3435 Greenway Dr · Horn Lake, MS 38637

$110,000

3 bd · 1.5 ba · 1,079 sqft · SingleFamily public records · 3 Days on market

Built 1985 8,712 sqft lot Est $186k · 41% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• 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

Great opportunity for investors.

Key facts

• 8,712 sq ft lot
• Built 1985
• Listed 3 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-family residence; House; One level
• Construction: Brick and siding construction; Slab foundation; Built in public-record year
• Exterior features: Architectural shingle roof; Other exterior features

Interior

• Kitchen: Built-in range
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in range

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.5% 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: Horn Lake Elem (451 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 22d 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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

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 $110,000

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: 1.42% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.53%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $185,588
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3430 Mayfair Dr	0.44mi	3/2.0	1,089 (+1%)	3mo	$204,900	$188	73
6215 E Carroll Cove Cv	0.33mi	3/1.5	1,110 (+3%)	9mo	$145,000	$131	72
6160 Lynnfield Rd	0.22mi	3/1.5	1,183 (+10%)	2mo	$190,000	$161	72
6455 Knight Cv	0.39mi	3/2.0	1,117 (+4%)	8mo	$209,900	$188	67
3530 Woodmont Cv	0.51mi	3/1.5	1,100 (+2%)	7mo	$189,500	$172	67
6325 Collinwood Rd	0.36mi	3/2.0	1,162 (+8%)	2mo	$202,000	$174	67
6705 Gatewood Cir	0.55mi	3/1.5	1,069 (-1%)	8mo	$199,900	$187	66
6190 W Carroll Cv	0.29mi	3/2.0	1,160 (+8%)	8mo	$172,500	$149	66
3140 Forest Glen Dr	0.49mi	3/1.5	1,206 (+12%)	2mo	$170,000	$141	56
6470 Forest Glen Dr	0.46mi	3/1.0	938 (-13%)	2mo	$147,300	$157	53
3045 Normandy Dr	0.63mi	4/1.5 (+1)	1,238 (+15%)	2mo	$160,000	$129	40
6701 Tulane Rd	0.60mi	4/2.0 (+1)	1,236 (+15%)	6mo	$219,000	$177	35

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: 6.8%
• Equity multiple: 1.26×
• Total profit: $7,905
• Equity at exit: $16,401

10-year hold

• IRR: 13.3%
• Equity multiple: 1.92×
• Total profit: $28,266
• Equity at exit: $9,511

Cash invested: $30,800 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,564 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $476

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 65%

Sensitivity live

Price	-10% $552	-5% $514	+0% $476	+5% $438	+10% $400
Rent	-10% $352	-5% $414	+0% $476	+5% $537	+10% $599
Rate	-1.0pp $531	-0.5pp $504	base $476	+0.5pp $447	+1.0pp $418

