6445 Heather Rd · Horn Lake, MS 38637

$150,000

3 bd · 1.5 ba · 1,015 sqft · SingleFamily public records · 17 Days on market

Built 1984 8,712 sqft lot Est $166k · 10% under

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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 +20.7/30.0
• ARV discount +11.9/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• 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

Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

Key facts

• 8,712 sq ft lot
• Parking
• Built 1984

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 $1k of loan paydown is wiped out by about $4k 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 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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 $147,750 (1.5% 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: 1.05% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $166,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6470 Forest Glen Dr	0.21mi	3/1.0	938 (-8%)	2mo	$147,300	$157	74
3430 Mayfair Dr	0.23mi	3/2.0	1,089 (+7%)	3mo	$204,900	$188	72
6705 Gatewood Cir	0.30mi	3/1.5	1,069 (+5%)	8mo	$199,900	$187	70
2940 Meadowbrook Dr	0.47mi	3/1.0	1,000 (-2%)	10mo	$142,800	$143	66
6455 Knight Cv	0.20mi	3/2.0	1,117 (+10%)	8mo	$209,900	$188	65
3530 Woodmont Cv	0.35mi	3/1.5	1,100 (+8%)	7mo	$189,500	$172	64
6450 Yorkshire Rd	0.09mi	3/2.0	1,150 (+13%)	9mo	$189,000	$164	64
3420 Laurel Dr	0.29mi	3/1.5	1,116 (+10%)	10mo	$165,000	$148	61
6215 E Carroll Cove Cv	0.42mi	3/1.5	1,110 (+9%)	9mo	$145,000	$131	57
6325 Collinwood Rd	0.35mi	3/2.0	1,162 (+14%)	2mo	$202,000	$174	56
6190 W Carroll Cv	0.40mi	3/2.0	1,160 (+14%)	8mo	$172,500	$149	49
2848 Normandy Dr	0.64mi	3/1.0	1,095 (+8%)	8mo	$167,000	$153	49

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: -10.8%
• Equity multiple: 0.62×
• Total profit: $-15,992
• Equity at exit: $22,365

10-year hold

• IRR: -6.4%
• Equity multiple: 0.64×
• Total profit: $-14,998
• Equity at exit: $12,969

Cash invested: $42,000 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,568 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $202

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 82%

Sensitivity live

Price	-10% $306	-5% $254	+0% $202	+5% $151	+10% $99
Rent	-10% $78	-5% $140	+0% $202	+5% $264	+10% $326
Rate	-1.0pp $278	-0.5pp $240	base $202	+0.5pp $163	+1.0pp $124

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6420 Forestgate Rd Horn Lake, MS	3.0	2.0	1120	$1,573	$1.40	22d	1	0.08mi
6475 Forest Glen Dr Horn Lake, MS	3.0	1.5	1100	$1,395	$1.27	44d	1	0.19mi
6165 Forestgate Rd Horn Lake, MS	3.0	1.5	1079	$1,400	$1.30	44d	1	0.21mi
3060 Fairmeadow Dr Horn Lake, MS	3.0	1.5	1104	$1,663	$1.51	2d	1	0.24mi
6230 Somerset Dr Horn Lake, MS	3.0	2.0	1204	$1,593	$1.32	3d	1	0.25mi
6420 Cornwall Rd Horn Lake, MS	3.0	2.0	1189	$1,550	$1.30	15d	1	0.26mi
3530 Mayfair Dr Horn Lake, MS	4.0	2.0	1300	$1,595	$1.23	15d	1	0.29mi
3305 Laurel Dr Horn Lake, MS	3.0	2.0	1085	$1,450	$1.34	24d	1	0.32mi
6360 Greenbriar Dr Horn Lake, MS	3.0	1.5	1328	$1,465	$1.10	44d	1	0.33mi
6585 Fairwood Cv Horn Lake, MS	3.0	2.0	1473	$1,553	$1.05	24d	1	0.35mi
6445 Collinwood Rd Horn Lake, MS	3.0	2.0	1450	$1,593	$1.10	2d	1	0.36mi
6455 Walnut Grove Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	44d	1	0.42mi
6290 Sandhurst Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	5d	1	0.42mi
6420 Sandhurst Rd Horn Lake, MS	3.0	2.0	1101	$1,623	$1.47	22d	1	0.43mi
3437 Laurelwood St Horn Lake, MS	3.0	2.0	1200	$1,480	$1.23	12d	1	0.43mi
2890 Meadowbrook Dr Horn Lake, MS	3.0	2.0	1171	$1,375	$1.17	3d	1	0.44mi
6225 Sandhurst Rd Horn Lake, MS	3.0	2.0	1200	$1,395	$1.16	44d	1	0.46mi
5905 Tulane Rd Horn Lake, MS	2.0	2.0	1342	$1,300	$0.97	22d	1	0.47mi
3560 Lakehurst Dr Horn Lake, MS	4.0	2.0	1300	$1,425	$1.10	17d	1	0.49mi
2905 Brook Cv Horn Lake, MS	3.0	1.0	1112	$1,195	$1.07	2d	1	0.50mi
2905 Brook Cv Horn Lake, MS	3.0	1.0	1112	$1,195	$1.07	22d	1	0.50mi
2900 Brachton Cv W Horn Lake, MS	2.0	2.0	1000	$1,225	$1.23	24d	1	0.52mi
2921 Normandy Dr Horn Lake, MS	3.0	1.5	1250	$1,200	$0.96	24d	1	0.53mi
3780 Southbrook Dr Horn Lake, MS	4.0	2.0	1444	$1,550	$1.07	5d	1	0.54mi
3285 Edenshire Ln Horn Lake, MS	2.0	2.0	1407	$1,573	$1.12	24d	1	0.57mi
2912 Waverly Dr Horn Lake, MS	3.0	2.0	1366	$1,793	$1.31	5d	1	0.60mi
2881 Normandy Dr Horn Lake, MS	3.0	1.5	1283	$1,450	$1.13	44d	1	0.60mi
2675 Ridgewood Cv Horn Lake, MS	3.0	1.0	1065	$1,195	$1.12	22d	1	0.62mi
2675 Ridgewood Cv Horn Lake, MS	3.0	1.0	1035	$1,195	$1.15	24d	1	0.62mi
5961 Kentwood Dr Horn Lake, MS	3.0	2.0	1290	$1,535	$1.19	24d	1	0.66mi
6270 Jamestown Ave Horn Lake, MS	3.0	2.0	1053	$1,523	$1.45	44d	1	0.67mi
6545 Hermitage Rd Horn Lake, MS	3.0	1.5	1200	$1,295	$1.08	44d	1	0.68mi
3915 Woodland Dr Horn Lake, MS	3.0	2.0	1400	$1,775	$1.27	44d	1	0.76mi
7080 Benji Ave Horn Lake, MS	3.0	2.0	1276	$1,550	$1.21	44d	1	0.84mi
2628 Hillcrest Cir Horn Lake, MS	3.0	1.0	1260	$1,275	$1.01	44d	1	0.84mi
7101 Tulane Rd N Horn Lake, MS	2.0–3.0	2.0	1189	$1,750	$1.47	2d	6	0.86mi
4355 Shadow Ridge Dr Horn Lake, MS	3.0	2.0	1350	$1,760	$1.30	5d	1	0.94mi
2563 Waverly Dr Horn Lake, MS	3.0	2.0	1133	$1,550	$1.37	22d	1	0.96mi
7311 Madelyn Cv Horn Lake, MS	3.0	3.0	1263	$1,395	$1.10	22d	1	0.98mi
7311 Madelyn Cv Horn Lake, MS	3.0	3.0	1263	$1,395	$1.10	24d	1	0.98mi

