1457 E Lake Front Dr · Hernando, MS 38632

$329,900

4 bd · 2.0 ba · 1,548 sqft · Other public records · 10 Days on market

Built 2013 0.46 ac lot ↓ 51% 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 +11.9/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located right in the heart of Hernando is where you will find this one owner well maintained 4 bedroom open concept split bedroom floor plan home. Upon entering the front door you will be greeted by the high ceiling with recessed lights with a view of family room, eat in kitchen & formal dining room. Hardwood flooring and ceramic tile in areas as well as freshly painted walls, NEW WINDOWS and the feeling of being at home. The 4th bedroom/gameroom is located over the double garage with a large closet plus built in bookshelves & light fixtures installed above both shelves. Lots of nice cabinets, extra long kitchen bar at sink for plenty of bar stools plus a nice pantry off laundry room. The eat in kitchen is open to the family room with a view of the backyard and back covered patio. Large fenced backyard will accommodate a pool or room for an extra storage building or garage. This home has many bells and whistles such as crown molding, textured ceiling, large nice built in chalkboard off kitchen for making notes and a LARGE WALK IN CLOSET in primary bedroom as well as extra bedside reading light fixtures installed on each side of the king size bed. This home will accommodate large pieces of furniture if needed. LOTS OF ATTIC SPACE!!! Mr. & Mrs. Clean live here! The tubs and showers plus sinks are extremely clean and look like new! The 4th bedroom can also be a great gameroom as well as a reading room or a home school room. This is a move in ready home!!! Ceiling fans in all bedrooms!!! Laundry room off garage and kitchen has cabinets as well as a station for hanging coats or back packs or for those rainy day boots. Linen closets are in both hall areas..one by primary bedroom and one by the other 2 bedrooms down. Close to all schools and just minutes to i-69 or I-55 or Hwy 51.

Key facts

• Neighborhood pond
• Bonus room
• Covered patio

Tags

• BRAND NEW GRANITE COUNTERTOPS
• BONUS ROOM
• COVERED PATIO
• FENCED LOT
• NEIGHBORHOOD POND

Property features AI

Finance

• HOA & community: Homeowners association with fees that include grounds maintenance and management

Exterior

• Parking: Attached 2-car garage with garage door opener and concrete driveway; Total parking for 2 vehicles
• Security: Security system
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected
• Home design: Single-family house; One and one-half levels; Move-in ready
• Construction: Brick and Masonite exterior; Slab foundation; Architectural shingle roof; Year built per assessor
• Exterior features: Front porch; Patio; Rain gutters; Privacy fencing in back yard; Landscaped yard; Corner lot

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Free-standing electric range; Microwave; Eat-in kitchen and pantry
• Bedrooms: Bonus room on upper level (used as a 4th bedroom/game room) with walk-in closet
• Flooring: Ceramic tile; Hardwood
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Built-in bookcases; Breakfast bar; Cathedral ceilings; Ceiling fans; Crown molding; Double vanity; Eat-in kitchen; Pantry; Primary bedroom on main level; Recessed lighting; Walk-in closets; Hinged patio door; Dead bolt locks; Blinds; Insulated windows; Gas-log fireplace with insert in the great room
• Laundry & utility: Laundry room on main level (inside)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $330k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (24.1% below list).
• Recommended offer: $250k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 $10k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $250,356 (24.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.11%
• DSCR: 0.95
• GRM: 11.0

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: -21.2%
• Equity multiple: 0.28×
• Total profit: $-66,338
• Equity at exit: $49,189

10-year hold

• IRR: -22.8%
• Equity multiple: -0.01×
• Total profit: $-93,523
• Equity at exit: $28,524

Cash invested: $92,372 (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: 11.0×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$196 /mo · $2,350/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-86

Break-even live

Break-even rent $2,612

Max offer price $314,789

Occupancy floor 98%

Sensitivity live

Price	-10% $101	-5% $8	+0% $-86	+5% $-179	+10% $-272
Rent	-10% $-283	-5% $-184	+0% $-86	+5% $13	+10% $112
Rate	-1.0pp $81	-0.5pp $-2	base $-86	+0.5pp $-171	+1.0pp $-258

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	25d	1	0.15mi
1670 Timber Creek Dr Hernando, MS	3.0	2.0	1672	$1,945	$1.16	45d	1	0.61mi
2159 Timberlane St Hernando, MS	4.0	2.5	2150	$4,500	$2.09	6d	1	0.88mi
947 Clubhouse Dr Hernando, MS	4.0	2.0	1713	$2,495	$1.46	45d	1	1.26mi
493 Southern St Hernando, MS	3.0	3.0	1200	$1,000	$0.83	3d	1	1.39mi
249 Vaiden Ridge Cv Hernando, MS	3.0	2.5	2240	$2,300	$1.03	3d	1	1.47mi

Listing history 6 events

1. 2026-06-08
   statusdays on market $329,900 Pending 10 DOM
2. 2026-06-07
   days on market $329,900 Active 9 DOM
3. 2026-06-03
   days on market $329,900 Active 5 DOM
4. 2026-06-02
   days on market $329,900 Active 4 DOM
5. 2026-06-01
   days on market $329,900 Active 3 DOM
6. 2026-05-31
   days on market $329,900 Active 2 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: $2,350 · $196/mo
• Projected year-2 tax: $2,606 · $217/mo
• Expected delta: +$256/yr (+$21/mo · 10.9%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $30,043
• − Mortgage interest: −$18,480
• − Property taxes: −$2,350
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,403
• − Management: −$2,403
• − Depreciation: −$9,597
• Taxable loss: −$6,841
• Est. tax savings @ 24.0%: +$1,642
• After-tax cash flow: $615/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
• 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

-51.1% since first listed

10 events — show timeline

• 2026-05-29 Listed $329,900 MLSU
• 2023-04-19 Sold (Public Records) — Public Records
• 2023-04-14 Sold (MLS) — MLSU
• 2023-02-06 Pending — MLSU
• 2023-02-01 Contingent — MLSU
• 2023-01-28 Listed $329,000 MLSU
• 2013-05-13 Sold (Public Records) — Public Records
• 2013-05-08 Sold (MLS) — MLSU
• 2013-02-21 Listed $179,900 MLSU
• 2009-01-14 Sold (Public Records) $675,000 Public Records

Property tax history

+15.0%/yr

Latest (2025): $2,350 · +17.1% YoY. Source: county tax records.