214 Merrimack St · Jackson, MS 39209

$29,900

3 bd · 1.5 ba · 1,094 sqft · SingleFamily public records · 120 Days on market

Built 1969 9,147 sqft lot $27/sqft · 27% below area Est $41k · 27% under ↓ 27% since listing

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Why this score? — see what drove the C 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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

This home is in need of some TLC and a quick rehab to restore it's beauty. Not far from stores, and shopping. Ideal starter home in a quiet neighborhood. Call your agent to make this home yours today.

Key facts

• 9,147 sq ft lot
• Garage
• Built 1969

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 37.3% 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: 165 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($207 loan paydown + $3k appreciation (10.0% local appreciation)).
• Hinds County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $3k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.
• 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 $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 4.35% ✓
• Cap rate: 37.28%
• Cash-on-cash: 110.66%
• DSCR: 5.92
• GRM: 1.9

CMA / ARV

• ARV (median comp): $40,996
• List price: $29,900
• Delta: -27.07%
• 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
5201 Andover Dr	0.16mi	3/1.0	1,082 (-1%)	6mo	$100,000	$92	84
5226 Andover Dr	0.21mi	3/1.0	1,040 (-5%)	13mo	$35,000	$34	69
324 Windsor Dr	0.13mi	3/1.0	950 (-13%)	1mo	$15,900	$17	69
346 Queen Theresa Ln	0.51mi	3/1.0	1,056 (-4%)	4mo	$64,600	$61	65
110 Barbara Ave	0.49mi	2/1.0 (-1)	1,065 (-3%)	3mo	$40,000	$38	63
5100 Ginger Dr	0.20mi	3/1.0	1,190 (+9%)	16mo	$30,000	$25	60
355 Queen Catherine Ln	0.51mi	3/1.0	1,096 (+0%)	17mo	$50,000	$46	60
331 Queen Margaret Ln	0.68mi	3/1.5	1,027 (-6%)	7mo	$59,900	$58	52
356 Queen Isabella Ln	0.74mi	3/1.5	996 (-9%)	6mo	$60,000	$60	46
425 N Springfield Cir	0.63mi	3/1.5	1,244 (+14%)	3mo	$45,000	$36	45
5002 Clinton Blvd	0.45mi	3/1.0	1,206 (+10%)	19mo	$12,000	$10	44
135 Queen Anne Ln	0.64mi	3/2.0	1,248 (+14%)	5mo	$64,900	$52	41

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.82×
• Total profit: $65,506
• Equity at exit: $26,936

10-year hold

• IRR: —
• Equity multiple: 19.43×
• Total profit: $154,333
• Equity at exit: $58,089

Cash invested: $8,372 (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 39209

• Home prices YoY: 7.7%
• Active inventory: 165
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$86 /mo · $1,027/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $772

Break-even live

Break-even rent $323

Max offer price $29,900

Occupancy floor 36%

Sensitivity live

Price	-10% $789	-5% $781	+0% $772	+5% $764	+10% $755
Rent	-10% $669	-5% $721	+0% $772	+5% $823	+10% $875
Rate	-1.0pp $787	-0.5pp $780	base $772	+0.5pp $764	+1.0pp $756

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5301 Queen Mary Ln Jackson, MS	4.0	2.0	1100	$1,338	$1.22	15d	1	0.31mi
5629 Queen Mary Ln Jackson, MS	3.0	2.0	1272	$1,395	$1.10	15d	1	0.82mi

Listing history 30 events

1. 2026-06-18
   price $29,900 Active 120 DOM
2. 2026-06-18
   days on market $32,999 Active 120 DOM
3. 2026-06-17
   days on market $32,999 Active 119 DOM
4. 2026-06-16
   days on market $32,999 Active 118 DOM
5. 2026-06-15
   days on market $32,999 Active 117 DOM
6. 2026-06-14
   days on market $32,999 Active 115 DOM
7. 2026-06-13
   days on market $32,999 Active 114 DOM
8. 2026-06-10
   days on market $32,999 Active 112 DOM
9. 2026-06-09
   days on market $32,999 Active 111 DOM
10. 2026-06-08
    days on market $32,999 Active 110 DOM
11. 2026-06-07
    days on market $32,999 Active 109 DOM
12. 2026-06-05
    days on market $32,999 Active 106 DOM
13. 2026-06-03
    days on market $32,999 Active 105 DOM
14. 2026-06-02
    days on market $32,999 Active 104 DOM
15. 2026-06-01
    days on market $32,999 Active 103 DOM
16. 2026-05-31
    days on market $32,999 Active 102 DOM
17. 2026-05-30
    days on market $32,999 Active 101 DOM
18. 2026-02-18
    listed $32,999 Active 200-char remark

    Show marketing remark (200 chars)

    This home is in need of some TLC and a quick rehab to restore it's beauty. Not far from stores, and shopping. Ideal starter home in a quiet neighborhood. Call your agent to make this home yours today.

19. 2025-10-15
    historical
20. 2024-11-24
    listed $32,999 Active
21. 2024-03-07
    soldstatus
22. 2019-10-22
    soldstatus
23. 2018-09-13
    soldstatus
24. 2018-05-04
    soldstatus
25. 2017-09-09
    listed $28,000
26. 2003-12-01
    soldstatus
27. 2003-10-16
    soldstatus
28. 2003-06-21
    listed $44,900
29. 1992-08-17
    soldstatus
30. 1991-12-11
    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: $1,027 · $86/mo
• Projected year-2 tax: $1,027 · $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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°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: $15,599
• − Mortgage interest: −$1,675
• − Property taxes: −$1,027
• − Insurance: −$150
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$870
• Taxable income: $9,381
• Est. tax owed @ 24.0%: −$2,252
• After-tax cash flow: $7,013/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): 25,776
• Household income: $36,344
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1627.0

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 (90%)
• Race & ethnicity: Black 90% White 7% Two or more races 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▲ 22.28%
• Current HPI: 312.6754
• Rent YoY: —
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-26.5% since first listed

13 events — show timeline

• 2026-02-18 Listed $32,999 MLSU
• 2025-10-15 Listing Removed — MLSU
• 2024-11-24 Listed $32,999 MLSU
• 2024-03-07 Sold (Public Records) — Public Records
• 2019-10-22 Sold (Public Records) — Public Records
• 2018-09-13 Sold (Public Records) — Public Records
• 2018-05-04 Sold (MLS) — MLSU
• 2017-09-09 Listed $28,000 MLSU
• 2003-12-01 Sold (Public Records) — Public Records
• 2003-10-16 Sold (MLS) — MLSU
• 2003-06-21 Listed $44,900 MLSU
• 1992-08-17 Sold (Public Records) — Public Records
• 1991-12-11 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,027 · +1.8% YoY. Source: county tax records.