Listing history 24 events

1. 2026-02-09
   status Pending
2. 2026-01-23
   listed $150,000 Active
3. 2024-11-07
   soldstatus
4. 2024-11-04
   soldstatus Closed 213-char remark

   Show marketing remark (213 chars)

   Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

5. 2024-10-01
   status Pending 213-char remark

   Show marketing remark (213 chars)

   Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

6. 2024-09-26
   price $149,900 213-char remark

   Show marketing remark (213 chars)

   Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

7. 2024-09-04
   price $154,900 213-char remark

   Show marketing remark (213 chars)

   Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

8. 2024-08-22
   price $164,900 213-char remark

   Show marketing remark (213 chars)

   Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

9. 2024-08-22
   status Active 213-char remark

   Show marketing remark (213 chars)

   Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

10. 2024-08-16
    historical 213-char remark

    Show marketing remark (213 chars)

    Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

11. 2024-07-01
    price $174,900 213-char remark

    Show marketing remark (213 chars)

    Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

12. 2024-06-05
    listed $179,900 Active 213-char remark

    Show marketing remark (213 chars)

    Check out this super cute 3 bedroom, 1.5 bathroom with eat-in kitchen and plenty of cabinet space. Walk-in closet and backyard privacy fence. Great starter home or investment opportunity. Schedule a viewing today!

13. 2021-10-11
    historical
14. 2017-12-20
    soldstatus $210,000
15. 2009-01-07
    soldstatus
16. 2009-01-07
    soldstatus
17. 2008-06-12
    listed $59,900
18. 2008-03-31
    soldstatus
19. 2007-02-20
    soldstatus
20. 2007-02-08
    soldstatus
21. 2006-12-19
    listed $87,900
22. 2001-08-24
    soldstatus
23. 2001-07-17
    listed $69,900
24. 2001-07-17
    listed $64,900

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $18,819
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,506
• − Management: −$1,506
• − Depreciation: −$4,364
• Taxable income: $42
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $2,418/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

+114.6% since first listed

24 events — show timeline

• 2026-02-09 Pending — MLSU
• 2026-01-23 Listed $150,000 MLSU
• 2024-11-07 Sold (Public Records) — Public Records
• 2024-11-04 Sold (MLS) — MLSU
• 2024-10-01 Pending — MLSU
• 2024-09-26 Price Changed $149,900 MLSU
• 2024-09-04 Price Changed $154,900 MLSU
• 2024-08-22 Price Changed $164,900 MLSU
• 2024-08-22 Relisted — MLSU
• 2024-08-16 Listing Removed — MLSU
• 2024-07-01 Price Changed $174,900 MLSU
• 2024-06-05 Listed $179,900 MLSU
• 2021-10-11 Listing Removed — MLSU
• 2017-12-20 Sold (Public Records) $210,000 Public Records
• 2009-01-07 Sold (Public Records) — Public Records
• 2009-01-07 Sold (MLS) — MLSU
• 2008-06-12 Listed $59,900 MLSU
• 2008-03-31 Sold (Public Records) — Public Records
• 2007-02-20 Sold (Public Records) — Public Records
• 2007-02-08 Sold (MLS) — MLSU
• 2006-12-19 Listed $87,900 MLSU
• 2001-08-24 Sold (MLS) — MLSU
• 2001-07-17 Listed $64,900 MLSU
• 2001-07-17 Listed $69,900 MLSU

Property tax history

-36.9%/yr

Latest (2025): $8 · -99.4% YoY. Source: county tax records.