294 Mikell St · Jackson, MS 39212

$89,000

4 bd · 2.5 ba · 2,007 sqft · SingleFamily public records · 194 Days on market

Built 1963 0.28 ac lot $44/sqft · 76% above area ↓ 10% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you looking for a great house that needs TLC? Here it is. This 4 bedroom, 2 1/2 bath home is just over 2000 square feet in a cozy neighborhood. It has a formal living and dining room with very spacious bedrooms. There are pocket doors and beautiful wood kitchen cabinet doors. It has unique design elements and a nice back porch. Come check out 294 Mikell St. today!

Key facts

• Pocket doors
• Nice back porch
• 0.28 acre lot

Tags

• FORMAL LIVING AND DINING ROOM
• POCKET DOORS
• WOOD KITCHEN CABINET DOORS
• UNIQUE DESIGN ELEMENTS
• NICE BACK PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 9.9% in Jackson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools F, amenities F, employment 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.
• Market conditions: Rents rising fast (+4.2%/yr); 302 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/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 $615 of loan paydown is wiped out by about $3k 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 + 4.2% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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.
7. 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.
8. 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: 1.65% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.14%
• DSCR: 2.03
• GRM: 5.1

CMA / ARV

• ARV (median comp): $50,556
• List price: $89,000
• Delta: 76.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3637 Sykes Park Dr	0.48mi	4/3.0	1,952 (-3%)	14mo	$145,000	$74	60
448 Cooper Rd	0.40mi	4/2.0	2,033 (+1%)	23mo	$45,000	$22	58
201 S Sunset Ter	0.28mi	3/2.0 (-1)	1,950 (-3%)	22mo	$50,000	$26	57
275 W Leavell Woods Dr	0.37mi	3/2.0 (-1)	1,864 (-7%)	12mo	$97,500	$52	54
267 W Leavell Woods Dr	0.38mi	3/2.0 (-1)	1,747 (-13%)	3mo	$80,000	$46	51
118 W Leavell Woods Dr	0.56mi	4/3.0	2,118 (+6%)	17mo	$117,900	$56	49
312 W Leavell Woods Dr	0.40mi	3/1.0 (-1)	2,217 (+10%)	5mo	$12,600	$6	48
3246 Beatrice Dr	0.69mi	3/2.0 (-1)	1,925 (-4%)	10mo	$35,000	$18	45
210 Cooper Rd	0.32mi	3/2.0 (-1)	1,720 (-14%)	13mo	$14,700	$9	44
152 W Woodcrest Dr	0.57mi	3/2.0 (-1)	1,785 (-11%)	16mo	$97,500	$55	34

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 · 4.23% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.73×
• Total profit: $18,082
• Equity at exit: $13,270

10-year hold

• IRR: 27.0%
• Equity multiple: 3.53×
• Total profit: $63,126
• Equity at exit: $7,695

Cash invested: $24,920 (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 39212

• Home prices YoY: -11.7%
• Rents YoY: 4.2%
• Active inventory: 302
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,465 high
• Mortgage (P&I): −$467
• Tax from tax record: −$173 /mo · $2,079/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $481

Break-even live

Break-even rent $857

Max offer price $89,000

Occupancy floor 62%

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 Cooper Rd Jackson, MS	4.0	2.0	1624	$1,575	$0.97	13d	1	0.28mi
103 Sykes Park Cir Jackson, MS	3.0	2.0	1500	$1,250	$0.83	43d	1	0.49mi
140 Neatherwood Dr Jackson, MS	3.0	2.0	1450	$1,297	$0.89	13d	1	0.66mi
3147 Bilgray Dr Jackson, MS	3.0	2.0	1850	$1,306	$0.71	43d	1	0.72mi
3151 Shirley Dr Jackson, MS	4.0	2.0	1474	$1,306	$0.89	13d	1	0.94mi
3147 Shirley Dr Jackson, MS	4.0	2.0	2137	$1,425	$0.67	43d	1	0.95mi
3147 Shirley Dr Jackson, MS	4.0	2.0	2137	$1,425	$0.67	13d	1	0.95mi
3122 Oak Forest Dr Jackson, MS	3.0	2.0	1421	$1,100	$0.77	43d	1	1.09mi
2729 Carleton St Jackson, MS	4.0	2.0	1666	$1,575	$0.95	13d	1	1.23mi
3020 Lakewood Dr Jackson, MS	4.0	2.0	1600	$1,150	$0.72	23d	1	1.32mi
843 Reaves St Jackson, MS	3.0	2.0	1408	$1,084	$0.77	43d	1	1.34mi

