4905 Sherry Dr · Horn Lake, MS 38637

$150,000

3 bd · 1.5 ba · 1,136 sqft · SingleFamily public records · 9 Days on market

Built 1975 0.90 ac lot Est $201k · 25% under

---

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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• 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

Welcome to 4905 Sherry Avenue located in Horn Lake Mississippi Where opportunity awaits with this 3-bedroom 1.5-bath home situated on just under 1 acre, Offering space, privacy, and endless potential. Nestled on a generous light with mature trees and A wide open yard, this property is perfect for those, looking to create their dream home or invest in a renovation project The helmet itself as a true fixer, upper, ready for your personal touch and vision. Was solid bones and a functional layout, it provides a great foundation to update and customize to your liking. A stand out feature of this property is The impressive 40 x 60 workshop, built in 2003 by BCI barn builders. Whether you need

Key facts

• 40 x 60 workshop
• Wide open yard
• Mature trees

Tags

• 40 X 60 WORKSHOP
• MATURE TREES
• WIDE OPEN YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.3% vs local median 6.0% 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, amenities F, commute 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: Horn Lake Elem (451 students, 99% FRL); Horn Lake Middle School (math 37% / reading 21%, grade F, #90 of 179 statewide, top 52%, 1,021 students, 100% FRL); Horn Lake High (math 28% / reading 30%, grade F, #98 of 197 statewide, top 49%, 1,361 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 29% at this address vs 45% district-wide (-16 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 soft (-0.7%/yr); 95 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 37% 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 $1k of loan paydown is wiped out by about $4k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $201,072
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4905 Sherry Dr	0.00mi	3/1.5	1,171 (+3%)	0mo	$150,000	$128	95
4511 Shadow Hollow Dr	0.54mi	3/2.0	1,250 (+10%)	1mo	$225,000	$180	55
6450 Bentley Cv	0.67mi	3/2.0	1,200 (+6%)	20mo	$185,000	$154	41
4181 Meadow Creek Dr	0.75mi	3/2.0	1,302 (+15%)	11mo	$230,000	$177	30

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: -9.0%
• Equity multiple: 0.68×
• Total profit: $-13,419
• Equity at exit: $22,365

10-year hold

• IRR: -4.1%
• Equity multiple: 0.77×
• Total profit: $-9,852
• Equity at exit: $12,969

Cash invested: $42,000 (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: 95
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,623 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $245

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 80%

Sensitivity live

Price	-10% $349	-5% $297	+0% $245	+5% $193	+10% $142
Rent	-10% $117	-5% $181	+0% $245	+5% $309	+10% $373
Rate	-1.0pp $321	-0.5pp $283	base $245	+0.5pp $206	+1.0pp $167

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4506 Shadow Hollow Dr Horn Lake, MS	3.0	2.0	1300	$1,645	$1.27	2d	1	0.54mi
6392 Manchester Dr Horn Lake, MS	3.0	2.0	1352	$1,715	$1.27	2d	1	0.65mi
4355 Shadow Ridge Dr Horn Lake, MS	3.0	2.0	1350	$1,760	$1.30	5d	1	0.75mi
5229 Nail Rd Horn Lake, MS	3.0	1.0	912	$1,235	$1.35	24d	1	0.77mi
5565 Chapel Hill Dr Horn Lake, MS	3.0	2.0	1114	$1,543	$1.39	2d	1	0.83mi
5318 Haynes Dr Horn Lake, MS	3.0	1.5	1200	$1,583	$1.32	44d	1	0.84mi
5840 Gray Cv Horn Lake, MS	3.0	1.0	1070	$1,295	$1.21	44d	1	0.90mi
5108 Gray Dr Horn Lake, MS	3.0	1.0	1150	$1,325	$1.15	24d	1	0.94mi
5108 Gray Dr Horn Lake, MS	3.0	1.0	1150	$1,325	$1.15	15d	1	0.94mi
3915 Woodland Dr Horn Lake, MS	3.0	2.0	1400	$1,775	$1.27	44d	1	1.01mi
6270 Jamestown Ave Horn Lake, MS	3.0	2.0	1053	$1,523	$1.45	44d	1	1.05mi
5859 Shannon Dr Horn Lake, MS	3.0	2.0	1139	$1,523	$1.34	44d	1	1.08mi
3914 Santa Fe Loop Horn Lake, MS	3.0	3.0	1238	$1,673	$1.35	24d	1	1.16mi
5968 Shannon Dr Horn Lake, MS	3.0	2.0	1374	$1,650	$1.20	21d	1	1.19mi
3780 Southbrook Dr Horn Lake, MS	4.0	2.0	1444	$1,550	$1.07	5d	1	1.21mi
6420 Sandhurst Rd Horn Lake, MS	3.0	2.0	1101	$1,623	$1.47	22d	1	1.25mi
6455 Walnut Grove Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	44d	1	1.27mi
6225 Sandhurst Rd Horn Lake, MS	3.0	2.0	1200	$1,395	$1.16	44d	1	1.28mi
3560 Lakehurst Dr Horn Lake, MS	4.0	2.0	1300	$1,425	$1.10	17d	1	1.28mi
6290 Sandhurst Rd Horn Lake, MS	3.0	2.0	1178	$1,600	$1.36	5d	1	1.28mi
4238 Highgate Dr Horn Lake, MS	3.0	2.0	1232	$1,585	$1.29	44d	1	1.28mi
6445 Collinwood Rd Horn Lake, MS	3.0	2.0	1450	$1,593	$1.10	2d	1	1.33mi
4192 Anderton Blvd Horn Lake, MS	3.0	2.0	1100	$1,575	$1.43	15d	1	1.38mi
4192 Anderton Blvd Horn Lake, MS	3.0	2.0	1100	$1,575	$1.43	24d	1	1.38mi
7340 Durango Dr Horn Lake, MS	3.0	2.0	1362	$1,705	$1.25	5d	1	1.40mi
3530 Mayfair Dr Horn Lake, MS	4.0	2.0	1300	$1,595	$1.23	15d	1	1.42mi
6420 Cornwall Rd Horn Lake, MS	3.0	2.0	1189	$1,550	$1.30	15d	1	1.43mi
6585 Fairwood Cv Horn Lake, MS	3.0	2.0	1473	$1,553	$1.05	24d	1	1.43mi
7163 Layne Dr Horn Lake, MS	3.0	2.0	1320	$1,595	$1.21	24d	1	1.46mi
6205 Liberty Estates Dr Walls, MS	3.0	2.0	1357	$1,555	$1.15	5d	1	1.47mi
4174 Highgate Dr Horn Lake, MS	3.0	1.5	1197	$1,495	$1.25	17d	1	1.49mi

Listing history 6 events

1. 2026-04-24
   status Pending
2. 2026-04-15
   listed $150,000 Active
3. 2021-10-11
   historical
4. 2016-07-11
   listed $139,000
5. 1999-10-15
   soldstatus
6. 1999-10-15
   soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,471
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,558
• − Management: −$1,558
• − Depreciation: −$4,364
• Taxable income: $590
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $2,801/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

+7.9% since first listed

6 events — show timeline

• 2026-04-24 Pending — MLSU
• 2026-04-15 Listed $150,000 MLSU
• 2021-10-11 Listing Removed — MLSU
• 2016-07-11 Listed $139,000 MLSU
• 1999-10-15 Sold (Public Records) — Public Records
• 1999-10-15 Sold (Public Records) — Public Records

Property tax history

-31.8%/yr

Latest (2025): $8 · +0.0% YoY. Source: county tax records.