423 Willaman St · Jackson, MS 39209

$32,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 22 Days on market

Built 1949 7,405 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

Freshly renovated and full of charm, this 2-bedroom, 1-bath home offers comfortable living with a spacious backyard perfect for relaxing or entertaining. Features include a full kitchen and a convenient washer and dryer closet. Currently tenant-occupied, this property is a fantastic opportunity for investors seeking immediate rental income. Please do not disturb the tenant.

Key facts

• Full kitchen
• Spacious backyard
• 7,405 sq ft lot

Tags

• SPACIOUS BACKYARD
• FULL KITCHEN
• WASHER AND DRYER CLOSET

Property features AI

Exterior

• Parking: Attached carport; Carport (1 space); 1-car garage; Paved parking
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single Family Residence; House; One story; Conventional entry/foundation
• Construction: Siding construction; Shingle roof; Conventional foundation; Built (year per assessor)
• Exterior features: Back yard fencing; Awning(s)

Interior

• Kitchen: Refrigerator; Natural gas available in kitchen
• Bedrooms: One level home
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Awning(s)
• Laundry & utility: Utilities include electricity and natural gas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $60 ($721/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $32k).
• Recommended offer: $32k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.5% 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: Pecan Park Elementary School (math 3% / reading 15%, grade F, #332 of 375 statewide, top 88%, 463 students, 100% FRL); Blackburn Middle School (math 9% / reading 11%, grade F, #152 of 179 statewide, top 88%, 614 students, 100% FRL); Provine High School (math 4% / reading 15%, grade F, #179 of 197 statewide, top 92%, 774 students, 100% FRL).
• Market conditions: 165 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($221 loan paydown + $3k appreciation (10.0% local appreciation)).
• Hinds County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 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: flood insurance adds $427/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,520 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.87% ✓
• Cap rate: 24.54%
• Cash-on-cash: 65.17%
• DSCR: 3.90
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $19,200
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 Sollitt St	0.17mi	2/1.0	753 (-2%)	1mo	$15,000	$20	88
4204 Halsey Ave	0.13mi	2/1.0	700 (-9%)	16mo	$24,000	$34	66
4308 Patch Ave	0.40mi	2/1.0	772 (+0%)	20mo	$19,500	$25	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 3.40×
• Total profit: $21,543
• Equity at exit: $28,828

10-year hold

• IRR: 26.6%
• Equity multiple: 7.81×
• Total profit: $61,003
• Equity at exit: $62,169

Cash invested: $8,960 (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 39209

• Home prices YoY: 7.7%
• Active inventory: 165
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $920 high
• Mortgage (P&I): −$168
• Tax from tax record: −$59 /mo · $708/yr
• Insurance: −$13
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $60

Break-even live

Break-even rent $844

Max offer price $32,000

Occupancy floor 88%

Sensitivity live

Price	-10% $78	-5% $69	+0% $60	+5% $51	+10% $42
Rent	-10% $-13	-5% $24	+0% $60	+5% $96	+10% $133
Rate	-1.0pp $76	-0.5pp $68	base $60	+0.5pp $52	+1.0pp $43

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3875 South Dr Jackson, MS	1.0	1.5	700	$900	$1.29	15d	1	0.08mi
205 Lindsey Dr Jackson, MS	2.0	1.0	676	$850	$1.26	45d	1	0.11mi
723 Glenmont Dr Jackson, MS	3.0	1.0	1018	$1,000	$0.98	45d	1	0.75mi
4567 Meadowmont Dr Jackson, MS	3.0	1.0	912	$800	$0.88	45d	1	0.76mi
2840 Robinson St Jackson, MS	1.0	1.0	702	$995	$1.42	24d	1	0.87mi
2840 Robinson St Jackson, MS	1.0	1.0	750	$1,040	$1.39	45d	1	0.87mi
1818 Saint Charles St Jackson, MS	3.0	1.0	983	$995	$1.01	45d	1	1.24mi

Listing history 5 events

1. 2026-05-01
   status Pending
2. 2026-04-10
   status Active
3. 2026-03-03
   historical
4. 2026-03-02
   listed $32,000 Active
5. 1978-11-10
   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: $708 · $59/mo
• Projected year-2 tax: $708 · $59/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥109°F today · 18 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: $11,039
• − Mortgage interest: −$1,792
• − Property taxes: −$708
• − Insurance: −$5,278
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$931
• Taxable income: $563
• Est. tax owed @ 24.0%: −$135
• After-tax cash flow: $586/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): 25,776
• Household income: $36,344
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1627.0

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 (90%)
• Race & ethnicity: Black 90% White 7% Two or more races 2% Hispanic / Latino 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▲ 22.28%
• Current HPI: 312.6754
• Rent YoY: —
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

5 events — show timeline

• 2026-05-01 Pending — MLSU
• 2026-04-10 Relisted — MLSU
• 2026-03-03 Listing Removed — MLSU
• 2026-03-02 Listed $32,000 MLSU
• 1978-11-10 Sold (Public Records) — Public Records

Property tax history

+0.9%/yr

Latest (2025): $708 · +0.4% YoY. Source: county tax records.