Jackson, Mississippi Investing

[Carlos Quiros]

I wanted to gain insight about this market.

How are you all doing cash flow wise, roi wise in this market. 

How much is the average turn key single family home/duplex in Jackson, MS C+/B- areas?

taxes/insurance costs?

Any insight would be helpful

[Chris Seveney]

@Carlos Quiros

I looked at Jackson several years ago. Be careful- literally street by street can be very different.

Just my opinion but not a market I would start out investing in. I would pick something better, which does equal higher acquisition cost

[Ashley C.]

It can be extremely lucrative if you know what you are doing. We are property managers, so we often get these types of questions. There certainly is a "no fly zone" for purchasing, and criteria that should be followed for a sound investment opportunity. If you don't have any trustworthy boots on the ground and you're an out of state investor you can easily get taken advantage of by contractors, real estate agents, wholesellers, etc.

I would be happy to assist and connect you with our brokerage if you're interested.

[Susan Maneck]

Quote from @Carlos Quiros:

I wanted to gain insight about this market.

How are you all doing cash flow wise, roi wise in this market. 

How much is the average turn key single family home/duplex in Jackson, MS C+/B- areas?

taxes/insurance costs?

Any insight would be helpful

 Hi Carlos, 

In terms of cash flow, Jackson can't be beat. In terms of appreciation, not so much. All of my properties are in C neighborhoods. Chris is right about it varying from street to street. But in the neighborhoods where I invest and have lived, you can still buy a 3/2 with a two-car garage on a 1/4 lot for less than 80K. Taxes and insurance are somewhat high relative to the value of the properties. There is no Prop. 13 here! Also, much of Jackson is in a flood zone, so you need flood insurance as well. Unless you are buying in the Fondren District or Bellhaven, I would avoid duplexes. They don't attract the best tenants and are often overpriced. If you want a small-multi look for a larger house with a guest house (or ADU has they call them in California) and then try to rent it to an extended family.

warmest, Susan 

[Carlos Quiros]

Is there a list of neighborhoods or areas/area map that you recommend on where to invest versus where not to invest?

I recently met an investor in Nashville who has many units in Jackson, MS which brought me here to ask more questions.

Quote from @Susan Maneck:

Quote from @Carlos Quiros:

I wanted to gain insight about this market.

How are you all doing cash flow wise, roi wise in this market. 

How much is the average turn key single family home/duplex in Jackson, MS C+/B- areas?

taxes/insurance costs?

Any insight would be helpful

 Hi Carlos, 

In terms of cash flow, Jackson can't be beat. In terms of appreciation, not so much. All of my properties are in C neighborhoods. Chris is right about it varying from street to street. But in the neighborhoods where I invest and have lived, you can still buy a 3/2 with a two-car garage on a 1/4 lot for less than 80K. Taxes and insurance are somewhat high relative to the value of the properties. There is no Prop. 13 here! Also, much of Jackson is in a flood zone, so you need flood insurance as well. Unless you are buying in the Fondren District or Bellhaven, I would avoid duplexes. They don't attract the best tenants and are often overpriced. If you want a small-multi look for a larger house with a guest house (or ADU has they call them in California) and then try to rent it to an extended family.

warmest, Susan 

[Susan Maneck]

I can tell you to avoid 39209 zip code because it's a war zone. 39204 and 39213 aren't much better. The best neighborhoods are Bellhaven, Fondren and the Northeast side (39211) but they are more expensive. I tend to favor 39212 and 39206 because properties are still relative cheap and the ROI is high. If you have questions about specific properties contact me privately and I'll tell you what I think. I'm in California now myself but I lived in Mississippi for 20 years and bought all my properties during the recession and nearly all were in walking distance from my own house.