1004 Spengler St · Jackson, MS 39202

$85,000

3 bd · 2.0 ba · 1,385 sqft · SingleFamily public records · 311 Days on market

Built 1939 7,405 sqft lot $61/sqft · 27% below area Est $120k · 29% under ↓ 29% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Reduced - Now $85,000! Great investment opportunity! 3-bedroom, 2-bath home located in Jackson offering strong rental potential and long-term value. Property will be available soon for showings and is ideal for investors or first-time buyers looking to live near the downtown area. Conveniently located with easy access to shopping, dining, and major roadways. Showing Instructions: Schedule through showing service. Proof of funds or pre-approval letter required with all offers. Don't miss this opportunity—submit your offer today.

Key facts

• Central hvac
• Curbside parking
• Steps from shopping

Tags

• CENTRAL HVAC
• FUNCTIONAL LAYOUT
• CURBSIDE PARKING
• STEPS FROM SHOPPING
• STEPS FROM DINING
• STEPS FROM ENTERTAINMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 9.9% in Jackson — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#66 in MS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• Jackson Public School District (urban): math 9% / reading 18% proficiency, ranked #112 of 130 in MS (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.9%/yr); 40 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($39k/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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hinds County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 311 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 1939 — 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 F-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: 1.52% ✓
• Cap rate: 13.07%
• Cash-on-cash: 24.22%
• DSCR: 2.08
• GRM: 5.5

CMA / ARV

• ARV (median comp): $119,511
• List price: $85,000
• Delta: -28.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
908 Madison St	0.35mi	3/2.0	1,438 (+4%)	7mo	$219,900	$153	71
1054 Madison St	0.49mi	3/2.0	1,492 (+8%)	4mo	$144,000	$97	61
1017 Riverview Dr	0.25mi	2/1.0 (-1)	1,208 (-13%)	21mo	$56,000	$46	41
1228 Monroe St	0.73mi	2/2.0 (-1)	1,318 (-5%)	17mo	$172,000	$131	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.91% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.87×
• Total profit: $20,692
• Equity at exit: $12,674

10-year hold

• IRR: 30.6%
• Equity multiple: 4.12×
• Total profit: $74,297
• Equity at exit: $7,349

Cash invested: $23,800 (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 39202

• Home prices YoY: -23.3%
• Rents YoY: 5.9%
• Active inventory: 40
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,290 high
• Mortgage (P&I): −$446
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $480

Break-even live

Break-even rent $682

Max offer price $85,000

Occupancy floor 58%

Sensitivity live

Price	-10% $528	-5% $504	+0% $480	+5% $456	+10% $432
Rent	-10% $378	-5% $429	+0% $480	+5% $531	+10% $582
Rate	-1.0pp $523	-0.5pp $502	base $480	+0.5pp $458	+1.0pp $436

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 N Jefferson St Jackson, MS	1.0–2.0	1.0–2.0	880	$1,099	$1.25	15d	4	0.23mi
836 Riverview Dr Jackson, MS	2.0	1.5	945	$1,095	$1.16	24d	1	0.32mi
949 Morningside St Jackson, MS	2.0	1.0	900	$965	$1.07	24d	1	0.40mi
910 Morningside St Jackson, MS	3.0	2.5	1400	$1,395	$1.00	44d	1	0.42mi
950 North St Jackson, MS	2.0	1.0	1000	$1,295	$1.29	15d	1	0.44mi
1202 E Fortification St Jackson, MS	2.0	1.0	1225	$1,150	$0.94	24d	1	0.59mi
1119 Manship St Jackson, MS	2.0	2.0	1587	$2,200	$1.39	15d	1	0.69mi
1140 Greymont Ave Unit C13 Jackson, MS	2.0	2.0	1050	$1,250	$1.19	44d	1	0.72mi
1140 Greymont Ave Jackson, MS	1.0–2.0	1.0–2.0	835	$1,250	$1.50	15d	6	0.72mi
1710 N State St Jackson, MS	2.0	2.0	1800	$2,450	$1.36	24d	1	1.17mi
1225 Bailey Ave Jackson, MS	2.0	1.0	990	$750	$0.76	44d	1	1.38mi
209 Poindexter St Jackson, MS	2.0	2.0	1075	$825	$0.77	44d	1	1.43mi

Listing history 39 events

1. 2026-06-18
   days on market $85,000 Active 311 DOM
2. 2026-06-17
   status $85,000 Active 310 DOM
3. 2026-04-20
   price $85,000 549-char remark

   Show marketing remark (549 chars)

   Price Reduced - Now $85,000! Great investment opportunity! 3-bedroom, 2-bath home located in Jackson offering strong rental potential and long-term value. Property will be available soon for showings and is ideal for investors or first-time buyers looking to live near the downtown area. Conveniently located with easy access to shopping, dining, and major roadways. Showing Instructions: Schedule through showing service. Proof of funds or pre-approval letter required with all offers. Don't miss this opportunity—submit your offer today.

4. 2025-08-23
   price $87,100 549-char remark

   Show marketing remark (549 chars)

   Price Reduced - Now $85,000! Great investment opportunity! 3-bedroom, 2-bath home located in Jackson offering strong rental potential and long-term value. Property will be available soon for showings and is ideal for investors or first-time buyers looking to live near the downtown area. Conveniently located with easy access to shopping, dining, and major roadways. Showing Instructions: Schedule through showing service. Proof of funds or pre-approval letter required with all offers. Don't miss this opportunity—submit your offer today.

