256 Iris Ave · Jackson, MS 39206

$75,000

3 bd · 2.0 ba · 1,432 sqft · SingleFamily public records · 65 Days on market

Built 1952 0.43 ac lot $52/sqft · at area comps Est $72k · 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 +5.4/15.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property at 256 Iris Street is currently tenant-occupied, generating $975 per month in rental income, making it a turnkey addition to any investor's portfolio. Property Highlights: Steady rental income - already cash flowing Tenant in place - immediate return on investment Convenient Jackson location Ideal for both new and seasoned investors Whether you're looking to expand your rental portfolio or secure a property with built-in income, this home offers strong potential and consistent returns.

Key facts

• 0.43 acre lot
• Garage
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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: Rents rising (+2.8%/yr); 119 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 167 units permitted in Hinds County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 + 2.8% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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: 2.00% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.78%
• DSCR: 2.59
• GRM: 4.2

CMA / ARV

• ARV (median comp): $71,624
• List price: $75,000
• Delta: 4.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Pine Ridge Rd	0.31mi	3/1.5	1,421 (-1%)	5mo	$124,900	$88	78
130 Wacker Dr	0.16mi	3/1.0	1,302 (-9%)	1mo	$35,000	$27	73
670 Piermont St	0.53mi	4/2.0 (+1)	1,467 (+2%)	3mo	$79,900	$54	64
4816 Maplewood Dr	0.51mi	3/2.0	1,510 (+5%)	6mo	$76,720	$51	62
684 Heather Ln	0.63mi	3/1.5	1,400 (-2%)	6mo	$50,000	$36	60
134 Wacker Dr	0.14mi	3/1.0	1,218 (-15%)	6mo	$70,000	$57	60
415 E Northside Dr	0.71mi	4/2.0 (+1)	1,486 (+4%)	1mo	$50,000	$34	55
4858 Sheridan Dr	0.59mi	3/2.0	1,264 (-12%)	2mo	$123,000	$97	51
4636 Normandy Dr	0.62mi	4/2.0 (+1)	1,556 (+9%)	5mo	$39,900	$26	48
729 Heather Ln	0.66mi	3/1.0	1,570 (+10%)	6mo	$70,000	$45	44
4560 Kirkley Cir	0.73mi	4/2.5 (+1)	1,585 (+11%)	4mo	$139,900	$88	38
540 Meadowview Dr	0.71mi	4/2.0 (+1)	1,610 (+12%)	6mo	$69,000	$43	36

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 · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 2.31×
• Total profit: $27,521
• Equity at exit: $11,183

10-year hold

• IRR: 38.4%
• Equity multiple: 4.55×
• Total profit: $74,466
• Equity at exit: $6,485

Cash invested: $21,000 (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 39206

• Home prices YoY: -10.3%
• Rents YoY: 2.8%
• Active inventory: 119
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,501 high
• Mortgage (P&I): −$393
• Tax from tax record: −$135 /mo · $1,622/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $626

Break-even live

Break-even rent $708

Max offer price $75,000

Occupancy floor 53%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4833 N State St Jackson, MS	3.0	2.0	994	$1,195	$1.20	43d	1	0.29mi
612 Heather Ln Jackson, MS	4.0	2.0	1642	$1,675	$1.02	23d	1	0.56mi
4858 Sheridan Dr Jackson, MS	3.0	2.0	1300	$1,550	$1.19	23d	1	0.60mi
214 Melbourne Rd Jackson, MS	3.0	2.0	1207	$1,500	$1.24	43d	1	0.60mi
220 Melbourne Rd Jackson, MS	4.0	2.0	1744	$1,350	$0.77	43d	1	0.60mi
320 Lawrence Rd Jackson, MS	4.0	2.0	1270	$1,400	$1.10	13d	1	0.60mi
320 Lawrence Rd Jackson, MS	4.0	1.5	1270	$1,400	$1.10	23d	1	0.60mi
341 E Northside Dr Jackson, MS	4.0	2.0	1732	$1,775	$1.02	23d	1	0.66mi
200 Stillwood Dr Jackson, MS	3.0	2.0	1088	$1,300	$1.19	43d	1	0.67mi
200 Stillwood Dr Jackson, MS	3.0	2.0	1088	$1,300	$1.19	13d	1	0.67mi
815 Berwood Dr Jackson, MS	3.0	2.0	1248	$1,300	$1.04	43d	1	0.68mi
508 Benning Rd Jackson, MS	4.0	2.0	1216	$1,400	$1.15	13d	1	0.68mi
508 Benning Rd Jackson, MS	4.0	2.0	1216	$1,400	$1.15	43d	1	0.68mi
521 Launcelot Rd Jackson, MS	3.0	2.0	1346	$1,423	$1.06	43d	1	0.69mi
3718 Northbrook Dr Jackson, MS	2.0	1.0	942	$1,050	$1.11	23d	1	0.74mi
4426 Desoto St Jackson, MS	3.0	1.0	1079	$1,250	$1.16	13d	1	0.76mi
4426 Desoto St Jackson, MS	3.0	1.0	1079	$1,250	$1.16	23d	1	0.76mi
701 Cedarhurst Dr Jackson, MS	4.0	2.0	1419	$1,250	$0.88	23d	1	0.83mi
3811 Mosley Ave Jackson, MS	2.0	1.0	1000	$1,095	$1.09	21d	1	0.91mi
533 Stillwood Dr Jackson, MS	2.0	1.0	906	$820	$0.91	13d	1	0.94mi
963 Pine Lake Dr Jackson, MS	3.0	1.5	1196	$1,050	$0.88	43d	1	0.94mi
4091 Pine Hill Dr Jackson, MS	3.0	2.0	1551	$3,000	$1.93	23d	1	1.04mi
5255 Manhattan Rd Jackson, MS	1.0–2.0	1.0–2.0	813	$1,100	$1.35	13d	1	1.05mi
4627 Estelle Dr Jackson, MS	3.0	2.0	1489	$1,475	$0.99	23d	1	1.05mi
724 Meadowbrook Rd Jackson, MS	3.0	2.0	1593	$2,150	$1.35	43d	1	1.05mi
4220 Council Cir Jackson, MS	3.0	2.5	1780	$1,850	$1.04	23d	1	1.13mi
4056 Redwing Ave Jackson, MS	3.0	2.0	1678	$1,850	$1.10	43d	1	1.18mi
4901 McWillie Cir Jackson, MS	1.0–2.0	1.0–2.0	806	$1,150	$1.43	13d	1	1.25mi
5421 Crepe Myrtle Dr Jackson, MS	4.0	1.5	1079	$1,295	$1.20	23d	1	1.26mi
20 N Hill Pkwy Jackson, MS	1.0–3.0	1.0–2.5	1046	$1,100	$1.05	13d	31	1.36mi

