3741 Iron Horse Dr · Horn Lake, MS 38637

$160,000

2 bd · 2.0 ba · 1,113 sqft · Townhouse public records · 2 Days on market

Built 2003 2,613 sqft lot Est $155k · at est.

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Why this score? — see what drove the C- 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 +21.2/30.0
• DSCR +6.8/10.0
• ARV discount +6.0/15.0
• 1% rule +4.7/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This townhome is at the end of the unit with a split floorplan. It has 2 bedrooms and 2 Full baths. It has gas fireplace in the great room. Duel vanity in Master bathroom. Don't miss out of this great home. Refrigerator, Washer, and Dryer to stay.

Key facts

• 2 parking spots
• Built 2003

Property features AI

Finance

• HOA & community: Sidewalks in community

Exterior

• Parking: 2 parking spaces; Community structure; Driveway with direct access; Paved parking
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Townhouse; Move-in ready; One level
• Construction: Brick construction; Asphalt shingle roof; Slab foundation; Built (year source: appraiser)
• Exterior features: Rear porch; Brick patio/porch; Wood fencing in back yard; Corners marked

Interior

• Kitchen: Electric range; Free-standing refrigerator
• Bedrooms: Primary bedroom (Main); Additional bedroom (Main)
• Flooring: Ceramic tile; Concrete; Tile
• Bathrooms: 2 bathrooms (total)
• Heating & cooling: Central heating; Central air; Gas cooling
• Interior features: Breakfast bar; Kitchen island; Insulated windows; Fireplace
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/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 $156k (2.7% below list).
• Recommended offer: $156k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 6.0% in Horn Lake — 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 61/100 on livability (#196 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, 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.
• Zoned schools: Shadow Oaks Elementary School (459 students, 99% FRL); Horn Lake Middle School (math 37% / reading 21%, grade F, #90 of 179 statewide, top 52%, 1,021 students, 100% FRL); Horn Lake High (math 28% / reading 30%, grade F, #98 of 197 statewide, top 49%, 1,361 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 29% at this address vs 45% district-wide (-16 pts) — the specific schools serving this property underperform the Desoto County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 95 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($53k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,710 (2.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $154,707
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3748 Conductors Way	0.09mi	2/2.0	1,114 (+0%)	20mo	$149,900	$135	79
3753 Iron Horse Dr	0.01mi	3/2.0 (+1)	1,139 (+2%)	14mo	$159,900	$140	79
7227 Conrail Cir	0.16mi	3/3.0 (+1)	1,238 (+11%)	22mo	$172,500	$139	46
7440 Perrin Ln	0.66mi	3/2.0 (+1)	1,206 (+8%)	9mo	$169,900	$141	43
7321 Madelyn Cv	0.59mi	3/3.0 (+1)	1,222 (+10%)	10mo	$169,900	$139	39
7365 Perrin Ln	0.58mi	3/2.0 (+1)	1,200 (+8%)	22mo	$169,900	$142	36
7453 Perrin Ln	0.64mi	3/3.0 (+1)	1,205 (+8%)	18mo	$155,000	$129	32
7455 Perrin Ln	0.64mi	3/3.0 (+1)	1,254 (+13%)	14mo	$169,900	$135	28

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: -10.0%
• Equity multiple: 0.65×
• Total profit: $-15,827
• Equity at exit: $23,857

10-year hold

• IRR: -4.9%
• Equity multiple: 0.72×
• Total profit: $-12,653
• Equity at exit: $13,834

Cash invested: $44,800 (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 38637

• Home prices YoY: -13.4%
• Rents YoY: -0.7%
• Active inventory: 95
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,557 high
• Mortgage (P&I): −$839
• Tax from tax record: −$94 /mo · $1,122/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $231

Break-even live

Break-even rent $1,265

Max offer price $160,000

Occupancy floor 80%

Sensitivity live

Price	-10% $321	-5% $276	+0% $231	+5% $186	+10% $140
Rent	-10% $108	-5% $169	+0% $231	+5% $292	+10% $354
Rate	-1.0pp $311	-0.5pp $272	base $231	+0.5pp $189	+1.0pp $147

