603 Launcelot Rd · Jackson, MS 39206

$54,900

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 50 Days on market

Built 1951 9,147 sqft lot $62/sqft · 25% above area Est $39k · 42% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold AS-IS, where is, no sellers Disclosures. 2 bedroom 1 bath home located on large wooded corner lot with seperate garage. Enclosed back porch and harwood floors throughout. Formal dining room. Galley style kithcen. Lots of windows.

Key facts

• Easy access
• Manageable yard
• Spacious living area

Tags

• SINGLE-STORY
• SPACIOUS LIVING AREA
• FIREPLACE
• MANAGEABLE YARD
• CONVENIENT LOCATION
• EASY ACCESS

Property features AI

Finance

• Other: Lot is level with few trees; Lot approx. 0.21 acre

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electricity available; Sewer available
• Home design: Single-family house; One story; Fixer condition
• Construction: Wood siding; Conventional foundation; Asphalt shingle roof; Built per public records
• Exterior features: Private yard; Porch; Shed(s) / exterior storage

Interior

• Kitchen: Electric range
• Bedrooms: Primary bedroom 12x13; Additional bedroom 11x9
• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: Five total rooms; Wood flooring; Wood-frame windows
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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: amenities F, employment F, health & safety 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.
• Zoned schools: Boyd Elementary School (math 0% / reading 9%, grade F, #368 of 375 statewide, top 98%, 405 students, 100% FRL); Murrah High School (math 12% / reading 27%, grade F, #130 of 197 statewide, top 68%, 1,326 students, 100% FRL).
• Market conditions: Rents rising (+2.8%/yr); 119 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 31% of the median local income ($43k/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 $380 of loan paydown is wiped out by about $2k 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 + 2.8% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.03% ✓
• Cap rate: 17.13%
• Cash-on-cash: 38.71%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (median comp): $38,742
• List price: $54,900
• Delta: 41.71%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
547 Woodbury Rd	0.09mi	2/1.0	816 (-8%)	9mo	$94,000	$115	76
522 Woodbury Rd	0.12mi	3/1.0 (+1)	1,012 (+14%)	1mo	$25,000	$25	64
4680 Londonderry Dr	0.23mi	3/1.0 (+1)	935 (+6%)	15mo	$59,997	$64	62
556 Robinhood Rd	0.15mi	3/1.0 (+1)	960 (+9%)	18mo	$54,900	$57	59

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 · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 34.7%
• Equity multiple: 2.46×
• Total profit: $22,516
• Equity at exit: $8,186

10-year hold

• IRR: 41.4%
• Equity multiple: 4.88×
• Total profit: $59,578
• Equity at exit: $4,747

Cash invested: $15,372 (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 39206

• Home prices YoY: -10.3%
• Rents YoY: 2.8%
• Active inventory: 119
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,115 high
• Mortgage (P&I): −$288
• Tax from tax record: −$74 /mo · $891/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $496

Break-even live

Break-even rent $487

Max offer price $54,900

Occupancy floor 51%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
229 Lawrence Rd #229 Jackson, MS	2.0	1.0	840	$995	$1.18	44d	1	0.37mi
229 Lawrence Rd Jackson, MS	2.0	1.0	840	$900	$1.07	23d	1	0.37mi
227 Lawrence Rd Jackson, MS	1.0	1.0	840	$900	$1.07	23d	1	0.37mi
227 Lawrence Rd #227 Jackson, MS	2.0	1.0	840	$995	$1.18	44d	1	0.37mi
227 Lawrence Rd Jackson, MS	2.0	1.0	840	$900	$1.07	14d	2	0.37mi
4833 N State St Jackson, MS	3.0	2.0	994	$1,195	$1.20	44d	1	0.49mi
4901 McWillie Cir Jackson, MS	1.0–2.0	1.0–2.0	806	$1,150	$1.43	14d	1	0.50mi
20 N Hill Pkwy Jackson, MS	1.0–3.0	1.0–2.5	1046	$900	$0.86	14d	31	0.60mi
5255 Manhattan Rd Jackson, MS	1.0–2.0	1.0–2.0	813	$1,100	$1.35	14d	1	0.61mi
200 Stillwood Dr Jackson, MS	3.0	2.0	1088	$1,300	$1.19	44d	1	1.07mi
200 Stillwood Dr Jackson, MS	3.0	2.0	1088	$1,300	$1.19	14d	1	1.07mi
3718 Northbrook Dr Jackson, MS	2.0	1.0	942	$1,050	$1.11	23d	1	1.09mi
365 W Northside Dr Jackson, MS	1.0	1.0	550	$899	$1.63	44d	1	1.13mi
4426 Desoto St Jackson, MS	3.0	1.0	1079	$1,250	$1.16	14d	1	1.15mi
4426 Desoto St Jackson, MS	3.0	1.0	1079	$1,250	$1.16	23d	1	1.15mi
5155 Wayneland Dr Jackson, MS	1.0–2.0	1.0–2.0	905	$1,500	$1.66	23d	1	1.18mi
3908 N State St Jackson, MS	1.0	1.0	740	$2,800	$3.78	44d	1	1.37mi
3816 N State St Unit 3816 Jackson, MS	1.0	1.0	700	$1,095	$1.56	44d	1	1.42mi

