4798 Encore Pkwy · Walls, MS 38680

$221,000

3 bd · 2.0 ba · 1,635 sqft · Other public records · 8 Days on market

Built 2010 0.27 ac lot $135/sqft · 14% below area Est $245k · 10% under $15/mo HOA · 1% of rent

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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 +24.9/30.0
• ARV discount +12.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• 1% rule +5.2/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well kept split bedroom plan with covered patio and located across from community lake. Home has nice covered front porch, 3 bedroom, 2 baths, large great room with gas log fireplace and privacy fenced yard.

Key facts

• Community lake
• Walking trail
• Open kitchen concept

Tags

• OPEN KITCHEN CONCEPT
• COVERED PATIO
• PRIVACY FENCE
• COMMUNITY LAKE
• WALKING TRAIL

Property features AI

Finance

• HOA & community: Homeowners association with $175 annual fee; Community features: Fishing

Exterior

• Parking: 2-car garage; Concrete parking
• Security: Other security features
• Utilities: Public sewer; Private water; Cable available; Water available
• Home design: Single-family house; One level
• Construction: Brick veneer construction; Architectural shingle roof; Slab foundation; Built by builder
• Exterior features: Patio; Porch; Back yard fencing; Level lot; See remarks

Interior

• Kitchen: Free-standing range
• Bedrooms: Bedroom on main level
• Flooring: Luxury vinyl; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Open floorplan; Bay windows; Storm door(s); Living room fireplace; Move-in ready
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $221k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $221k).

Location & tenants

• Location reads 64/100 on livability (#124 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: amenities F, commute F, employment 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: Walls Elementary School (math 24% / reading 26%, grade F, #217 of 375 statewide, top 58%, 718 students, 100% FRL); Lake Cormorant Middle (math 51% / reading 30%, grade F, #60 of 179 statewide, top 37%, 764 students, 100% FRL); Lake Cormorant High (math 29% / reading 42%, grade F, #66 of 197 statewide, top 34%, 969 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• At $2,257/mo this rent would consume 46% of the median local household income ($60k/yr) (locally 229% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• DeSoto County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 17y 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: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.15%
• DSCR: 1.41
• GRM: 8.2

CMA / ARV

• ARV (median comp): $245,288
• List price: $221,000
• Delta: -9.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 3.43×
• Total profit: $150,317
• Equity at exit: $199,094

10-year hold

• IRR: 26.8%
• Equity multiple: 7.77×
• Total profit: $418,828
• Equity at exit: $429,354

Cash invested: $61,880 (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 38680

• Home prices YoY: 4.6%
• Active inventory: 51
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,257 medium
• Mortgage (P&I): −$1,159
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$92
• HOA: −$15
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $472

Break-even live

Break-even rent $1,660

Max offer price $221,000

Occupancy floor 74%

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: $55,250
• Closing costs: $6,630
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4876 Reunion Dr Walls, MS	4.0	2.0	2115	$2,428	$1.15	1d	1	0.70mi
9274 Lakeside Cir S Walls, MS	4.0	2.5	1957	$1,940	$0.99	1d	1	1.41mi
9274 Lakeside Cir S Unit 1 Walls, MS	4.0	2.5	1957	$1,960	$1.00	43d	1	1.41mi
5560 Lakeside Cir W Walls, MS	4.0	2.5	1957	$1,910	$0.98	4d	1	1.43mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: gas

Listing history 13 events

1. 2026-05-13
   status Pending 492-char remark
2. 2026-05-04
   listed $221,000 Active 492-char remark
3. 2025-10-08
   historical
4. 2025-10-02
   price $221,000
5. 2025-10-02
   status Active
6. 2025-05-31
   listed $221,900 Active
7. 2025-05-31
   historical
8. 2015-04-16
   soldstatus
9. 2015-04-10
   soldstatus

   Show marketing remark (207 chars)

   Well kept split bedroom plan with covered patio and located across from community lake. Home has nice covered front porch, 3 bedroom, 2 baths, large great room with gas log fireplace and privacy fenced yard.

10. 2014-06-09
    listed $100,000

    Show marketing remark (207 chars)

    Well kept split bedroom plan with covered patio and located across from community lake. Home has nice covered front porch, 3 bedroom, 2 baths, large great room with gas log fireplace and privacy fenced yard.

11. 2010-05-15
    soldstatus
12. 2009-10-08
    listed $125,950
13. 2009-04-01
    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: $545 · $45/mo
• Projected year-2 tax: $1,746 · $145/mo
• Expected delta: +$1,201/yr (+$100/mo · 220.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,088
• − Mortgage interest: −$12,379
• − Property taxes: −$545
• − Insurance: −$1,105
• − Repairs & maintenance: −$2,167
• − Management: −$2,167
• − HOA: −$180
• − Depreciation: −$6,429
• Taxable income: $2,116
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $5,155/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 — Walls

• Score: 64/100
• State rank: #124
• US rank: #13666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walls, MS
• County: DeSoto County · 176,513 people
• City population: 9,171
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 6,839
• Household income: $59,503
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 229.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 46% White 42% Hispanic / Latino 8% Two or more races 3% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Serbian 1% British 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▲ 10.29%
• Current HPI: 232.28
• Rent YoY: —
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+75.5% since first listed

13 events — show timeline

• 2026-05-13 Pending — MLSU
• 2026-05-04 Listed $221,000 MLSU
• 2025-10-08 Listing Removed — MLSU
• 2025-10-02 Price Changed $221,000 MLSU
• 2025-10-02 Relisted — MLSU
• 2025-05-31 Listing Removed — MLSU
• 2025-05-31 Listed $221,900 MLSU
• 2015-04-16 Sold (Public Records) — Public Records
• 2015-04-10 Sold (MLS) — MLSU
• 2014-06-09 Listed $100,000 MLSU
• 2010-05-15 Sold (MLS) — MLSU
• 2009-10-08 Listed $125,950 MLSU
• 2009-04-01 Sold (Public Records) — Public Records

Property tax history

-6.5%/yr

Latest (2025): $545 · -12.7% YoY. Source: county tax records.