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7163 Layne Dr Horn Lake, MS	3.0	2.0	1320	$1,595	$1.21	24d	1	0.24mi
3914 Santa Fe Loop Horn Lake, MS	3.0	3.0	1238	$1,673	$1.35	24d	1	0.24mi
7340 Durango Dr Horn Lake, MS	3.0	2.0	1362	$1,705	$1.25	5d	1	0.25mi
7080 Benji Ave Horn Lake, MS	3.0	2.0	1276	$1,550	$1.21	44d	1	0.34mi
7202 Brenwood Dr Horn Lake, MS	3.0	2.0	1490	$1,705	$1.14	22d	1	0.38mi
4238 Highgate Dr Horn Lake, MS	3.0	2.0	1232	$1,585	$1.29	44d	1	0.38mi
3915 Woodland Dr Horn Lake, MS	3.0	2.0	1400	$1,775	$1.27	44d	1	0.39mi
7341 Lee Ann Dr Horn Lake, MS	3.0	2.0	1247	$1,660	$1.33	3d	1	0.43mi
4174 Highgate Dr Horn Lake, MS	3.0	1.5	1197	$1,495	$1.25	18d	1	0.45mi
3437 Laurelwood St Horn Lake, MS	3.0	2.0	1200	$1,480	$1.23	12d	1	0.48mi
7101 Tulane Rd N Horn Lake, MS	2.0–3.0	2.0	1189	$1,340	$1.13	3d	6	0.52mi
6585 Fairwood Cv Horn Lake, MS	3.0	2.0	1473	$1,553	$1.05	24d	1	0.54mi
4192 Anderton Blvd Horn Lake, MS	3.0	2.0	1100	$1,575	$1.43	24d	1	0.57mi
4192 Anderton Blvd Horn Lake, MS	3.0	2.0	1100	$1,575	$1.43	15d	1	0.57mi
7311 Madelyn Cv Horn Lake, MS	3.0	3.0	1263	$1,395	$1.10	22d	1	0.58mi
7311 Madelyn Cv Horn Lake, MS	3.0	3.0	1263	$1,395	$1.10	24d	1	0.58mi
6455 Walnut Grove Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	44d	1	0.64mi
6445 Collinwood Rd Horn Lake, MS	3.0	2.0	1450	$1,593	$1.10	3d	1	0.65mi
7609 Woodshire Dr Horn Lake, MS	3.0	2.0	1480	$1,690	$1.14	44d	1	0.66mi
7063 Foxhall Dr Horn Lake, MS	3.0	2.0	1392	$1,745	$1.25	5d	1	0.67mi
6420 Sandhurst Rd Horn Lake, MS	3.0	2.0	1101	$1,623	$1.47	22d	1	0.68mi
7066 Foxhall Dr Horn Lake, MS	3.0	2.0	998	$1,395	$1.40	45d	1	0.70mi
6420 Cornwall Rd Horn Lake, MS	3.0	2.0	1189	$1,550	$1.30	15d	1	0.70mi
3285 Edenshire Ln Horn Lake, MS	2.0	2.0	1407	$1,573	$1.12	24d	1	0.73mi
4355 Shadow Ridge Dr Horn Lake, MS	3.0	2.0	1350	$1,760	$1.30	5d	1	0.78mi
6290 Sandhurst Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	5d	1	0.79mi
7139 Hampton Dr Horn Lake, MS	3.0	2.0	1247	$1,550	$1.24	24d	1	0.81mi
6420 Forestgate Rd Horn Lake, MS	3.0	2.0	1120	$1,573	$1.40	22d	1	0.81mi
6270 Jamestown Ave Horn Lake, MS	3.0	2.0	1053	$1,523	$1.45	44d	1	0.84mi
7623 Caitlynn Cir W Horn Lake, MS	3.0	2.0	1229	$1,705	$1.39	44d	1	0.86mi
6225 Sandhurst Rd Horn Lake, MS	3.0	2.0	1200	$1,395	$1.16	44d	1	0.87mi
6475 Forest Glen Dr Horn Lake, MS	3.0	1.5	1100	$1,395	$1.27	44d	1	0.90mi
2921 Normandy Dr Horn Lake, MS	3.0	1.5	1250	$1,200	$0.96	24d	1	0.92mi
2890 Meadowbrook Dr Horn Lake, MS	3.0	2.0	1171	$1,375	$1.17	3d	1	0.92mi
6392 Manchester Dr Horn Lake, MS	3.0	2.0	1352	$1,715	$1.27	3d	1	0.92mi
3681 Jordan View Dr Southaven, MS	3.0	2.0	1290	$1,625	$1.26	15d	1	0.93mi
2881 Normandy Dr Horn Lake, MS	3.0	1.5	1283	$1,450	$1.13	44d	1	0.94mi
4506 Shadow Hollow Dr Horn Lake, MS	3.0	2.0	1300	$1,645	$1.27	3d	1	0.96mi
6165 Forestgate Rd Horn Lake, MS	3.0	1.5	1079	$1,400	$1.30	44d	1	0.96mi
3060 Fairmeadow Dr Horn Lake, MS	3.0	1.5	1104	$1,663	$1.51	3d	1	0.98mi

