947 Palm St · Jackson, MS 39212

$39,000

3 bd · 2.0 ba · 1,332 sqft · SingleFamily public records · 77 Days on market

Built 1964 0.47 ac lot $29/sqft · 30% below area Est $56k · 30% under ↓ 2% 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 +3.6/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Packed with potential, this property is ideal for investors or homeowners seeking a renovation project. Offered as-is, the home already features key updates completed by the current owner, including a new roof, partial electrical wiring, gutted interior, new tubs and tub/shower valves, new rear windows, and new siding on the rear exterior, providing a strong foundation to complete the remodel. Please complete all dye diligence before submitting an offer. Home is being sold as-is/where-is.

Key facts

• New rear windows
• New tubs
• New roof

Tags

• NEW ROOF
• PARTIAL ELECTRICAL WIRING
• GUTTED INTERIOR
• NEW TUBS
• NEW TUB SHOWER VALVES
• NEW REAR WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.7% 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 (+4.2%/yr); 302 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k 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 + 4.2% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y ago; this cycle's ask has dropped $16k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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: 3.10% ✓
• Cap rate: 26.69%
• Cash-on-cash: 72.85%
• DSCR: 4.24
• GRM: 2.7

CMA / ARV

• ARV (median comp): $55,619
• List price: $39,000
• Delta: -29.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
983 Branch St	0.20mi	3/2.0	1,252 (-6%)	4mo	$60,000	$48	78
1026 Branch St	0.25mi	3/2.0	1,236 (-7%)	3mo	$55,000	$44	74
1010 Deryll St	0.10mi	3/2.0	1,143 (-14%)	3mo	$49,900	$44	70
622 Chelsea Dr	0.66mi	3/2.0	1,342 (+1%)	2mo	$115,000	$86	66
1423 Woody Dr	0.48mi	3/1.5	1,404 (+5%)	2mo	$24,900	$18	65
3144 Fleetwood Dr	0.46mi	3/2.0	1,204 (-10%)	1mo	$59,900	$50	62
3114 Suncrest Dr	0.41mi	4/2.0 (+1)	1,432 (+8%)	3mo	$64,900	$45	61
3156 Woodview Dr	0.49mi	3/1.0	1,409 (+6%)	4mo	$65,000	$46	60
1340 Woody Dr	0.45mi	3/1.0	1,208 (-9%)	1mo	$59,900	$50	59
702 Cooper Rd	0.65mi	3/1.0	1,241 (-7%)	4mo	$91,000	$73	51
920 Woody Dr	0.66mi	3/2.0	1,468 (+10%)	2mo	$59,000	$40	51
1636 Smallwood St	0.63mi	2/1.0 (-1)	1,432 (+8%)	1mo	$17,000	$12	48

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 · 4.23% rent growth · sell at horizon

5-year hold

• IRR: 74.0%
• Equity multiple: 4.43×
• Total profit: $37,447
• Equity at exit: $5,815

10-year hold

• IRR: 78.2%
• Equity multiple: 9.56×
• Total profit: $93,475
• Equity at exit: $3,372

Cash invested: $10,920 (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 39212

• Home prices YoY: -11.7%
• Rents YoY: 4.2%
• Active inventory: 302
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,209 high
• Mortgage (P&I): −$205
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $663

