828 W Quitman Ct · Hernando, MS 38651

$355,900

4 bd · 2.0 ba · 1,986 sqft · SingleFamily · 162 Days on market

Built 2025 Good condition 6,098 sqft lot $179/sqft · at area comps Est $355k · 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 +20.9/30.0
• ARV discount +7.4/15.0
• DSCR +6.6/10.0
• 1% rule +5.7/10.0
• 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

Seller will consider offering 3% concessions towards buyers closing expenses with an acceptable offer!! Welcome to Delta Landing's 55+ active community! We invite you to be among the first to experience Hernando's premier mixed-use community, ideally situated directly across from the new Hernando High School, which is set to open in Fall 2025. This vibrant community seamlessly blends traditional living with convenient access to retail shops, restaurants, businesses, and a host of exciting developments on the horizon. This exquisite home boasts an array of high-end features, including hardwood flooring in the main living areas and the primary bedroom, custom cabinetry, a stylish tiled backsplash, elegant Quartz countertops, a single basin kitchen sink, and stainless steel appliances. Choose between a gas or electric stove top to suit your culinary preferences. As you enter through the grand 9-foot front door, you are welcomed into the foyer. Just off the foyer are the two large downstairs guest bedrooms and a guest bath featuring a tub/shower combination adorned with a striking tiled wall that extends to the ceiling. Head the other direction and you will be led to the living area that features a massive living room along with a formal dining room as well. We cannot forget to mention the kitchen that is designed for both functionality and style, featuring a Quartz Kitchen Island that overlooks the living room. This thoughtfully designed split floor plan features the primary suite just off of the living room, while the two additional bedrooms and a full bathroom are located at the front of the home. The primary bath offers a luxurious experience with a walk-in shower, a relaxing soaker tub, two vanities, and a generous walk-in closet. Ascend the stairs to discover a spacious 13x10 bonus room, complete with a closet, which can serve as a fourth bedroom or an ideal recreational space. Additionally, a walk-in attic provides ample storage solutions. Step outside to enjoy serene views from the oversized 25x9 covered patio, an ideal space for relaxation and entertaining. Don't miss this opportunity to secure this stunning home in a thriving community—schedule your visit today!

Key facts

• Hardwood flooring
• Custom cabinetry
• Quartz countertops

Tags

• HARDWOOD FLOORING
• CUSTOM CABINETRY
• TILED BACKSPLASH
• QUARTZ COUNTERTOPS
• SINGLE BASIN KITCHEN SINK
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $356k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $356k).
• Recommended offer: $313k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 $2k 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 162 days — a 12% lower offer ($313k) is reasonable based on typical stale-listing flexibility.

Recommended offer $313,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 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: 1.07% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.8

CMA / ARV

• ARV (median comp): $354,870
• List price: $355,900
• Delta: 0.29%
• 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	0.00mi	4/2.0	1,986 (0%)	0mo	$355,900	$179	100
763 W Quitman Ct	0.07mi	4/2.0	1,887 (-5%)	2mo	$337,900	$179	87
617 Sunflower St	0.15mi	4/2.0	2,084 (+5%)	2mo	$372,900	$179	83
654 Tallahatchie St	0.18mi	4/2.0	2,073 (+4%)	1mo	$371,900	$179	83
818 W Quitman Ct	0.01mi	3/2.0 (-1)	1,843 (-7%)	2mo	$329,900	$179	81
542 Sunflower St	0.22mi	4/2.5	2,071 (+4%)	1mo	$370,900	$179	80
854 Coahoma Ct	0.07mi	3/2.0 (-1)	2,150 (+8%)	0mo	$384,900	$179	78
514 Bolivar Dr	0.27mi	4/2.0	1,876 (-6%)	1mo	$338,900	$181	77
502 Bolivar Dr	0.28mi	3/2.5 (-1)	1,933 (-3%)	0mo	$346,900	$179	75
538 Bolivar Dr	0.25mi	3/2.0 (-1)	1,874 (-6%)	1mo	$338,900	$181	73
526 Bolivar Dr	0.26mi	3/2.0 (-1)	1,813 (-9%)	2mo	$326,900	$180	67
433 Sunflower St	0.31mi	3/2.0 (-1)	1,810 (-9%)	1mo	$326,900	$181	65

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-26,218
• Equity at exit: $53,066

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $17,914
• Equity at exit: $30,772

Cash invested: $99,652 (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: 7.8×

Monthly cashflow live

• Estimated rent: $3,800 medium
• Mortgage (P&I): −$1,866
• Tax est. 1.5%: −$445 /mo · $5,338/yr
• Insurance: −$148
• HOA: −$50
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $492

Break-even live

Break-even rent $3,177

Max offer price $355,900

Occupancy floor 82%

Sensitivity live

Price	-10% $738	-5% $615	+0% $492	+5% $369	+10% $247
Rent	-10% $192	-5% $342	+0% $492	+5% $643	+10% $793
Rate	-1.0pp $672	-0.5pp $583	base $492	+0.5pp $400	+1.0pp $306