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6165 Forestgate Rd Horn Lake, MS	3.0	1.5	1079	$1,400	$1.30	44d	1	0.13mi
3305 Laurel Dr Horn Lake, MS	3.0	2.0	1085	$1,450	$1.34	24d	1	0.17mi
6420 Forestgate Rd Horn Lake, MS	3.0	2.0	1120	$1,573	$1.40	21d	1	0.33mi
6230 Somerset Dr Horn Lake, MS	3.0	2.0	1204	$1,593	$1.32	3d	1	0.34mi
6225 Sandhurst Rd Horn Lake, MS	3.0	2.0	1200	$1,395	$1.16	44d	1	0.38mi
6420 Cornwall Rd Horn Lake, MS	3.0	2.0	1189	$1,550	$1.30	15d	1	0.38mi
6290 Sandhurst Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	4d	1	0.39mi
5905 Tulane Rd Horn Lake, MS	2.0	2.0	1342	$1,300	$0.97	21d	1	0.39mi
3780 Southbrook Dr Horn Lake, MS	4.0	2.0	1444	$1,550	$1.07	4d	1	0.45mi
6445 Collinwood Rd Horn Lake, MS	3.0	2.0	1450	$1,593	$1.10	2d	1	0.45mi
6475 Forest Glen Dr Horn Lake, MS	3.0	1.5	1100	$1,395	$1.27	44d	1	0.46mi
3530 Mayfair Dr Horn Lake, MS	4.0	2.0	1300	$1,595	$1.23	15d	1	0.47mi
6420 Sandhurst Rd Horn Lake, MS	3.0	2.0	1101	$1,623	$1.47	21d	1	0.47mi
3060 Fairmeadow Dr Horn Lake, MS	3.0	1.5	1104	$1,663	$1.51	2d	1	0.49mi
6455 Walnut Grove Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	44d	1	0.49mi
2900 Brachton Cv W Horn Lake, MS	2.0	2.0	1000	$1,225	$1.23	24d	1	0.49mi
2912 Waverly Dr Horn Lake, MS	3.0	2.0	1366	$1,793	$1.31	4d	1	0.52mi
6360 Greenbriar Dr Horn Lake, MS	3.0	1.5	1328	$1,465	$1.10	44d	1	0.53mi
2905 Brook Cv Horn Lake, MS	3.0	1.0	1112	$1,195	$1.07	2d	1	0.54mi
2905 Brook Cv Horn Lake, MS	3.0	1.0	1112	$1,195	$1.07	21d	1	0.54mi
6585 Fairwood Cv Horn Lake, MS	3.0	2.0	1473	$1,553	$1.05	24d	1	0.56mi
5961 Kentwood Dr Horn Lake, MS	3.0	2.0	1290	$1,535	$1.19	24d	1	0.60mi
6270 Jamestown Ave Horn Lake, MS	3.0	2.0	1053	$1,523	$1.45	44d	1	0.60mi
3560 Lakehurst Dr Horn Lake, MS	4.0	2.0	1300	$1,425	$1.10	17d	1	0.65mi
3437 Laurelwood St Horn Lake, MS	3.0	2.0	1200	$1,480	$1.23	12d	1	0.69mi
2890 Meadowbrook Dr Horn Lake, MS	3.0	2.0	1171	$1,375	$1.17	3d	1	0.72mi
2921 Normandy Dr Horn Lake, MS	3.0	1.5	1250	$1,200	$0.96	24d	1	0.81mi
2675 Ridgewood Cv Horn Lake, MS	3.0	1.0	1065	$1,195	$1.12	21d	1	0.86mi
2675 Ridgewood Cv Horn Lake, MS	3.0	1.0	1035	$1,195	$1.15	24d	1	0.86mi
3915 Woodland Dr Horn Lake, MS	3.0	2.0	1400	$1,775	$1.27	44d	1	0.86mi
3285 Edenshire Ln Horn Lake, MS	2.0	2.0	1407	$1,573	$1.12	24d	1	0.87mi
2881 Normandy Dr Horn Lake, MS	3.0	1.5	1283	$1,450	$1.13	44d	1	0.89mi
6545 Hermitage Rd Horn Lake, MS	3.0	1.5	1200	$1,295	$1.08	44d	1	0.91mi
2563 Waverly Dr Horn Lake, MS	3.0	2.0	1133	$1,550	$1.37	21d	1	0.91mi
4355 Shadow Ridge Dr Horn Lake, MS	3.0	2.0	1350	$1,760	$1.30	4d	1	0.91mi
6392 Manchester Dr Horn Lake, MS	3.0	2.0	1352	$1,715	$1.27	2d	1	1.00mi
7080 Benji Ave Horn Lake, MS	3.0	2.0	1276	$1,550	$1.21	44d	1	1.10mi
4506 Shadow Hollow Dr Horn Lake, MS	3.0	2.0	1300	$1,645	$1.27	2d	1	1.11mi
2628 Hillcrest Cir Horn Lake, MS	3.0	1.0	1260	$1,275	$1.01	44d	1	1.12mi
7101 Tulane Rd N Horn Lake, MS	2.0–3.0	2.0	1189	$1,750	$1.47	2d	6	1.14mi

Listing history 4 events

1. 2026-06-18
   days on market $110,000 Active 3 DOM
2. 2026-06-17
   days on market $110,000 Active 2 DOM
3. 2026-06-15
   remarks 32-char remark
4. 2026-06-15
   listed $110,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $18,771
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,502
• − Management: −$1,502
• − Depreciation: −$3,200
• Taxable income: $4,206
• Est. tax owed @ 24.0%: −$1,009
• After-tax cash flow: $4,698/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

2 events — show timeline

• 2026-06-15 Listed $110,000 MLSU
• 2001-07-23 Sold (Public Records) — Public Records

Property tax history

-32.7%/yr

Latest (2025): $8 · +0.0% YoY. Source: county tax records.