7238 Crape Myrtle Dr · Olive Branch, MS 38654

$272,500

3 bd · 2.0 ba · 1,625 sqft · SingleFamily public records · 65 Days on market

Built 2006 7,405 sqft lot $168/sqft · 8% below area Est $295k · 8% under $18/mo HOA · 1% of rent

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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 +12.4/30.0
• ARV discount +11.0/15.0
• Schools +4.0/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready!! Open Floor plan with plenty of space. This freashly painted house with new floor covering will be sure to make your family feel at home! With 3-bedroom, 2-full baths, living room, separtate dining room and expandable second floor, your family will have plenty of space to grow. The cozy fireplace will draw you in while the beautiful back yard, will give you and your family space to grill and play.

Key facts

• Open floor plan
• Large backyard
• Cozy fireplace

Tags

• OPEN FLOOR PLAN
• COZY FIREPLACE
• LARGE BACKYARD
• EXPANDABLE SECOND FLOOR

Property features AI

Finance

• HOA & community: Homeowners association with annual fee of $210; Association fee covers accounting/legal and grounds maintenance

Exterior

• Parking: Attached garage facing front; 2 garage spaces (concrete); 2 total parking spaces
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Single-family house; One story; Move-in ready
• Construction: Brick and wood siding exterior; Composition roof; Slab foundation; Built (year source: assessor)
• Exterior features: Private yard; Garden; Rain gutters; Back yard fencing; Fenced, level city lot (approx. 60 x 120)

Interior

• Kitchen: Dishwasher; Free-standing electric range; Microwave; Eat-in kitchen layout
• Bedrooms: Primary Bedroom (Main level) — 13x18; Bedroom (Main level) — 14x10; Bedroom (Main level) — 10x10
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans; Electric and gas connections for cooling; Exhaust fan
• Interior features: Eat-in kitchen; High ceilings; His and hers closets; Open floorplan; Primary bedroom on main level; Vaulted ceilings; Fireplace with blower fan (serves dining room); Deadbolt locks
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $272k.

Deal economics

• At list price, monthly cash flow is $-46 ($-555/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (25.6% below list).
• Recommended offer: $203k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.3% in Olive Branch — 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 72/100 on livability (#29 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: 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: Chickasaw Elementary School (math 27% / reading 29%, grade F, #198 of 375 statewide, top 53%, 478 students, 99% FRL); Olive Branch Middle (math 48% / reading 32%, grade F, #68 of 179 statewide, top 38%, 726 students, 100% FRL); Olive Branch High School (math 54% / reading 48%, grade D+, #17 of 197 statewide, top 9%, 1,117 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.3%/yr); 575 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); 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 65 days — a 6% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,771 (25.6% 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 65 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• GRM: 11.2

CMA / ARV

• ARV (median comp): $295,303
• List price: $272,500
• Delta: -7.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7338 Alexander Rd	0.20mi	3/2.0	1,607 (-1%)	2mo	$250,000	$156	87
7370 Fox Glen Dr	0.33mi	3/2.0	1,645 (+1%)	3mo	$260,000	$158	80
10141 Fox Chase Dr	0.50mi	3/2.0	1,596 (-2%)	3mo	$249,900	$157	71
6961 Green Way Cv	0.64mi	3/2.0	1,602 (-1%)	4mo	$255,000	$159	65
9717 S Dogwood Mnr	0.48mi	3/2.0	1,507 (-7%)	1mo	$259,000	$172	65
10035 Tally Ho Dr	0.50mi	3/2.0	1,750 (+8%)	4mo	$289,000	$165	60
10023 Goodman Rd	0.33mi	3/2.0	1,424 (-12%)	6mo	$249,900	$175	59
9861 Alexanders Ridge Dr	0.37mi	3/2.5	1,842 (+13%)	1mo	$275,000	$149	58
10185 Goodman Rd	0.46mi	4/2.0 (+1)	1,480 (-9%)	3mo	$210,000	$142	57
10174 Fox Hunt Dr	0.51mi	3/2.0	1,488 (-8%)	8mo	$260,000	$175	55
6916 Magnolia Dr	0.58mi	3/2.0	1,400 (-14%)	1mo	$245,000	$175	49
6825 Charlotte Dr	0.48mi	3/2.0	1,400 (-14%)	7mo	$239,900	$171	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: -20.5%
• Equity multiple: 0.30×
• Total profit: $-53,158
• Equity at exit: $40,631

10-year hold

• IRR: -21.0%
• Equity multiple: 0.04×
• Total profit: $-73,508
• Equity at exit: $23,561

Cash invested: $76,300 (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 38654

• Home prices YoY: -26.1%
• Rents YoY: -0.3%
• Active inventory: 575
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,028 high
• Mortgage (P&I): −$1,429
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$114
• HOA: −$18
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $-46

Break-even live

Break-even rent $2,086

Max offer price $264,332

Occupancy floor 97%

Sensitivity live

Price	-10% $108	-5% $31	+0% $-46	+5% $-123	+10% $-200
Rent	-10% $-206	-5% $-126	+0% $-46	+5% $34	+10% $114
Rate	-1.0pp $91	-0.5pp $23	base $-46	+0.5pp $-117	+1.0pp $-189

