593 N Classic Dr · Hernando, MS 38632

$314,900

3 bd · 2.5 ba · 1,264 sqft · SingleFamily public records · 79 Days on market

Built 2006 0.25 ac lot $249/sqft · 44% above area Est $327k · at est.

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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 +10.8/30.0
• ARV discount +9.2/15.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• DSCR +3.1/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly painted and this home offers an open floor plan from the kitchen overlooking the great room and flowing into the dining room. Spacious great room with a gas log fireplace and vaulted ceilings. The primary bedroom has lots of room, along with a master bath. Master bath features a walk-in shower, tub with jets, and a nice size closet. Upstairs you will find a completed bonus room with a closet, full bathroom and walk-in attic. The large back yard has a wooden privacy fence and a covered patio, where you can sit and enjoy the quiet.

Key facts

• Open floor plan
• Tub with jets
• Covered patio

Tags

• OPEN FLOOR PLAN
• GAS LOG FIREPLACE
• VAULTED CEILINGS
• WALK-IN SHOWER
• TUB WITH JETS
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (25.2% below list).
• Recommended offer: $236k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• Market conditions: Rents soft (-0.4%/yr); 403 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($94k/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 $2k of loan paydown is wiped out by about $9k 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 79 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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.
• Current owner paid $167k; list at $315k implies a 89% gain — meaningful room to come down on a strong offer.

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 $235,631 (25.2% 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 79 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 11.1

CMA / ARV

• ARV (median comp): $327,347
• List price: $314,900
• Delta: -3.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
833 N Martin Cir	0.49mi	3/2.0	1,205 (-5%)	2mo	$269,000	$223	65
942 S Martin Cir	0.58mi	2/2.0 (-1)	1,185 (-6%)	14mo	$240,000	$203	44
815 Cardinal Ln	0.55mi	2/2.0 (-1)	1,185 (-6%)	19mo	$245,000	$207	41

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: -22.6%
• Equity multiple: 0.24×
• Total profit: $-67,001
• Equity at exit: $46,953

10-year hold

• IRR: -26.0%
• Equity multiple: -0.10×
• Total profit: $-96,904
• Equity at exit: $27,227

Cash invested: $88,172 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,356 high
• Mortgage (P&I): −$1,651
• Tax from tax record: −$220 /mo · $2,642/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-141

Break-even live

Break-even rent $2,535

Max offer price $289,944

Occupancy floor —

Sensitivity live

Price	-10% $37	-5% $-52	+0% $-141	+5% $-230	+10% $-320
Rent	-10% $-327	-5% $-234	+0% $-141	+5% $-48	+10% $45
Rate	-1.0pp $17	-0.5pp $-61	base $-141	+0.5pp $-223	+1.0pp $-306

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: $78,725
• Closing costs: $9,447
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
947 Clubhouse Dr Hernando, MS	4.0	2.0	1713	$2,495	$1.46	44d	1	0.07mi
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	24d	1	1.18mi
815 Bolivar Dr Unit 4205 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	44d	1	1.44mi
815 Bolivar Dr Unit 4303 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	45d	1	1.44mi
815 Bolivar Dr Unit 4206 Nesbit, MS	2.0	2.0	1124	$2,075	$1.85	44d	1	1.44mi
815 Bolivar Dr Unit 4301 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	24d	1	1.44mi
865 Bolivar Dr Unit 5302 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	24d	1	1.47mi
865 Bolivar Dr Unit 5106 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	44d	1	1.47mi
865 Bolivar Dr Unit 5207 Nesbit, MS	2.0	2.0	1124	$2,075	$1.85	44d	1	1.47mi
865 Bolivar Dr Unit 5307 Nesbit, MS	2.0	2.0	1124	$2,075	$1.85	15d	1	1.47mi
885 Tunica Trl Unit 1207 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	18d	1	1.48mi
885 Tunica Trl Unit 1303 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	24d	1	1.48mi
885 Tunica Trl Unit 1308 Nesbit, MS	2.0	2.0	1180	$1,975	$1.67	44d	1	1.48mi

Listing history 29 events

1. 2026-06-18
   days on market $314,900 Active 79 DOM
2. 2026-06-17
   days on market $314,900 Active 78 DOM
3. 2026-06-16
   days on market $314,900 Active 77 DOM
4. 2026-06-15
   days on market $314,900 Active 76 DOM
5. 2026-06-13
   pricedays on market $314,900 Active 74 DOM
6. 2026-06-10
   days on market $317,000 Active 71 DOM
7. 2026-06-09
   days on market $317,000 Active 70 DOM
8. 2026-06-08
   days on market $317,000 Active 69 DOM
9. 2026-06-07
   days on market $317,000 Active 68 DOM
10. 2026-06-03
    days on market $317,000 Active 64 DOM
11. 2026-06-02
    days on market $317,000 Active 63 DOM
12. 2026-06-01
    days on market $317,000 Active 62 DOM
13. 2026-05-31
    days on market $317,000 Active 61 DOM
14. 2026-03-22
    listed $320,000 Active 543-char remark

