6406 Cherokee Dr · Olive Branch, MS 38654

$229,900

3 bd · 2.0 ba · 1,346 sqft · SingleFamily public records · 72 Days on market

Built 1987 10,018 sqft lot $171/sqft · 9% below area Est $253k · 9% under

---

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 +16.8/30.0
• ARV discount +11.6/15.0
• DSCR +5.2/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 6406 Cherokee Dr in Olive Branch! Nestled in a well-established neighborhood on a quiet street, this home offers the perfect blend of comfort and convenience right in the heart of town. Featuring 3 bedrooms and 2 bathrooms, this property includes a fully fenced backyard--ideal for relaxing or entertaining. Inside, you'll find hardwood floors throughout the main living area and a cozy wood-burning fireplace, perfect for chilly nights. All appliances will remain with the home, including the washer and dryer, making this move-in ready opportunity one you don't want to miss!

Key facts

• Hardwood floors
• 0.23 acre lot
• Parking

Tags

• FULLY FENCED BACKYARD
• HARDWOOD FLOORS
• WOOD BURNING FIREPLACE
• ALL APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (15.0% below list).
• Recommended offer: $195k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.3% in Olive Branch — 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 72/100 on livability (#29 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute 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.
• Market conditions: Rents soft (-0.3%/yr); 566 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 72 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $195,377 (15.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.85% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

• ARV (median comp): $253,208
• List price: $229,900
• Delta: -9.20%
• 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
9852 Pigeon Roost Park Cir	0.15mi	3/2.0	1,337 (-1%)	0mo	$250,000	$187	92
9930 Sequoia Ln	0.03mi	3/2.0	1,304 (-3%)	4mo	$234,900	$180	90
9743 Pigeon Roost Park Cir	0.22mi	3/2.0	1,404 (+4%)	4mo	$274,900	$196	79
10158 Oak Leaf Dr	0.39mi	3/2.0	1,298 (-4%)	1mo	$225,000	$173	75
9678 Stuart Cv	0.31mi	3/2.0	1,265 (-6%)	3mo	$244,900	$194	73
9811 Cherokee Dr	0.15mi	3/2.0	1,522 (+13%)	5mo	$274,900	$181	67
6915 Maury Dr	0.64mi	3/2.5	1,336 (-1%)	2mo	$213,000	$159	65
10153 Stephenson Ln	0.57mi	3/2.0	1,200 (-11%)	2mo	$239,900	$200	54
9717 S Dogwood Mnr	0.56mi	3/2.0	1,507 (+12%)	1mo	$259,000	$172	53
10280 Yates Dr	0.71mi	3/2.0	1,237 (-8%)	1mo	$210,000	$170	53
6303 W Oak Run Dr	0.73mi	3/2.0	1,170 (-13%)	2mo	$220,000	$188	42
9270 College St	0.61mi	2/1.0 (-1)	1,157 (-14%)	4mo	$160,000	$138	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.48×
• Total profit: $-33,569
• Equity at exit: $34,279

10-year hold

• IRR: -11.7%
• Equity multiple: 0.39×
• Total profit: $-39,490
• Equity at exit: $19,878

Cash invested: $64,372 (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 38654

• Home prices YoY: -26.1%
• Rents YoY: -0.3%
• Active inventory: 566
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,954 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$93 /mo · $1,115/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $149

