7259 Northbrook Dr · Horn Lake, MS 38637

$187,000

3 bd · 2.0 ba · 1,120 sqft · SingleFamily public records · 62 Days on market

Built 2000 8,276 sqft lot $167/sqft · 33% below area Est $284k · 34% 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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Schools +4.0/10.0
• 1% rule +3.7/10.0
• 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

Recent Updates to this beautiful 3 bedroom/2 bath home. New Cabinets, countertops, light fixtures, and paint. Updated bathrooms.

Key facts

• New cabinets
• Updated bathrooms
• New countertops

Tags

• NEW CABINETS
• NEW COUNTERTOPS
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $187k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/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 $163k (13.1% below list).
• Recommended offer: $163k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 5.9% in Horn Lake — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Walls Elementary School (math 24% / reading 26%, grade F, #217 of 375 statewide, top 58%, 718 students, 100% FRL); Lake Cormorant Middle (math 51% / reading 30%, grade F, #60 of 179 statewide, top 37%, 764 students, 100% FRL); Lake Cormorant High (math 29% / reading 42%, grade F, #66 of 197 statewide, top 34%, 969 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 (-0.7%/yr); 98 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% 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

• It's been on market 62 days — a 6% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 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 $162,512 (13.1% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.87% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

• ARV (median comp): $284,120
• List price: $187,000
• Delta: -34.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5579 Chapel Hill Dr	0.07mi	3/2.0	1,120 (0%)	6mo	$175,000	$156	92
5646 Briarwood Dr	0.25mi	3/1.5	1,125 (+0%)	6mo	$185,000	$164	80
5671 Chapel Hill Dr	0.14mi	3/1.0	1,067 (-5%)	11mo	$137,000	$128	72
5541 Briarwood Dr	0.20mi	3/1.0	1,140 (+2%)	20mo	$174,900	$153	67
5712 Briarwood Dr	0.29mi	3/2.0	1,143 (+2%)	21mo	$185,000	$162	66
5923 Shannon Dr	0.39mi	3/2.0	1,080 (-4%)	14mo	$174,900	$162	64
5726 Shannon Cv	0.19mi	3/1.0	1,283 (+15%)	2mo	$168,500	$131	62
5841 Shannon Drive Dr	0.31mi	3/2.0	1,200 (+7%)	18mo	$170,000	$142	58

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: -13.7%
• Equity multiple: 0.52×
• Total profit: $-25,030
• Equity at exit: $27,882

10-year hold

• IRR: -9.7%
• Equity multiple: 0.47×
• Total profit: $-27,498
• Equity at exit: $16,168

Cash invested: $52,360 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,625 high
• Mortgage (P&I): −$981
• Tax from tax record: −$67 /mo · $798/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $159

Break-even live

Break-even rent $1,424

Max offer price $187,000

Occupancy floor 85%

Sensitivity live

Price	-10% $265	-5% $212	+0% $159	+5% $106	+10% $53
Rent	-10% $30	-5% $95	+0% $159	+5% $223	+10% $287
Rate	-1.0pp $253	-0.5pp $206	base $159	+0.5pp $110	+1.0pp $61

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5565 Chapel Hill Dr Horn Lake, MS	3.0	2.0	1114	$1,543	$1.39	3d	1	0.05mi
5859 Shannon Dr Horn Lake, MS	3.0	2.0	1139	$1,523	$1.34	45d	1	0.33mi
5968 Shannon Dr Horn Lake, MS	3.0	2.0	1374	$1,650	$1.20	21d	1	0.43mi
6205 Liberty Estates Dr Walls, MS	3.0	2.0	1357	$1,555	$1.15	6d	1	0.65mi
6757 River Birch Rd Walls, MS	3.0	2.0	1331	$1,720	$1.29	13d	1	1.23mi
5229 Nail Rd Horn Lake, MS	3.0	1.0	912	$1,235	$1.35	25d	1	1.30mi
5318 Haynes Dr Horn Lake, MS	3.0	1.5	1200	$1,583	$1.32	45d	1	1.31mi
4506 Shadow Hollow Dr Horn Lake, MS	3.0	2.0	1300	$1,645	$1.27	3d	1	1.37mi
6916 Fox Briar Cv Walls, MS	3.0	2.0	1350	$1,600	$1.19	6d	1	1.38mi
6915 Black Thorn Dr Walls, MS	4.0	2.0	1382	$1,655	$1.20	6d	1	1.39mi
5840 Gray Cv Horn Lake, MS	3.0	1.0	1070	$1,295	$1.21	45d	1	1.46mi
6392 Manchester Dr Horn Lake, MS	3.0	2.0	1352	$1,715	$1.27	3d	1	1.47mi

