312 Spanish Ct Unit B · Jackson, MS 39202

$50,000

1 bd · 1.0 ba · 1,700 sqft · SingleFamily · 2 Days on market

Built 1931 Poor condition 5,662 sqft lot

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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 +4.0/5.0
• Livability +3.4/5.0
• Schools +1.1/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a duplex. One side occupied with a quasi paying tenant. The other side is vacant. We do not have access to occupied unit. Property will have to be purchased without access to occupied unit. There is a major water leak in Unit B that has severely compromised the integrity of the bathroom. Both the roof and bath room have been damaged . ..

Key facts

• 5,662 sq ft lot
• Built 1931
• Listed 2 days

Property features AI

Finance

• Financial info: Two total units; Owner pays grounds care, sewer, trash collection, and water; Tenants pay cable TV and electricity

Exterior

• Parking: Driveway
• Security: Security door
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Multi-family property; One level; Fixer condition
• Construction: Brick veneer and plaster construction; Pillar/post/pier foundation; Built (year per public records)
• Exterior features: Front porch; Fenced (other); City lot

Interior

• Kitchen: Free-standing electric range; Refrigerator
• Flooring: Carpet; Ceramic tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Security door; Private entrance; Awnings
• Laundry & utility: Washer hookup in kitchen; Electric dryer hookup; Electric water heater

🏷️ Possibly a rental listed for sale. The $50,000 price doesn't fit this home's estimated sale value (~$241,400) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 24.0% 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: 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: Galloway Elementary School (math 2% / reading 12%, grade F, #337 of 375 statewide, top 94%, 329 students, 100% FRL); Powell Middle School (math 3% / reading 6%, grade F, #177 of 179 statewide, top 99%, 320 students, 100% FRL); Lanier High School (math 3% / reading 2%, grade F, #197 of 197 statewide, top 100%, 603 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 $346 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 + 5.9% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1931 — 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: 2.74% ✓
• Cap rate: 23.99%
• Cash-on-cash: 63.20%
• DSCR: 3.81
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $241,400
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1044 Manship St St	0.68mi	2/1.0 (+1)	1,628 (-4%)	20mo	$245,000	$150	40
1707 Pine St	0.62mi	2/3.0 (+1)	1,900 (+12%)	4mo	$250,000	$132	35
1024 Pinehurst St	0.75mi	2/2.0 (+1)	1,818 (+7%)	20mo	$259,000	$142	28

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: 65.5%
• Equity multiple: 4.07×
• Total profit: $43,013
• Equity at exit: $7,455

10-year hold

• IRR: 70.8%
• Equity multiple: 9.29×
• Total profit: $116,005
• Equity at exit: $4,323

Cash invested: $14,000 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $737

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 41%

Sensitivity live

Price	-10% $772	-5% $755	+0% $737	+5% $720	+10% $703
Rent	-10% $629	-5% $683	+0% $737	+5% $792	+10% $846
Rate	-1.0pp $763	-0.5pp $750	base $737	+0.5pp $724	+1.0pp $711

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 N State St Jackson, MS	2.0	2.0	1800	$2,450	$1.36	24d	1	0.62mi
850 N Jefferson St Jackson, MS	1.0–2.0	1.0–2.0	880	$739	$0.84	14d	4	0.72mi
1119 Manship St Jackson, MS	2.0	2.0	1587	$2,200	$1.39	14d	1	0.79mi
1202 E Fortification St Jackson, MS	2.0	1.0	1225	$1,150	$0.94	24d	1	0.84mi
1140 Greymont Ave Unit C13 Jackson, MS	2.0	2.0	1050	$1,250	$1.19	44d	1	0.97mi
1140 Greymont Ave Jackson, MS	1.0–2.0	1.0–2.0	835	$915	$1.10	14d	6	0.97mi
308 E Pearl St Jackson, MS	1.0	1.5	1396	$1,550	$1.11	44d	1	1.12mi
209 Poindexter St Jackson, MS	2.0	2.0	1075	$825	$0.77	44d	1	1.19mi

Listing history 4 events

1. 2026-05-22
   status Pending
2. 2026-05-20
   listed $50,000 Active
3. 2025-03-03
   historical $625
4. 2025-02-19
   listed $625

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,449
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$1,455
• Taxable income: $8,562
• Est. tax owed @ 24.0%: −$2,055
• After-tax cash flow: $6,794/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates, including major work on the bathroom, roof, exterior, flooring, and HVAC. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major bathroom — Severe water damage
• Major roof — Signs of damage
• Major exterior — Needs painting and possibly siding replacement
• Major flooring — Needs replacement
• Major interior walls — Needs painting
• Major HVAC/mechanicals — Needs inspection and possibly replacement

Value-add opportunities

• Both painting and exterior repairs — Enhances curb appeal and interior appearance
• Both HVAC replacement — Improves comfort and energy efficiency
• Both bathroom renovation — Fixes major water damage and improves functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
bathroom · Severe water damage	Major	$15,000–50,000
roof · Signs of damage	Major	$15,000–50,000
exterior · Needs painting and possibly siding replacement	Major	$15,000–50,000
flooring · Needs replacement	Major	$15,000–50,000
interior walls · Needs painting	Major	$15,000–50,000
HVAC/mechanicals · Needs inspection and possibly replacement	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both painting and exterior repairs — Enhances curb appeal and interior appearance ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑
• Both bathroom renovation — Fixes major water damage and improves functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

4 events — show timeline

• 2026-05-22 Pending — MLSU
• 2026-05-20 Listed $50,000 MLSU
• 2025-03-03 Rental Removed $625 MLSU
• 2025-02-19 Listed for Rent $625 MLSU