Listing history 21 events

1. 2026-06-18
   days on market $89,000 Active 194 DOM
2. 2026-06-17
   days on market $89,000 Active 193 DOM
3. 2026-06-16
   days on market $89,000 Active 192 DOM
4. 2026-06-15
   days on market $89,000 Active 191 DOM
5. 2026-06-14
   days on market $89,000 Active 189 DOM
6. 2026-06-13
   days on market $89,000 Active 188 DOM
7. 2026-06-10
   days on market $89,000 Active 186 DOM
8. 2026-06-09
   days on market $89,000 Active 185 DOM
9. 2026-06-08
   days on market $89,000 Active 184 DOM
10. 2026-06-07
    days on market $89,000 Active 183 DOM
11. 2026-06-05
    days on market $89,000 Active 180 DOM
12. 2026-06-03
    days on market $89,000 Active 179 DOM
13. 2026-06-02
    days on market $89,000 Active 178 DOM
14. 2026-06-01
    days on market $89,000 Active 177 DOM
15. 2026-05-31
    days on market $89,000 Active 176 DOM
16. 2026-05-30
    days on market $89,000 Active 175 DOM
17. 2026-05-11
    status Active 374-char remark

    Show marketing remark (374 chars)

    Are you looking for a great house that needs TLC? Here it is. This 4 bedroom, 2 1/2 bath home is just over 2000 square feet in a cozy neighborhood. It has a formal living and dining room with very spacious bedrooms. There are pocket doors and beautiful wood kitchen cabinet doors. It has unique design elements and a nice back porch. Come check out 294 Mikell St. today!

18. 2026-05-01
    status Pending 374-char remark

    Show marketing remark (374 chars)

    Are you looking for a great house that needs TLC? Here it is. This 4 bedroom, 2 1/2 bath home is just over 2000 square feet in a cozy neighborhood. It has a formal living and dining room with very spacious bedrooms. There are pocket doors and beautiful wood kitchen cabinet doors. It has unique design elements and a nice back porch. Come check out 294 Mikell St. today!

19. 2026-02-25
    price $89,000 374-char remark

    Show marketing remark (374 chars)

    Are you looking for a great house that needs TLC? Here it is. This 4 bedroom, 2 1/2 bath home is just over 2000 square feet in a cozy neighborhood. It has a formal living and dining room with very spacious bedrooms. There are pocket doors and beautiful wood kitchen cabinet doors. It has unique design elements and a nice back porch. Come check out 294 Mikell St. today!

20. 2025-11-26
    listed $99,000 Active 374-char remark

    Show marketing remark (374 chars)

    Are you looking for a great house that needs TLC? Here it is. This 4 bedroom, 2 1/2 bath home is just over 2000 square feet in a cozy neighborhood. It has a formal living and dining room with very spacious bedrooms. There are pocket doors and beautiful wood kitchen cabinet doors. It has unique design elements and a nice back porch. Come check out 294 Mikell St. today!

21. 1964-02-28
    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: $2,079 · $173/mo
• Projected year-2 tax: $2,079 · $173/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 5/10 Major FEMA zone X (unshaded) · 52% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 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: $17,584
• − Mortgage interest: −$4,985
• − Property taxes: −$2,079
• − Insurance: −$445
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$2,589
• Taxable income: $4,672
• Est. tax owed @ 24.0%: −$1,121
• After-tax cash flow: $4,646/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): 25,659
• Household income: $50,722
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1314.0

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: Predominantly Black (86%)
• Race & ethnicity: Black 86% White 9% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% 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: ▼ -23.01%
• Current HPI: 174.4025
• Rent YoY: ▲ 4.23%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-10.1% since first listed

5 events — show timeline

• 2026-05-11 Relisted — MLSU
• 2026-05-01 Pending — MLSU
• 2026-02-25 Price Changed $89,000 MLSU
• 2025-11-26 Listed $99,000 MLSU
• 1964-02-28 Sold (Public Records) — Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,079 · +1.9% YoY. Source: county tax records.