Listing history 24 events

1. 2026-06-18
   days on market $75,000 Active 65 DOM
2. 2026-06-17
   days on market $75,000 Active 64 DOM
3. 2026-06-16
   days on market $75,000 Active 63 DOM
4. 2026-06-15
   days on market $75,000 Active 62 DOM
5. 2026-06-14
   days on market $75,000 Active 60 DOM
6. 2026-06-13
   days on market $75,000 Active 59 DOM
7. 2026-06-10
   days on market $75,000 Active 57 DOM
8. 2026-06-09
   days on market $75,000 Active 56 DOM
9. 2026-06-08
   days on market $75,000 Active 55 DOM
10. 2026-06-07
    days on market $75,000 Active 54 DOM
11. 2026-06-05
    days on market $75,000 Active 51 DOM
12. 2026-06-03
    days on market $75,000 Active 50 DOM
13. 2026-06-02
    days on market $75,000 Active 49 DOM
14. 2026-06-01
    days on market $75,000 Active 48 DOM
15. 2026-05-31
    days on market $75,000 Active 47 DOM
16. 2026-05-30
    days on market $75,000 Active 46 DOM
17. 2026-05-11
    status Pending 516-char remark

    Show marketing remark (516 chars)

    This property at 256 Iris Street is currently tenant-occupied, generating $975 per month in rental income, making it a turnkey addition to any investor's portfolio. Property Highlights: Steady rental income - already cash flowing Tenant in place - immediate return on investment Convenient Jackson location Ideal for both new and seasoned investors Whether you're looking to expand your rental portfolio or secure a property with built-in income, this home offers strong potential and consistent returns.

18. 2026-03-28
    listed $75,000 Active 516-char remark

    Show marketing remark (516 chars)

    This property at 256 Iris Street is currently tenant-occupied, generating $975 per month in rental income, making it a turnkey addition to any investor's portfolio. Property Highlights: Steady rental income - already cash flowing Tenant in place - immediate return on investment Convenient Jackson location Ideal for both new and seasoned investors Whether you're looking to expand your rental portfolio or secure a property with built-in income, this home offers strong potential and consistent returns.

19. 2025-02-04
    historical
20. 2024-09-27
    listed $64,000 Active
21. 2019-02-27
    soldstatus
22. 2018-10-31
    soldstatus
23. 1997-04-21
    soldstatus
24. 1987-01-27
    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: $1,622 · $135/mo
• Projected year-2 tax: $1,622 · $135/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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,013
• − Mortgage interest: −$4,201
• − Property taxes: −$1,622
• − Insurance: −$375
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$2,182
• Taxable income: $6,752
• Est. tax owed @ 24.0%: −$1,620
• After-tax cash flow: $5,894/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): 23,257
• Household income: $42,686
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1554.0

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 (85%)
• Race & ethnicity: Black 85% White 9% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -22.38%
• Current HPI: 194.5873
• Rent YoY: ▲ 2.83%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+17.2% since first listed

8 events — show timeline

• 2026-05-11 Pending — MLSU
• 2026-03-28 Listed $75,000 MLSU
• 2025-02-04 Listing Removed — MLSU
• 2024-09-27 Listed $64,000 MLSU
• 2019-02-27 Sold (Public Records) — Public Records
• 2018-10-31 Sold (Public Records) — Public Records
• 1997-04-21 Sold (Public Records) — Public Records
• 1987-01-27 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,622 · +1.5% YoY. Source: county tax records.