Break-even live

Break-even rent $1,765

Max offer price $229,900

Occupancy floor 87%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6178 Morgan Manor Dr E Olive Branch, MS	3.0	2.0	1411	$1,860	$1.32	11d	1	0.07mi
6298 Seminole Dr Olive Branch, MS	3.0	2.0	1605	$2,000	$1.25	43d	1	0.10mi
9931 Adina Cv Olive Branch, MS	3.0	2.0	1258	$1,723	$1.37	23d	1	0.23mi
6020 Oak Ridge Dr Olive Branch, MS	3.0	2.0	1657	$1,935	$1.17	3d	1	0.27mi
6534 Valerie Dr Olive Branch, MS	4.0	2.0	1500	$1,923	$1.28	43d	1	0.29mi
6571 Ashland Dr Olive Branch, MS	3.0	2.0	1276	$1,723	$1.35	20d	1	0.31mi
9763 Riggan Dr Olive Branch, MS	3.0	2.0	1224	$1,695	$1.38	19d	1	0.41mi
10257 Palmer Dr Olive Branch, MS	3.0	2.0	1134	$1,495	$1.32	23d	1	0.49mi
6763 Ashland Dr Olive Branch, MS	3.0	2.0	1200	$1,590	$1.32	11d	1	0.51mi
6813 Maury Dr Olive Branch, MS	3.0	2.0	1086	$1,395	$1.28	43d	1	0.52mi
10233 Curtis Dr Olive Branch, MS	3.0	2.0	1157	$1,595	$1.38	43d	1	0.53mi
6801 College Park Cv Olive Branch, MS	3.0	2.0	1160	$1,660	$1.43	43d	1	0.55mi
6649 Magnolia Dr Olive Branch, MS	3.0	2.0	1085	$1,800	$1.66	43d	1	0.58mi
6863 Delta Newberry Cv Olive Branch, MS	3.0	2.5	1600	$1,735	$1.08	4d	1	0.61mi
5837 Stonewall Dr Olive Branch, MS	3.0	2.0	1686	$1,935	$1.15	3d	1	0.62mi
6866 Valerie Dr Olive Branch, MS	3.0	2.0	1500	$1,795	$1.20	43d	1	0.63mi
10326 Curtis Dr Olive Branch, MS	3.0	2.0	1582	$1,695	$1.07	4d	1	0.65mi
10453 Kristen Dr S Olive Branch, MS	3.0	2.0	1264	$1,803	$1.43	2d	1	0.66mi
10515 Oak Leaf Dr Olive Branch, MS	3.0	2.0	1162	$1,595	$1.37	43d	1	0.73mi
10350 Yates Dr Olive Branch, MS	3.0	2.0	1650	$1,750	$1.06	43d	1	0.74mi
10378 Yates Dr Olive Branch, MS	3.0	2.0	1324	$1,780	$1.34	4d	1	0.76mi
6213 Magnolia Lakes Dr Olive Branch, MS	3.0	2.0	1134	$1,675	$1.48	43d	1	0.92mi
5847 Wendover Cv Olive Branch, MS	3.0	2.0	1586	$1,950	$1.23	16d	1	0.96mi
9961 Fox Run Dr Olive Branch, MS	3.0	2.0	1578	$2,300	$1.46	1d	1	0.98mi
5746 Oakley Dr Olive Branch, MS	3.0	2.0	1358	$1,835	$1.35	4d	1	1.07mi
9400 Goodman Rd Olive Branch, MS	1.0–3.0	1.0–2.0	1163	$2,005	$1.72	1d	17	1.07mi
7352 Alexander Rd Olive Branch, MS	3.0	2.0	1650	$1,825	$1.11	43d	1	1.08mi
7117 Goodman Ridge Dr Olive Branch, MS	3.0	2.0	1411	$1,755	$1.24	14d	1	1.27mi
10595 Pecan Vw Olive Branch, MS	4.0	3.0	1531	$2,050	$1.34	4d	1	1.31mi
7104 Olive Ridge Dr Olive Branch, MS	3.0	2.0	1242	$1,895	$1.53	43d	1	1.32mi
10734 Ridgefield Dr Olive Branch, MS	3.0	2.0	1658	$1,830	$1.10	16d	1	1.37mi
10873 E Ridge Dr Olive Branch, MS	3.0	2.0	1516	$1,730	$1.14	4d	1	1.40mi
10824 Ridgefield Dr Olive Branch, MS	3.0	2.0	1520	$1,785	$1.17	21d	1	1.43mi
7642 Fox Hunt Dr E Olive Branch, MS	3.0	2.0	1286	$1,675	$1.30	23d	1	1.47mi
7665 Fox Hunt Dr E Olive Branch, MS	3.0	2.0	1320	$1,695	$1.28	43d	1	1.48mi

Listing history 23 events

1. 2026-06-18
   days on market $229,900 Active 72 DOM
2. 2026-06-17
   days on market $229,900 Active 71 DOM
3. 2026-06-16
   days on market $229,900 Active 70 DOM
4. 2026-06-15
   days on market $229,900 Active 69 DOM
5. 2026-06-13
   days on market $229,900 Active 67 DOM
6. 2026-06-10
   days on market $229,900 Active 64 DOM
7. 2026-06-09
   days on market $229,900 Active 63 DOM
8. 2026-06-08
   days on market $229,900 Active 62 DOM
9. 2026-06-07
   days on market $229,900 Active 61 DOM
10. 2026-06-03
    days on market $229,900 Active 57 DOM
11. 2026-06-02
    days on market $229,900 Active 56 DOM
12. 2026-06-01
    days on market $229,900 Active 55 DOM
13. 2026-05-31
    days on market $229,900 Active 54 DOM
14. 2026-04-26
    price $234,000 588-char remark

    Show marketing remark (588 chars)

    Welcome to 6406 Cherokee Dr in Olive Branch! Nestled in a well-established neighborhood on a quiet street, this home offers the perfect blend of comfort and convenience right in the heart of town. Featuring 3 bedrooms and 2 bathrooms, this property includes a fully fenced backyard--ideal for relaxing or entertaining. Inside, you'll find hardwood floors throughout the main living area and a cozy wood-burning fireplace, perfect for chilly nights. All appliances will remain with the home, including the washer and dryer, making this move-in ready opportunity one you don't want to miss!

