8467 Crazy Horse Cv · Hernando, MS 38632

$249,900

3 bd · 2.0 ba · 1,420 sqft · SingleFamily public records · 43 Days on market

Built 1975 0.39 ac lot $176/sqft · at area comps Est $260k · at est. $19/mo HOA · 1% of rent

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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 +12.5/30.0
• ARV discount +9.3/15.0
• Schools +4.0/10.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS ADORABLE LAKEHOUSE RESTS UPON A GOOD SIZED, PARTIALLY TREED LOT WITH GOOD LAKE FRONTAGE. THE EXTERIOR IS LOW MAINTENANCE BRICK AND VINYL. THE INTERIOR COMES COMPLETE WITH FRESH BERBER CARPET,HARDWOOD FLOOR ENTRY, AND PLEASING PAINT AND WALLPAPERED WALL. SOME AMENITIES INCLUDE: CEILING FANS, A NICE SIZED WASH ROOM, SCREENED-IN BACK PORCH, 2 YEAR OLD OVEN AND MICROWAVE, LARGE ROOMS, AND A SEAWALL. MUST SEE TO REALLY APPRECIATE!!!

Key facts

• 0.39 acre lot
• Garage
• Pool

Property features AI

Finance

• HOA & community: Community association with $225 annual fee; Association covers accounting/legal, insurance, grounds maintenance, management, and pool service; Community amenities: boating, clubhouse, fishing, golf, lake, playground, pool, senior community

Exterior

• Parking: Attached garage; 2-space carport; Driveway with concrete surface
• Security: Deadbolt locks
• Utilities: Septic tank; Public/community water; Cable available; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single-family house; One story; Move-in ready
• Construction: Vinyl, brick, and siding exterior; Three-tab shingle roof; Slab foundation; Built (year source: assessor)
• Exterior features: Deck; Front porch; Rear porch; Screened porch; Dock; Shed(s); Private in-ground vinyl pool (fenced); Lakefront with lake view; Landscaped yard with many trees; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Microwave; Water heater
• Bedrooms: Primary bedroom (Main level); Two additional bedrooms (Main level)
• Flooring: Luxury vinyl; Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans; Gas (for cooling system connection noted)
• Interior features: Bookcases; Ceiling fans; Crown molding; Eat-in kitchen; High-speed internet; Laminate countertops; Primary suite on main level; Sliding doors; Storm door(s); Deadbolt locks; Living room fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-38 ($-460/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (13.5% below list).
• Recommended offer: $216k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.2% in Hernando — 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 70/100 on livability (#44 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Desoto County School District (suburban): math 48% / reading 42% proficiency, ranked #20 of 130 in MS (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Grove Central Elementary (math 63% / reading 60%, grade B, #22 of 375 statewide, top 6%, 787 students, 100% FRL); Hernando Middle School (math 75% / reading 57%, grade A-, #2 of 179 statewide, top 1%, 1,150 students, 100% FRL); Hernando High School (math 69% / reading 62%, grade B, #2 of 197 statewide, top 1%, 1,419 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 64% at this address vs 45% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Desoto County School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.4%/yr); 403 active listings in the ZIP; solid renter incomes; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• DeSoto County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y 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

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,162 (13.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 0.86% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.66%
• DSCR: 0.97
• GRM: 9.6

CMA / ARV

• ARV (median comp): $260,445
• List price: $249,900
• Delta: -4.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1161 S Thunderbird Dr	0.67mi	3/2.0	1,450 (+2%)	1mo	$264,900	$183	64
793 Chickadee Cv	0.42mi	3/2.0	1,400 (-1%)	18mo	$205,000	$146	63
8819 Howling Fox Cv	0.34mi	2/2.5 (-1)	1,397 (-2%)	16mo	$275,000	$197	61
537 Thunderbird Dr	0.25mi	2/2.0 (-1)	1,258 (-11%)	4mo	$250,000	$199	61
8671 Bob White Dr	0.23mi	3/2.0	1,600 (+13%)	9mo	$259,000	$162	61
8647 E Thunderbird Dr	0.47mi	3/2.0	1,322 (-7%)	18mo	$239,900	$181	52
8953 S Thunderbird Dr	0.51mi	3/2.0	1,521 (+7%)	19mo	$275,000	$181	48
573 S Thunderbird Dr	0.55mi	3/2.0	1,325 (-7%)	18mo	$269,900	$204	48
1475 Thunderbird Drive North	0.68mi	3/2.5	1,484 (+4%)	17mo	$269,900	$182	45
1405 N Thunderbird	0.59mi	3/2.0	1,550 (+9%)	20mo	$314,900	$203	41
296 Thunderbird Dr N	0.43mi	4/2.0 (+1)	1,261 (-11%)	21mo	$239,900	$190	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.30×
• Total profit: $-49,226
• Equity at exit: $37,261

10-year hold

• IRR: -23.1%
• Equity multiple: -0.00×
• Total profit: $-70,310
• Equity at exit: $21,607

Cash invested: $69,972 (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 38632

• Home prices YoY: -31.8%
• Rents YoY: -0.4%
• Active inventory: 403
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,162 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$19
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $-38

Break-even live

Break-even rent $2,210

Max offer price $244,355

Occupancy floor 97%

Sensitivity live

Price	-10% $134	-5% $48	+0% $-38	+5% $-125	+10% $-211
Rent	-10% $-209	-5% $-124	+0% $-38	+5% $47	+10% $132
Rate	-1.0pp $88	-0.5pp $25	base $-38	+0.5pp $-103	+1.0pp $-169

