3251 Corey Dr · Jackson, MS 39212

$77,000

3 bd · 1.5 ba · 1,090 sqft · SingleFamily public records · 123 Days on market

Built 1955 0.31 ac lot $71/sqft · 72% above area

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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
• ARV discount +7.5/15.0
• 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

Take a look at this 3 bedroom 1.5 bath home! It is move in ready. Updated floors throughout no carpet and spacious inside. This home has been updated with new fixtures, toilets, vanities and newly painted.Call your favorite Realtor to view this home now.

Key facts

• New toilets
• Updated floors
• New fixtures

Tags

• UPDATED FLOORS
• NEW FIXTURES
• NEW TOILETS
• NEW VANITIES
• NEWLY PAINTED

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $532 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 + 4.2% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.60% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.02%
• DSCR: 2.07
• GRM: 5.2

CMA / ARV

• ARV (median comp): $45,687
• List price: $77,000
• Delta: 68.54%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1219 Woody Dr	0.37mi	3/1.0	1,058 (-3%)	5mo	$67,000	$63	72
3333 Rosemary Ave	0.07mi	3/1.5	1,241 (+14%)	5mo	$63,000	$51	70
702 Cooper Rd	0.14mi	3/1.0	1,241 (+14%)	4mo	$91,000	$73	65
611 Chelsea Dr	0.73mi	3/1.5	1,118 (+3%)	1mo	$26,900	$24	61
2877 Teresa Dr	0.54mi	3/1.5	1,006 (-8%)	4mo	$105,000	$104	59
1340 Woody Dr	0.47mi	3/1.0	1,208 (+11%)	1mo	$59,900	$50	57
677 Woody Dr	0.35mi	3/2.0	1,248 (+14%)	2mo	$70,000	$56	56
2920 Lakewood Dr	0.67mi	4/2.0 (+1)	1,125 (+3%)	1mo	$69,900	$62	56
2842 Teresa Dr	0.61mi	3/1.0	1,008 (-8%)	2mo	$35,000	$35	56
1010 Deryll St	0.69mi	3/2.0	1,143 (+5%)	3mo	$49,900	$44	55
983 Branch St	0.63mi	3/2.0	1,252 (+15%)	4mo	$60,000	$48	40
1026 Branch St	0.73mi	3/2.0	1,236 (+13%)	3mo	$55,000	$44	39

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: 18.7%
• Equity multiple: 1.77×
• Total profit: $16,574
• Equity at exit: $11,481

10-year hold

• IRR: 27.9%
• Equity multiple: 3.62×
• Total profit: $56,410
• Equity at exit: $6,658

Cash invested: $21,560 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$404
• Tax from tax record: −$105 /mo · $1,263/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $432

Break-even live

Break-even rent $685

Max offer price $77,000

Occupancy floor 60%

Sensitivity live

Price	-10% $475	-5% $453	+0% $432	+5% $410	+10% $388
Rent	-10% $334	-5% $383	+0% $432	+5% $480	+10% $529
Rate	-1.0pp $470	-0.5pp $451	base $432	+0.5pp $412	+1.0pp $391

