5601 Casey Ln · Southaven, MS 38671

$210,000

3 bd · 2.0 ba · 1,246 sqft · SingleFamily public records · 6 Days on market

Built 2012 4,791 sqft lot Est $214k · at est.

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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 +12.6/30.0
• ARV discount +8.4/15.0
• Schools +4.0/10.0
• DSCR +3.8/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL 3 BEDROOM, 2 BATH HOME WITH GREATROOM FIREPLACE W/GAS LOGS. THIS IS THE SAVANNAH PLAN 1236A.

Key facts

• Open living room
• Fresh paint
• Renovated bathrooms

Tags

• RENOVATED BATHROOMS
• NEW FLOORING
• FRESH PAINT
• OPEN LIVING ROOM
• HIGH CEILINGS
• EAT-IN KITCHEN

Property features AI

Exterior

• Parking: Driveway; Parking pad; Concrete surfaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Single family house; One level; Brick exterior; Asphalt shingle roof; Slab foundation
• Construction: Brick construction
• Exterior features: Patio; Wood fence in back yard; Landscaped lot

Interior

• Kitchen: Dishwasher; Disposal; Electric range
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans for cooling
• Interior features: Ceiling fans; Eat-in kitchen; Fireplace in the living room; Rain gutters
• Laundry & utility: Laundry closet; Laundry area in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-26 ($-308/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (18.9% below list).
• Recommended offer: $170k (18.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#107 in MS) — a middle-class / working-renter tenant base. Strengths: 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: Hope Sullivan Elementary School (548 students, 100% FRL); Southaven Middle School (math 33% / reading 25%, grade F, #90 of 179 statewide, top 52%, 1,456 students, 100% FRL); Southaven High School (math 26% / reading 35%, grade F, #88 of 197 statewide, top 45%, 1,850 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 30% at this address vs 45% district-wide (-15 pts) — the specific schools serving this property underperform the Desoto County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.2%/yr); 196 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $170,363 (18.9% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.81% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $214,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5521 Bradley Dr	0.23mi	2/2.0 (-1)	1,246 (0%)	0mo	$184,900	$148	84
5448 Pollard Dr	0.15mi	2/2.0 (-1)	1,241 (-0%)	6mo	$204,900	$165	82
672 Grant Dr	0.06mi	3/2.0	1,155 (-7%)	5mo	$205,000	$177	81
622 Amber Ln	0.07mi	3/2.0	1,421 (+14%)	4mo	$234,999	$165	70
5467 Bradley Ln	0.25mi	3/2.0	1,134 (-9%)	6mo	$194,000	$171	68
5361 Kristy Ln	0.24mi	2/2.0 (-1)	1,136 (-9%)	1mo	$215,000	$189	68
5422 Worth Cv	0.47mi	2/2.0 (-1)	1,286 (+3%)	0mo	$219,000	$170	68
5572 April Dr	0.25mi	2/2.0 (-1)	1,114 (-11%)	5mo	$199,500	$179	62
5387 W Payton Dr	0.69mi	2/2.0 (-1)	1,250 (+0%)	2mo	$217,000	$174	61
1190 W E Ross Pkwy	0.60mi	2/2.0 (-1)	1,290 (+4%)	1mo	$209,000	$162	61
1260 N Payton Dr	0.62mi	2/2.0 (-1)	1,217 (-2%)	3mo	$209,900	$172	60
5348 W Payton Dr	0.66mi	2/2.0 (-1)	1,170 (-6%)	1mo	$209,900	$179	53

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-35,345
• Equity at exit: $31,312

10-year hold

• IRR: -8.5%
• Equity multiple: 0.46×
• Total profit: $-31,564
• Equity at exit: $18,157

Cash invested: $58,800 (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 38671

• Home prices YoY: -18.2%
• Rents YoY: 3.2%
• Active inventory: 196
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$183 /mo · $2,194/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-26

