592 Rowan Oak Pl · Hernando, MS 38632

$310,000

4 bd · 3.0 ba · 2,001 sqft · SingleFamily public records · 4 Days on market

Built 2007 0.28 ac lot $155/sqft · at area comps Est $385k · 19% under

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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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.2/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your dream home! This stunning 4-bedroom, 3-bath gem is packed with all the upgrades you could wish for. As you step inside, you'll be greeted by beautiful hardwood floors that flow through the two-story entry and the elegant formal dining room, leading you into the spacious great room. Picture cozy evenings by the corner fireplace, creating lasting memories. The heart of this home is undoubtedly the kitchen! It's perfect for entertaining, with tons of counter space and a large wrap-around island that features a bar and sink, making it easy to keep the conversation flowing while you whip up your favorite meals. You'll love the gleaming granite tile countertops, double ovens, smooth cooktop, and the chic granite backsplash that ties it all together. Upstairs, you'll find two additional bedrooms, while the primary suite offers a little slice of paradise with not one, but two walk-in closets and double vanities because who doesn't want their own space to unwind? With two bedrooms on the main floor and a layout that invites natural light, this home is not just a place to live; it's a place to thrive. Come see for yourself and imagine the life you could create here!

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 2007

Property features AI

Finance

• HOA & community: Curbs in the community

Exterior

• Parking: Attached garage facing the side; Concrete driveway; Two covered parking spaces (2-car garage)
• Security: Smoke detectors installed
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected; Cable available
• Home design: Single-family house; Two levels; Assessor-listed living area; Brick and siding exterior; Slab foundation; Asphalt shingle roof
• Construction: Built as a house with brick and siding construction; Slab foundation; Asphalt shingle roof
• Exterior features: Enclosed patio; Patio; Rain gutters; Gate and full wood fencing; Landscaped yard; Portable building on the property

Interior

• Kitchen: Cooktop (electric); Double oven; Microwave; Dishwasher; Disposal; Exhaust fan
• Bedrooms: Bedrooms located on multiple levels
• Flooring: Carpet; Combination of flooring types; Tile; Wood
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Other heating type; Central air conditioning; Ceiling fans for cooling; Electric and gas components; Multiple cooling units
• Interior features: Breakfast bar; Cathedral ceilings; Ceiling fans; Crown molding; Double vanity; Eat-in kitchen; Granite counters; Kitchen island; Pantry; Deadbolt locks; Hinged patio door(s); Fireplaces in dining room, great room, and hearth
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (8.2% below list).
• Recommended offer: $285k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• 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); 403 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 21y 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 $284,521 (8.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 9.1

CMA / ARV

• ARV (median comp): $384,753
• List price: $310,000
• Delta: -19.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
445 Augusta Dr	0.19mi	4/2.0	2,247 (+12%)	1mo	$345,000	$154	66
1070 W Green T Lk	0.21mi	4/2.5	2,300 (+15%)	1mo	$425,000	$185	63
1123 Tara Dr	0.50mi	4/2.0	2,100 (+5%)	3mo	$309,900	$148	62
465 Augusta Dr	0.17mi	3/2.0 (-1)	2,250 (+12%)	5mo	$319,000	$142	58
124 E Pebble Creek Cv	0.53mi	4/3.0	2,211 (+10%)	2mo	$349,900	$158	56
1501 Mount Pleasant Rd	0.40mi	4/2.0	1,798 (-10%)	6mo	$280,000	$156	55
624 S Bending Oak	0.26mi	4/2.0	2,300 (+15%)	5mo	$375,000	$163	55
815 Saddle Creek Cv	0.60mi	4/2.5	2,214 (+11%)	0mo	$349,900	$158	52
1106 Fawn Dr	0.35mi	3/2.0 (-1)	1,735 (-13%)	3mo	$307,000	$177	50
69 Lake Pointe Dr	0.70mi	3/2.5 (-1)	2,097 (+5%)	3mo	$329,000	$157	50
782 Fairway Trl	0.48mi	3/2.0 (-1)	1,800 (-10%)	5mo	$319,900	$178	48
1231 Cross Creek Dr	0.63mi	3/2.5 (-1)	2,255 (+13%)	3mo	$306,200	$136	40

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: -13.1%
• Equity multiple: 0.54×
• Total profit: $-39,924
• Equity at exit: $46,222