Break-even live

Break-even rent $370

Max offer price $39,000

Occupancy floor 40%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 Deryll St Jackson, MS	3.0	2.0	1143	$1,050	$0.92	13d	1	0.08mi
1018 Deryll St Jackson, MS	3.0	1.0	1056	$900	$0.85	23d	1	0.10mi
3308 Ramona St Jackson, MS	3.0	1.0	1104	$1,150	$1.04	21d	1	0.15mi
1054 Deryll St Jackson, MS	3.0	1.5	1132	$1,050	$0.93	13d	1	0.17mi
3341 Suncrest Dr Jackson, MS	4.0	1.0	1292	$1,225	$0.95	43d	1	0.27mi
1219 Woody Dr Jackson, MS	3.0	1.0	1058	$1,150	$1.09	23d	1	0.43mi
3049 Lakewood Dr Jackson, MS	3.0	1.0	1200	$975	$0.81	43d	1	0.56mi
3162 Oak Forest Dr Jackson, MS	3.0	1.5	1280	$1,236	$0.97	43d	1	0.60mi
3020 Lakewood Dr Jackson, MS	4.0	2.0	1600	$1,150	$0.72	23d	1	0.63mi
3122 Oak Forest Dr Jackson, MS	3.0	2.0	1421	$1,100	$0.77	43d	1	0.64mi
2915 Longwood Dr Jackson, MS	3.0	2.0	1800	$1,400	$0.78	23d	1	0.68mi
2808 Ridgeland Dr Jackson, MS	3.0	2.0	1606	$1,600	$1.00	43d	1	0.70mi
3151 Shirley Dr Jackson, MS	4.0	2.0	1474	$1,306	$0.89	13d	1	0.71mi
2904 Marwood Dr Jackson, MS	3.0	2.0	1554	$1,250	$0.80	23d	1	0.73mi
3030 Oak Forest Dr Jackson, MS	3.0	2.0	1200	$1,100	$0.92	13d	1	0.74mi
3030 Oak Forest Dr Jackson, MS	3.0	1.5	1200	$1,100	$0.92	43d	1	0.74mi
1223 Marydale Dr Jackson, MS	3.0	1.0	1300	$950	$0.73	43d	1	0.92mi
2873 Teresa Dr Jackson, MS	3.0	1.0	1100	$1,100	$1.00	43d	1	1.00mi
103 Sykes Park Cir Jackson, MS	3.0	2.0	1500	$1,250	$0.83	43d	1	1.00mi
3511 Sykes Park Dr Jackson, MS	3.0	2.0	1225	$1,426	$1.16	13d	1	1.03mi
427 McDowell Park Cir Jackson, MS	3.0	1.5	1308	$1,200	$0.92	13d	1	1.05mi
3147 Bilgray Dr Jackson, MS	3.0	2.0	1850	$1,306	$0.71	43d	1	1.11mi
3152 Bilgray Dr Jackson, MS	3.0	1.5	1200	$1,100	$0.92	13d	1	1.13mi
2729 Carleton St Jackson, MS	4.0	2.0	1666	$1,575	$0.95	13d	1	1.22mi
422 Cooper Rd Jackson, MS	3.0	1.0	1049	$1,426	$1.36	23d	1	1.24mi
2732 Woodside Dr Jackson, MS	4.0	2.0	1566	$1,050	$0.67	23d	1	1.26mi
1126 Barbara Ann Dr Jackson, MS	3.0	1.0	1343	$1,000	$0.74	13d	1	1.30mi
1126 Barbara Ann Dr Jackson, MS	3.0	1.0	1343	$1,000	$0.74	43d	1	1.30mi
360 Cooper Rd Jackson, MS	4.0	2.0	1624	$1,575	$0.97	13d	1	1.31mi
2694 Woodside Dr Jackson, MS	3.0	1.0	1509	$1,075	$0.71	13d	1	1.32mi
2694 Woodside Dr Jackson, MS	3.0	1.0	1509	$1,075	$0.71	23d	1	1.32mi
1513 Maria Dr Jackson, MS	3.0	2.0	1120	$1,200	$1.07	13d	1	1.33mi
1513 Maria Dr Jackson, MS	3.0	2.0	1120	$1,200	$1.07	23d	1	1.33mi
2786 Brookwood Dr Jackson, MS	3.0	1.0	1003	$1,100	$1.10	43d	1	1.39mi
270 Wildwood Ct Jackson, MS	3.0	1.0	1200	$1,200	$1.00	21d	1	1.43mi

Listing history 37 events

1. 2026-06-18
   days on market $39,000 Active 77 DOM
2. 2026-06-17
   days on market $39,000 Active 76 DOM
3. 2026-06-16
   days on market $39,000 Active 75 DOM
4. 2026-06-15
   days on market $39,000 Active 74 DOM
5. 2026-06-14
   days on market $39,000 Active 72 DOM
6. 2026-06-13
   days on market $39,000 Active 71 DOM
7. 2026-05-31
   days on market $39,000 Active 104 DOM
8. 2026-05-30
   days on market $39,000 Active 103 DOM
9. 2026-04-27
   price $39,000 493-char remark

   Show marketing remark (493 chars)

   Packed with potential, this property is ideal for investors or homeowners seeking a renovation project. Offered as-is, the home already features key updates completed by the current owner, including a new roof, partial electrical wiring, gutted interior, new tubs and tub/shower valves, new rear windows, and new siding on the rear exterior, providing a strong foundation to complete the remodel. Please complete all dye diligence before submitting an offer. Home is being sold as-is/where-is.

10. 2026-04-27
    status Active 493-char remark

    Show marketing remark (493 chars)

    Packed with potential, this property is ideal for investors or homeowners seeking a renovation project. Offered as-is, the home already features key updates completed by the current owner, including a new roof, partial electrical wiring, gutted interior, new tubs and tub/shower valves, new rear windows, and new siding on the rear exterior, providing a strong foundation to complete the remodel. Please complete all dye diligence before submitting an offer. Home is being sold as-is/where-is.

