371 S College St · Grenada, MS 38901

$138,900

2 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 6 Days on market

Built 1940 8,712 sqft lot ↓ 17% 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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Grenada Charm with Income Potential OR Multi-Generational Living! Whether you're looking for an investment opportunity or a spacious family home, this unique property offers endless possibilities! The upstairs features separate living quarters with a private entrance - perfect for extended family, a college student, guests, or potential rental income. Relax on the large front porch, ideal for morning coffee & peaceful evenings. The main level offers 3 bedrooms & 1 bath, along with a beautifully updated kitchen featuring modern cabinetry, granite countertops, stainless steel appliances. Just off the kitchen is a laundry room with washer & dryer that remain. Gorgeous hardwoo

Key facts

• Large front porch
• Private entrance
• Updated kitchen

Tags

• MULTI-GENERATIONAL LIVING
• SEPARATE LIVING QUARTERS
• PRIVATE ENTRANCE
• LARGE FRONT PORCH
• UPDATED KITCHEN
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: Paved parking
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Aluminum siding; Composition roof
• Exterior features: Porch

Interior

• Kitchen: Microwave; Electric range; Refrigerator; Electric water heater
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ceiling fan(s); Has cooling
• Interior features: Microwave; Dryer; Electric range; Refrigerator; Washer; Electric water heater; Hardwood flooring; Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $67 ($805/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 (18.1% below list).
• Recommended offer: $114k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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+, amenities F, commute 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.
• Zoned schools: Grenada Elementary School (math 59% / reading 50%, grade C, #43 of 375 statewide, top 12%, 1,967 students, 100% FRL); Grenada Middle School (math 48% / reading 36%, grade D-, #49 of 179 statewide, top 29%, 834 students, 100% FRL); Grenada High (math 51% / reading 42%, grade D-, #32 of 197 statewide, top 16%, 1,063 students, 100% FRL) — zoned schools average 100% FRL vs 66% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $960 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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: built in 1940 — 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 $113,733 (18.1% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $53,664
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
354 Walthall St	0.54mi	3/2.0 (+1)	1,362 (+9%)	2mo	$59,000	$43	48

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-18,299
• Equity at exit: $20,710

10-year hold

• IRR: -4.2%
• Equity multiple: 0.73×
• Total profit: $-10,686
• Equity at exit: $12,010

Cash invested: $38,892 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$728
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $67

Break-even live

Break-even rent $1,052

Max offer price $138,900

Occupancy floor 89%

Sensitivity live

Price	-10% $146	-5% $106	+0% $67	+5% $28	+10% $-12
Rent	-10% $-23	-5% $22	+0% $67	+5% $112	+10% $157
Rate	-1.0pp $137	-0.5pp $102	base $67	+0.5pp $31	+1.0pp $-6

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: $34,725
• Closing costs: $4,167
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $138,900 Active 6 DOM
2. 2026-06-21
   days on market $138,900 Active 5 DOM
3. 2026-06-18
   days on market $138,900 Active 3 DOM
4. 2026-06-17
   days on market $138,900 Active 2 DOM
5. 2026-06-16
   days on marketlisting id $138,900 Active 1 DOM
6. 2026-06-15
   days on market $138,900 Active 8 DOM
7. 2026-06-13
   days on market $138,900 Active 6 DOM
8. 2026-06-12
   days on market $138,900 Active 5 DOM
9. 2026-06-09
   days on market $138,900 Active 2 DOM
10. 2026-06-07
    remarks 687-char remark
11. 2026-06-07
    listed $138,900 Active 1 DOM

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $1,097 · $91/mo
• Expected delta: +$555/yr (+$46/mo · 102.5%)

ⓘ 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: $13,648
• − Mortgage interest: −$7,781
• − Property taxes: −$542
• − Insurance: −$694
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$4,041
• Taxable loss: −$1,593
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $1,187/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

-17.3% since first listed

3 events — show timeline

• 2026-06-07 Listed $138,900 NCMBR
• 2024-07-23 Relisted — NCMBR
• 2023-11-28 Listed $168,000 NCMBR

Property tax history

+5.9%/yr

Latest (2025): $542 · +14.4% YoY. Source: county tax records.