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3151 Shirley Dr Jackson, MS	4.0	2.0	1474	$1,306	$0.89	14d	1	0.18mi
3162 Oak Forest Dr Jackson, MS	3.0	1.5	1280	$1,236	$0.97	44d	1	0.19mi
3122 Oak Forest Dr Jackson, MS	3.0	2.0	1421	$1,100	$0.77	44d	1	0.26mi
1219 Woody Dr Jackson, MS	3.0	1.0	1058	$1,150	$1.09	24d	1	0.35mi
3049 Lakewood Dr Jackson, MS	3.0	1.0	1200	$975	$0.81	44d	1	0.42mi
3030 Oak Forest Dr Jackson, MS	3.0	2.0	1200	$1,100	$0.92	14d	1	0.42mi
3030 Oak Forest Dr Jackson, MS	3.0	1.5	1200	$1,100	$0.92	44d	1	0.42mi
1223 Marydale Dr Jackson, MS	3.0	1.0	1300	$950	$0.73	44d	1	0.44mi
3308 Ramona St Jackson, MS	3.0	1.0	1104	$1,150	$1.04	21d	1	0.45mi
3511 Sykes Park Dr Jackson, MS	3.0	2.0	1225	$1,426	$1.16	14d	1	0.52mi
3152 Bilgray Dr Jackson, MS	3.0	1.5	1200	$1,100	$0.92	14d	1	0.55mi
2873 Teresa Dr Jackson, MS	3.0	1.0	1100	$1,100	$1.00	44d	1	0.56mi
103 Sykes Park Cir Jackson, MS	3.0	2.0	1500	$1,250	$0.83	44d	1	0.57mi
422 Cooper Rd Jackson, MS	3.0	1.0	1049	$1,426	$1.36	24d	1	0.67mi
1010 Deryll St Jackson, MS	3.0	2.0	1143	$1,050	$0.92	14d	1	0.67mi
1018 Deryll St Jackson, MS	3.0	1.0	1056	$900	$0.85	24d	1	0.69mi
1054 Deryll St Jackson, MS	3.0	1.5	1132	$1,050	$0.93	14d	1	0.76mi
2786 Brookwood Dr Jackson, MS	3.0	1.0	1003	$1,100	$1.10	44d	1	0.85mi
3341 Suncrest Dr Jackson, MS	4.0	1.0	1292	$1,225	$0.95	44d	1	0.86mi
1126 Barbara Ann Dr Jackson, MS	3.0	1.0	1343	$1,000	$0.74	14d	1	0.95mi
1126 Barbara Ann Dr Jackson, MS	3.0	1.0	1343	$1,000	$0.74	44d	1	0.95mi
316 Woody Dr Jackson, MS	3.0	1.0	1185	$1,250	$1.05	14d	1	0.95mi
316 Woody Dr Jackson, MS	3.0	1.0	1185	$1,250	$1.05	44d	1	0.95mi
427 McDowell Park Cir Jackson, MS	3.0	1.5	1308	$1,200	$0.92	14d	1	0.98mi
270 Wildwood Ct Jackson, MS	3.0	1.0	1200	$1,200	$1.00	21d	1	1.00mi
267 Woody Dr Jackson, MS	3.0	1.5	1165	$1,100	$0.94	44d	1	1.02mi
2858 Fairhill Dr Jackson, MS	2.0	1.0	900	$825	$0.92	44d	1	1.09mi
1513 Maria Dr Jackson, MS	3.0	2.0	1120	$1,200	$1.07	14d	1	1.13mi
1513 Maria Dr Jackson, MS	3.0	2.0	1120	$1,200	$1.07	24d	1	1.13mi
156 McCluer Rd Apt A Jackson, MS	3.0	2.0	1125	$1,300	$1.16	21d	1	1.22mi
201 W Santa Clair St Jackson, MS	2.0	1.0	1182	$950	$0.80	24d	1	1.26mi
201 W Santa Clair St Jackson, MS	2.0	1.0	1182	$950	$0.80	14d	1	1.26mi
843 Reaves St Jackson, MS	3.0	2.0	1408	$1,084	$0.77	44d	1	1.27mi
2242 Castle Hill Dr Jackson, MS	4.0	2.0	1500	$1,475	$0.98	24d	1	1.37mi
2242 Castle Hill Dr Jackson, MS	4.0	2.0	1500	$1,475	$0.98	14d	1	1.37mi
230 Savanna St Jackson, MS	2.0	1.0	782	$795	$1.02	44d	1	1.46mi
140 Neatherwood Dr Jackson, MS	3.0	2.0	1450	$1,297	$0.89	14d	1	1.49mi

