838 W Quitman Ct · Hernando, MS 38651

$365,900

3 bd · 2.0 ba · 2,044 sqft · SingleFamily · 196 Days on market

Built 2025 Good condition 6,534 sqft lot $179/sqft · at area comps Est $357k · at est. $50/mo HOA · 1% of rent

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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 +19.6/30.0
• ARV discount +6.4/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ Active Community! Seller will consider paying 3% towards buyers closing costs, discount points or price reduction with acceptable offer. Welcome to the Lula Plan, located in Delta Landing. Hernando's newest and most convenient mixed-use community! Similar to the popular Mesquite Plan, this stunning home offers 3 bedrooms, 2 bathrooms, and a versatile bonus room that can serve as a 4th bedroom upstairs. Designed with a split floor plan, this home provides the perfect balance of open living space and privacy. The heart of the home features a spacious living room, a beautifully designed kitchen, and a dining area—ideal for entertaining. The kitchen features custom soft-close cabinetry, granite countertops, a stylish tile backsplash, a gas or electric stove option, stainless steel appliances, and a sleek single-basin sink. Step into the primary bathroom, where you'll find a luxurious walk-through shower with floor-to-ceiling tile and dual showerheads for a spa-like experience. Additional highlights of this home include: Hardwood flooring Recessed lighting Wood shelving Floor-to-ceiling tile in all showers 6-ft windows for abundant natural light Don't miss your chance to make the Lula Plan your new home—schedule a tour today!

Key facts

• Delta landing
• Lula plan
• Split floor plan

Tags

• LULA PLAN
• DELTA LANDING
• BONUS ROOM
• SPLIT FLOOR PLAN
• SPACIOUS LIVING ROOM
• CUSTOM SOFT-CLOSE CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $366k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $366k).
• Recommended offer: $322k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $11k 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 196 days — a 12% lower offer ($322k) is reasonable based on typical stale-listing flexibility.

Recommended offer $321,992 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (median comp): $357,330
• List price: $365,900
• Delta: 2.40%
• 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
828 W Quitman Ct	0.01mi	4/2.0 (+1)	1,986 (-3%)	0mo	$355,900	$179	90
854 Coahoma Ct	0.07mi	3/2.0	2,150 (+5%)	0mo	$384,900	$179	88
654 Tallahatchie St	0.17mi	4/2.0 (+1)	2,073 (+1%)	1mo	$371,900	$179	84
617 Sunflower St	0.16mi	4/2.0 (+1)	2,084 (+2%)	2mo	$372,900	$179	83
818 W Quitman Ct	0.02mi	3/2.0	1,843 (-10%)	2mo	$329,900	$179	82
542 Sunflower St	0.23mi	4/2.5 (+1)	2,071 (+1%)	1mo	$370,900	$179	80
763 W Quitman Ct	0.08mi	4/2.0 (+1)	1,887 (-8%)	2mo	$337,900	$179	77
502 Bolivar Dr	0.29mi	3/2.5	1,933 (-5%)	0mo	$346,900	$179	75
538 Bolivar Dr	0.26mi	3/2.0	1,874 (-8%)	1mo	$338,900	$181	73
514 Bolivar Dr	0.28mi	4/2.0 (+1)	1,876 (-8%)	1mo	$338,900	$181	68
433 Sunflower St	0.32mi	3/2.0	1,810 (-11%)	1mo	$326,900	$181	65
940 Coahoma Ct	0.12mi	4/3.0 (+1)	2,327 (+14%)	1mo	$416,900	$179	61

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-32,240
• Equity at exit: $54,557

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $7,003
• Equity at exit: $31,636

Cash invested: $102,452 (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 38651

• Home prices YoY: -28.9%
• Active inventory: 121
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,800 medium
• Mortgage (P&I): −$1,919
• Tax est. 1.5%: −$457 /mo · $5,488/yr
• Insurance: −$152
• HOA: −$50
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $423