Listing history 23 events

1. 2026-06-21
   days on market $187,000 Active 62 DOM
2. 2026-06-18
   days on market $187,000 Active 59 DOM
3. 2026-06-17
   days on market $187,000 Active 58 DOM
4. 2026-06-16
   days on market $187,000 Active 57 DOM
5. 2026-06-15
   days on market $187,000 Active 56 DOM
6. 2026-06-13
   days on market $187,000 Active 54 DOM
7. 2026-06-10
   days on market $187,000 Active 51 DOM
8. 2026-06-09
   days on market $187,000 Active 50 DOM
9. 2026-06-08
   days on market $187,000 Active 49 DOM
10. 2026-06-07
    days on market $187,000 Active 48 DOM
11. 2026-06-03
    days on market $187,000 Active 44 DOM
12. 2026-06-02
    days on market $187,000 Active 43 DOM
13. 2026-06-01
    days on market $187,000 Active 42 DOM
14. 2026-05-31
    days on market $187,000 Active 41 DOM
15. 2026-04-28
    status Active 128-char remark

    Show marketing remark (128 chars)

    Recent Updates to this beautiful 3 bedroom/2 bath home. New Cabinets, countertops, light fixtures, and paint. Updated bathrooms.

16. 2026-04-21
    status Pending 128-char remark

    Show marketing remark (128 chars)

    Recent Updates to this beautiful 3 bedroom/2 bath home. New Cabinets, countertops, light fixtures, and paint. Updated bathrooms.

17. 2026-04-11
    listed $187,000 Active 128-char remark

    Show marketing remark (128 chars)

    Recent Updates to this beautiful 3 bedroom/2 bath home. New Cabinets, countertops, light fixtures, and paint. Updated bathrooms.

18. 2025-12-12
    soldstatus
19. 2004-05-18
    soldstatus
20. 2004-05-17
    soldstatus 376-char remark

    Show marketing remark (376 chars)

    Great 3 bedroom, 2 full bath starter home in good area, Home is in Move-in condition,Great room has nice woodburning fireplace. Nothing is needed on this one. Home also has a garden area out back with a storage building. Close to schools and playground for the kids. Seller will pay all of buyers closing cost UP TO 3%, and provide a 1 year buyers warranty w/acceptable offer.

21. 2004-02-29
    listed $73,000 376-char remark

    Show marketing remark (376 chars)

    Great 3 bedroom, 2 full bath starter home in good area, Home is in Move-in condition,Great room has nice woodburning fireplace. Nothing is needed on this one. Home also has a garden area out back with a storage building. Close to schools and playground for the kids. Seller will pay all of buyers closing cost UP TO 3%, and provide a 1 year buyers warranty w/acceptable offer.

22. 2002-08-30
    soldstatus
23. 2001-08-03
    listed $72,000

ⓘ 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: $798 · $67/mo
• Projected year-2 tax: $1,477 · $123/mo
• Expected delta: +$679/yr (+$57/mo · 85.1%)

ⓘ 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 4/10 Moderate 17% 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: $19,501
• − Mortgage interest: −$10,475
• − Property taxes: −$798
• − Insurance: −$935
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$5,440
• Taxable loss: −$1,267
• Est. tax savings @ 24.0%: +$304
• After-tax cash flow: $2,209/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

+159.7% since first listed

9 events — show timeline

• 2026-04-28 Relisted — MLSU
• 2026-04-21 Pending — MLSU
• 2026-04-11 Listed $187,000 MLSU
• 2025-12-12 Sold (Public Records) — Public Records
• 2004-05-18 Sold (Public Records) — Public Records
• 2004-05-17 Sold (MLS) — MLSU
• 2004-02-29 Listed $73,000 MLSU
• 2002-08-30 Sold (MLS) — MLSU
• 2001-08-03 Listed $72,000 MLSU

Property tax history

+1.9%/yr

Latest (2025): $798 · +16.4% YoY. Source: county tax records.