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: $68,125
• Closing costs: $8,175
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7310 Green Ash Dr Olive Branch, MS	4.0	2.5	2229	$2,160	$0.97	45d	1	0.08mi
7335 Red Maple Dr Olive Branch, MS	3.0	2.5	1935	$1,895	$0.98	5d	1	0.13mi
9961 Fox Run Dr Olive Branch, MS	3.0	2.0	1578	$2,300	$1.46	4d	1	0.14mi
7352 Alexander Rd Olive Branch, MS	3.0	2.0	1650	$1,825	$1.11	45d	1	0.22mi
6863 Delta Newberry Cv Olive Branch, MS	3.0	2.5	1600	$1,735	$1.08	6d	1	0.39mi
6866 Valerie Dr Olive Branch, MS	3.0	2.0	1500	$1,795	$1.20	45d	1	0.40mi
6813 Maury Dr Olive Branch, MS	3.0	2.0	1086	$1,395	$1.28	45d	1	0.45mi
6801 College Park Cv Olive Branch, MS	3.0	2.0	1160	$1,660	$1.43	45d	1	0.45mi
9400 Goodman Rd Olive Branch, MS	1.0–3.0	1.0–2.0	1163	$2,005	$1.72	3d	17	0.49mi
6763 Ashland Dr Olive Branch, MS	3.0	2.0	1200	$1,590	$1.32	13d	1	0.53mi
9763 Riggan Dr Olive Branch, MS	3.0	2.0	1224	$1,695	$1.38	21d	1	0.56mi
7665 Fox Hunt Dr E Olive Branch, MS	3.0	2.0	1320	$1,695	$1.28	45d	1	0.63mi
7831 Plantation Ridge Cv Olive Branch, MS	3.0	2.0	1543	$1,980	$1.28	6d	1	0.64mi
7642 Fox Hunt Dr E Olive Branch, MS	3.0	2.0	1286	$1,675	$1.30	25d	1	0.65mi
7843 Plantation Ridge Cv Olive Branch, MS	3.0	2.0	1750	$1,935	$1.11	19d	1	0.66mi
7838 Alexanders Crossing Dr Olive Branch, MS	4.0	3.0	2159	$2,220	$1.03	4d	1	0.66mi
10350 Yates Dr Olive Branch, MS	3.0	2.0	1650	$1,750	$1.06	45d	1	0.71mi
10595 Pecan Vw Olive Branch, MS	4.0	3.0	1531	$2,050	$1.34	6d	1	0.72mi
10378 Yates Dr Olive Branch, MS	3.0	2.0	1324	$1,780	$1.34	6d	1	0.73mi
6534 Valerie Dr Olive Branch, MS	4.0	2.0	1500	$1,923	$1.28	45d	1	0.75mi
6571 Ashland Dr Olive Branch, MS	3.0	2.0	1276	$1,723	$1.35	22d	1	0.75mi
10233 Curtis Dr Olive Branch, MS	3.0	2.0	1157	$1,595	$1.38	45d	1	0.76mi
6649 Magnolia Dr Olive Branch, MS	3.0	2.0	1085	$1,800	$1.66	45d	1	0.76mi
9931 Adina Cv Olive Branch, MS	3.0	2.0	1258	$1,723	$1.37	25d	1	0.77mi
10326 Curtis Dr Olive Branch, MS	3.0	2.0	1582	$1,695	$1.07	6d	1	0.82mi
10257 Palmer Dr Olive Branch, MS	3.0	2.0	1134	$1,495	$1.32	25d	1	0.86mi
10734 Ridgefield Dr Olive Branch, MS	3.0	2.0	1658	$1,830	$1.10	19d	1	0.91mi
7117 Goodman Ridge Dr Olive Branch, MS	3.0	2.0	1411	$1,755	$1.24	16d	1	0.95mi
8243 Cross Point Dr Olive Branch, MS	3.0	2.0	1398	$1,720	$1.23	4d	1	1.00mi
6178 Morgan Manor Dr E Olive Branch, MS	3.0	2.0	1411	$1,860	$1.32	13d	1	1.00mi
8255 Cross Point Dr Olive Branch, MS	3.0	2.0	1380	$1,725	$1.25	4d	1	1.01mi
6298 Seminole Dr Olive Branch, MS	3.0	2.0	1605	$2,000	$1.25	45d	1	1.01mi
10824 Ridgefield Dr Olive Branch, MS	3.0	2.0	1520	$1,785	$1.17	23d	1	1.02mi
8260 Clubview Dr Olive Branch, MS	3.0	2.0	1588	$1,875	$1.18	21d	1	1.02mi
7104 Olive Ridge Dr Olive Branch, MS	3.0	2.0	1242	$1,895	$1.53	45d	1	1.04mi
10873 E Ridge Dr Olive Branch, MS	3.0	2.0	1516	$1,730	$1.14	6d	1	1.06mi
10515 Oak Leaf Dr Olive Branch, MS	3.0	2.0	1162	$1,595	$1.37	45d	1	1.22mi
6020 Oak Ridge Dr Olive Branch, MS	3.0	2.0	1657	$1,935	$1.17	5d	1	1.23mi
9135 Tremont Dr Olive Branch, MS	4.0	2.0	1774	$2,220	$1.25	25d	1	1.28mi
5996 Southbend Ln Olive Branch, MS	4.0	2.5	1900	$1,955	$1.03	13d	1	1.29mi

