1098 N Royal St · Jackson, TN 38301

$89,000

None bd · 2.0 ba · 1,602 sqft · MultiFamily public records · 120 Days on market

Built 1929 0.28 ac lot Est $128k · 31% under

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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 +3.8/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Attention all investors. Duplex with 1 bedroom and 1 bathroom in each unit. Roof installed 2024. Vinyl siding installed 2026. Long term tenants in place. There is another building on the property that easily can be 1-2 bedrooms that needs to be finished. Work has already been started. MUST HAVE APPOINTMENT. 24 Hour notice required!

Key facts

• Roof installed
• 0.28 acre lot
• 4 parking spots

Tags

• ROOF INSTALLED
• VINYL SIDING INSTALLED

Property features AI

Finance

• Financial info: Two rental units (total rent reported $1,200; actual rent listed as $600 per unit)

Exterior

• Parking: 4 outdoor parking spaces
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Duplex residential income property; One-level / single-story
• Construction: Vinyl siding
• Exterior features: Covered front porch; Guest house on the property; Road frontage on a city street; Publicly maintained road access

Interior

• Kitchen: Refrigerator
• Flooring: Hardwood floors; Linoleum; Vinyl flooring
• Bathrooms: 2 bathrooms
• Interior features: Refrigerator included

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $89k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $555/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 3.5% 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 62/100 on livability (#216 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Madison County (urban): math 10% / reading 17% proficiency, ranked #131 of 139 in TN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.2%/yr); 253 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 247 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• At $2,112/mo this rent would consume 59% of the median local household income ($43k/yr) (locally 1701% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $89k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% 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 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.37% ✓
• Cap rate: 21.27%
• Cash-on-cash: 53.48%
• DSCR: 3.38
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $128,160
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1098 N Royal St	0.00mi	—/12.0	1,602 (0%)	0mo	$75,000	$47	80
217 Walnut Street St	0.65mi	2/2.0	1,467 (-8%)	13mo	$143,000	$97	45
220 Division Ave	0.75mi	—/—	1,470 (-8%)	13mo	$55,000	$37	41
120 Laconte St	0.73mi	6/2.0	1,767 (+10%)	16mo	$141,667	$80	36

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 · 5.19% rent growth · sell at horizon

5-year hold

• IRR: 54.0%
• Equity multiple: 3.45×
• Total profit: $61,059
• Equity at exit: $13,270

10-year hold

• IRR: 59.9%
• Equity multiple: 7.61×
• Total profit: $164,639
• Equity at exit: $7,695

Cash invested: $24,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 38301

• Rents YoY: 5.2%
• Active inventory: 253
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,112 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$54 /mo · $650/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $1,111

Break-even live

Break-even rent $706

Max offer price $89,000

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,112
Total (2 units)			$2,112

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Jackson Walk Plz Jackson, TN	1.0–3.0	1.0–2.5	1082	$1,868	$1.73	43d	1	1.25mi
100 Parkridge Dr Jackson, TN	1.0–3.0	1.0–2.0	1085	$1,237	$1.14	43d	10	1.43mi

Listing history 6 events

1. 2026-05-09
   status Pending
2. 2026-03-30
   price $89,000
3. 2026-03-12
   price $99,000
4. 2026-01-26
   price $109,900
5. 2026-01-10
   listed $119,900 Active
6. 2017-08-03
   soldstatus $40,000

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

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $650 · $54/mo
• Projected year-2 tax: $650 · $54/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 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $25,344
• − Mortgage interest: −$4,985
• − Property taxes: −$650
• − Insurance: −$445
• − Repairs & maintenance: −$2,028
• − Management: −$2,028
• − Depreciation: −$2,589
• Taxable income: $12,619
• Est. tax owed @ 24.0%: −$3,029
• After-tax cash flow: $10,297/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: Madison County
• NCES district ID: 4702580
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $42,015
• Composite: 11.74/100
• National rank: #9687
• State rank: #131 of 139 in TN

Livability — Jackson

• Score: 62/100
• State rank: #216
• US rank: #16488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, TN
• County: Madison County · 87,024 people
• City population: 87,024
• Metro: Jackson, TN
• Population (ZIP): 33,536
• Household income: $43,227
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1701.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 95,952 people
• By 2030: 94,264 · -1.8%
• By 2040: 89,607 · -6.6%
• By 2050: 84,133 · -12.3%
• By 2075: 72,215 · -24.7%
• By 2100: 62,062 · -35.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 50% White 42% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Serbian 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: R (+18.2) · D 40.3% · R 58.5% · Other 1.2%
• 2008→2024 swing: +3.4pp toward D · 2008: -21.6pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+12.9 2016: R+15.6 2012: R+8.9 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.26%
• Current HPI: 162.2273
• Rent YoY: ▲ 5.19%
• Metro: Jackson, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

+122.5% since first listed

6 events — show timeline

• 2026-05-09 Pending — CWTAR
• 2026-03-30 Price Changed $89,000 CWTAR
• 2026-03-12 Price Changed $99,000 CWTAR
• 2026-01-26 Price Changed $109,900 CWTAR
• 2026-01-10 Listed $119,900 CWTAR
• 2017-08-03 Sold (Public Records) $40,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $650 · +0.2% YoY. Source: county tax records.