5. 2025-07-18
   listed $89,600 Active 549-char remark

   Show marketing remark (549 chars)

   Price Reduced - Now $85,000! Great investment opportunity! 3-bedroom, 2-bath home located in Jackson offering strong rental potential and long-term value. Property will be available soon for showings and is ideal for investors or first-time buyers looking to live near the downtown area. Conveniently located with easy access to shopping, dining, and major roadways. Showing Instructions: Schedule through showing service. Proof of funds or pre-approval letter required with all offers. Don't miss this opportunity—submit your offer today.

6. 2025-05-12
   price $89,000
7. 2025-03-18
   price $94,000
8. 2025-02-21
   status Active
9. 2025-02-21
   price $99,000
10. 2024-11-19
    historical $1,200
11. 2024-11-06
    price $1,200
12. 2024-10-29
    price $1,350
13. 2024-10-23
    listed $1,600
14. 2024-10-21
    historical
15. 2024-10-16
    status Active
16. 2024-05-10
    status Pending
17. 2024-05-10
    historical
18. 2024-04-19
    price $94,000
19. 2024-04-14
    price $96,000
20. 2024-04-05
    price $98,000
21. 2024-03-28
    price $99,500
22. 2024-03-21
    price $105,000
23. 2024-03-04
    status Active
24. 2024-02-16
    status Pending
25. 2024-02-08
    listed $110,000 Active
26. 2023-06-29
    soldstatus
27. 2022-09-07
    historical
28. 2022-08-16
    price $89,900
29. 2022-08-16
    status Active
30. 2022-08-14
    status Pending
31. 2022-07-27
    price $94,900
32. 2022-07-05
    price $99,500
33. 2022-06-15
    price $109,000
34. 2022-06-04
    price $115,000
35. 2022-05-11
    listed $120,000 Active
36. 2020-11-18
    soldstatus
37. 2004-09-14
    soldstatus
38. 1998-06-25
    soldstatus
39. 1996-01-26
    soldstatus

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $691 · $58/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 1/10 Low
• 🌡 Heat 7/10 Severe 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: $15,479
• − Mortgage interest: −$4,761
• − Property taxes: −$691
• − Insurance: −$425
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$2,473
• Taxable income: $4,652
• Est. tax owed @ 24.0%: −$1,117
• After-tax cash flow: $4,647/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: Jackson Public School District
• NCES district ID: 2802190
• Math proficiency: 9% ▼ -14.00%
• Reading proficiency: 18% ▼ -7.00%
• Median HH income: $33,234
• Composite: 10.89/100
• National rank: #9755
• State rank: #112 of 130 in MS

Livability — Jackson

• Score: 68/100
• State rank: #66
• US rank: #9695

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment F Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, MS
• County: Hinds County · 167,040 people
• City population: 140,204
• Metro: Jackson, MS
• Population (ZIP): 6,832
• Household income: $38,554
• Rent vs Own: 67.5% rent · 32.5% own
• Severe rent burden: 628.0

Population outlook (Hinds County) Hauer SSP2

• Today (2025): 242,528 people
• By 2030: 241,113 · -0.6%
• By 2040: 235,557 · -2.9%
• By 2050: 226,946 · -6.4%
• By 2075: 199,995 · -17.5%
• By 2100: 164,165 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (54%)
• Race & ethnicity: Black 54% White 41% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Hinds

• 2024 margin: Solid D (+46.1) · D 72.4% · R 26.3% · Other 1.4%
• 2008→2024 swing: +7.1pp toward D · 2008: 39.0pp · 2024: 46.1pp
• All cycles: 2024: D+46.1 2020: D+48.3 2016: D+43.7 2012: D+45.1 2008: D+39.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.29%
• Current HPI: 145.4466
• Rent YoY: ▲ 5.91%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-29.2% since first listed

37 events — show timeline

• 2026-04-20 Price Changed $85,000 MLSU
• 2025-08-23 Price Changed $87,100 MLSU
• 2025-07-18 Listed $89,600 MLSU
• 2025-05-12 Price Changed $89,000 MLSU
• 2025-03-18 Price Changed $94,000 MLSU
• 2025-02-21 Relisted — MLSU
• 2025-02-21 Price Changed $99,000 MLSU
• 2024-11-19 Rental Removed $1,200 TURBOTENANT
• 2024-11-06 Price Changed $1,200 TURBOTENANT
• 2024-10-29 Price Changed $1,350 TURBOTENANT
• 2024-10-23 Listed for Rent $1,600 TURBOTENANT
• 2024-10-21 Listing Removed — MLSU
• 2024-10-16 Relisted — MLSU
• 2024-05-10 Pending — MLSU
• 2024-05-10 Listing Removed — MLSU
• 2024-04-19 Price Changed $94,000 MLSU
• 2024-04-14 Price Changed $96,000 MLSU
• 2024-04-05 Price Changed $98,000 MLSU
• 2024-03-28 Price Changed $99,500 MLSU
• 2024-03-21 Price Changed $105,000 MLSU
• 2024-03-04 Relisted — MLSU
• 2024-02-16 Pending — MLSU
• 2024-02-08 Listed $110,000 MLSU
• 2023-06-29 Sold (Public Records) — Public Records
• 2022-09-07 Listing Removed — MLSU
• 2022-08-16 Price Changed $89,900 MLSU
• 2022-08-16 Relisted — MLSU
• 2022-08-14 Pending — MLSU
• 2022-07-27 Price Changed $94,900 MLSU
• 2022-07-05 Price Changed $99,500 MLSU
• 2022-06-15 Price Changed $109,000 MLSU
• 2022-06-04 Price Changed $115,000 MLSU
• 2022-05-11 Listed $120,000 MLSU
• 2020-11-18 Sold (Public Records) — Public Records
• 2004-09-14 Sold (Public Records) — Public Records
• 1998-06-25 Sold (Public Records) — Public Records
• 1996-01-26 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2025): $691 · +0.5% YoY. Source: county tax records.