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: $88,975
• Closing costs: $10,677
• 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 2 events

1. 2026-05-15
   status Pending 2234-char remark

   Show marketing remark (2234 chars)

   Seller will consider offering 3% concessions towards buyers closing expenses with an acceptable offer!! Welcome to Delta Landing's 55+ active community! We invite you to be among the first to experience Hernando's premier mixed-use community, ideally situated directly across from the new Hernando High School, which is set to open in Fall 2025. This vibrant community seamlessly blends traditional living with convenient access to retail shops, restaurants, businesses, and a host of exciting developments on the horizon. This exquisite home boasts an array of high-end features, including hardwood flooring in the main living areas and the primary bedroom, custom cabinetry, a stylish tiled backsplash, elegant Quartz countertops, a single basin kitchen sink, and stainless steel appliances. Choose between a gas or electric stove top to suit your culinary preferences. As you enter through the grand 9-foot front door, you are welcomed into the foyer. Just off the foyer are the two large downstairs guest bedrooms and a guest bath featuring a tub/shower combination adorned with a striking tiled wall that extends to the ceiling. Head the other direction and you will be led to the living area that features a massive living room along with a formal dining room as well. We cannot forget to mention the kitchen that is designed for both functionality and style, featuring a Quartz Kitchen Island that overlooks the living room. This thoughtfully designed split floor plan features the primary suite just off of the living room, while the two additional bedrooms and a full bathroom are located at the front of the home. The primary bath offers a luxurious experience with a walk-in shower, a relaxing soaker tub, two vanities, and a generous walk-in closet. Ascend the stairs to discover a spacious 13x10 bonus room, complete with a closet, which can serve as a fourth bedroom or an ideal recreational space. Additionally, a walk-in attic provides ample storage solutions. Step outside to enjoy serene views from the oversized 25x9 covered patio, an ideal space for relaxation and entertaining. Don't miss this opportunity to secure this stunning home in a thriving community—schedule your visit today!

2. 2025-12-04
   listed $355,900 Active 2234-char remark

   Show marketing remark (2234 chars)

   Seller will consider offering 3% concessions towards buyers closing expenses with an acceptable offer!! Welcome to Delta Landing's 55+ active community! We invite you to be among the first to experience Hernando's premier mixed-use community, ideally situated directly across from the new Hernando High School, which is set to open in Fall 2025. This vibrant community seamlessly blends traditional living with convenient access to retail shops, restaurants, businesses, and a host of exciting developments on the horizon. This exquisite home boasts an array of high-end features, including hardwood flooring in the main living areas and the primary bedroom, custom cabinetry, a stylish tiled backsplash, elegant Quartz countertops, a single basin kitchen sink, and stainless steel appliances. Choose between a gas or electric stove top to suit your culinary preferences. As you enter through the grand 9-foot front door, you are welcomed into the foyer. Just off the foyer are the two large downstairs guest bedrooms and a guest bath featuring a tub/shower combination adorned with a striking tiled wall that extends to the ceiling. Head the other direction and you will be led to the living area that features a massive living room along with a formal dining room as well. We cannot forget to mention the kitchen that is designed for both functionality and style, featuring a Quartz Kitchen Island that overlooks the living room. This thoughtfully designed split floor plan features the primary suite just off of the living room, while the two additional bedrooms and a full bathroom are located at the front of the home. The primary bath offers a luxurious experience with a walk-in shower, a relaxing soaker tub, two vanities, and a generous walk-in closet. Ascend the stairs to discover a spacious 13x10 bonus room, complete with a closet, which can serve as a fourth bedroom or an ideal recreational space. Additionally, a walk-in attic provides ample storage solutions. Step outside to enjoy serene views from the oversized 25x9 covered patio, an ideal space for relaxation and entertaining. Don't miss this opportunity to secure this stunning home in a thriving community—schedule your visit 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: −$19,936
• − Property taxes: −$5,338
• − Insurance: −$1,780
• − Repairs & maintenance: −$3,648
• − Management: −$3,648
• − HOA: −$600
• − Depreciation: −$10,353
• Taxable income: $297
• Est. tax owed @ 24.0%: −$71
• After-tax cash flow: $5,838/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 modern finishes and a good location. It is move-in ready and would benefit from some landscaping and painting to maximize its value.

Value-add opportunities

• Both Landscaping — enhances curb appeal and adds value
• Both Painting — fresh paint can make a home more appealing
• Both Landscaping — improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — enhances curb appeal and adds value ↑
• Both Painting — fresh paint can make a home more appealing ↑
• Both Landscaping — improves curb appeal and adds value ↑

ⓘ 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

2 events — show timeline

• 2026-05-15 Pending — MLSU
• 2025-12-04 Listed $355,900 MLSU