1346 Fernwood Dr · Jackson, MS 39213

$60,000

4 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 109 Days on market

Built 1955 7,405 sqft lot $42/sqft · 11% above area Est $54k · 11% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.4/5.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

INVESTOR SPECIAL! This 3BR/2BA home is ready for renovation and offers strong potential for value add. With some flooring already on-site and portions of updates underway, this property offers a head start for investors or handy buyers ready to bring it back to life. Sold as is with owner financing available.

Key facts

• Ready for renovation
• Flooring on-site
• 7,405 sq ft lot

Tags

• READY FOR RENOVATION
• FLOORING ON-SITE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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: 81 active listings in the ZIP; 8 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).
• At $1,309/mo this rent would consume 53% of the median local household income ($30k/yr) (locally 1138% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 1955 — 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 $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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 1955 — 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: 2.18% ✓
• Cap rate: 18.51%
• Cash-on-cash: 43.63%
• DSCR: 2.94
• GRM: 3.8

CMA / ARV

• ARV (median comp): $54,237
• List price: $60,000
• Delta: 10.63%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3245 Albermarle Rd	0.30mi	4/2.0	1,416 (-2%)	14mo	$78,000	$55	72
3549 Hollywood Ave	0.40mi	4/2.0	1,339 (-7%)	8mo	$20,000	$15	63
3726 Westchester Dr	0.73mi	3/2.0 (-1)	1,450 (+1%)	4mo	$55,000	$38	56
2255 W Ridgeway St	0.49mi	4/2.0	1,352 (-6%)	18mo	$85,000	$63	52
2829 Comfort St	0.29mi	3/1.5 (-1)	1,260 (-12%)	15mo	$48,000	$38	46
2227 Morton Ave	0.68mi	3/1.5 (-1)	1,406 (-2%)	18mo	$55,000	$39	42
3822 N Wabash St	0.72mi	3/2.0 (-1)	1,411 (-2%)	19mo	$63,000	$45	42
3735 California Ave	0.66mi	4/2.5	1,584 (+10%)	13mo	$68,000	$43	40
2605 Lilly St	0.75mi	4/1.5	1,336 (-7%)	20mo	$64,500	$48	34

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: 58.2%
• Equity multiple: 5.26×
• Total profit: $71,607
• Equity at exit: $54,053

10-year hold

• IRR: 51.8%
• Equity multiple: 11.73×
• Total profit: $180,328
• Equity at exit: $116,567

Cash invested: $16,800 (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 39213

• Home prices YoY: 7.0%
• Active inventory: 81
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,309 high
• Mortgage (P&I): −$315
• Tax from tax record: −$84 /mo · $1,006/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $611

Break-even live

Break-even rent $536

Max offer price $60,000

Occupancy floor 48%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2829 Comfort St Jackson, MS	3.0	2.0	1260	$1,250	$0.99	13d	1	0.26mi
2829 Comfort St Jackson, MS	3.0	1.5	1260	$1,250	$0.99	23d	1	0.26mi
3444 Martin Luther King Jr Dr Jackson, MS	3.0	2.0	1200	$1,100	$0.92	43d	1	0.34mi
3434 Midlawn Ave Jackson, MS	4.0	2.0	1188	$1,200	$1.01	21d	1	0.35mi
2157 Ludlow Ave Unit Na Jackson, MS	3.0	2.0	1123	$1,450	$1.29	13d	1	0.76mi
2157 Ludlow Ave Jackson, MS	3.0	2.0	1123	$1,300	$1.16	43d	1	0.76mi
3625 Liberty St Jackson, MS	3.0	1.0	1056	$1,190	$1.13	13d	1	0.79mi
2566 Williamson Ave Jackson, MS	3.0	1.5	940	$1,150	$1.22	43d	1	1.11mi

Listing history 25 events

1. 2026-06-18
   days on market $60,000 Active 109 DOM
2. 2026-06-17
   days on market $60,000 Active 108 DOM
3. 2026-06-16
   days on market $60,000 Active 107 DOM
4. 2026-06-15
   days on market $60,000 Active 106 DOM
5. 2026-06-14
   days on market $60,000 Active 104 DOM
6. 2026-06-13
   days on market $60,000 Active 103 DOM
7. 2026-06-10
   days on market $60,000 Active 101 DOM
8. 2026-06-09
   days on market $60,000 Active 100 DOM
9. 2026-06-08
   days on market $60,000 Active 99 DOM
10. 2026-06-07
    days on market $60,000 Active 98 DOM
11. 2026-06-05
    days on market $60,000 Active 95 DOM
12. 2026-06-03
    days on market $60,000 Active 94 DOM
13. 2026-06-02
    days on market $60,000 Active 93 DOM
14. 2026-06-01
    days on market $60,000 Active 92 DOM
15. 2026-05-31
    days on market $60,000 Active 91 DOM
16. 2026-05-30
    days on market $60,000 Active 90 DOM
17. 2026-03-01
    listed $60,000 Active 310-char remark

    Show marketing remark (310 chars)

    INVESTOR SPECIAL! This 3BR/2BA home is ready for renovation and offers strong potential for value add. With some flooring already on-site and portions of updates underway, this property offers a head start for investors or handy buyers ready to bring it back to life. Sold as is with owner financing available.

18. 2023-04-13
    soldstatus Closed 106-char remark

    Show marketing remark (106 chars)

    Great deal on this ''As Is'' Where Is'' marketed property. The house will need work. Hurry wont last long.

19. 2023-04-03
    soldstatus
20. 2023-03-07
    status Pending 106-char remark

    Show marketing remark (106 chars)

    Great deal on this ''As Is'' Where Is'' marketed property. The house will need work. Hurry wont last long.

21. 2023-02-27
    listed $18,400 Active 106-char remark

    Show marketing remark (106 chars)

    Great deal on this ''As Is'' Where Is'' marketed property. The house will need work. Hurry wont last long.

22. 2008-05-31
    historical
23. 2007-09-29
    listed $58,500
24. 2001-02-28
    soldstatus
25. 1955-11-25
    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: $1,006 · $84/mo
• Projected year-2 tax: $1,006 · $84/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: $15,711
• − Mortgage interest: −$3,361
• − Property taxes: −$1,006
• − Insurance: −$300
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$1,745
• Taxable income: $6,785
• Est. tax owed @ 24.0%: −$1,628
• After-tax cash flow: $5,702/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): 18,691
• Household income: $29,541
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1138.0

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 (95%)
• Race & ethnicity: Black 95% White 2% Two or more races 1% Hispanic / Latino 1%
• Foreign-born: 0% · 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: ▲ 21.42%
• Current HPI: 329.1844
• Rent YoY: —
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+2.6% since first listed

9 events — show timeline

• 2026-03-01 Listed $60,000 MLSU
• 2023-04-13 Sold (MLS) — MLSU
• 2023-04-03 Sold (Public Records) — Public Records
• 2023-03-07 Pending — MLSU
• 2023-02-27 Listed $18,400 MLSU
• 2008-05-31 Listing Removed — MLSU
• 2007-09-29 Listed $58,500 MLSU
• 2001-02-28 Sold (Public Records) — Public Records
• 1955-11-25 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,006 · +0.4% YoY. Source: county tax records.