HOA detail

• Monthly dues: $18 · $216/yr

Listing history 25 events

1. 2026-06-21
   days on market $272,500 Active 65 DOM
2. 2026-06-18
   days on market $272,500 Active 62 DOM
3. 2026-06-17
   days on market $272,500 Active 61 DOM
4. 2026-06-16
   days on market $272,500 Active 60 DOM
5. 2026-06-15
   days on market $272,500 Active 59 DOM
6. 2026-06-13
   days on market $272,500 Active 57 DOM
7. 2026-06-10
   days on market $272,500 Active 54 DOM
8. 2026-06-09
   days on market $272,500 Active 53 DOM
9. 2026-06-08
   days on market $272,500 Active 52 DOM
10. 2026-06-07
    days on market $272,500 Active 51 DOM
11. 2026-06-03
    days on market $272,500 Active 47 DOM
12. 2026-06-02
    days on market $272,500 Active 46 DOM
13. 2026-06-01
    days on market $272,500 Active 45 DOM
14. 2026-05-31
    days on market $272,500 Active 44 DOM
15. 2026-04-28
    price $279,900 495-char remark
16. 2026-04-17
    listed $285,000 Active 495-char remark
17. 2024-09-04
    soldstatus
18. 2024-08-23
    soldstatus Closed 418-char remark

    Show marketing remark (94 chars)

    Move-in ready home! This 3/2, open floor plan, has been updated and is ready for your family.

19. 2024-08-23
    soldstatus $264,900 Closed

    Show marketing remark (94 chars)

    Move-in ready home! This 3/2, open floor plan, has been updated and is ready for your family.

20. 2024-08-14
    status Pending

    Show marketing remark (94 chars)

    Move-in ready home! This 3/2, open floor plan, has been updated and is ready for your family.

21. 2024-08-06
    status Pending 418-char remark

    Show marketing remark (418 chars)

    Move in ready!! Open Floor plan with plenty of space. This freashly painted house with new floor covering will be sure to make your family feel at home! With 3-bedroom, 2-full baths, living room, separtate dining room and expandable second floor, your family will have plenty of space to grow. The cozy fireplace will draw you in while the beautiful back yard, will give you and your family space to grill and play.

22. 2024-07-29
    listed $259,900 Active 418-char remark

    Show marketing remark (94 chars)

    Move-in ready home! This 3/2, open floor plan, has been updated and is ready for your family.

23. 2024-07-29
    listed $259,900 Active

    Show marketing remark (94 chars)

    Move-in ready home! This 3/2, open floor plan, has been updated and is ready for your family.

24. 2006-08-30
    soldstatus
25. 2006-05-31
    listed $154,900

ⓘ 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: $1,051 · $88/mo
• Projected year-2 tax: $2,153 · $179/mo
• Expected delta: +$1,102/yr (+$92/mo · 104.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $24,333
• − Mortgage interest: −$15,264
• − Property taxes: −$1,051
• − Insurance: −$1,362
• − Repairs & maintenance: −$1,947
• − Management: −$1,947
• − HOA: −$216
• − Depreciation: −$7,927
• Taxable loss: −$5,381
• Est. tax savings @ 24.0%: +$1,292
• After-tax cash flow: $737/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 — Olive Branch

• Score: 72/100
• State rank: #29
• US rank: #6509

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment A Housing A+ Health & safety C+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olive Branch, MS
• County: DeSoto County · 176,513 people
• City population: 57,898
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 57,898
• Household income: $103,092
• Rent vs Own: 14.9% rent · 85.1% own
• Severe rent burden: 801.0

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 0.57)
• Race & ethnicity: White 57% Black 32% Hispanic / Latino 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 4% Vietnamese 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: ▼ -66.27%
• Current HPI: 187.2114
• Rent YoY: ▼ -0.34%
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+75.9% since first listed

12 events — show timeline

• 2026-05-25 Price Changed $272,500 MLSU
• 2026-04-28 Price Changed $279,900 MLSU
• 2026-04-17 Listed $285,000 MLSU
• 2024-09-04 Sold (Public Records) — Public Records
• 2024-08-23 Sold (MLS) — Memphis Area Association of Realtors(R) MLS
• 2024-08-23 Sold (MLS) — MLSU
• 2024-08-14 Pending — Memphis Area Association of Realtors(R) MLS
• 2024-08-06 Pending — MLSU
• 2024-07-29 Listed $259,900 Memphis Area Association of Realtors(R) MLS
• 2024-07-29 Listed $259,900 MLSU
• 2006-08-30 Sold (MLS) — MLSU
• 2006-05-31 Listed $154,900 MLSU

Property tax history

+5.9%/yr

Latest (2025): $1,051 · +97.1% YoY. Source: county tax records.