11. 2026-04-20
    status Pending 493-char remark

    Show marketing remark (493 chars)

    Packed with potential, this property is ideal for investors or homeowners seeking a renovation project. Offered as-is, the home already features key updates completed by the current owner, including a new roof, partial electrical wiring, gutted interior, new tubs and tub/shower valves, new rear windows, and new siding on the rear exterior, providing a strong foundation to complete the remodel. Please complete all dye diligence before submitting an offer. Home is being sold as-is/where-is.

12. 2026-02-28
    price $49,000 493-char remark

    Show marketing remark (493 chars)

    Packed with potential, this property is ideal for investors or homeowners seeking a renovation project. Offered as-is, the home already features key updates completed by the current owner, including a new roof, partial electrical wiring, gutted interior, new tubs and tub/shower valves, new rear windows, and new siding on the rear exterior, providing a strong foundation to complete the remodel. Please complete all dye diligence before submitting an offer. Home is being sold as-is/where-is.

13. 2026-02-09
    listed $55,000 Active 493-char remark

    Show marketing remark (493 chars)

    Packed with potential, this property is ideal for investors or homeowners seeking a renovation project. Offered as-is, the home already features key updates completed by the current owner, including a new roof, partial electrical wiring, gutted interior, new tubs and tub/shower valves, new rear windows, and new siding on the rear exterior, providing a strong foundation to complete the remodel. Please complete all dye diligence before submitting an offer. Home is being sold as-is/where-is.

14. 2024-11-17
    historical
15. 2024-10-10
    status Active
16. 2024-10-03
    status Pending
17. 2024-09-30
    status Active
18. 2024-09-05
    status Pending
19. 2024-08-27
    listed $20,000 Active
20. 2021-10-01
    historical
21. 2019-08-30
    soldstatus
22. 2019-08-27
    soldstatus
23. 2019-01-07
    listed $11,900
24. 2019-01-03
    historical
25. 2019-01-03
    historical
26. 2018-12-29
    listed $34,900
27. 2018-12-28
    listed $34,900
28. 2018-12-11
    soldstatus
29. 2005-05-06
    soldstatus
30. 2005-02-19
    listed $84,900
31. 2003-06-16
    soldstatus
32. 2003-05-02
    soldstatus
33. 2003-03-31
    listed $39,900
34. 1999-11-30
    soldstatus
35. 1998-12-28
    soldstatus
36. 1997-07-03
    soldstatus
37. 1996-01-05
    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: $854 · $71/mo
• Projected year-2 tax: $854 · $71/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 · 18 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: $14,504
• − Mortgage interest: −$2,185
• − Property taxes: −$854
• − Insurance: −$195
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$1,135
• Taxable income: $7,815
• Est. tax owed @ 24.0%: −$1,876
• After-tax cash flow: $6,079/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): 25,659
• Household income: $50,722
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1314.0

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: Predominantly Black (86%)
• Race & ethnicity: Black 86% White 9% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% 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: ▼ -23.01%
• Current HPI: 174.4025
• Rent YoY: ▲ 4.23%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-2.3% since first listed

29 events — show timeline

• 2026-04-27 Price Changed $39,000 MLSU
• 2026-04-27 Relisted — MLSU
• 2026-04-20 Pending — MLSU
• 2026-02-28 Price Changed $49,000 MLSU
• 2026-02-09 Listed $55,000 MLSU
• 2024-11-17 Listing Removed — MLSU
• 2024-10-10 Relisted — MLSU
• 2024-10-03 Pending — MLSU
• 2024-09-30 Relisted — MLSU
• 2024-09-05 Pending — MLSU
• 2024-08-27 Listed $20,000 MLSU
• 2021-10-01 Listing Removed — MLSU
• 2019-08-30 Sold (MLS) — MLSU
• 2019-08-27 Sold (Public Records) — Public Records
• 2019-01-07 Listed $11,900 MLSU
• 2019-01-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2019-01-03 Listing Removed — MLSU
• 2018-12-29 Listed $34,900 Stellar MLS as Distributed by MLS Grid
• 2018-12-28 Listed $34,900 MLSU
• 2018-12-11 Sold (Public Records) — Public Records
• 2005-05-06 Sold (Public Records) — Public Records
• 2005-02-19 Listed $84,900 MLSU
• 2003-06-16 Sold (Public Records) — Public Records
• 2003-05-02 Sold (MLS) — MLSU
• 2003-03-31 Listed $39,900 MLSU
• 1999-11-30 Sold (Public Records) — Public Records
• 1998-12-28 Sold (Public Records) — Public Records
• 1997-07-03 Sold (Public Records) — Public Records
• 1996-01-05 Sold (Public Records) — Public Records

Property tax history

-3.9%/yr

Latest (2025): $854 · +2.0% YoY. Source: county tax records.