10-year hold

• IRR: -9.2%
• Equity multiple: 0.50×
• Total profit: $-43,179
• Equity at exit: $26,803

Cash invested: $86,800 (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 38632

• Home prices YoY: -31.8%
• Rents YoY: -0.4%
• Active inventory: 403
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,845 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$199 /mo · $2,387/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $294

Break-even live

Break-even rent $2,473

Max offer price $310,000

Occupancy floor 85%

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
814 Byhalia Rd Hernando, MS	4.0	3.0	2531	$2,400	$0.95	2d	1	0.28mi
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	23d	1	0.58mi
947 Clubhouse Dr Hernando, MS	4.0	2.0	1713	$2,495	$1.46	44d	1	0.64mi
52 Forked Creek Pkwy Hernando, MS	4.0	2.0	2300	$2,340	$1.02	44d	1	0.64mi
89 Shady Lane Cv E Hernando, MS	4.0	2.5	2500	$2,650	$1.06	12d	1	0.84mi
272 Fairway Trace Dr Lot $3800 Hernando, MS	4.0	2.0	2000	$3,800	$1.90	44d	1	1.01mi
1670 Timber Creek Dr Hernando, MS	3.0	2.0	1672	$1,945	$1.16	44d	1	1.29mi
237 US-51 Hernando, MS	4.0	4.0	2986	$3,400	$1.14	44d	1	1.35mi
2159 Timberlane St Hernando, MS	4.0	2.5	2150	$4,500	$2.09	4d	1	1.50mi

Listing history 23 events

1. 2026-05-11
   status Pending 663-char remark
2. 2026-05-07
   listed $310,000 Active 663-char remark
3. 2025-05-09
   soldstatus Closed 1202-char remark

   Show marketing remark (1202 chars)

   Welcome to your dream home! This stunning 4-bedroom, 3-bath gem is packed with all the upgrades you could wish for. As you step inside, you'll be greeted by beautiful hardwood floors that flow through the two-story entry and the elegant formal dining room, leading you into the spacious great room. Picture cozy evenings by the corner fireplace, creating lasting memories. The heart of this home is undoubtedly the kitchen! It's perfect for entertaining, with tons of counter space and a large wrap-around island that features a bar and sink, making it easy to keep the conversation flowing while you whip up your favorite meals. You'll love the gleaming granite tile countertops, double ovens, smooth cooktop, and the chic granite backsplash that ties it all together. Upstairs, you'll find two additional bedrooms, while the primary suite offers a little slice of paradise with not one, but two walk-in closets and double vanities because who doesn't want their own space to unwind? With two bedrooms on the main floor and a layout that invites natural light, this home is not just a place to live; it's a place to thrive. Come see for yourself and imagine the life you could create here!

4. 2025-05-09
   soldstatus

   Show marketing remark (1202 chars)

   Welcome to your dream home! This stunning 4-bedroom, 3-bath gem is packed with all the upgrades you could wish for. As you step inside, you'll be greeted by beautiful hardwood floors that flow through the two-story entry and the elegant formal dining room, leading you into the spacious great room. Picture cozy evenings by the corner fireplace, creating lasting memories. The heart of this home is undoubtedly the kitchen! It's perfect for entertaining, with tons of counter space and a large wrap-around island that features a bar and sink, making it easy to keep the conversation flowing while you whip up your favorite meals. You'll love the gleaming granite tile countertops, double ovens, smooth cooktop, and the chic granite backsplash that ties it all together. Upstairs, you'll find two additional bedrooms, while the primary suite offers a little slice of paradise with not one, but two walk-in closets and double vanities because who doesn't want their own space to unwind? With two bedrooms on the main floor and a layout that invites natural light, this home is not just a place to live; it's a place to thrive. Come see for yourself and imagine the life you could create here!

