364 Fairway Oaks Dr · Hernando, MS 38632

$299,900

3 bd · 3.0 ba · 1,431 sqft · SingleFamily public records · 37 Days on market

Built 1998

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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 +11.4/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• 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

This beautiful home features 3 bedrooms and 3 baths with a double garage. The home has hardwood floors, gas fire place in living room, formal dining room, and a spacious master bedroom with a luxury master bath with double vanities and separate shower and tub. The back yard is beautifully landscaped with an iron fence and sits adjacent to #1 green. The community includes Hernando golf and racquet club, memberships are available.

Key facts

• Privacy fence
• New appliances
• Granite counter tops

Tags

• HERNANDO SCHOOL DISTRICT
• NEW APPLIANCES
• NEW TILE FLOOR
• GRANITE COUNTER TOPS
• PRIVACY FENCE
• WROUGHT IRON FENCE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (24.3% below list).
• Recommended offer: $227k (24.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $9k 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 37 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $229k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $226,884 (24.3% 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 37 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.76% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• 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: -21.9%
• Equity multiple: 0.26×
• Total profit: $-61,975
• Equity at exit: $44,716

10-year hold

• IRR: -24.3%
• Equity multiple: -0.05×
• Total profit: $-88,532
• Equity at exit: $25,930

Cash invested: $83,972 (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: 11.0×

Monthly cashflow live

• Estimated rent: $2,269 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$199 /mo · $2,391/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-104

Break-even live

Break-even rent $2,401

Max offer price $281,440

Occupancy floor 100%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
947 Clubhouse Dr Hernando, MS	4.0	2.0	1713	$2,495	$1.46	43d	1	0.28mi
815 Bolivar Dr Unit 4206 Nesbit, MS	2.0	2.0	1124	$2,075	$1.85	43d	1	1.23mi
815 Bolivar Dr Unit 4205 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	43d	1	1.23mi
815 Bolivar Dr Unit 4303 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	44d	1	1.23mi
815 Bolivar Dr Unit 4301 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	23d	1	1.23mi
865 Bolivar Dr Unit 5302 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	23d	1	1.26mi
865 Bolivar Dr Unit 5307 Nesbit, MS	2.0	2.0	1124	$2,075	$1.85	14d	1	1.26mi
865 Bolivar Dr Unit 5207 Nesbit, MS	2.0	2.0	1124	$2,075	$1.85	43d	1	1.26mi
865 Bolivar Dr Unit 5106 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	43d	1	1.26mi
885 Tunica Trl Unit 1207 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	17d	1	1.27mi
885 Tunica Trl Unit 1308 Nesbit, MS	2.0	2.0	1180	$1,975	$1.67	43d	1	1.27mi
885 Tunica Trl Unit 1303 Nesbit, MS	2.0	2.0	1124	$1,975	$1.76	23d	1	1.27mi
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	23d	1	1.28mi

Listing history 19 events

1. 2026-06-18
   days on market $299,900 Active 37 DOM
2. 2026-06-17
   days on market $299,900 Active 36 DOM
3. 2026-06-16
   days on market $299,900 Active 35 DOM
4. 2026-06-15
   days on market $299,900 Active 34 DOM
5. 2026-06-13
   days on market $299,900 Active 32 DOM
6. 2026-06-10
   days on market $299,900 Active 29 DOM
7. 2026-06-09
   days on market $299,900 Active 28 DOM
8. 2026-06-08
   days on market $299,900 Active 27 DOM
9. 2026-06-07
   days on market $299,900 Active 26 DOM
10. 2026-06-03
    days on market $299,900 Active 22 DOM
11. 2026-06-02
    days on market $299,900 Active 21 DOM
12. 2026-06-01
    days on market $299,900 Active 20 DOM
13. 2026-05-31
    days on market $299,900 Active 19 DOM
14. 2026-05-12
    listed $299,900 Active 881-char remark
15. 2020-08-12
    soldstatus
16. 2020-08-07
    soldstatus $229,000 Closed 432-char remark

    Show marketing remark (432 chars)

    This beautiful home features 3 bedrooms and 3 baths with a double garage. The home has hardwood floors, gas fire place in living room, formal dining room, and a spacious master bedroom with a luxury master bath with double vanities and separate shower and tub. The back yard is beautifully landscaped with an iron fence and sits adjacent to #1 green. The community includes Hernando golf and racquet club, memberships are available.

17. 2020-07-09
    status Pending 432-char remark

    Show marketing remark (432 chars)

    This beautiful home features 3 bedrooms and 3 baths with a double garage. The home has hardwood floors, gas fire place in living room, formal dining room, and a spacious master bedroom with a luxury master bath with double vanities and separate shower and tub. The back yard is beautifully landscaped with an iron fence and sits adjacent to #1 green. The community includes Hernando golf and racquet club, memberships are available.

18. 2020-07-06
    listed $239,000 Active 432-char remark

    Show marketing remark (432 chars)

    This beautiful home features 3 bedrooms and 3 baths with a double garage. The home has hardwood floors, gas fire place in living room, formal dining room, and a spacious master bedroom with a luxury master bath with double vanities and separate shower and tub. The back yard is beautifully landscaped with an iron fence and sits adjacent to #1 green. The community includes Hernando golf and racquet club, memberships are available.

19. 1998-04-17
    soldstatus

ⓘ 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: $2,391 · $199/mo
• Projected year-2 tax: $2,391 · $199/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $27,226
• − Mortgage interest: −$16,799
• − Property taxes: −$2,391
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − Depreciation: −$8,724
• Taxable loss: −$6,544
• Est. tax savings @ 24.0%: +$1,570
• After-tax cash flow: $316/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

+25.5% since first listed

6 events — show timeline

• 2026-05-12 Listed $299,900 FSBO.com
• 2020-08-12 Sold (Public Records) — Public Records
• 2020-08-07 Sold (MLS) $229,000 Memphis Area Association of Realtors(R) MLS
• 2020-07-09 Pending — Memphis Area Association of Realtors(R) MLS
• 2020-07-06 Listed $239,000 Memphis Area Association of Realtors(R) MLS
• 1998-04-17 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,391 · +17.7% YoY. Source: county tax records.