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $19 · $228/yr

Listing history 24 events

1. 2026-06-18
   days on market $249,900 Active 43 DOM
2. 2026-06-17
   days on market $249,900 Active 42 DOM
3. 2026-06-16
   days on market $249,900 Active 41 DOM
4. 2026-06-15
   days on market $249,900 Active 40 DOM
5. 2026-06-13
   days on market $249,900 Active 38 DOM
6. 2026-06-10
   days on market $249,900 Active 35 DOM
7. 2026-06-09
   days on market $249,900 Active 34 DOM
8. 2026-06-08
   days on market $249,900 Active 33 DOM
9. 2026-06-07
   days on market $249,900 Active 32 DOM
10. 2026-06-03
    days on market $249,900 Active 28 DOM
11. 2026-06-02
    days on market $249,900 Active 27 DOM
12. 2026-06-01
    days on market $249,900 Active 26 DOM
13. 2026-05-31
    days on market $249,900 Active 25 DOM
14. 2026-05-06
    listed $255,000 Active 683-char remark
15. 2025-11-24
    historical
16. 2025-09-29
    price $251,900
17. 2025-09-05
    price $254,400
18. 2025-08-14
    listed $256,900 Active
19. 2004-01-30
    soldstatus

    Show marketing remark (436 chars)

    THIS ADORABLE LAKEHOUSE RESTS UPON A GOOD SIZED, PARTIALLY TREED LOT WITH GOOD LAKE FRONTAGE. THE EXTERIOR IS LOW MAINTENANCE BRICK AND VINYL. THE INTERIOR COMES COMPLETE WITH FRESH BERBER CARPET,HARDWOOD FLOOR ENTRY, AND PLEASING PAINT AND WALLPAPERED WALL. SOME AMENITIES INCLUDE: CEILING FANS, A NICE SIZED WASH ROOM, SCREENED-IN BACK PORCH, 2 YEAR OLD OVEN AND MICROWAVE, LARGE ROOMS, AND A SEAWALL. MUST SEE TO REALLY APPRECIATE!!!

20. 2003-10-27
    listed $105,000

    Show marketing remark (436 chars)

    THIS ADORABLE LAKEHOUSE RESTS UPON A GOOD SIZED, PARTIALLY TREED LOT WITH GOOD LAKE FRONTAGE. THE EXTERIOR IS LOW MAINTENANCE BRICK AND VINYL. THE INTERIOR COMES COMPLETE WITH FRESH BERBER CARPET,HARDWOOD FLOOR ENTRY, AND PLEASING PAINT AND WALLPAPERED WALL. SOME AMENITIES INCLUDE: CEILING FANS, A NICE SIZED WASH ROOM, SCREENED-IN BACK PORCH, 2 YEAR OLD OVEN AND MICROWAVE, LARGE ROOMS, AND A SEAWALL. MUST SEE TO REALLY APPRECIATE!!!

21. 2001-08-17
    soldstatus
22. 2001-07-06
    listed $86,500
23. 2001-05-11
    soldstatus
24. 2001-04-06
    listed $69,900

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,939
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,075
• − Management: −$2,075
• − HOA: −$228
• − Depreciation: −$7,270
• Taxable loss: −$4,705
• Est. tax savings @ 24.0%: +$1,129
• After-tax cash flow: $669/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: Desoto County School District
• NCES district ID: 2801320
• Math proficiency: 48% ▼ -13.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $59,272
• Composite: 39.56/100
• National rank: #3933
• State rank: #20 of 130 in MS

Livability — Hernando

• Score: 70/100
• State rank: #44
• US rank: #8034

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A- Housing A+ Health & safety F User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: DeSoto County · 176,513 people
• City population: 31,374
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 31,374
• Household income: $93,583
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 24.0

Population outlook (DeSoto County) Hauer SSP2

• Today (2025): 203,338 people
• By 2030: 217,692 · +7.1%
• By 2040: 245,320 · +20.6%
• By 2050: 270,133 · +32.8%
• By 2075: 323,341 · +59.0%
• By 2100: 348,742 · +71.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 13% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Italian 2% Serbian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · DeSoto

• 2024 margin: Strong R (+24.1) · D 36.7% · R 60.8% · Other 2.5%
• 2008→2024 swing: +14.2pp toward D · 2008: -38.2pp · 2024: -24.1pp
• All cycles: 2024: R+24.1 2020: R+23.9 2016: R+34.8 2012: R+33.5 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.49%
• Current HPI: 176.8843
• Rent YoY: ▼ -0.43%
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+257.5% since first listed

12 events — show timeline

• 2026-05-28 Price Changed $249,900 MLSU
• 2026-05-06 Listed $255,000 MLSU
• 2025-11-24 Listing Removed — MLSU
• 2025-09-29 Price Changed $251,900 MLSU
• 2025-09-05 Price Changed $254,400 MLSU
• 2025-08-14 Listed $256,900 MLSU
• 2004-01-30 Sold (MLS) — MLSU
• 2003-10-27 Listed $105,000 MLSU
• 2001-08-17 Sold (MLS) — MLSU
• 2001-07-06 Listed $86,500 MLSU
• 2001-05-11 Sold (MLS) — MLSU
• 2001-04-06 Listed $69,900 MLSU