5. 2025-04-03
   status Pending 1202-char remark

   Show marketing remark (1202 chars)

   Welcome to your dream home! This stunning 4-bedroom, 3-bath gem is packed with all the upgrades you could wish for. As you step inside, you'll be greeted by beautiful hardwood floors that flow through the two-story entry and the elegant formal dining room, leading you into the spacious great room. Picture cozy evenings by the corner fireplace, creating lasting memories. The heart of this home is undoubtedly the kitchen! It's perfect for entertaining, with tons of counter space and a large wrap-around island that features a bar and sink, making it easy to keep the conversation flowing while you whip up your favorite meals. You'll love the gleaming granite tile countertops, double ovens, smooth cooktop, and the chic granite backsplash that ties it all together. Upstairs, you'll find two additional bedrooms, while the primary suite offers a little slice of paradise with not one, but two walk-in closets and double vanities because who doesn't want their own space to unwind? With two bedrooms on the main floor and a layout that invites natural light, this home is not just a place to live; it's a place to thrive. Come see for yourself and imagine the life you could create here!

6. 2025-03-27
   listed $360,000 Active 1202-char remark

   Show marketing remark (1202 chars)

   Welcome to your dream home! This stunning 4-bedroom, 3-bath gem is packed with all the upgrades you could wish for. As you step inside, you'll be greeted by beautiful hardwood floors that flow through the two-story entry and the elegant formal dining room, leading you into the spacious great room. Picture cozy evenings by the corner fireplace, creating lasting memories. The heart of this home is undoubtedly the kitchen! It's perfect for entertaining, with tons of counter space and a large wrap-around island that features a bar and sink, making it easy to keep the conversation flowing while you whip up your favorite meals. You'll love the gleaming granite tile countertops, double ovens, smooth cooktop, and the chic granite backsplash that ties it all together. Upstairs, you'll find two additional bedrooms, while the primary suite offers a little slice of paradise with not one, but two walk-in closets and double vanities because who doesn't want their own space to unwind? With two bedrooms on the main floor and a layout that invites natural light, this home is not just a place to live; it's a place to thrive. Come see for yourself and imagine the life you could create here!

7. 2021-10-11
   historical
8. 2020-01-17
   historical
9. 2020-01-14
   listed $242,900
10. 2014-08-27
    historical
11. 2014-07-23
    listed $212,000
12. 2010-03-17
    soldstatus
13. 2010-03-15
    soldstatus
14. 2009-09-10
    listed $209,900
15. 2009-09-09
    historical
16. 2009-03-09
    listed $209,900
17. 2008-05-02
    listed $229,900
18. 2008-05-01
    historical
19. 2007-08-01
    listed $244,900
20. 2007-05-31
    soldstatus
21. 2006-09-17
    listed $239,900
22. 2006-09-12
    historical
23. 2005-04-15
    listed $245,900

ⓘ 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: $2,387 · $199/mo
• Projected year-2 tax: $2,449 · $204/mo
• Expected delta: +$62/yr (+$5/mo · 2.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $34,143
• − Mortgage interest: −$17,365
• − Property taxes: −$2,387
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,731
• − Management: −$2,731
• − Depreciation: −$9,018
• Taxable loss: −$1,641
• Est. tax savings @ 24.0%: +$394
• After-tax cash flow: $3,921/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

+26.1% since first listed

23 events — show timeline

• 2026-05-11 Pending — MLSU
• 2026-05-07 Listed $310,000 MLSU
• 2025-05-09 Sold (Public Records) — Public Records
• 2025-05-09 Sold (MLS) — MLSU
• 2025-04-03 Pending — MLSU
• 2025-03-27 Listed $360,000 MLSU
• 2021-10-11 Listing Removed — MLSU
• 2020-01-17 Listing Removed — MLSU
• 2020-01-14 Listed $242,900 MLSU
• 2014-08-27 Listing Removed — MLSU
• 2014-07-23 Listed $212,000 MLSU
• 2010-03-17 Sold (Public Records) — Public Records
• 2010-03-15 Sold (MLS) — MLSU
• 2009-09-10 Listed $209,900 MLSU
• 2009-09-09 Listing Removed — MLSU
• 2009-03-09 Listed $209,900 MLSU
• 2008-05-02 Listed $229,900 MLSU
• 2008-05-01 Listing Removed — MLSU
• 2007-08-01 Listed $244,900 MLSU
• 2007-05-31 Sold (MLS) — MLSU
• 2006-09-17 Listed $239,900 MLSU
• 2006-09-12 Listing Removed — MLSU
• 2005-04-15 Listed $245,900 MLSU

Property tax history

+2.2%/yr

Latest (2025): $2,387 · +16.0% YoY. Source: county tax records.