    Show marketing remark (543 chars)

    Freshly painted and this home offers an open floor plan from the kitchen overlooking the great room and flowing into the dining room. Spacious great room with a gas log fireplace and vaulted ceilings. The primary bedroom has lots of room, along with a master bath. Master bath features a walk-in shower, tub with jets, and a nice size closet. Upstairs you will find a completed bonus room with a closet, full bathroom and walk-in attic. The large back yard has a wooden privacy fence and a covered patio, where you can sit and enjoy the quiet.

15. 2017-06-05
    soldstatus 662-char remark

    Show marketing remark (662 chars)

    Quaint four bedroom two and a half bath home in Hernando. This home offers an open floor plan from the kitchen over looking the great room and flowing into the dining room. The kitchen is tiled, nice cabinets, an eat in area, and a bar to sit at along with a pantry. The great room is very spacious with a gas log fire place and vaulted ceilings. The master has plenty of room along with a master bath featuring a walk in shower, tub with jets, and a very nice size closet. The upstairs has a completed bonus room with a closet, a full bathroom, and a walk in attic. The large backyard has a wooden privacy fence and covered patio to sit out and enjoy the quiet.

16. 2017-05-01
    listed $187,500 662-char remark

    Show marketing remark (662 chars)

    Quaint four bedroom two and a half bath home in Hernando. This home offers an open floor plan from the kitchen over looking the great room and flowing into the dining room. The kitchen is tiled, nice cabinets, an eat in area, and a bar to sit at along with a pantry. The great room is very spacious with a gas log fire place and vaulted ceilings. The master has plenty of room along with a master bath featuring a walk in shower, tub with jets, and a very nice size closet. The upstairs has a completed bonus room with a closet, a full bathroom, and a walk in attic. The large backyard has a wooden privacy fence and covered patio to sit out and enjoy the quiet.

17. 2014-10-16
    soldstatus $167,000
18. 2014-07-17
    soldstatus
19. 2014-07-11
    soldstatus
20. 2014-05-05
    listed $172,900
21. 2014-04-30
    listed $172,900
22. 2009-09-02
    soldstatus
23. 2009-08-28
    soldstatus
24. 2009-08-28
    soldstatus $154,000
25. 2009-08-24
    historical
26. 2007-09-08
    listed $159,900
27. 2007-09-07
    listed $159,900
28. 2006-10-13
    soldstatus
29. 2006-05-24
    listed $179,590

ⓘ 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: $2,642 · $220/mo
• Projected year-2 tax: $2,642 · $220/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $28,276
• − Mortgage interest: −$17,639
• − Property taxes: −$2,642
• − Insurance: −$1,574
• − Repairs & maintenance: −$2,262
• − Management: −$2,262
• − Depreciation: −$9,161
• Taxable loss: −$7,265
• Est. tax savings @ 24.0%: +$1,744
• After-tax cash flow: $48/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

• Census place: Hernando, MS
• 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

+78.2% since first listed

16 events — show timeline

• 2026-03-22 Listed $320,000 MLSU
• 2017-06-05 Sold (MLS) — MLSU
• 2017-05-01 Listed $187,500 MLSU
• 2014-10-16 Sold (MLS) $167,000 Memphis Area Association of Realtors(R) MLS
• 2014-07-17 Sold (Public Records) — Public Records
• 2014-07-11 Sold (MLS) — MLSU
• 2014-05-05 Listed $172,900 Memphis Area Association of Realtors(R) MLS
• 2014-04-30 Listed $172,900 MLSU
• 2009-09-02 Sold (Public Records) — Public Records
• 2009-08-28 Sold (MLS) $154,000 Memphis Area Association of Realtors(R) MLS
• 2009-08-28 Sold (MLS) — MLSU
• 2009-08-24 Delisted — Memphis Area Association of Realtors(R) MLS
• 2007-09-08 Listed $159,900 Memphis Area Association of Realtors(R) MLS
• 2007-09-07 Listed $159,900 MLSU
• 2006-10-13 Sold (MLS) — MLSU
• 2006-05-24 Listed $179,590 MLSU

Property tax history

+7.7%/yr

Latest (2025): $2,642 · +14.0% YoY. Source: county tax records.