604 Rowan Oak Pl · Hernando, MS 38632

$369,000

4 bd · 2.5 ba · 1,505 sqft · SingleFamily public records · 50 Days on market

Built 2014 0.29 ac lot Est $274k · 35% over

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Why this score? — see what drove the F 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 +13.2/30.0
• DSCR +4.0/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained, one-owner gem in the heart of Hernando! Featuring 3 spacious bedrooms, a bonus room with double door closet, and 2.5 baths, this home offers the perfect blend of comfort, care, and convenience. Pride of ownership shines throughout, with thoughtful upkeep and a warm, welcoming feel from the moment you step inside. The layout provides both functionality and flow--ideal for everyday living and entertaining. Enjoy peaceful mornings on the charming front porch, or unwind in the evenings on the private patio deck--perfect for relaxing or gathering with friends and loved ones. Located in the highly sought-after Hernando school district, this home offers

Key facts

• Move-in ready
• Private patio deck
• Front porch

Tags

• FRONT PORCH
• PRIVATE PATIO DECK
• MOVE-IN READY

Property features AI

Exterior

• Parking: 2-car garage; Concrete parking surfaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas available; Sewer connected; Water connected
• Home design: Single family house; Two levels; Appraiser-listed living area; Facing: not specified
• Construction: Brick construction; Shingle roof; Slab foundation; Built year: assessed by county
• Exterior features: Front porch; Rear porch; Back yard fencing

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total)
• Heating & cooling: Natural gas heating; Central air conditioning; Gas-powered cooling
• Interior features: Fireplace; Private yard

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $369k.

Deal economics

• At list price, monthly cash flow is $-4 ($-52/yr) — negative.
• To cash-flow at today's rent, offer at most $368k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (23.2% below list).
• Recommended offer: $283k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.3% 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.
• Zoned schools: Hernando Elem (779 students, 100% FRL); Hernando Middle School (math 75% / reading 57%, grade A-, #2 of 179 statewide, top 1%, 1,150 students, 100% FRL); Hernando High School (math 69% / reading 62%, grade B, #2 of 197 statewide, top 1%, 1,419 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 66% at this address vs 45% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Desoto County School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.4%/yr); 407 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• This rent runs 36% of the median local income ($94k/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 $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 50 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $283,388 (23.2% 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 50 days. Have you received any prior offers? Is the seller open to a 23% 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: 0.77% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $273,910
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1330 Pontotoc St	0.33mi	3/2.0 (-1)	1,530 (+2%)	22mo	$265,000	$173	57
1715 Tara Dr	0.68mi	3/2.0 (-1)	1,550 (+3%)	4mo	$282,500	$182	53
1380 Tara Dr	0.42mi	3/2.0 (-1)	1,551 (+3%)	20mo	$283,900	$183	51
925 Cardinal Ln	0.33mi	3/3.0 (-1)	1,585 (+5%)	23mo	$265,000	$167	49
277 Pontotoc Cv	0.32mi	3/2.0 (-1)	1,650 (+10%)	18mo	$299,900	$182	47
85 Desoto Ave	0.64mi	3/2.0 (-1)	1,404 (-7%)	15mo	$285,000	$203	40
41 Cross Creek Dr	0.66mi	3/2.0 (-1)	1,632 (+8%)	10mo	$288,000	$176	39
83 Spotted Fawn Cv	0.68mi	3/2.0 (-1)	1,684 (+12%)	19mo	$295,000	$175	26

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: -19.4%
• Equity multiple: 0.34×
• Total profit: $-68,520
• Equity at exit: $55,019

10-year hold

• IRR: -19.0%
• Equity multiple: 0.10×
• Total profit: $-92,708
• Equity at exit: $31,904

Cash invested: $103,320 (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: 407
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,834 high
• Mortgage (P&I): −$1,935
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-4

Break-even live

Break-even rent $2,839

Max offer price $368,237

Occupancy floor 95%

Sensitivity live

Price	-10% $205	-5% $100	+0% $-4	+5% $-109	+10% $-213
Rent	-10% $-228	-5% $-116	+0% $-4	+5% $108	+10% $220
Rate	-1.0pp $182	-0.5pp $90	base $-4	+0.5pp $-100	+1.0pp $-197

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	25d	1	0.58mi
947 Clubhouse Dr Hernando, MS	4.0	2.0	1713	$2,495	$1.46	45d	1	0.64mi
272 Fairway Trace Dr Lot $3800 Hernando, MS	4.0	2.0	2000	$3,800	$1.90	45d	1	1.01mi
1670 Timber Creek Dr Hernando, MS	3.0	2.0	1672	$1,945	$1.16	45d	1	1.29mi
2159 Timberlane St Hernando, MS	4.0	2.5	2150	$4,500	$2.09	6d	1	1.50mi

Listing history 9 events

1. 2026-06-03
   status $369,000 Pending 50 DOM
2. 2026-06-02
   days on market $369,000 Active 50 DOM
3. 2026-06-01
   days on market $369,000 Active 49 DOM
4. 2026-05-31
   days on market $369,000 Active 48 DOM
5. 2026-05-18
   status Pending
6. 2026-04-21
   historical Active Under Contract
7. 2026-04-05
   listed $369,000 Active
8. 2008-12-16
   historical
9. 2007-03-20
   listed $44,500

ⓘ 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: $1,851 · $154/mo
• Projected year-2 tax: $2,915 · $243/mo
• Expected delta: +$1,064/yr (+$89/mo · 57.5%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 22 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: $34,007
• − Mortgage interest: −$20,670
• − Property taxes: −$1,851
• − Insurance: −$1,845
• − Repairs & maintenance: −$2,721
• − Management: −$2,721
• − Depreciation: −$10,735
• Taxable loss: −$6,535
• Est. tax savings @ 24.0%: +$1,568
• After-tax cash flow: $1,517/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

+729.2% since first listed

5 events — show timeline

• 2026-05-18 Pending — MLSU
• 2026-04-21 Contingent — MLSU
• 2026-04-05 Listed $369,000 MLSU
• 2008-12-16 Listing Removed — MLSU
• 2007-03-20 Listed $44,500 MLSU

Property tax history

+8.6%/yr

Latest (2025): $1,851 · -11.4% YoY. Source: county tax records.