live

Break-even rent $386

Max offer price $40,000

Occupancy floor 34%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2619 17th St Meridian, MS	3.0	2.0	1200	$1,200	$1.00	43d	1	0.55mi
1426 50th Ave Meridian, MS	3.0	2.0	1600	$1,325	$0.83	43d	1	1.38mi

Listing history 16 events

1. 2026-06-19
   days on market $40,000 Active 126 DOM
2. 2026-06-18
   days on market $40,000 Active 125 DOM
3. 2026-06-17
   days on market $40,000 Active 124 DOM
4. 2026-06-16
   days on market $40,000 Active 123 DOM
5. 2026-06-15
   days on market $40,000 Active 122 DOM
6. 2026-06-14
   days on market $40,000 Active 120 DOM
7. 2026-06-12
   days on market $40,000 Active 119 DOM
8. 2026-06-09
   days on market $40,000 Active 116 DOM
9. 2026-06-08
   days on market $40,000 Active 115 DOM
10. 2026-06-07
    days on market $40,000 Active 114 DOM
11. 2026-06-02
    days on market $40,000 Active 109 DOM
12. 2026-06-01
    days on market $40,000 Active 108 DOM
13. 2026-05-31
    days on market $40,000 Active 107 DOM
14. 2026-05-30
    days on market $40,000 Active 106 DOM
15. 2026-04-14
    price $40,000 312-char remark

    Show marketing remark (312 chars)

    This older home boasts hardwood floors throughout, large spacious rooms complemented by numerous original features that date back over a century. The timeless elements give this property a unique character and historic appeal, making it a truly special place to fix up and bring back its charm. Investor Project!

16. 2026-02-13
    listed $45,000 Active 312-char remark

    Show marketing remark (312 chars)

    This older home boasts hardwood floors throughout, large spacious rooms complemented by numerous original features that date back over a century. The timeless elements give this property a unique character and historic appeal, making it a truly special place to fix up and bring back its charm. Investor Project!

ⓘ 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: $941 · $78/mo
• Projected year-2 tax: $941 · $78/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 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: $19,807
• − Mortgage interest: −$2,241
• − Property taxes: −$941
• − Insurance: −$200
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$1,164
• Taxable income: $12,093
• Est. tax owed @ 24.0%: −$2,902
• After-tax cash flow: $9,088/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: 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

-11.1% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $40,000 EMR
• 2026-02-13 Listed $45,000 EMR

Property tax history

+1.9%/yr

Latest (2025): $941 · +0.1% YoY. Source: county tax records.