GRENADA, MS 38901

79 Middle Rd, Grenada, MS 38901 Asking: $140,000

Property details:

• 3 bedrooms, 2 bathrooms, about 2,228 sq ft
• 2.2-acre lot, in town
• Built around 1955 (per the seller)
• Utilities: city water and sewer (City of Grenada), Entergy electric, Atlas gas
• No HOA
• About 2 miles from Grenada Lake and a quarter mile from a school
• The seller reports no known flooding (in the home over 70 years), termites, or lead paint

Features:

• Central HVAC is out, and the home is currently cooled with window units. The existing ductwork may allow a new system to be installed (verify on site).
• Exterior paint
• Siding is incomplete in places, and some soffit and fascia boards are rotted
• Interior paint and a cosmetic refresh

• Asking price: $140,000
• After-repair value: up to $245k (about $110 per sq ft after a full rehab)
• Estimated rehab: as low as about $30k
• All-in cost: about $170k, for a potential spread of about $75k
• Comps: 649 Old Hickory Rd sold for $219k (2,492 sq ft). 276 Salem Church Rd was last listed at $255k (3 acres, 2-car garage).
• Possible exits: flip, buy and hold, or a BRRRR (buy, rehab, rent, refinance, repeat), with possible upside if the acreage can be subdivided (check zoning)

Access and Terms:

• Vacant at closing
• Contact for showings, occupied