948 Terrace Ave · Jackson, MS 39209

$25,000

3 bd · 1.0 ba · 1,183 sqft · SingleFamily public records · 481 Days on market

Built 1953 0.30 ac lot $21/sqft · 56% below area ↓ 36% since listing

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

Listing remarks MLS

This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

Key facts

• New roof
• Updated bathroom
• 0.3 acre lot

Tags

• NEW ROOF
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.2% 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: 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: 165 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• This rent runs 38% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($173 loan paydown + $2k 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 481 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $14k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 481 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 1953 — 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: 4.62% ✓
• Cap rate: 41.18%
• Cash-on-cash: 124.59%
• DSCR: 6.54
• GRM: 1.8

CMA / ARV

• ARV (median comp): $56,483
• List price: $25,000
• Delta: -55.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3384 Casa Grande Cir	0.46mi	3/2.0	1,182 (-0%)	6mo	$90,000	$76	69
1063 Voorhees Ave	0.51mi	4/1.0 (+1)	1,235 (+4%)	4mo	$58,900	$48	61
2979 Angela Circle Cir	0.36mi	3/2.0	1,281 (+8%)	23mo	$7,500	$6	46
718 Glenmont Dr	0.60mi	3/1.0	1,071 (-10%)	20mo	$75,000	$70	40
926 Claiborne Ave	0.70mi	3/2.0	1,326 (+12%)	6mo	$90,000	$68	38

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: —
• Equity multiple: 9.56×
• Total profit: $59,931
• Equity at exit: $22,522

10-year hold

• IRR: —
• Equity multiple: 21.02×
• Total profit: $140,136
• Equity at exit: $48,570

Cash invested: $7,000 (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 39209

• Home prices YoY: 7.7%
• Active inventory: 165
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,155 high
• Mortgage (P&I): −$131
• Tax from tax record: −$44 /mo · $529/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $727

Break-even live

Break-even rent $235

Max offer price $25,000

Occupancy floor 32%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4567 Meadowmont Dr Jackson, MS	3.0	1.0	912	$800	$0.88	43d	1	0.59mi
723 Glenmont Dr Jackson, MS	3.0	1.0	1018	$1,000	$0.98	43d	1	0.65mi
3856 Noble St Jackson, MS	3.0	2.0	1357	$1,231	$0.91	23d	1	1.12mi
3856 Noble St Jackson, MS	3.0	2.0	1357	$1,231	$0.91	43d	1	1.12mi
1645 Camellia Ln Jackson, MS	3.0	2.0	1268	$1,200	$0.95	13d	1	1.12mi
1711 Robinson St Jackson, MS	2.0	1.0	800	$800	$1.00	23d	1	1.17mi
1818 Saint Charles St Jackson, MS	3.0	1.0	983	$995	$1.01	43d	1	1.24mi
309 S Denver St Jackson, MS	4.0	3.5	1500	$2,500	$1.67	43d	1	1.30mi
264 Sewanee Dr Jackson, MS	3.0	1.0	1217	$995	$0.82	23d	1	1.35mi
4539 Ritchey Dr Jackson, MS	3.0	2.0	1144	$1,250	$1.09	43d	1	1.36mi
255 S Prentiss St Jackson, MS	2.0	1.0	729	$1,000	$1.37	43d	1	1.38mi
1816 Kenmore Dr Jackson, MS	3.0	2.0	1000	$1,000	$1.00	23d	1	1.44mi

Listing history 24 events

1. 2026-06-18
   days on market $25,000 Active 481 DOM
2. 2026-06-17
   days on market $25,000 Active 480 DOM
3. 2026-06-16
   days on market $25,000 Active 479 DOM
4. 2026-06-15
   days on market $25,000 Active 478 DOM
5. 2026-06-14
   days on market $25,000 Active 476 DOM
6. 2026-06-13
   days on market $25,000 Active 475 DOM
7. 2026-06-10
   days on market $25,000 Active 473 DOM
8. 2026-06-09
   days on market $25,000 Active 472 DOM
9. 2026-06-08
   days on market $25,000 Active 471 DOM
10. 2026-06-07
    days on market $25,000 Active 470 DOM
11. 2026-06-05
    days on market $25,000 Active 467 DOM
12. 2026-06-03
    days on market $25,000 Active 466 DOM
13. 2026-06-02
    days on market $25,000 Active 465 DOM
14. 2026-06-01
    days on market $25,000 Active 464 DOM
15. 2026-05-31
    days on market $25,000 Active 463 DOM
16. 2026-05-30
    days on market $25,000 Active 462 DOM
17. 2025-10-07
    status Active 288-char remark

    Show marketing remark (288 chars)

    This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

18. 2025-07-17
    price $25,000 288-char remark

    Show marketing remark (288 chars)

    This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

19. 2025-05-28
    status Active 288-char remark

    Show marketing remark (288 chars)

    This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

20. 2025-05-15
    status Pending 288-char remark

    Show marketing remark (288 chars)

    This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

21. 2025-05-15
    historical 288-char remark

    Show marketing remark (288 chars)

    This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

22. 2024-09-18
    listed $39,000 Active 288-char remark

    Show marketing remark (288 chars)

    This 3-bedroom, 1-bath home needs some work but offers a fantastic opportunity for investors or handy buyers. With the right updates, this property has strong potential for rental income or resale. Located in an area with solid growth, it's a perfect chance to add value and build equity.

23. 1987-01-01
    soldstatus
24. 1985-02-20
    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: $529 · $44/mo
• Projected year-2 tax: $529 · $44/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: $13,860
• − Mortgage interest: −$1,400
• − Property taxes: −$529
• − Insurance: −$125
• − Repairs & maintenance: −$1,109
• − Management: −$1,109
• − Depreciation: −$727
• Taxable income: $8,860
• Est. tax owed @ 24.0%: −$2,126
• After-tax cash flow: $6,595/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

-35.9% since first listed

8 events — show timeline

• 2025-10-07 Relisted — MLSU
• 2025-07-17 Price Changed $25,000 MLSU
• 2025-05-28 Relisted — MLSU
• 2025-05-15 Pending — MLSU
• 2025-05-15 Listing Removed — MLSU
• 2024-09-18 Listed $39,000 MLSU
• 1987-01-01 Sold (Public Records) — Public Records
• 1985-02-20 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $529 · +1.3% YoY. Source: county tax records.