2563 Waverly Dr · Horn Lake, MS 38637

$185,000

3 bd · 2.0 ba · 1,035 sqft · SingleFamily public records · 5 Days on market

Built 1997 7,405 sqft lot Est $167k · 11% over

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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 +14.2/30.0
• DSCR +4.3/10.0
• Schools +4.0/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 2-bath home offering comfortable living in a convenient Horn Lake location. The functional floor plan features a spacious living area, an eat-in kitchen with ample cabinet space, and a primary bedroom with a private bath. Enjoy easy-maintenance living with a generously sized yard perfect for outdoor activities, pets, or entertaining. Conveniently located near shopping, dining, schools, and major highways, this home is an excellent opportunity for first-time buyers, downsizers, or investors. Schedule your showing today

Key facts

• 7,405 sq ft lot
• Parking
• Built 1997

Property features AI

Exterior

• Parking: Driveway (1 parking space)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; House; One story
• Construction: Vinyl exterior; Foundation: See remarks; Built (year from public records)
• Exterior features: Asphalt shingle roof; Lot approximately 0.17 acres

Interior

• Kitchen: Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $32 ($385/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 $155k (16.2% below list).
• Recommended offer: $155k (16.2% below list) — sets the bar for 1% rule.

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: Desoto Central Primary (876 students, 100% 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); 98 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $6k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,996 (16.2% 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. 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: 0.84% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $166,635
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2650 Waverly Dr	0.09mi	3/2.0	1,034 (-0%)	13mo	$175,000	$169	84
2754 Guilford Cv	0.24mi	2/2.0 (-1)	1,049 (+1%)	24mo	$150,000	$143	62
2835 W Heatherglen Cv	0.37mi	3/2.0	1,161 (+12%)	14mo	$210,000	$181	51
6295 Greenbriar Dr	0.68mi	3/1.0	1,052 (+2%)	15mo	$140,000	$133	48
6265 Southbridge Dr	0.61mi	3/1.0	993 (-4%)	16mo	$184,900	$186	47
6266 Tulane Rd	0.74mi	3/1.0	1,084 (+5%)	15mo	$147,900	$136	41
6160 Lynnfield Rd	0.75mi	3/1.5	1,183 (+14%)	2mo	$190,000	$161	38

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: -18.3%
• Equity multiple: 0.37×
• Total profit: $-32,504
• Equity at exit: $27,584

10-year hold

• IRR: -17.5%
• Equity multiple: 0.16×
• Total profit: $-43,344
• Equity at exit: $15,995

Cash invested: $51,800 (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: 98
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,550 high
• Mortgage (P&I): −$970
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $32

Break-even live

Break-even rent $1,509

Max offer price $185,000

Occupancy floor 93%

Sensitivity live

Price	-10% $137	-5% $84	+0% $32	+5% $-20	+10% $-73
Rent	-10% $-90	-5% $-29	+0% $32	+5% $93	+10% $155
Rate	-1.0pp $125	-0.5pp $79	base $32	+0.5pp $-16	+1.0pp $-65

