1235 Jacks Ave

Tunica, MS 38676

$143,000C+

3 bd · 2.0 ba · 1,400 sqft · Built 1965 · SingleFamily · Active · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,344/mo
• Mortgage (P&I): −$750
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $182/mo
• Annual: $2,185/yr
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• 1% rule: 0.94%
• Cash to close: $40,040

Investor read

• This is a 3-bed/2.0-bath single-family listed at $143k.
• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (6.0% below list).
• It's been on market 147 days — a 12% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (12.0% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($989 loan paydown + $11k appreciation (7.4% local appreciation)).
• Location reads 61/100 on livability (#207 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: employment D, schools F, amenities F.
• Tunica County School District (rural): math 13% / reading 16% proficiency, ranked #110 of 130 in MS (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 90 units permitted in Tunica County in 2024 (0 in 5+ unit buildings).
• Tunica County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago 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.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.
• 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.
• 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.