15. 2026-04-14
    price $236,000 588-char remark

    Show marketing remark (588 chars)

    Welcome to 6406 Cherokee Dr in Olive Branch! Nestled in a well-established neighborhood on a quiet street, this home offers the perfect blend of comfort and convenience right in the heart of town. Featuring 3 bedrooms and 2 bathrooms, this property includes a fully fenced backyard--ideal for relaxing or entertaining. Inside, you'll find hardwood floors throughout the main living area and a cozy wood-burning fireplace, perfect for chilly nights. All appliances will remain with the home, including the washer and dryer, making this move-in ready opportunity one you don't want to miss!

16. 2026-04-07
    listed $240,000 Active 588-char remark

    Show marketing remark (588 chars)

    Welcome to 6406 Cherokee Dr in Olive Branch! Nestled in a well-established neighborhood on a quiet street, this home offers the perfect blend of comfort and convenience right in the heart of town. Featuring 3 bedrooms and 2 bathrooms, this property includes a fully fenced backyard--ideal for relaxing or entertaining. Inside, you'll find hardwood floors throughout the main living area and a cozy wood-burning fireplace, perfect for chilly nights. All appliances will remain with the home, including the washer and dryer, making this move-in ready opportunity one you don't want to miss!

17. 2022-07-20
    soldstatus Closed 341-char remark

    Show marketing remark (341 chars)

    Take a look at this Cozy Home Nestled Perfectly in the Heart of Olive Branch! Convenient to Shopping and Great Schools. Hardwood Floors in the Main Living Area and a Wood Burning Fireplace for Those Cold Winter Nights. Fenced in Back Yard. All Appliances Remaining, including the Washer & Dryer! Schedule a Showing Today before its GONE!

18. 2022-06-11
    status Pending 341-char remark

    Show marketing remark (341 chars)

    Take a look at this Cozy Home Nestled Perfectly in the Heart of Olive Branch! Convenient to Shopping and Great Schools. Hardwood Floors in the Main Living Area and a Wood Burning Fireplace for Those Cold Winter Nights. Fenced in Back Yard. All Appliances Remaining, including the Washer & Dryer! Schedule a Showing Today before its GONE!

19. 2022-06-09
    listed $205,000 Active 341-char remark

    Show marketing remark (341 chars)

    Take a look at this Cozy Home Nestled Perfectly in the Heart of Olive Branch! Convenient to Shopping and Great Schools. Hardwood Floors in the Main Living Area and a Wood Burning Fireplace for Those Cold Winter Nights. Fenced in Back Yard. All Appliances Remaining, including the Washer & Dryer! Schedule a Showing Today before its GONE!

20. 2017-11-14
    soldstatus
21. 2017-11-09
    soldstatus
22. 2017-10-02
    listed $124,000
23. 1996-02-16
    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: $1,115 · $93/mo
• Projected year-2 tax: $1,816 · $151/mo
• Expected delta: +$701/yr (+$58/mo · 62.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $23,445
• − Mortgage interest: −$12,878
• − Property taxes: −$1,115
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$6,688
• Taxable loss: −$2,136
• Est. tax savings @ 24.0%: +$513
• After-tax cash flow: $2,303/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 — Olive Branch

• Score: 72/100
• State rank: #29
• US rank: #6509

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olive Branch, MS
• County: DeSoto County · 176,513 people
• City population: 57,898
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 57,898
• Household income: $103,092
• Rent vs Own: 14.9% rent · 85.1% own
• Severe rent burden: 801.0

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 0.57)
• Race & ethnicity: White 57% Black 32% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 4% Vietnamese 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: ▼ -66.27%
• Current HPI: 187.2114
• Rent YoY: ▼ -0.34%
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+88.7% since first listed

10 events — show timeline

• 2026-04-26 Price Changed $234,000 MLSU
• 2026-04-14 Price Changed $236,000 MLSU
• 2026-04-07 Listed $240,000 MLSU
• 2022-07-20 Sold (MLS) — MLSU
• 2022-06-11 Pending — MLSU
• 2022-06-09 Listed $205,000 MLSU
• 2017-11-14 Sold (Public Records) — Public Records
• 2017-11-09 Sold (MLS) — MLSU
• 2017-10-02 Listed $124,000 MLSU
• 1996-02-16 Sold (Public Records) — Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,115 · +22.4% YoY. Source: county tax records.