203 Phillips St · Jackson, TN 38301

$145,000

3 bd · 2.0 ba · 1,498 sqft · SingleFamily public records · 12 Days on market

Built 2006 0.25 ac lot Est $201k · 28% under

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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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Rent growth +3.8/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous 3 bedroom, 2 bathroom home with updates such as new paint. This home also has a spacious great room.

Key facts

• 0.25 acre lot
• Built 2006
• Listed 11 days

Property features AI

Exterior

• Parking: No designated covered parking listed; No total parking spaces listed
• Utilities: Public water; Public sewer; Water available
• Home design: Single-family residence; One story; Living area about 1,498 square feet
• Construction: Vinyl siding; Shingle roof; Slab foundation; Existing (year built not specified)
• Exterior features: Cleared lot; Lot dimensions approximately 50 x 215.8 (irregular)

Interior

• Kitchen: Electric oven; Dishwasher
• Bedrooms: Three bedrooms (all on the main level) — approx. 14x13, 13x11, 13x11
• Flooring: Laminate; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Carbon monoxide detector(s); Security system; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 10.1% vs local median 3.5% 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 62/100 on livability (#216 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Madison County (urban): math 10% / reading 17% proficiency, ranked #131 of 139 in TN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Isaac Lane Technology Magnet Elementary (math 2% / reading 2%, grade F, #926 of 952 statewide, top 100%, 467 students, 0% FRL); Liberty Technology Magnet High School (math 2% / reading 13%, grade F, #290 of 332 statewide, top 87%, 549 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 253 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 247 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• At $1,733/mo this rent would consume 48% of the median local household income ($43k/yr) (locally 1701% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.68%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $200,732
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Phillips St	0.00mi	3/2.0	1,498 (0%)	19mo	$135,000	$90	84
159 Cartmell St	0.21mi	4/2.0 (+1)	1,541 (+3%)	4mo	$205,900	$134	77
155 Cartmell St	0.17mi	3/2.0	1,350 (-10%)	9mo	$250,000	$185	68
151 Cartmell St	0.20mi	4/2.0 (+1)	1,560 (+4%)	14mo	$250,000	$160	67
260 Phillips St	0.19mi	3/2.0	1,320 (-12%)	16mo	$184,000	$139	58
163 Cartmell St	0.22mi	3/2.0	1,277 (-15%)	9mo	$215,000	$168	58
357 Lexington Ave	0.59mi	3/2.0	1,436 (-4%)	11mo	$45,000	$31	56
412 Preston St	0.73mi	2/1.5 (-1)	1,578 (+5%)	7mo	$62,000	$39	44
231 Jackson St	0.72mi	3/1.0	1,372 (-8%)	8mo	$33,000	$24	42
11 Ashland Dr	0.60mi	3/2.0	1,688 (+13%)	11mo	$246,000	$146	42
237 Jackson St	0.71mi	3/1.0	1,422 (-5%)	18mo	$58,900	$41	40
205 Southern St	0.65mi	4/2.0 (+1)	1,312 (-12%)	7mo	$143,500	$109	38

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 · 5.19% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.24×
• Total profit: $9,849
• Equity at exit: $21,620

10-year hold

• IRR: 17.2%
• Equity multiple: 2.56×
• Total profit: $63,148
• Equity at exit: $12,537

Cash invested: $40,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 38301

• Rents YoY: 5.2%
• Active inventory: 253
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,733 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$86 /mo · $1,029/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $463

Break-even live

Break-even rent $1,148

Max offer price $145,000

Occupancy floor 68%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Jackson Walk Plz Jackson, TN	1.0–3.0	1.0–2.5	1082	$2,600	$2.40	43d	1	1.39mi

Listing history 11 events

1. 2026-06-19
   days on market $145,000 Active 12 DOM
2. 2026-06-18
   days on market $145,000 Active 11 DOM
3. 2026-06-17
   days on market $145,000 Active 10 DOM
4. 2026-06-16
   days on market $145,000 Active 9 DOM
5. 2026-06-15
   days on market $145,000 Active 8 DOM
6. 2026-06-14
   days on market $145,000 Active 6 DOM
7. 2026-06-13
   days on market $145,000 Active 5 DOM
8. 2026-06-10
   days on market $145,000 Active 3 DOM
9. 2026-06-09
   days on market $145,000 Active 2 DOM
10. 2026-06-08
    remarks 578-char remark
11. 2026-06-08
    listed $145,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $1,029 · $86/mo
• Projected year-2 tax: $1,030 · $86/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $20,800
• − Mortgage interest: −$8,122
• − Property taxes: −$1,029
• − Insurance: −$725
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$4,218
• Taxable income: $3,378
• Est. tax owed @ 24.0%: −$811
• After-tax cash flow: $4,743/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: Madison County
• NCES district ID: 4702580
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $42,015
• Composite: 11.74/100
• National rank: #9687
• State rank: #131 of 139 in TN

Livability — Jackson

• Score: 62/100
• State rank: #216
• US rank: #16488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, TN
• County: Madison County · 87,024 people
• City population: 87,024
• Metro: Jackson, TN
• Population (ZIP): 33,536
• Household income: $43,227
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1701.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 95,952 people
• By 2030: 94,264 · -1.8%
• By 2040: 89,607 · -6.6%
• By 2050: 84,133 · -12.3%
• By 2075: 72,215 · -24.7%
• By 2100: 62,062 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 50% White 42% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Serbian 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: R (+18.2) · D 40.3% · R 58.5% · Other 1.2%
• 2008→2024 swing: +3.4pp toward D · 2008: -21.6pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+12.9 2016: R+15.6 2012: R+8.9 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.26%
• Current HPI: 162.2273
• Rent YoY: ▲ 5.19%
• Metro: Jackson, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

+1060.0% since first listed

12 events — show timeline

• 2026-06-08 Listed $145,000 REALTRACS as Distributed by MLS Grid
• 2024-12-03 Sold (Public Records) $135,000 Public Records
• 2024-11-27 Sold (MLS) $135,000 REALTRACS as Distributed by MLS Grid
• 2024-10-31 Pending — REALTRACS as Distributed by MLS Grid
• 2024-10-25 Price Changed $149,000 REALTRACS as Distributed by MLS Grid
• 2024-09-27 Price Changed $159,000 REALTRACS as Distributed by MLS Grid
• 2024-07-29 Listed $179,000 REALTRACS as Distributed by MLS Grid
• 2023-08-08 Sold (Public Records) $93,000 Public Records
• 2015-07-31 Sold (Public Records) $64,000 Public Records
• 2015-07-30 Sold (MLS) $64,000 CWTAR
• 2014-12-01 Listed $64,000 CWTAR
• 1999-11-11 Sold (Public Records) $12,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,029 · +0.0% YoY. Source: county tax records.