803 N Congress St · Jackson, MS 39202

$275,000

4 bd · 4.0 ba · 3,458 sqft · MultiFamily public records · 5 Days on market

Built 1937 4,791 sqft lot

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Why this score? — see what drove the D+ 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Incredible opportunity to own a cash flowing piece of Jackson history! Act now! This Four-plex of one bedroom, one bathroom units, could easily be used at two bedroom, one bathroom units (it will immediately make sense when you see it in person). Currently the units are rented at $950 for each of the downstairs units (as they each have washer and dryer in each of their respective units), and upstairs each rent for $900 (as these two units share washer and dryer). All units come with stoves and refrigerators, all appliances are included. Sewer line, and much of the plumbing to the building were just replaced, and it's got a nice looking newer roof on it. TAXES: Property taxes for 2026 are

Key facts

• Newer roof
• Sewer line replaced
• 4,791 sq ft lot

Tags

• WASHER AND DRYER IN EACH UNIT
• SEWER LINE REPLACED
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive. Per door: $131/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (0.4% below list).
• Recommended offer: $274k (0.4% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 9.9% in Jackson — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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 (+5.9%/yr); 40 active listings in the ZIP; lower-income renter base — watch delinquency; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).
• At $2,738/mo this rent would consume 85% of the median local household income ($39k/yr) (locally 628% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 19y ago; this cycle's ask is 28847% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $273,800 (0.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-19,548
• Equity at exit: $41,003

10-year hold

• IRR: 6.2%
• Equity multiple: 1.53×
• Total profit: $40,617
• Equity at exit: $23,777

Cash invested: $77,000 (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 39202

• Home prices YoY: -23.3%
• Rents YoY: 5.9%
• Active inventory: 40
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $2,738 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $263

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 85%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,738
Total (2 units)			$2,738

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-01
   listed $950
2. 2026-04-01
   historical $900
3. 2026-03-20
   listed $900
4. 2026-03-20
   historical $900
5. 2026-03-20
   historical $900
6. 2026-03-20
   listed $900
7. 2026-02-25
   status Pending
8. 2026-02-20
   listed $275,000 Active
9. 2026-02-06
   listed $900
10. 2025-01-29
    status Pending
11. 2025-01-29
    historical
12. 2024-12-03
    status Active
13. 2024-12-01
    historical
14. 2024-07-10
    price $253,500
15. 2024-07-10
    status Active
16. 2024-07-01
    historical
17. 2024-06-25
    price $269,000
18. 2024-05-29
    price $284,000
19. 2024-04-03
    listed $315,000 Active
20. 2021-09-17
    historical
21. 2007-01-15
    listed $249,000
22. 2004-07-09
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 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: $32,856
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,628
• − Management: −$2,628
• − Depreciation: −$8,000
• Taxable loss: −$1,305
• Est. tax savings @ 24.0%: +$313
• After-tax cash flow: $3,464/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): 6,832
• Household income: $38,554
• Rent vs Own: 67.5% rent · 32.5% own
• Severe rent burden: 628.0

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: Majority Black (54%)
• Race & ethnicity: Black 54% White 41% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% 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: ▼ -44.29%
• Current HPI: 145.4466
• Rent YoY: ▲ 5.91%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+10.4% since first listed

22 events — show timeline

• 2026-05-01 Listed for Rent $950 MLSU
• 2026-04-01 Rental Removed $900 MLSU
• 2026-03-20 Listed for Rent $900 MLSU
• 2026-03-20 Rental Removed $900 MLSU
• 2026-03-20 Rental Removed $900 MLSU
• 2026-03-20 Listed for Rent $900 MLSU
• 2026-02-25 Pending — MLSU
• 2026-02-20 Listed $275,000 MLSU
• 2026-02-06 Listed for Rent $900 MLSU
• 2025-01-29 Pending — MLSU
• 2025-01-29 Listing Removed — MLSU
• 2024-12-03 Relisted — MLSU
• 2024-12-01 Listing Removed — MLSU
• 2024-07-10 Price Changed $253,500 MLSU
• 2024-07-10 Relisted — MLSU
• 2024-07-01 Listing Removed — MLSU
• 2024-06-25 Price Changed $269,000 MLSU
• 2024-05-29 Price Changed $284,000 MLSU
• 2024-04-03 Listed $315,000 MLSU
• 2021-09-17 Listing Removed — MLSU
• 2007-01-15 Listed $249,000 MLSU
• 2004-07-09 Sold (Public Records) — Public Records