1101/1102 Jamestown Way

Jackson, MS 39211

$214,000C+

6 bd · 4.0 ba · 2,600 sqft · Built 1978 · MultiFamily · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,031/mo
• Mortgage (P&I): −$1,122
• Tax + insurance: −$357
• HOA: −$0
• Vac / Maint / Mgmt: −$637
• Net cashflow: $916/mo
• Annual: $10,987/yr
• Cap rate: 11.43%
• Cash-on-cash: 18.34%
• DSCR: 1.82
• 1% rule: 1.42%
• Cash to close: $59,920

Investor read

• This is a 2 × 3.0-bed/2.0-bath units multifamily listed at $214k. Condition is rated fair.
• At list price, monthly cash flow is $916 ($11k/yr) — positive. Per door: $458/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $214k).
• It's been on market 39 days — a 3% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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: Boyd Elementary School (math 0% / reading 9%, grade F, #368 of 375 statewide, top 98%, 405 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 (+7.9%/yr); 221 active listings in the ZIP; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).
• Hinds County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $60k cash investment doubles in ~6 years — after that, you're playing with house money.
• At $3,031/mo this rent would consume 52% of the median local household income ($69k/yr) (locally 736% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn and dated appearance.
• Moderate: Bathroom fixtures — Dated and worn appearance.
• Moderate: Exterior siding — Some discoloration and wear.
• Moderate: Interior walls — Some discoloration and wear.
• Moderate: Windows — Some discoloration and wear.
• Moderate: Landscaping — Basic landscaping with a small front yard and driveway.