1 38th Ct · Meridian, MS 39301

$125,000

3 bd · 1.0 ba · 2,050 sqft · SingleFamily public records · 45 Days on market

Built 1972 0.35 ac lot $61/sqft · 24% above area Est $101k · 24% over

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Why this score? — see what drove the C- 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming and full of potential, this 3 bedroom, 1 bath home sits proudly on a desirable corner lot in a great neighborhood. It offers extra space with the long driveway with lots of room for parking. A new roof provides peace of mind and long term value making it a smart choice for an investor or homeowner. Call your favorite Realtor today to see it.

Key facts

• 0.35 acre lot
• Built 1972
• Listed 45 days

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Driveway
• Security:
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence (house); One story
• Construction: Brick veneer exterior; Slab foundation; Built (year source: public records)
• Exterior features: Architectural shingle roof; Lot approximately 0.35 acres

Interior

• Kitchen: Electric range
• Bedrooms:
• Flooring:
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling; Has heating and cooling
• Interior features: Electric range
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% 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; lower-income renter base — watch delinquency; 18 units permitted in Lauderdale County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.23% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 6.8

CMA / ARV

• ARV (median comp): $101,102
• List price: $125,000
• Delta: 23.64%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,120
• Equity at exit: $18,638

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $28,596
• Equity at exit: $10,808

Cash invested: $35,000 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$175 /mo · $2,097/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $335

Break-even live

Break-even rent $1,117

Max offer price $125,000

Occupancy floor 73%

Sensitivity live

Price	-10% $406	-5% $370	+0% $335	+5% $300	+10% $264
Rent	-10% $213	-5% $274	+0% $335	+5% $396	+10% $457
Rate	-1.0pp $398	-0.5pp $367	base $335	+0.5pp $303	+1.0pp $270

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-12
   days on market $125,000 Active 45 DOM
2. 2026-06-09
   days on market $125,000 Active 42 DOM
3. 2026-06-08
   days on market $125,000 Active 41 DOM
4. 2026-06-07
   days on market $125,000 Active 40 DOM
5. 2026-06-02
   days on market $125,000 Active 35 DOM
6. 2026-06-01
   days on market $125,000 Active 34 DOM
7. 2026-05-31
   days on market $125,000 Active 33 DOM
8. 2026-05-30
   days on market $125,000 Active 32 DOM
9. 2026-04-25
   listed $125,000 Active 355-char remark

ⓘ 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: $2,097 · $175/mo
• Projected year-2 tax: $2,097 · $175/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 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: $18,493
• − Mortgage interest: −$7,002
• − Property taxes: −$2,097
• − Insurance: −$625
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$3,636
• Taxable income: $2,173
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $3,499/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

2 events — show timeline

• 2026-06-12 Listing Removed — MLSU
• 2026-04-25 Listed $125,000 MLSU

Property tax history

+2.4%/yr

Latest (2025): $2,097 · +0.1% YoY. Source: county tax records.