Listing history 3 events

1. 2026-06-18
   days on market $160,000 Active 2 DOM
2. 2026-06-17
   remarks 627-char remark
3. 2026-06-17
   listed $160,000 Active 1 DOM

ⓘ 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: $1,122 · $94/mo
• Projected year-2 tax: $1,264 · $105/mo
• Expected delta: +$142/yr (+$12/mo · 12.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $18,685
• − Mortgage interest: −$8,962
• − Property taxes: −$1,122
• − Insurance: −$800
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − Depreciation: −$4,655
• Taxable income: $156
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $2,733/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 — Horn Lake

• Score: 61/100
• State rank: #196
• US rank: #17977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horn Lake, MS
• County: DeSoto County · 176,513 people
• City population: 26,647
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 26,647
• Household income: $53,311
• Rent vs Own: 41.9% rent · 58.1% own
• Severe rent burden: 1052.0

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 0.62)
• Race & ethnicity: Black 44% White 42% Hispanic / Latino 9% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -32.08%
• Current HPI: 206.5542
• Rent YoY: ▼ -0.66%
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+106.5% since first listed

19 events — show timeline

• 2026-06-16 Listed $160,000 MLSU
• 2022-04-14 Sold (Public Records) — Public Records
• 2022-04-08 Sold (MLS) — MLSU
• 2022-03-08 Pending — MLSU
• 2022-03-06 Listed $140,000 MLSU
• 2013-02-14 Sold (Public Records) — Public Records
• 2013-02-12 Sold (MLS) — Memphis Area Association of Realtors(R) MLS
• 2013-02-12 Sold (MLS) — MLSU
• 2013-01-25 Delisted — Memphis Area Association of Realtors(R) MLS
• 2012-07-18 Listed $54,900 Memphis Area Association of Realtors(R) MLS
• 2012-07-18 Listed $54,900 MLSU
• 2009-01-12 Sold (MLS) — Memphis Area Association of Realtors(R) MLS
• 2009-01-12 Sold (MLS) — MLSU
• 2008-12-30 Delisted — Memphis Area Association of Realtors(R) MLS
• 2008-10-07 Listed $49,900 Memphis Area Association of Realtors(R) MLS
• 2008-10-07 Listed $49,900 MLSU
• 2003-04-29 Sold (Public Records) — Public Records
• 2003-04-25 Sold (MLS) — MLSU
• 2003-03-07 Listed $77,500 MLSU

Property tax history

-2.6%/yr

Latest (2025): $1,122 · +17.2% YoY. Source: county tax records.