Listing history 28 events

1. 2026-06-18
   days on market $54,900 Active 50 DOM
2. 2026-06-17
   days on market $54,900 Active 49 DOM
3. 2026-06-16
   days on market $54,900 Active 48 DOM
4. 2026-06-15
   days on market $54,900 Active 47 DOM
5. 2026-06-14
   days on market $54,900 Active 45 DOM
6. 2026-06-13
   days on market $54,900 Active 44 DOM
7. 2026-06-10
   days on market $54,900 Active 42 DOM
8. 2026-06-09
   days on market $54,900 Active 41 DOM
9. 2026-06-08
   days on market $54,900 Active 40 DOM
10. 2026-06-07
    days on market $54,900 Active 39 DOM
11. 2026-06-05
    days on market $54,900 Active 36 DOM
12. 2026-06-03
    days on market $54,900 Active 35 DOM
13. 2026-06-02
    days on market $54,900 Active 34 DOM
14. 2026-06-01
    days on market $54,900 Active 33 DOM
15. 2026-05-31
    days on market $54,900 Active 32 DOM
16. 2026-05-30
    days on market $54,900 Active 31 DOM
17. 2026-04-29
    listed $54,900 Active 601-char remark
18. 2014-03-24
    soldstatus 234-char remark

    Show marketing remark (234 chars)

    Sold AS-IS, where is, no sellers Disclosures. 2 bedroom 1 bath home located on large wooded corner lot with seperate garage. Enclosed back porch and harwood floors throughout. Formal dining room. Galley style kithcen. Lots of windows.

19. 2014-01-26
    listed $24,900 234-char remark

    Show marketing remark (234 chars)

    Sold AS-IS, where is, no sellers Disclosures. 2 bedroom 1 bath home located on large wooded corner lot with seperate garage. Enclosed back porch and harwood floors throughout. Formal dining room. Galley style kithcen. Lots of windows.

20. 2013-10-17
    soldstatus
21. 2005-09-19
    soldstatus
22. 2005-09-16
    soldstatus
23. 2005-05-02
    listed $49,500
24. 2003-04-30
    soldstatus
25. 2003-04-30
    soldstatus
26. 2003-02-18
    listed $42,500
27. 1999-12-03
    soldstatus
28. 1958-06-23
    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: $891 · $74/mo
• Projected year-2 tax: $891 · $74/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 6 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,381
• − Mortgage interest: −$3,075
• − Property taxes: −$891
• − Insurance: −$274
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$1,597
• Taxable income: $5,402
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $4,654/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): 23,257
• Household income: $42,686
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1554.0

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 (85%)
• Race & ethnicity: Black 85% White 9% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -22.38%
• Current HPI: 194.5873
• Rent YoY: ▲ 2.83%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+29.2% since first listed

12 events — show timeline

• 2026-04-29 Listed $54,900 MLSU
• 2014-03-24 Sold (MLS) — MLSU
• 2014-01-26 Listed $24,900 MLSU
• 2013-10-17 Sold (Public Records) — Public Records
• 2005-09-19 Sold (MLS) — MLSU
• 2005-09-16 Sold (Public Records) — Public Records
• 2005-05-02 Listed $49,500 MLSU
• 2003-04-30 Sold (Public Records) — Public Records
• 2003-04-30 Sold (MLS) — MLSU
• 2003-02-18 Listed $42,500 MLSU
• 1999-12-03 Sold (Public Records) — Public Records
• 1958-06-23 Sold (Public Records) — Public Records

Property tax history

-3.1%/yr

Latest (2025): $891 · +1.1% YoY. Source: county tax records.