Listing history 41 events

1. 2026-06-18
   days on market $77,000 Active 123 DOM
2. 2026-06-17
   days on market $77,000 Active 122 DOM
3. 2026-06-16
   days on market $77,000 Active 121 DOM
4. 2026-06-15
   days on market $77,000 Active 120 DOM
5. 2026-06-14
   days on market $77,000 Active 118 DOM
6. 2026-06-13
   days on market $77,000 Active 117 DOM
7. 2026-06-10
   days on market $77,000 Active 115 DOM
8. 2026-06-09
   days on market $77,000 Active 114 DOM
9. 2026-06-08
   days on market $77,000 Active 113 DOM
10. 2026-06-07
    days on market $77,000 Active 112 DOM
11. 2026-06-05
    days on market $77,000 Active 109 DOM
12. 2026-06-03
    days on market $77,000 Active 108 DOM
13. 2026-06-02
    days on market $77,000 Active 107 DOM
14. 2026-06-01
    days on market $77,000 Active 106 DOM
15. 2026-05-31
    days on market $77,000 Active 105 DOM
16. 2026-05-30
    days on market $77,000 Active 104 DOM
17. 2026-05-15
    price $77,000 254-char remark

    Show marketing remark (254 chars)

    Take a look at this 3 bedroom 1.5 bath home! It is move in ready. Updated floors throughout no carpet and spacious inside. This home has been updated with new fixtures, toilets, vanities and newly painted.Call your favorite Realtor to view this home now.

18. 2026-02-15
    listed $82,000 Active 254-char remark

    Show marketing remark (254 chars)

    Take a look at this 3 bedroom 1.5 bath home! It is move in ready. Updated floors throughout no carpet and spacious inside. This home has been updated with new fixtures, toilets, vanities and newly painted.Call your favorite Realtor to view this home now.

19. 2026-01-19
    historical
20. 2026-01-10
    status Active
21. 2025-12-31
    historical
22. 2025-04-16
    listed $85,900 Active
23. 2024-05-27
    historical
24. 2024-05-15
    status Active
25. 2024-05-01
    historical
26. 2024-01-01
    status Active
27. 2023-12-02
    status Pending
28. 2023-09-29
    status Active
29. 2023-09-22
    status Pending
30. 2023-09-14
    listed $49,900 Active
31. 2022-11-14
    historical
32. 2021-10-01
    historical
33. 2021-07-30
    soldstatus
34. 2019-04-23
    soldstatus
35. 2007-03-08
    soldstatus
36. 2007-03-08
    soldstatus
37. 2006-12-04
    listed $67,500
38. 2006-05-25
    listed $75,000
39. 2005-07-29
    soldstatus
40. 1976-11-04
    soldstatus
41. 1973-08-31
    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: $1,263 · $105/mo
• Projected year-2 tax: $1,263 · $105/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: $14,774
• − Mortgage interest: −$4,313
• − Property taxes: −$1,263
• − Insurance: −$385
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,240
• Taxable income: $4,209
• Est. tax owed @ 24.0%: −$1,010
• After-tax cash flow: $4,168/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

+2.7% since first listed

25 events — show timeline

• 2026-05-15 Price Changed $77,000 MLSU
• 2026-02-15 Listed $82,000 MLSU
• 2026-01-19 Listing Removed — MLSU
• 2026-01-10 Relisted — MLSU
• 2025-12-31 Listing Removed — MLSU
• 2025-04-16 Listed $85,900 MLSU
• 2024-05-27 Listing Removed — MLSU
• 2024-05-15 Relisted — MLSU
• 2024-05-01 Listing Removed — MLSU
• 2024-01-01 Relisted — MLSU
• 2023-12-02 Pending — MLSU
• 2023-09-29 Relisted — MLSU
• 2023-09-22 Pending — MLSU
• 2023-09-14 Listed $49,900 MLSU
• 2022-11-14 Rental Removed — RENT.
• 2021-10-01 Listing Removed — MLSU
• 2021-07-30 Sold (Public Records) — Public Records
• 2019-04-23 Sold (Public Records) — Public Records
• 2007-03-08 Sold (Public Records) — Public Records
• 2007-03-08 Sold (MLS) — MLSU
• 2006-12-04 Listed $67,500 MLSU
• 2006-05-25 Listed $75,000 MLSU
• 2005-07-29 Sold (Public Records) — Public Records
• 1976-11-04 Sold (Public Records) — Public Records
• 1973-08-31 Sold (Public Records) — Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,263 · +0.8% YoY. Source: county tax records.