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2563 Waverly Dr Horn Lake, MS	3.0	2.0	1133	$1,550	$1.37	23d	1	0.02mi
5961 Kentwood Dr Horn Lake, MS	3.0	2.0	1290	$1,535	$1.19	25d	1	0.32mi
2912 Waverly Dr Horn Lake, MS	3.0	2.0	1366	$1,793	$1.31	6d	1	0.40mi
2900 Brachton Cv W Horn Lake, MS	2.0	2.0	1000	$1,225	$1.23	25d	1	0.45mi
2905 Brook Cv Horn Lake, MS	3.0	1.0	1112	$1,195	$1.07	23d	1	0.48mi
2905 Brook Cv Horn Lake, MS	3.0	1.0	1112	$1,195	$1.07	4d	1	0.48mi
5905 Tulane Rd Horn Lake, MS	2.0	2.0	1342	$1,300	$0.97	23d	1	0.53mi
5640 Ingleside Dr Horn Lake, MS	3.0	2.0	1500	$1,575	$1.05	6d	1	0.56mi
6230 Somerset Dr Horn Lake, MS	3.0	2.0	1204	$1,593	$1.32	5d	1	0.71mi
3305 Laurel Dr Horn Lake, MS	3.0	2.0	1085	$1,450	$1.34	25d	1	0.75mi
6360 Greenbriar Dr Horn Lake, MS	3.0	1.5	1328	$1,465	$1.10	45d	1	0.76mi
3060 Fairmeadow Dr Horn Lake, MS	3.0	1.5	1104	$1,663	$1.51	4d	1	0.85mi
6545 Hermitage Rd Horn Lake, MS	3.0	1.5	1200	$1,295	$1.08	45d	1	0.88mi
2675 Ridgewood Cv Horn Lake, MS	3.0	1.0	1035	$1,195	$1.15	25d	1	0.89mi
2675 Ridgewood Cv Horn Lake, MS	3.0	1.0	1065	$1,195	$1.12	23d	1	0.89mi
6475 Forest Glen Dr Horn Lake, MS	3.0	1.5	1100	$1,395	$1.27	45d	1	0.92mi
2890 Meadowbrook Dr Horn Lake, MS	3.0	2.0	1171	$1,375	$1.17	5d	1	0.99mi
6165 Forestgate Rd Horn Lake, MS	3.0	1.5	1079	$1,400	$1.30	45d	1	1.00mi
6420 Forestgate Rd Horn Lake, MS	3.0	2.0	1120	$1,573	$1.40	23d	1	1.04mi
2921 Normandy Dr Horn Lake, MS	3.0	1.5	1250	$1,200	$0.96	25d	1	1.05mi
2881 Normandy Dr Horn Lake, MS	3.0	1.5	1283	$1,450	$1.13	45d	1	1.10mi
1800 Joy Cir Horn Lake, MS	2.0	2.0	1040	$1,399	$1.35	25d	1	1.13mi
1800 Joy Cir Horn Lake, MS	2.0	2.0	1040	$1,399	$1.35	13d	1	1.13mi
1800 Joy Cir Horn Lake, MS	2.0	2.0	1040	$1,399	$1.35	45d	1	1.13mi
5381 Peppermill Dr Southaven, MS	3.0	2.0	1400	$1,950	$1.39	45d	1	1.18mi
2628 Hillcrest Cir Horn Lake, MS	3.0	1.0	1260	$1,275	$1.01	45d	1	1.19mi
6420 Cornwall Rd Horn Lake, MS	3.0	2.0	1189	$1,550	$1.30	16d	1	1.21mi
6871 Center St Horn Lake, MS	2.0	1.0	1400	$1,395	$1.00	45d	1	1.22mi
3285 Edenshire Ln Horn Lake, MS	2.0	2.0	1407	$1,573	$1.12	25d	1	1.24mi
3530 Mayfair Dr Horn Lake, MS	4.0	2.0	1300	$1,595	$1.23	16d	1	1.26mi
6225 Sandhurst Rd Horn Lake, MS	3.0	2.0	1200	$1,395	$1.16	45d	1	1.30mi
6290 Sandhurst Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	6d	1	1.30mi
6445 Collinwood Rd Horn Lake, MS	3.0	2.0	1450	$1,593	$1.10	4d	1	1.30mi
6585 Fairwood Cv Horn Lake, MS	3.0	2.0	1473	$1,553	$1.05	25d	1	1.31mi
3437 Laurelwood St Horn Lake, MS	3.0	2.0	1200	$1,480	$1.23	13d	1	1.35mi
6420 Sandhurst Rd Horn Lake, MS	3.0	2.0	1101	$1,623	$1.47	23d	1	1.35mi
6455 Walnut Grove Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	45d	1	1.36mi
3780 Southbrook Dr Horn Lake, MS	4.0	2.0	1444	$1,550	$1.07	6d	1	1.37mi
3560 Lakehurst Dr Horn Lake, MS	4.0	2.0	1300	$1,425	$1.10	19d	1	1.45mi

Listing history 4 events

1. 2026-06-21
   days on market $185,000 Active 5 DOM
2. 2026-06-18
   days on market $185,000 Active 2 DOM
3. 2026-06-16
   remarks 543-char remark
4. 2026-06-16
   listed $185,000 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: $1,741 · $145/mo
• Projected year-2 tax: $1,741 · $145/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 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $18,600
• − Mortgage interest: −$10,363
• − Property taxes: −$1,741
• − Insurance: −$925
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,382
• Taxable loss: −$2,787
• Est. tax savings @ 24.0%: +$669
• After-tax cash flow: $1,054/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

+94.7% since first listed

7 events — show timeline

• 2026-06-15 Listed $185,000 MLSU
• 2026-06-06 Rental Removed $1,550 RENTLY
• 2026-05-28 Listed for Rent $1,550 RENTLY
• 2019-02-11 Sold (Public Records) — Public Records
• 2010-01-18 Listing Removed — MLSU
• 2009-07-21 Listed $95,000 MLSU
• 1997-12-31 Sold (Public Records) — Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,741 · +14.5% YoY. Source: county tax records.