1586 Mckenas Way Cv · Hernando, MS 38632

$359,000

4 bd · 2.0 ba · 2,339 sqft · SingleFamily public records · 24 Days on market

Built 2011 $153/sqft · at area comps Est $426k · 16% under

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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 +14.6/30.0
• ARV discount +14.6/15.0
• DSCR +4.5/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Hernando Home in Prime Location! This beautifully maintained 4 bedroom, 2 bath single-level home is tucked away in a quiet cove in the heart of Hernando. Featuring a spacious, open floor plan, this home offers comfortable living and great functionality. The large eat-in kitchen includes a bright breakfast area- perfect for everyday meals or entertaining. Enjoy the cozy see-through fireplace that adds warmth and charm to multiple living spaces.. Step outside to a generous backyard that backs up to a peaceful wooded area, providing added privacy. Located in the highly sought-after Hernando school district, this home has it all. Don't miss your chance- this one won't last long!!

Key facts

• Garage
• Built 2011
• Listed 24 days

Property features AI

Finance

• Financial info: Financing options include Conventional, FHA, and VA

Exterior

• Parking: 2 covered parking spaces; Driveway/pad; Side-load garage with garage door opener
• Security: Monitored alarm system; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Detached single-family home in a traditional style; Built in 2011; Existing property
• Construction: Slab foundation; Composition shingle roof
• Exterior features: Covered patio; Aluminum/steel siding; Double-pane windows; Professionally landscaped lot with some trees and level terrain; Cove setting

Interior

• Kitchen: Eat-in kitchen with pantry; Range/oven and cooktop (gas cooking); Dishwasher; Microwave
• Bedrooms: 4 bedrooms, all on the main level; Primary bedroom on main level with walk-in closet, vaulted/coffered ceiling, tile floor (15 x 15); Bedroom 2 on main level with shared bathroom (12 x 14), carpet; Bedroom 3 on main level with shared bathroom (12 x 12), carpet; Bedroom 4 on main level (13 x 13), carpet
• Flooring: Combination of concrete floors and carpet; tile in primary areas
• Bathrooms: 2 full bathrooms; Primary bathroom with double sinks, whirlpool tub, separate shower, tile floor
• Heating & cooling: Central heating (gas); Central cooling with ceiling fans
• Interior features: One-story layout with 8 total rooms; Masonry vented gas fireplace with gas starter in the living room; Smooth ceilings; Pantry; Laundry room; Entry hall; Attic; Separate living room and separate breakfast room
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/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 $296k (17.4% below list).
• Recommended offer: $296k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.3% 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.
• Zoned schools: Hernando Elem (779 students, 100% FRL); Hernando Middle School (math 75% / reading 57%, grade A-, #2 of 179 statewide, top 1%, 1,150 students, 100% FRL); Hernando High School (math 69% / reading 62%, grade B, #2 of 197 statewide, top 1%, 1,419 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 66% at this address vs 45% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Desoto County School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.4%/yr); 407 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 38% 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 $11k 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 24 days — a 2% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $296,367 (17.4% 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 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?
3. 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?
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: 0.83% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (median comp): $425,780
• List price: $359,000
• Delta: -13.34%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
771 Robertson Way	0.05mi	4/3.0	2,540 (+9%)	9mo	$397,000	$156	72
1207 Howell Way	0.50mi	4/3.0	2,462 (+5%)	2mo	$388,000	$158	63
701 Beckett Cv	0.34mi	4/3.0	2,225 (-5%)	12mo	$359,900	$162	62
1767 Robertson Place Dr	0.19mi	3/2.0 (-1)	2,025 (-13%)	3mo	$355,000	$175	61
521 Abey Ln	0.57mi	4/2.0	2,150 (-8%)	2mo	$335,500	$156	59
653 W Robinson St	0.75mi	4/2.0	2,227 (-5%)	0mo	$175,000	$79	57
1221 Howell Way	0.50mi	3/2.0 (-1)	2,150 (-8%)	6mo	$344,000	$160	54
1094 Peggy Cv	0.61mi	4/2.5	2,160 (-8%)	6mo	$347,500	$161	52
1150 Howell Way	0.55mi	4/2.0	2,150 (-8%)	12mo	$339,500	$158	51
470 Beacon Hill Dr	0.67mi	4/3.5	2,487 (+6%)	3mo	$419,000	$168	50
603 Beckett Cv	0.43mi	3/2.0 (-1)	2,065 (-12%)	7mo	$340,000	$165	50
1143 Pettigrew Dr	0.50mi	3/2.0 (-1)	2,044 (-13%)	6mo	$352,900	$173	46

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: -17.8%
• Equity multiple: 0.39×
• Total profit: $-61,514
• Equity at exit: $53,528

10-year hold

• IRR: -16.4%
• Equity multiple: 0.20×
• Total profit: $-80,508
• Equity at exit: $31,040

Cash invested: $100,520 (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: 407
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,964 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$224 /mo · $2,684/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $85

Break-even live

Break-even rent $2,856

Max offer price $359,000

Occupancy floor 92%

Sensitivity live

Price	-10% $289	-5% $187	+0% $85	+5% $-16	+10% $-118
Rent	-10% $-149	-5% $-32	+0% $85	+5% $202	+10% $320
Rate	-1.0pp $266	-0.5pp $177	base $85	+0.5pp $-8	+1.0pp $-102

