1003 Spengler St · Jackson, MS 39202

$149,000

3 bd · 2.0 ba · 1,511 sqft · SingleFamily public records · 92 Days on market

Built 1938 5,662 sqft lot Est $147k · at est.

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Why this score? — see what drove the D+ 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 +20.9/30.0
• ARV discount +6.8/15.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

3/2 on corner lot - Bright, efficient layout with classic bungalow appeal and easy access to downtown — perfect for buyers seeking convenience and strong short term or long-term rental potential.

Key facts

• Efficient layout
• Corner lot
• 5,662 sq ft lot

Tags

• CORNER LOT
• EFFICIENT LAYOUT
• CLASSIC BUNGALOW APPEAL
• EASY ACCESS TO DOWNTOWN

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single-family house; One level
• Construction: Siding construction; Conventional foundation; Shingle roof; Built (year per public records)
• Exterior features: Wood fencing; Corner lot

Interior

• Kitchen: Refrigerator
• Flooring: Luxury vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Refrigerator included
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (6.8% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

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: Baker Elementary School (math 2% / reading 8%, grade F, #356 of 375 statewide, top 98%, 211 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 fast (+5.9%/yr); 40 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).
• This rent runs 43% of the median local income ($39k/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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y 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 1938 — 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 $135,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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 1938 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $146,567
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1054 Madison St	0.51mi	3/2.0	1,492 (-1%)	4mo	$144,000	$97	71
908 Madison St	0.38mi	3/2.0	1,438 (-5%)	7mo	$219,900	$153	68
1039 Monroe St	0.52mi	3/2.0	1,650 (+9%)	4mo	$149,900	$91	57
1023 Madison St	0.49mi	4/2.0 (+1)	1,721 (+14%)	1mo	$158,000	$92	48
1002 Monroe St	0.48mi	3/2.0	1,728 (+14%)	8mo	$90,000	$52	47
1044 Manship St St	0.70mi	2/1.0 (-1)	1,628 (+8%)	20mo	$245,000	$150	29

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 · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,849
• Equity at exit: $22,216

10-year hold

• IRR: 8.2%
• Equity multiple: 1.69×
• Total profit: $28,967
• Equity at exit: $12,883

Cash invested: $41,720 (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 39202

• Home prices YoY: -23.3%
• Rents YoY: 5.9%
• Active inventory: 40
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,389 high
• Mortgage (P&I): −$781
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $207

Break-even live

Break-even rent $1,127

Max offer price $149,000

Occupancy floor 80%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 N Jefferson St Jackson, MS	1.0–2.0	1.0–2.0	880	$1,099	$1.25	14d	4	0.23mi
910 Morningside St Jackson, MS	3.0	2.5	1400	$1,395	$1.00	44d	1	0.42mi
1202 E Fortification St Jackson, MS	2.0	1.0	1225	$1,150	$0.94	23d	1	0.59mi
1119 Manship St Jackson, MS	2.0	2.0	1587	$2,200	$1.39	14d	1	0.69mi
1140 Greymont Ave Unit C13 Jackson, MS	2.0	2.0	1050	$1,250	$1.19	44d	1	0.72mi
1140 Greymont Ave Jackson, MS	1.0–2.0	1.0–2.0	835	$1,250	$1.50	14d	6	0.72mi
1710 N State St Jackson, MS	2.0	2.0	1800	$2,450	$1.36	23d	1	1.17mi
209 Poindexter St Jackson, MS	2.0	2.0	1075	$825	$0.77	44d	1	1.43mi

Listing history 20 events

1. 2026-04-08
   status Pending
2. 2026-03-13
   status Active
3. 2026-02-24
   status Pending
4. 2026-02-12
   status Active
5. 2026-01-19
   status Pending
6. 2025-11-26
   listed $149,000 Active
7. 2024-07-01
   historical
8. 2024-04-20
   price $110,000
9. 2023-12-29
   listed $130,000 Active
10. 2023-08-03
    soldstatus
11. 2021-10-08
    historical
12. 2021-10-02
    historical
13. 2021-09-17
    historical
14. 2015-01-21
    listed $129,500
15. 2014-07-22
    soldstatus
16. 2013-07-30
    listed $19,500
17. 2013-06-29
    listed $35,000
18. 2010-03-08
    soldstatus
19. 1998-06-08
    soldstatus
20. 1997-09-30
    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: $562 · $47/mo
• Projected year-2 tax: $1,177 · $98/mo
• Expected delta: +$615/yr (+$51/mo · 109.6%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°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: $16,665
• − Mortgage interest: −$8,346
• − Property taxes: −$562
• − Insurance: −$745
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$4,335
• Taxable income: $11
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $2,480/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): 6,832
• Household income: $38,554
• Rent vs Own: 67.5% rent · 32.5% own
• Severe rent burden: 628.0

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: Majority Black (54%)
• Race & ethnicity: Black 54% White 41% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% 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: ▼ -44.29%
• Current HPI: 145.4466
• Rent YoY: ▲ 5.91%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+325.7% since first listed

20 events — show timeline

• 2026-04-08 Pending — MLSU
• 2026-03-13 Relisted — MLSU
• 2026-02-24 Pending — MLSU
• 2026-02-12 Relisted — MLSU
• 2026-01-19 Pending — MLSU
• 2025-11-26 Listed $149,000 MLSU
• 2024-07-01 Listing Removed — MLSU
• 2024-04-20 Price Changed $110,000 MLSU
• 2023-12-29 Listed $130,000 MLSU
• 2023-08-03 Sold (Public Records) — Public Records
• 2021-10-08 Listing Removed — MLSU
• 2021-10-02 Listing Removed — MLSU
• 2021-09-17 Listing Removed — MLSU
• 2015-01-21 Listed $129,500 MLSU
• 2014-07-22 Sold (Public Records) — Public Records
• 2013-07-30 Listed $19,500 MLSU
• 2013-06-29 Listed $35,000 MLSU
• 2010-03-08 Sold (Public Records) — Public Records
• 1998-06-08 Sold (Public Records) — Public Records
• 1997-09-30 Sold (Public Records) — Public Records

Property tax history

-4.5%/yr

Latest (2025): $562 · +0.3% YoY. Source: county tax records.