2662 Key St · Jackson, MS 39212

$35,000

3 bd · 2.5 ba · 1,680 sqft · SingleFamily public records · 26 Days on market

Built 1956 10,018 sqft lot Est $35k · at est.

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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 +7.9/15.0
• 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

Open to all investors. 3 bed 2.5 bath home. Tenant occupied. Please do not disturb the tenants. Call a Realtor today to schedule a showing.

Key facts

• 0.23 acre lot
• Garage
• Built 1956

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $688 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 29.9% 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: Peeples Middle School (math 11% / reading 15%, grade F, #141 of 179 statewide, top 79%, 298 students, 100% FRL); Wingfield High School (math 7% / reading 12%, grade F, #179 of 197 statewide, top 92%, 608 students, 100% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 302 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $5k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.60% ✓
• Cap rate: 29.87%
• Cash-on-cash: 84.19%
• DSCR: 4.75
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $35,280
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2662 Key St	0.00mi	3/2.5	1,680 (0%)	1mo	$35,000	$21	99
2555 Belvedere Dr	0.26mi	4/1.5 (+1)	1,523 (-9%)	3mo	$19,000	$12	61
3033 Grey Blvd	0.57mi	3/1.5	1,687 (+0%)	10mo	$17,500	$10	61
941 Dorgan St	0.65mi	3/2.0	1,644 (-2%)	11mo	$35,000	$21	55
249 Woody Dr	0.67mi	3/2.0	1,604 (-4%)	8mo	$37,000	$23	52
805 Dorgan St	0.49mi	3/2.0	1,521 (-10%)	15mo	$90,000	$59	47
110 Pine Lawn Pl	0.52mi	3/2.0	1,487 (-12%)	11mo	$16,000	$11	46
3148 Sylvester Dr	0.69mi	4/2.0 (+1)	1,440 (-14%)	0mo	$59,500	$41	36
2261 Alta Woods Ter	0.67mi	3/2.0	1,485 (-12%)	24mo	$65,000	$44	28

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: 86.1%
• Equity multiple: 5.06×
• Total profit: $39,755
• Equity at exit: $5,219

10-year hold

• IRR: 89.6%
• Equity multiple: 10.99×
• Total profit: $97,882
• Equity at exit: $3,026

Cash invested: $9,800 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,259 high
• Mortgage (P&I): −$184
• Tax from tax record: −$109 /mo · $1,310/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $688

Break-even live

Break-even rent $389

Max offer price $35,000

Occupancy floor 40%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 W Santa Clair St Jackson, MS	2.0	1.0	1182	$950	$0.80	23d	1	0.40mi
201 W Santa Clair St Jackson, MS	2.0	1.0	1182	$950	$0.80	14d	1	0.40mi
843 Reaves St Jackson, MS	3.0	2.0	1408	$1,084	$0.77	43d	1	0.44mi
2401 Coronet Pl Jackson, MS	3.0	1.0	1200	$1,400	$1.17	23d	1	0.49mi
316 Woody Dr Jackson, MS	3.0	1.0	1185	$1,250	$1.05	14d	1	0.64mi
316 Woody Dr Jackson, MS	3.0	1.0	1185	$1,250	$1.05	43d	1	0.64mi
267 Woody Dr Jackson, MS	3.0	1.5	1165	$1,100	$0.94	43d	1	0.65mi
3152 Bilgray Dr Jackson, MS	3.0	1.5	1200	$1,100	$0.92	14d	1	0.87mi
3147 Bilgray Dr Jackson, MS	3.0	2.0	1850	$1,306	$0.71	43d	1	0.88mi
2729 Carleton St Jackson, MS	4.0	2.0	1666	$1,575	$0.95	14d	1	0.89mi
360 Cooper Rd Jackson, MS	4.0	2.0	1624	$1,575	$0.97	14d	1	0.98mi
1126 Barbara Ann Dr Jackson, MS	3.0	1.0	1343	$1,000	$0.74	43d	1	0.99mi
1126 Barbara Ann Dr Jackson, MS	3.0	1.0	1343	$1,000	$0.74	14d	1	0.99mi
2873 Teresa Dr Jackson, MS	3.0	1.0	1100	$1,100	$1.00	43d	1	1.02mi
1223 Marydale Dr Jackson, MS	3.0	1.0	1300	$950	$0.73	43d	1	1.06mi
2242 Castle Hill Dr Jackson, MS	4.0	2.0	1500	$1,475	$0.98	23d	1	1.06mi
2242 Castle Hill Dr Jackson, MS	4.0	2.0	1500	$1,475	$0.98	14d	1	1.06mi
245 Shady Cir Jackson, MS	3.0	2.0	1510	$1,100	$0.73	23d	1	1.06mi
1848 Willaneel Dr Jackson, MS	4.0	2.0	1623	$1,100	$0.68	14d	1	1.14mi
2732 Woodside Dr Jackson, MS	4.0	2.0	1566	$1,050	$0.67	23d	1	1.22mi
2694 Woodside Dr Jackson, MS	3.0	1.0	1509	$1,075	$0.71	23d	1	1.24mi
2694 Woodside Dr Jackson, MS	3.0	1.0	1509	$1,075	$0.71	14d	1	1.24mi
3147 Shirley Dr Jackson, MS	4.0	2.0	2137	$1,425	$0.67	14d	1	1.25mi
3147 Shirley Dr Jackson, MS	4.0	2.0	2137	$1,425	$0.67	43d	1	1.25mi
3151 Shirley Dr Jackson, MS	4.0	2.0	1474	$1,306	$0.89	14d	1	1.26mi
3030 Oak Forest Dr Jackson, MS	3.0	1.5	1200	$1,100	$0.92	43d	1	1.30mi
3030 Oak Forest Dr Jackson, MS	3.0	2.0	1200	$1,100	$0.92	14d	1	1.30mi
3511 Sykes Park Dr Jackson, MS	3.0	2.0	1225	$1,426	$1.16	14d	1	1.30mi
1513 Maria Dr Jackson, MS	3.0	2.0	1120	$1,200	$1.07	14d	1	1.32mi
1513 Maria Dr Jackson, MS	3.0	2.0	1120	$1,200	$1.07	23d	1	1.32mi
3122 Oak Forest Dr Jackson, MS	3.0	2.0	1421	$1,100	$0.77	43d	1	1.34mi
3162 Oak Forest Dr Jackson, MS	3.0	1.5	1280	$1,236	$0.97	43d	1	1.37mi
3645 Lee Dr Jackson, MS	3.0	1.0	1105	$895	$0.81	23d	1	1.43mi
3020 Lakewood Dr Jackson, MS	4.0	2.0	1600	$1,150	$0.72	23d	1	1.45mi
103 Sykes Park Cir Jackson, MS	3.0	2.0	1500	$1,250	$0.83	43d	1	1.47mi
3049 Lakewood Dr Jackson, MS	3.0	1.0	1200	$975	$0.81	43d	1	1.49mi