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1670 Timber Creek Dr Hernando, MS	3.0	2.0	1672	$1,945	$1.16	45d	1	0.46mi
2159 Timberlane St Hernando, MS	4.0	2.5	2150	$4,500	$2.09	6d	1	0.76mi
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	25d	1	1.07mi
89 Shady Lane Cv E Hernando, MS	4.0	2.5	2500	$2,650	$1.06	13d	1	1.24mi
52 Forked Creek Pkwy Hernando, MS	4.0	2.0	2300	$2,340	$1.02	45d	1	1.32mi
237 US-51 Hernando, MS	4.0	4.0	2986	$3,400	$1.14	45d	1	1.50mi

Listing history 20 events

1. 2026-06-21
   days on market $359,000 Active 24 DOM
2. 2026-06-18
   days on market $359,000 Active 21 DOM
3. 2026-06-17
   days on market $359,000 Active 20 DOM
4. 2026-06-16
   days on market $359,000 Active 19 DOM
5. 2026-06-15
   price $359,000 Active 18 DOM
6. 2026-06-15
   days on market $369,000 Active 18 DOM
7. 2026-06-13
   days on market $369,000 Active 16 DOM
8. 2026-06-10
   days on market $369,000 Active 13 DOM
9. 2026-06-09
   days on market $369,000 Active 12 DOM
10. 2026-06-08
    days on market $369,000 Active 11 DOM
11. 2026-06-07
    days on market $369,000 Active 10 DOM
12. 2026-06-03
    days on market $369,000 Active 6 DOM
13. 2026-06-02
    days on market $369,000 Active 5 DOM
14. 2026-06-01
    days on market $369,000 Active 4 DOM
15. 2026-05-31
    days on market $369,000 Active 3 DOM
16. 2026-05-01
    listed $369,000 Active 698-char remark

    Show marketing remark (698 chars)

    Charming Hernando Home in Prime Location! This beautifully maintained 4 bedroom, 2 bath single-level home is tucked away in a quiet cove in the heart of Hernando. Featuring a spacious, open floor plan, this home offers comfortable living and great functionality. The large eat-in kitchen includes a bright breakfast area- perfect for everyday meals or entertaining. Enjoy the cozy see-through fireplace that adds warmth and charm to multiple living spaces.. Step outside to a generous backyard that backs up to a peaceful wooded area, providing added privacy. Located in the highly sought-after Hernando school district, this home has it all. Don't miss your chance- this one won't last long!!

17. 2017-03-07
    soldstatus 502-char remark

    Show marketing remark (502 chars)

    GORGEOUS FOUR BED ROOM, TWO BATH, TWO CAR OVERSIZE GARAGE, COVE LOT, BEAUTIFUL ROBERTSON PLACE SUBDIVISION IN SOUGHT AFTER HERNANDO, LARGE GREAT ROOM WITH DOUBLE SIDED FIRE PLACE, CEILING FAN, STAINED CONCRETE FLOORS IN GREAT ROOM, ENTRANCE, KITCHEN, & HEARTH ROOM, CUSTOM CABINETS IN KITCHEN, HUGE HEARTH ROOM, SPACIOUS MASTER BED ROOM WITH CEILING FAN, SALON BATH HAS 2 VANITIES, JETTED TUB, SEPARATE SHOWER, THREE ADDITIONAL BED ROOMS AND FULL BATH, COVERED PATIO, NEW CARPET, NEW INTERIOR PAINT

18. 2016-12-08
    listed $219,900 502-char remark

    Show marketing remark (502 chars)

    GORGEOUS FOUR BED ROOM, TWO BATH, TWO CAR OVERSIZE GARAGE, COVE LOT, BEAUTIFUL ROBERTSON PLACE SUBDIVISION IN SOUGHT AFTER HERNANDO, LARGE GREAT ROOM WITH DOUBLE SIDED FIRE PLACE, CEILING FAN, STAINED CONCRETE FLOORS IN GREAT ROOM, ENTRANCE, KITCHEN, & HEARTH ROOM, CUSTOM CABINETS IN KITCHEN, HUGE HEARTH ROOM, SPACIOUS MASTER BED ROOM WITH CEILING FAN, SALON BATH HAS 2 VANITIES, JETTED TUB, SEPARATE SHOWER, THREE ADDITIONAL BED ROOMS AND FULL BATH, COVERED PATIO, NEW CARPET, NEW INTERIOR PAINT

19. 2011-11-09
    historical
20. 2011-08-14
    listed $187,500

ⓘ 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: $2,684 · $224/mo
• Projected year-2 tax: $2,836 · $236/mo
• Expected delta: +$152/yr (+$13/mo · 5.7%)

ⓘ 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 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: $35,564
• − Mortgage interest: −$20,110
• − Property taxes: −$2,684
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,845
• − Management: −$2,845
• − Depreciation: −$10,444
• Taxable loss: −$5,159
• Est. tax savings @ 24.0%: +$1,238
• After-tax cash flow: $2,263/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
• 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

+91.5% since first listed

8 events — show timeline

• 2026-06-15 Price Changed $359,000 Memphis Area Association of Realtors(R) MLS
• 2026-06-11 Price Changed $359,000 MLSU
• 2026-05-02 Listed $369,000 Memphis Area Association of Realtors(R) MLS
• 2026-05-01 Listed $369,000 MLSU
• 2017-03-07 Sold (MLS) — MLSU
• 2016-12-08 Listed $219,900 MLSU
• 2011-11-09 Listing Removed — MLSU
• 2011-08-14 Listed $187,500 MLSU

Property tax history

-2.0%/yr

Latest (2025): $2,684 · +17.6% YoY. Source: county tax records.