Break-even live

Break-even rent $3,264

Max offer price $365,900

Occupancy floor 84%

Sensitivity live

Price	-10% $676	-5% $550	+0% $423	+5% $297	+10% $170
Rent	-10% $123	-5% $273	+0% $423	+5% $573	+10% $724
Rate	-1.0pp $608	-0.5pp $516	base $423	+0.5pp $329	+1.0pp $232

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: $91,475
• Closing costs: $10,977
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
272 Fairway Trace Dr Lot $3800 Hernando, MS	4.0	2.0	2000	$3,800	$1.90	44d	1	1.15mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: gaselectric

Listing history 14 events

1. 2026-06-18
   days on market $365,900 Active 196 DOM
2. 2026-06-17
   days on market $365,900 Active 195 DOM
3. 2026-06-16
   days on market $365,900 Active 194 DOM
4. 2026-06-15
   days on market $365,900 Active 193 DOM
5. 2026-06-13
   days on market $365,900 Active 191 DOM
6. 2026-06-10
   days on market $365,900 Active 188 DOM
7. 2026-06-09
   days on market $365,900 Active 187 DOM
8. 2026-06-08
   days on market $365,900 Active 186 DOM
9. 2026-06-07
   days on market $365,900 Active 185 DOM
10. 2026-06-03
    days on market $365,900 Active 181 DOM
11. 2026-06-02
    days on market $365,900 Active 180 DOM
12. 2026-06-01
    days on market $365,900 Active 179 DOM
13. 2026-05-31
    days on market $365,900 Active 178 DOM
14. 2025-12-04
    listed $365,900 Active 1290-char remark

    Show marketing remark (1290 chars)

    55+ Active Community! Seller will consider paying 3% towards buyers closing costs, discount points or price reduction with acceptable offer. Welcome to the Lula Plan, located in Delta Landing. Hernando's newest and most convenient mixed-use community! Similar to the popular Mesquite Plan, this stunning home offers 3 bedrooms, 2 bathrooms, and a versatile bonus room that can serve as a 4th bedroom upstairs. Designed with a split floor plan, this home provides the perfect balance of open living space and privacy. The heart of the home features a spacious living room, a beautifully designed kitchen, and a dining area—ideal for entertaining. The kitchen features custom soft-close cabinetry, granite countertops, a stylish tile backsplash, a gas or electric stove option, stainless steel appliances, and a sleek single-basin sink. Step into the primary bathroom, where you'll find a luxurious walk-through shower with floor-to-ceiling tile and dual showerheads for a spa-like experience. Additional highlights of this home include: Hardwood flooring Recessed lighting Wood shelving Floor-to-ceiling tile in all showers 6-ft windows for abundant natural light Don't miss your chance to make the Lula Plan your new home—schedule a tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,600
• − Mortgage interest: −$20,496
• − Property taxes: −$5,488
• − Insurance: −$1,830
• − Repairs & maintenance: −$3,648
• − Management: −$3,648
• − HOA: −$600
• − Depreciation: −$10,644
• Taxable loss: −$754
• Est. tax savings @ 24.0%: +$181
• After-tax cash flow: $5,261/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 None rehab

This home is in excellent condition with a good condition score of 80. It is move-in ready with no visible repairs or maintenance needed. The highest-ROI updates would be to paint the interior walls, install modern light fixtures, and add smart home features to enhance its appeal and functionality.

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Install modern light fixtures — Modern lighting improves the home's appeal and functionality
• Both Add smart home features — Smart home features increase convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Install modern light fixtures — Modern lighting improves the home's appeal and functionality ↑
• Both Add smart home features — Smart home features increase convenience and marketability ↑

ⓘ 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

• Census place: Hernando, MS
• City population: 31,374
• Population (ZIP): 8,491

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 (66%)
• Race & ethnicity: White 66% Black 20% Hispanic / Latino 12% Two or more races 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 2% Serbian 1% Romanian 1%
• Foreign-born: 8% · Canada, Guatemala, Jamaica
• Languages at home: 88% English-only · Spanish 12%

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: ▼ -71.47%
• Current HPI: 176.28
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-12-04 Listed $365,900 MLSU