5348 Haynes Dr · Horn Lake, MS 38637

$102,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 330 Days on market

Built 1981 9,147 sqft lot $109/sqft · 24% below area Est $165k · 38% under ↓ 36% since listing

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Why this score? — see what drove the B 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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +8.2/10.0
• Schools +4.0/10.0
• 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

This 3-bedroom, 1-bath home offers approximately 1,155 square feet and is being sold as is, presenting a great opportunity for investors or buyers looking for a renovation project. With plenty of potential, this fixer-upper is ready for someone to bring it back to life. Property details are given from information located off the internet. Information is to the best of our knowledge but not guaranteed. Buyer and Buyers agent must do their own due diligence.

Key facts

• 9,147 sq ft lot
• Built 1981
• Listed 329 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $102k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.9% in Horn Lake — 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 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, schools F, amenities 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 (-0.7%/yr); 97 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% 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 $705 of loan paydown is wiped out by about $3k 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 330 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $89,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 1.32% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.08%
• DSCR: 1.49
• GRM: 6.3

CMA / ARV

• ARV (median comp): $165,180
• List price: $102,000
• Delta: -38.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5951 Adams Cir	0.14mi	3/1.0 (+1)	1,030 (+10%)	12mo	$179,900	$175	62
5722 Chickasaw Dr	0.26mi	3/1.0 (+1)	1,076 (+15%)	1mo	$189,000	$176	57
5491 Adams Cir	0.16mi	3/1.0 (+1)	1,050 (+12%)	16mo	$148,900	$142	54
5820 Gray Cv	0.22mi	3/1.0 (+1)	1,052 (+12%)	14mo	$179,999	$171	53
5215 Nail Rd	0.13mi	2/1.0	1,073 (+15%)	23mo	$159,900	$149	50
5771 Ashford Dr	0.57mi	3/1.5 (+1)	967 (+3%)	16mo	$189,000	$195	48

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-3,602
• Equity at exit: $15,209

10-year hold

• IRR: 2.0%
• Equity multiple: 1.12×
• Total profit: $3,538
• Equity at exit: $8,819

Cash invested: $28,560 (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: 97
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$535
• Tax from tax record: −$225 /mo · $2,701/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $264

Break-even live

Break-even rent $1,016

Max offer price $102,000

Occupancy floor 75%

Sensitivity live

Price	-10% $322	-5% $293	+0% $264	+5% $235	+10% $206
Rent	-10% $157	-5% $210	+0% $264	+5% $317	+10% $370
Rate	-1.0pp $315	-0.5pp $290	base $264	+0.5pp $237	+1.0pp $210

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: $25,500
• Closing costs: $3,060
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5229 Nail Rd Horn Lake, MS	3.0	1.0	912	$1,235	$1.35	24d	1	0.15mi
5840 Gray Cv Horn Lake, MS	3.0	1.0	1070	$1,295	$1.21	44d	1	0.22mi
5565 Chapel Hill Dr Horn Lake, MS	3.0	2.0	1114	$1,543	$1.39	3d	1	1.29mi
6270 Jamestown Ave Horn Lake, MS	3.0	2.0	1053	$1,523	$1.45	44d	1	1.47mi

Listing history 17 events

1. 2026-06-21
   days on market $102,000 Active 330 DOM
2. 2026-06-18
   days on market $102,000 Active 327 DOM
3. 2026-06-17
   days on market $102,000 Active 326 DOM
4. 2026-06-16
   days on market $102,000 Active 325 DOM
5. 2026-06-15
   days on market $102,000 Active 324 DOM
6. 2026-06-13
   days on market $102,000 Active 322 DOM
7. 2026-06-10
   days on market $102,000 Active 319 DOM
8. 2026-06-09
   days on market $102,000 Active 318 DOM
9. 2026-06-08
   days on market $102,000 Active 317 DOM
10. 2026-06-07
    days on market $102,000 Active 316 DOM
11. 2026-06-03
    days on market $102,000 Active 312 DOM
12. 2026-06-02
    days on market $102,000 Active 311 DOM
13. 2026-06-01
    days on market $102,000 Active 310 DOM
14. 2026-05-31
    days on market $102,000 Active 309 DOM
15. 2026-05-06
    price $102,000 460-char remark

    Show marketing remark (460 chars)

    This 3-bedroom, 1-bath home offers approximately 1,155 square feet and is being sold as is, presenting a great opportunity for investors or buyers looking for a renovation project. With plenty of potential, this fixer-upper is ready for someone to bring it back to life. Property details are given from information located off the internet. Information is to the best of our knowledge but not guaranteed. Buyer and Buyers agent must do their own due diligence.

16. 2025-12-30
    price $127,000 460-char remark

    Show marketing remark (460 chars)

    This 3-bedroom, 1-bath home offers approximately 1,155 square feet and is being sold as is, presenting a great opportunity for investors or buyers looking for a renovation project. With plenty of potential, this fixer-upper is ready for someone to bring it back to life. Property details are given from information located off the internet. Information is to the best of our knowledge but not guaranteed. Buyer and Buyers agent must do their own due diligence.

17. 2025-07-24
    listed $158,813 Active 460-char remark

    Show marketing remark (460 chars)

    This 3-bedroom, 1-bath home offers approximately 1,155 square feet and is being sold as is, presenting a great opportunity for investors or buyers looking for a renovation project. With plenty of potential, this fixer-upper is ready for someone to bring it back to life. Property details are given from information located off the internet. Information is to the best of our knowledge but not guaranteed. Buyer and Buyers agent must do their own due diligence.

ⓘ 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: $2,701 · $225/mo
• Projected year-2 tax: $2,701 · $225/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 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,197
• − Mortgage interest: −$5,714
• − Property taxes: −$2,701
• − Insurance: −$510
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$2,967
• Taxable income: $1,713
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $2,754/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

-35.8% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $102,000 MLSU
• 2025-12-30 Price Changed $127,000 MLSU
• 2025-07-24 Listed $158,813 MLSU

Property tax history

-2.7%/yr

Latest (2025): $2,701 · -47.9% YoY. Source: county tax records.