Break-even live

Break-even rent $1,736

Max offer price $205,461

Occupancy floor 97%

Sensitivity live

Price	-10% $93	-5% $34	+0% $-26	+5% $-85	+10% $-145
Rent	-10% $-160	-5% $-93	+0% $-26	+5% $42	+10% $109
Rate	-1.0pp $80	-0.5pp $28	base $-26	+0.5pp $-80	+1.0pp $-135

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
799 Grant Dr Southaven, MS	3.0	2.0	1380	$1,710	$1.24	23d	1	0.18mi
5367 Kalian Cv Southaven, MS	3.0	2.0	1100	$1,600	$1.45	45d	1	0.25mi
5654 April Dr Southaven, MS	2.0	2.0	1492	$1,495	$1.00	4d	1	0.27mi
5654 April Dr Southaven, MS	2.0	2.0	1492	$1,495	$1.00	6d	1	0.27mi
1028 We Ross Pkwy W Southaven, MS	2.0	2.0	1246	$1,700	$1.36	45d	1	0.44mi
5905 Airways Blvd Southaven, MS	1.0–3.0	1.0–2.0	1102	$1,475	$1.34	4d	23	0.50mi
1096 We Ross Pkwy W Southaven, MS	3.0	2.0	1445	$2,000	$1.38	45d	1	0.50mi
5186 Church Lake Dr Southaven, MS	1.0–3.0	1.0–2.0	931	$1,574	$1.69	4d	20	0.56mi
5447 Steffani Dr Southaven, MS	3.0	2.0	1300	$1,695	$1.30	25d	1	0.72mi
5381 Peppermill Dr Southaven, MS	3.0	2.0	1400	$1,950	$1.39	45d	1	0.83mi
4744 W East Ross Pkwy Southaven, MS	1.0–3.0	1.0–2.0	1054	$1,801	$1.71	5d	10	0.88mi
4740 US-51 Southaven, MS	1.0–2.0	1.0–2.0	840	$1,486	$1.77	4d	7	0.95mi
5910 Garden Walk E Southaven, MS	2.0	2.0	1157	$1,495	$1.29	25d	1	1.15mi
4375 U.S. 51 Horn Lake, MS	1.0–3.0	1.0–2.0	999	$1,662	$1.66	4d	17	1.37mi
5640 Ingleside Dr Horn Lake, MS	3.0	2.0	1500	$1,575	$1.05	6d	1	1.38mi
1800 Joy Cir Horn Lake, MS	2.0	2.0	1040	$1,399	$1.35	25d	1	1.43mi
1800 Joy Cir Horn Lake, MS	2.0	2.0	1040	$1,399	$1.35	45d	1	1.43mi
1800 Joy Cir Horn Lake, MS	2.0	2.0	1040	$1,399	$1.35	13d	1	1.43mi

Listing history 4 events

1. 2026-06-08
   statusdays on market $210,000 Pending 6 DOM
2. 2026-06-07
   days on market $210,000 Active 5 DOM
3. 2026-06-02
   remarks 614-char remark
4. 2026-06-02
   listed $210,000 Active 1 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: $2,194 · $183/mo
• Projected year-2 tax: $2,194 · $183/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 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: $20,444
• − Mortgage interest: −$11,763
• − Property taxes: −$2,194
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$6,109
• Taxable loss: −$3,943
• Est. tax savings @ 24.0%: +$946
• After-tax cash flow: $638/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 — Southaven

• Score: 65/100
• State rank: #107
• US rank: #12584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southaven, MS
• County: DeSoto County · 176,513 people
• City population: 53,755
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 37,319
• Household income: $61,843
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1583.0

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 0.58)
• Race & ethnicity: White 49% Black 42% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -49.08%
• Current HPI: 220.7875
• Rent YoY: ▲ 3.20%
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+88.6% since first listed

3 events — show timeline

• 2026-06-02 Listed $210,000 MLSU
• 2006-09-06 Sold (MLS) — MLSU
• 2006-03-25 Listed $111,370 MLSU

Property tax history

+1.7%/yr

Latest (2025): $2,194 · +12.0% YoY. Source: county tax records.