affordable house under 150K in Laurel Mississippi
$
135,000
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Laurel, Mississippi
513 W 16th St
2
Beds
2
Baths
1523
Sq Ft
1924
Built

Historic, Garage, Fireplace, Character Home

1924 Laurel Hill Home with Fireplace, Garage, and Fenced Yard — $135,000

6

out of 10

HousesUnder150K Score

Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%

CategoryWt.ScoreDetail
Property Merit50%71924 historic, fireplace, formal dining, den, garage, shed, fenced yard, hill setting
Condition25%7Agent says move-in ready, very good condition; no system dates named, cosmetic updates implied
Price / Sq Ft15%7Listing $89/sqft vs zip median $114/sqft (~22% below); 1 comp, directional only
Price vs. Market5%6$135K vs $169,450 median — about 20% below zip median sale price
Market Conditions5%742.7% price drops and 94% sale-to-list signal clear buyer's market; DOM 56 days

The price is what stops you first. At $135,000 in a zip where homes have been selling closer to $170,000, this 1924 house is priced roughly 20 percent below the median. That gap is real and wide enough to matter, especially in a buyer's market where nearly half of active listings have already taken price cuts.

What you get for that number is 1,523 square feet built a hundred years ago, on a hill, with a fenced yard, a garage, and a storage shed. The lot runs about a third of an acre. There is a working fireplace in the living room, a formal dining room, and a separate den, which means the layout has actual rooms with walls between them rather than one undivided space doing everything at once. For two people or a small family, there is room to spread out and still have a dedicated place to eat dinner at a table.

The 1924 construction is either a draw or a flag depending on what you want. The woodwork, the proportions, the fireplace, the way older houses tend to hold their shape through a century of weather, all of that is in your favor. What you cannot verify from the listing is when the systems were last updated. No dates are named for the roof, the HVAC, or the electrical. The agent calls it move-in ready and in very good condition, which may be accurate, but you would want an inspector to confirm it before you take that on faith. Cosmetic work is one budget. Mechanical work is another.

The hill setting gives it some physical presence. A fenced yard with a garage and a shed behind a 100-year-old house in a market with soft prices and flexible sellers is a lot of property for the money. Whether you want to live in it as it stands or freshen it up over time, the price at $89 per square foot gives you room to do either without starting underwater.

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