Listing history 15 events

1. 2026-04-28
   status Pending
2. 2026-04-15
   price $35,000
3. 2026-04-02
   listed $40,000 Active
4. 2024-10-23
   soldstatus Closed 139-char remark

   Show marketing remark (139 chars)

   Open to all investors. 3 bed 2.5 bath home. Tenant occupied. Please do not disturb the tenants. Call a Realtor today to schedule a showing.

5. 2024-10-21
   soldstatus
6. 2024-10-04
   status Pending 139-char remark

   Show marketing remark (139 chars)

   Open to all investors. 3 bed 2.5 bath home. Tenant occupied. Please do not disturb the tenants. Call a Realtor today to schedule a showing.

7. 2024-09-27
   listed $40,000 Active 139-char remark

   Show marketing remark (139 chars)

   Open to all investors. 3 bed 2.5 bath home. Tenant occupied. Please do not disturb the tenants. Call a Realtor today to schedule a showing.

8. 2010-03-04
   soldstatus
9. 2007-06-08
   soldstatus 244-char remark

   Show marketing remark (244 chars)

   FORECLOSURE SOLD AS IS WITH NO SELLER DISCLOSURE, FINANCING OR REPAIRS. GREAT INVESTMENT FOR RENTAL OR REHAB TO RESALE. $1000.00 MIN EM (HELD BY SELLING AGENT)PROOF OF FUNDS OR LETTER OF COMMITTMENT WITH OFFER. ADDENDUMS RQD WITH ACCEPTED OFFER

10. 2007-06-08
    soldstatus

    Show marketing remark (244 chars)

    FORECLOSURE SOLD AS IS WITH NO SELLER DISCLOSURE, FINANCING OR REPAIRS. GREAT INVESTMENT FOR RENTAL OR REHAB TO RESALE. $1000.00 MIN EM (HELD BY SELLING AGENT)PROOF OF FUNDS OR LETTER OF COMMITTMENT WITH OFFER. ADDENDUMS RQD WITH ACCEPTED OFFER

11. 2007-03-29
    listed $49,900 244-char remark

    Show marketing remark (244 chars)

    FORECLOSURE SOLD AS IS WITH NO SELLER DISCLOSURE, FINANCING OR REPAIRS. GREAT INVESTMENT FOR RENTAL OR REHAB TO RESALE. $1000.00 MIN EM (HELD BY SELLING AGENT)PROOF OF FUNDS OR LETTER OF COMMITTMENT WITH OFFER. ADDENDUMS RQD WITH ACCEPTED OFFER

12. 2003-09-11
    soldstatus
13. 2003-07-18
    listed $35,000
14. 1994-11-01
    soldstatus
15. 1956-03-14
    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: $1,310 · $109/mo
• Projected year-2 tax: $1,310 · $109/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 7/10 Severe 6 d/yr ≥108°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: $15,112
• − Mortgage interest: −$1,961
• − Property taxes: −$1,310
• − Insurance: −$175
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$1,018
• Taxable income: $8,230
• Est. tax owed @ 24.0%: −$1,975
• After-tax cash flow: $6,275/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

+0.0% since first listed

15 events — show timeline

• 2026-04-28 Pending — MLSU
• 2026-04-15 Price Changed $35,000 MLSU
• 2026-04-02 Listed $40,000 MLSU
• 2024-10-23 Sold (MLS) — MLSU
• 2024-10-21 Sold (Public Records) — Public Records
• 2024-10-04 Pending — MLSU
• 2024-09-27 Listed $40,000 MLSU
• 2010-03-04 Sold (Public Records) — Public Records
• 2007-06-08 Sold (Public Records) — Public Records
• 2007-06-08 Sold (MLS) — MLSU
• 2007-03-29 Listed $49,900 MLSU
• 2003-09-11 Sold (MLS) — MLSU
• 2003-07-18 Listed $35,000 MLSU
• 1994-11-01 Sold (Public Records) — Public Records
• 1956-03-14 Sold (Public Records) — Public Records

Property tax history

-0.6%/yr

Latest (2025): $1,310 · +3.2% YoY. Source: county tax records.