221-223 W Mason St · Jackson, MI 49203

$87,500

4 bd · 2.0 ba · — sqft · MultiFamily · 34 Days on market

Built 1920 Average condition 9,583 sqft lot Est $128k · 31% under ↓ 11% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

Key facts

• 9,583 sq ft lot
• 6 parking spots
• Built 1920

Property features AI

Finance

• Financial info: Unit 221 rent: $1,000; Unit 223 rent: $800

Exterior

• Parking: Six unpaved parking spaces
• Utilities: Public water; Public sewer (sewer connected/available); Electricity connected; Natural gas connected
• Home design: Residential income property; Multi-family
• Construction: Vinyl siding; Other roof type
• Exterior features: Paved road access; Sidewalks

Interior

• Bedrooms: Three-bedroom unit (Unit 221); Two-bedroom unit (Unit 223)
• Bathrooms: One bathroom in the three-bedroom unit; One bathroom in the two-bedroom unit
• Heating & cooling: Forced-air heating (natural gas)
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $88k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 5.4% 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 74/100 on livability (#197 in MI, #4,970 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, employment F.
• Jackson Public Schools (urban): math 15% / reading 28% proficiency, ranked #458 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.5%/yr); 164 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).
• This rent runs 42% of the median local income ($56k/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 $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $11k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,875 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.23% ✓
• Cap rate: 19.11%
• Cash-on-cash: 45.76%
• DSCR: 3.04
• GRM: 3.7

CMA / ARV

• ARV (median comp): $127,707
• List price: $87,500
• Delta: -31.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
329-331 W Mason St	0.16mi	4/2.0	2,232	4mo	$96,000	$43	76
603 2nd St	0.27mi	4/2.0	2,194	1mo	$110,000	$50	74
505-507 2nd St	0.28mi	4/2.0	2,065	4mo	$94,000	$46	72
600 Greenwood Pl	0.04mi	5/4.0 (+1)	3,200	3mo	$145,213	$45	70
311 W Mason St Unit A,B,C	0.10mi	3/3.0 (-1)	2,334	6mo	$135,000	$58	68
815 1st St	0.26mi	4/2.0	1,616	13mo	$73,000	$45	65
337 W Biddle St	0.23mi	3/2.0 (-1)	—	10mo	$69,900	—	64
612 1st St	0.24mi	5/3.5 (+1)	2,988	8mo	$102,000	$34	58
1035 Maple Ave	0.50mi	4/2.0	2,484	10mo	$57,000	$23	56
500 W Biddle St Unit A,B,C,D	0.31mi	5/4.0 (+1)	2,596	6mo	$165,000	$64	55
1016 Fourth St	0.54mi	3/4.0 (-1)	—	8mo	$194,900	—	42
318 W Trail St	0.68mi	3/1.0 (-1)	—	12mo	$72,000	—	37

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 · 7.54% rent growth · sell at horizon

5-year hold

• IRR: 48.0%
• Equity multiple: 3.23×
• Total profit: $54,657
• Equity at exit: $13,047

10-year hold

• IRR: 55.6%
• Equity multiple: 7.79×
• Total profit: $166,275
• Equity at exit: $7,565

Cash invested: $24,500 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49203

• Home prices YoY: -31.7%
• Rents YoY: 7.5%
• Active inventory: 164
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,948 high
• Mortgage (P&I): −$459
• Tax est. 1.5%: −$109 /mo · $1,312/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $934

Break-even live

Break-even rent $765

Max offer price $87,500

Occupancy floor 47%

Sensitivity live

Price	-10% $995	-5% $964	+0% $934	+5% $904	+10% $874
Rent	-10% $780	-5% $857	+0% $934	+5% $1,011	+10% $1,088
Rate	-1.0pp $978	-0.5pp $956	base $934	+0.5pp $912	+1.0pp $888

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,948
Total (2 units)			$1,948

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 2nd St Unit 7 Jackson, MI	3.0	1.0	—	$1,250	—	44d	1	0.33mi
704 Sixth St Unit 1 Jackson, MI	3.0	1.0	—	$785	—	44d	1	0.57mi
408 N Perrine St Jackson, MI	3.0	1.0	990	$1,350	$1.36	44d	1	0.86mi
1807 Francis St Jackson, MI	3.0	1.0	—	$1,285	—	44d	1	1.10mi

Listing history 25 events

1. 2026-06-15
   status $87,500 Pending 34 DOM

   Show marketing remark (787 chars)

   Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

2. 2026-06-15
   days on market $87,500 Active 34 DOM

   Show marketing remark (787 chars)

   Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

3. 2026-06-14
   days on market $87,500 Active 32 DOM
4. 2026-06-13
   days on market $87,500 Active 31 DOM
5. 2026-06-10
   days on market $87,500 Active 29 DOM
6. 2026-06-09
   days on market $87,500 Active 28 DOM
7. 2026-06-08
   days on market $87,500 Active 27 DOM
8. 2026-06-07
   days on market $87,500 Active 26 DOM
9. 2026-06-03
   days on market $87,500 Active 22 DOM
10. 2026-06-02
    days on market $87,500 Active 21 DOM
11. 2026-06-01
    days on market $87,500 Active 20 DOM
12. 2026-05-31
    days on market $87,500 Active 19 DOM
13. 2026-05-30
    days on market $87,500 Active 18 DOM
14. 2026-05-15
    status Active 787-char remark

