4393 County Road 470 · Meridian, MS 39301

$70,000

3 bd · 1.0 ba · 1,215 sqft · SingleFamily public records · 210 Days on market

Built 1940 1.00 ac lot

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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
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling All Investors! This charming country cottage is a perfect opportunity for your next project! Nestled on a quaint 1+/- acre hilltop in Enterprise, this home offers ample space for renovation and expansion. Key Features: -3 Oversized Bedrooms: Plenty of room for family and guests. -2 Potential Bathrooms: Customize the layout to fit your vision. -Original Hardwood Details: Features include shiplap walls, solid beadboard panels, and heart pine and oak floors, adding character and charm. -Solid Panel Doors: A touch of classic style throughout. This property is a blank canvas waiting for your creative touch. Embrace the adventure and make this cottage your own! Note: Home is being sold AS IS. Don't miss out on this unique investment opportunity! Seller will consider selling home as a package deal with MLS# 4132067, 112 CR 662, Quitman, MS. 39355

Key facts

• 1 acre hilltop
• Country cottage
• Solid panel doors

Tags

• COUNTRY COTTAGE
• 1 ACRE HILLTOP
• ORIGINAL HARDWOOD DETAILS
• SOLID PANEL DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (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.
• Enterprise School District (rural): math 58% / reading 50% proficiency, ranked #5 of 130 in MS (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 54 active listings in the ZIP; lower-income renter base — watch delinquency.
• This rent runs 42% 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clarke County population projected at -24% 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.
• Current owner paid $40k; list at $70k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 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 1940 — 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 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: 2.09% ✓
• Cap rate: 17.75%
• Cash-on-cash: 40.93%
• DSCR: 2.82
• 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: 37.4%
• Equity multiple: 2.59×
• Total profit: $31,258
• Equity at exit: $10,437

10-year hold

• IRR: 44.0%
• Equity multiple: 5.19×
• Total profit: $82,143
• Equity at exit: $6,052

Cash invested: $19,600 (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 39301

• Active inventory: 54
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,464 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$92 /mo · $1,103/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $668

Break-even live

Break-even rent $618

Max offer price $70,000

Occupancy floor 49%

Sensitivity live

Price	-10% $708	-5% $688	+0% $668	+5% $649	+10% $629
Rent	-10% $553	-5% $611	+0% $668	+5% $726	+10% $784
Rate	-1.0pp $704	-0.5pp $686	base $668	+0.5pp $650	+1.0pp $632

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $70,000 Active 210 DOM
2. 2026-06-18
   days on market $70,000 Active 209 DOM
3. 2026-06-17
   days on market $70,000 Active 208 DOM
4. 2026-06-16
   days on market $70,000 Active 207 DOM
5. 2026-06-15
   days on market $70,000 Active 206 DOM
6. 2026-06-14
   days on market $70,000 Active 204 DOM
7. 2026-06-12
   days on market $70,000 Active 203 DOM
8. 2026-06-09
   days on market $70,000 Active 200 DOM
9. 2026-06-08
   days on market $70,000 Active 199 DOM
10. 2026-06-07
    days on market $70,000 Active 198 DOM
11. 2026-06-05
    days on market $70,000 Active 195 DOM
12. 2026-06-03
    days on market $70,000 Active 194 DOM
13. 2026-06-02
    days on market $70,000 Active 193 DOM
14. 2026-06-01
    days on market $70,000 Active 192 DOM
15. 2026-05-31
    days on market $70,000 Active 191 DOM
16. 2026-05-30
    days on market $70,000 Active 190 DOM
17. 2025-11-21
    listed $70,000 Active 862-char remark

    Show marketing remark (862 chars)

    Calling All Investors! This charming country cottage is a perfect opportunity for your next project! Nestled on a quaint 1+/- acre hilltop in Enterprise, this home offers ample space for renovation and expansion. Key Features: -3 Oversized Bedrooms: Plenty of room for family and guests. -2 Potential Bathrooms: Customize the layout to fit your vision. -Original Hardwood Details: Features include shiplap walls, solid beadboard panels, and heart pine and oak floors, adding character and charm. -Solid Panel Doors: A touch of classic style throughout. This property is a blank canvas waiting for your creative touch. Embrace the adventure and make this cottage your own! Note: Home is being sold AS IS. Don't miss out on this unique investment opportunity! Seller will consider selling home as a package deal with MLS# 4132067, 112 CR 662, Quitman, MS. 39355

18. 2025-06-06
    historical
19. 2025-06-02
    price $70,000
20. 2025-02-24
    price $68,000
21. 2024-10-24
    listed $75,000 Active
22. 2023-08-23
    soldstatus $39,500
23. 1999-07-15
    soldstatus $39,500

ⓘ 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: $1,103 · $92/mo
• Projected year-2 tax: $1,103 · $92/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 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: $17,569
• − Mortgage interest: −$3,921
• − Property taxes: −$1,103
• − Insurance: −$350
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − Depreciation: −$2,036
• Taxable income: $7,348
• Est. tax owed @ 24.0%: −$1,763
• After-tax cash flow: $6,258/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: Enterprise School District
• NCES district ID: 2801440
• Math proficiency: 58% ▼ -12.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $46,972
• Composite: 45.85/100
• National rank: #2553
• State rank: #5 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

• 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 (Clarke County) Hauer SSP2

• Today (2025): 14,792 people
• By 2030: 14,085 · -4.8%
• By 2040: 12,619 · -14.7%
• By 2050: 11,225 · -24.1%
• By 2075: 8,511 · -42.5%
• By 2100: 6,820 · -53.9%

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 · Clarke

• 2024 margin: Solid R (+35.2) · D 32.1% · R 67.3%
• 2008→2024 swing: -10.1pp toward R · 2008: -25.1pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+30.9 2016: R+32.8 2012: R+23.9 2008: R+25.1

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

+77.2% since first listed

7 events — show timeline

• 2025-11-21 Listed $70,000 MLSU
• 2025-06-06 Listing Removed — MLSU
• 2025-06-02 Price Changed $70,000 MLSU
• 2025-02-24 Price Changed $68,000 MLSU
• 2024-10-24 Listed $75,000 MLSU
• 2023-08-23 Sold (Public Records) $39,500 Public Records
• 1999-07-15 Sold (Public Records) $39,500 Public Records

Property tax history

+9.6%/yr

Latest (2025): $1,103 · -8.1% YoY. Source: county tax records.