7203 Angie Dr · Hernando, MS 38632

$258,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 110 Days on market

Built 2021 Good condition 3.40 ac lot ↓ 2% since listing

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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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 7203 Angie Drive in Hernando -- a beautiful 2021 Clayton home offering the perfect blend of peaceful country living and convenient access to town. Situated on 3.4 acres, this property provides privacy, space, and modern comfort all in one. With nearly 1,600 square feet, the home features an open-concept layout with three bedrooms and two full baths. The spacious living area flows seamlessly into the kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers generous cabinet storage, a large island with a wood countertop, and plenty of workspace to gather and host. The split floor plan provides privacy for the primary suite, which includes a beautifully finished bathroom with a double vanity and ample space for two. Two additional bedrooms and a full bath are located on the opposite side of the home. A generously sized laundry area adds extra convenience. Step outside to enjoy the large front porch deck -- the perfect place to relax and take in the quiet surroundings. The property also includes a storage building and a fenced area ideal for pets. If you're looking for acreage, modern finishes, and a move-in ready home just minutes from town, this one checks all the boxes.

Key facts

• Double vanity
• Split floor plan
• Large island

Tags

• OPEN-CONCEPT LAYOUT
• GENEROUS CABINET STORAGE
• LARGE ISLAND
• SPLIT FLOOR PLAN
• BEAUTIFULLY FINISHED BATHROOM
• DOUBLE VANITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $258k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-70 ($-835/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (15.9% below list).
• Recommended offer: $217k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; solid renter incomes; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 110 days — a 9% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,884 (15.9% 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 110 days. Have you received any prior offers? Is the seller open to a 16% 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: 0.84% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.6%
• Equity multiple: 0.27×
• Total profit: $-52,563
• Equity at exit: $38,469

10-year hold

• IRR: -24.7%
• Equity multiple: -0.05×
• Total profit: $-75,909
• Equity at exit: $22,307

Cash invested: $72,240 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$1,353
• Tax est. 1.5%: −$322 /mo · $3,870/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-70

Break-even live

Break-even rent $2,257

Max offer price $247,929

Occupancy floor 98%

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: $64,500
• Closing costs: $7,740
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $258,000 Active 110 DOM
2. 2026-06-17
   days on market $258,000 Active 109 DOM
3. 2026-06-16
   days on market $258,000 Active 108 DOM
4. 2026-06-15
   pricedays on market $258,000 Active 107 DOM
5. 2026-06-13
   days on market $265,000 Active 105 DOM
6. 2026-06-10
   days on market $265,000 Active 102 DOM
7. 2026-06-09
   days on market $265,000 Active 101 DOM
8. 2026-06-08
   days on market $265,000 Active 100 DOM
9. 2026-06-07
   days on market $265,000 Active 99 DOM
10. 2026-06-03
    days on market $265,000 Active 95 DOM
11. 2026-06-02
    pricedays on market $265,000 Active 94 DOM
12. 2026-06-01
    days on market $273,000 Active 93 DOM
13. 2026-05-31
    days on market $273,000 Active 92 DOM
14. 2026-03-02
    price $309,900 1248-char remark

    Show marketing remark (1248 chars)

    Welcome to 7203 Angie Drive in Hernando -- a beautiful 2021 Clayton home offering the perfect blend of peaceful country living and convenient access to town. Situated on 3.4 acres, this property provides privacy, space, and modern comfort all in one. With nearly 1,600 square feet, the home features an open-concept layout with three bedrooms and two full baths. The spacious living area flows seamlessly into the kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers generous cabinet storage, a large island with a wood countertop, and plenty of workspace to gather and host. The split floor plan provides privacy for the primary suite, which includes a beautifully finished bathroom with a double vanity and ample space for two. Two additional bedrooms and a full bath are located on the opposite side of the home. A generously sized laundry area adds extra convenience. Step outside to enjoy the large front porch deck -- the perfect place to relax and take in the quiet surroundings. The property also includes a storage building and a fenced area ideal for pets. If you're looking for acreage, modern finishes, and a move-in ready home just minutes from town, this one checks all the boxes.

15. 2026-02-26
    listed $314,900 Active 1248-char remark

    Show marketing remark (1248 chars)

    Welcome to 7203 Angie Drive in Hernando -- a beautiful 2021 Clayton home offering the perfect blend of peaceful country living and convenient access to town. Situated on 3.4 acres, this property provides privacy, space, and modern comfort all in one. With nearly 1,600 square feet, the home features an open-concept layout with three bedrooms and two full baths. The spacious living area flows seamlessly into the kitchen, creating an ideal setup for both everyday living and entertaining. The kitchen offers generous cabinet storage, a large island with a wood countertop, and plenty of workspace to gather and host. The split floor plan provides privacy for the primary suite, which includes a beautifully finished bathroom with a double vanity and ample space for two. Two additional bedrooms and a full bath are located on the opposite side of the home. A generously sized laundry area adds extra convenience. Step outside to enjoy the large front porch deck -- the perfect place to relax and take in the quiet surroundings. The property also includes a storage building and a fenced area ideal for pets. If you're looking for acreage, modern finishes, and a move-in ready home just minutes from town, this one checks all the boxes.

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $26,026
• − Mortgage interest: −$14,452
• − Property taxes: −$3,870
• − Insurance: −$1,290
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$7,505
• Taxable loss: −$5,256
• Est. tax savings @ 24.0%: +$1,261
• After-tax cash flow: $426/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 2021 Clayton home offers a good condition with modern amenities and a spacious layout, making it a solid investment.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value
• Rental Replace window screens — Screens keep bugs out and maintain property condition
• Both Install smart home security system — Enhances safety and can be marketed as a feature

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value ↑
• Rental Replace window screens — Screens keep bugs out and maintain property condition ↑
• Both Install smart home security system — Enhances safety and can be marketed as a feature ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-1.6% since first listed

2 events — show timeline

• 2026-03-02 Price Changed $309,900 MLSU
• 2026-02-26 Listed $314,900 MLSU

Property tax history

-1.5%/yr

Latest (2025): $487 · -21.6% YoY. Source: county tax records.