    Show marketing remark (787 chars)

    Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

15. 2026-05-15
    status Active 787-char remark

    Show marketing remark (787 chars)

    Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

16. 2026-05-08
    status Pending 787-char remark

    Show marketing remark (787 chars)

    Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

17. 2026-05-08
    status Pending 787-char remark

    Show marketing remark (787 chars)

    Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

18. 2026-05-05
    listed $98,500 Active 787-char remark

    Show marketing remark (787 chars)

    Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

19. 2026-05-05
    listed $98,500 Active 787-char remark

    Show marketing remark (787 chars)

    Here's a more refined and engaging version, keeping it concise and under 1000 characters:Don't miss this opportunity to own a side-by-side duplex in Jackson, ideal for investors or owner-occupants. This multiunit property offers two well-laid-out residences with strong rental potential. Unit 221 features a spacious multi-level design with 3 bedrooms, 1 bath, approximately 1,200 sq ft of living space, and basement access for added storage or functionality. Unit 223 offers a comfortable 2 bedroom, 1 bath lower unit with approximately 860 sq ft of living space. Both units include hardwood floors and come equipped with a stove and refrigerator. Electric is separately metered, while gas, water, and sewer are shared. A solid addition to any portfolio with immediate income potential.

20. 2023-09-30
    historical $795
21. 2023-09-18
    listed $795
22. 2023-08-19
    historical $800
23. 2023-08-03
    listed $800
24. 2023-07-29
    historical $800
25. 2023-07-21
    listed $800

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,376
• − Mortgage interest: −$4,901
• − Property taxes: −$1,312
• − Insurance: −$438
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$2,545
• Taxable income: $10,439
• Est. tax owed @ 24.0%: −$2,505
• After-tax cash flow: $8,705/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 · 12 photos

Average 55/100 Moderate rehab

This multi-family property offers two well-laid-out residences with potential for moderate renovations to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen appliances — Dated appliances may need replacement.
• Minor Landscaping — Overgrown areas need trimming and mulching.
• Minor Windows — Sealing may be needed to improve energy efficiency and reduce drafts.

Value-add opportunities

• Both New kitchen appliances — Modern appliances can attract more renters and buyers.
• Both Landscaping improvements — Aesthetic improvements can increase curb appeal and property value.
• Both Window sealing — Improved energy efficiency can reduce utility costs and attract eco-conscious buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Dated appliances may need replacement.	Minor	$500–3,000
Landscaping · Overgrown areas need trimming and mulching.	Minor	$500–3,000
Windows · Sealing may be needed to improve energy efficiency and reduce drafts.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both New kitchen appliances — Modern appliances can attract more renters and buyers. ↑
• Both Landscaping improvements — Aesthetic improvements can increase curb appeal and property value. ↑
• Both Window sealing — Improved energy efficiency can reduce utility costs and attract eco-conscious buyers/renters. ↑

ⓘ 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 Schools
• NCES district ID: 2619620
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $38,344
• Composite: 17.99/100
• National rank: #8986
• State rank: #458 of 540 in MI

Livability — Jackson

• Score: 74/100
• State rank: #197
• US rank: #4970

Category grades

Amenities C Commute A- Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, MI
• County: Jackson County · 85,581 people
• City population: 85,581
• Metro: Jackson, MI
• Population (ZIP): 36,474
• Household income: $56,201
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1383.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 156,365 people
• By 2030: 153,123 · -2.1%
• By 2040: 144,981 · -7.3%
• By 2050: 135,671 · -13.2%
• By 2075: 113,833 · -27.2%
• By 2100: 86,592 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 15% Two or more races 9% Hispanic / Latino 5%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Strong R (+21.3) · D 38.6% · R 59.9% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: 2.4pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+19.0 2016: R+20.1 2012: R+5.8 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.09%
• Current HPI: 211.5474
• Rent YoY: ▲ 7.54%
• Metro: Jackson, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-11.2% since first listed

16 events — show timeline

• 2026-06-15 Pending — REALCOMP
• 2026-06-15 Pending — MiRealSource-MiMLS
• 2026-05-27 Price Changed $87,500 REALCOMP
• 2026-05-26 Price Changed $87,500 MiRealSource-MiMLS
• 2026-05-15 Relisted — MiRealSource-MiMLS
• 2026-05-15 Relisted — REALCOMP
• 2026-05-08 Pending — REALCOMP
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-05 Listed $98,500 MiRealSource-MiMLS
• 2026-05-05 Listed $98,500 REALCOMP
• 2023-09-30 Rental Removed $795 APPFOLIO
• 2023-09-18 Listed for Rent $795 APPFOLIO
• 2023-08-19 Rental Removed $800 APPFOLIO
• 2023-08-03 Listed for Rent $800 APPFOLIO
• 2023-07-29 Rental Removed $800 APPFOLIO
• 2023-07-21 Listed for Rent $800 APPFOLIO