2108 24th Ave · Meridian, MS 39301

$59,000

2 bd · 1.0 ba · 1,234 sqft · Other public records · 30 Days on market

Built 1937

---

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

Listing remarks

This can be an office a two or three bedroom home. Great location with lots of potential.

Key facts

• 2 garage spots
• Built 1937
• Listed 29 days

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; 1 story
• Construction: Asbestos construction material
• Exterior features: Storage structure

Interior

• Kitchen: Electric range; Refrigerator; Garbage disposal
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Hot water heating; Fireplace insert; Central air conditioning
• Interior features: Disposal; Gas water heater; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $58k (1.5% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 18 units permitted in Lauderdale County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,115 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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. 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.
5. 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.
6. 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: 2.10% ✓
• Cap rate: 17.48%
• Cash-on-cash: 39.96%
• DSCR: 2.78
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 36.3%
• Equity multiple: 2.54×
• Total profit: $25,509
• Equity at exit: $8,797

10-year hold

• IRR: 43.0%
• Equity multiple: 5.08×
• Total profit: $67,461
• Equity at exit: $5,101

Cash invested: $16,520 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,241 high
• Mortgage (P&I): −$309
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $550

Break-even live

Break-even rent $545

Max offer price $59,000

Occupancy floor 51%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.46mi
1105 6th St Meridian, MS	2.0	1.0	750	$950	$1.27	43d	1	1.05mi
1111 6th St Meridian, MS	2.0	1.0	750	$1,200	$1.60	43d	1	1.05mi
513 11th Ave Meridian, MS	2.0	1.0	850	$950	$1.12	43d	1	1.06mi
501 11th Ave Meridian, MS	2.0	1.0	750	$950	$1.27	43d	1	1.07mi
3915 30th Ave Unit 1 Meridian, MS	2.0	1.0	700	$900	$1.29	43d	1	1.36mi

Listing history 21 events

1. 2026-06-19
   days on market $59,000 Active 30 DOM
2. 2026-06-18
   days on market $59,000 Active 29 DOM
3. 2026-06-17
   days on market $59,000 Active 28 DOM
4. 2026-06-16
   days on market $59,000 Active 27 DOM
5. 2026-06-15
   days on market $59,000 Active 26 DOM
6. 2026-06-14
   days on market $59,000 Active 24 DOM
7. 2026-06-12
   days on market $59,000 Active 23 DOM
8. 2026-06-09
   days on market $59,000 Active 20 DOM
9. 2026-06-08
   days on market $59,000 Active 19 DOM
10. 2026-06-07
    days on market $59,000 Active 18 DOM
11. 2026-06-02
    days on market $59,000 Active 13 DOM
12. 2026-06-01
    days on market $59,000 Active 12 DOM
13. 2026-05-31
    days on market $59,000 Active 11 DOM
14. 2026-05-30
    days on market $59,000 Active 10 DOM
15. 2026-05-20
    listed $59,000 Active
16. 2025-02-04
    listed $79,000 Active
17. 2024-08-01
    status Active
18. 2024-06-27
    price $79,000
19. 2024-02-03
    listed $85,000 Active
20. 2023-06-16
    historical
21. 2017-03-27
    listed $29,900

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,159 · $97/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

• 🌡 Heat 7/10 Severe
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,896
• − Mortgage interest: −$3,305
• − Property taxes: −$1,159
• − Insurance: −$295
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$1,716
• Taxable income: $6,038
• Est. tax owed @ 24.0%: −$1,449
• After-tax cash flow: $5,152/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

+97.3% since first listed

7 events — show timeline

• 2026-05-20 Listed $59,000 EMR
• 2025-02-04 Listed $79,000 EMR
• 2024-08-01 Relisted — EMR
• 2024-06-27 Price Changed $79,000 EMR
• 2024-02-03 Listed $85,000 EMR
• 2023-06-16 Delisted — EMR
• 2017-03-27 Listed $29,900 EMR

Property tax history

+20.5%/yr

Latest (2018): $1,159 · +97.4% YoY. Source: county tax records.