905 Gates St · Hernando, MS 38632

$340,000

3 bd · 2.0 ba · 2,172 sqft · SingleFamily public records · 56 Days on market

Built 2005 0.38 ac lot $157/sqft · 7% below area Est $355k · at est. $20/mo HOA · 1% of rent

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +9.4/15.0
• Schools +4.0/10.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT NEW COUNTRY FRENCH PLAN WITH ALL THE FEATURES YOUR BUYER WANTS. KEEPING ROOM OFF KITCHEN WITH FIREPLACE, TRAYED CEILING AND SITTING AREA IN MBR. SMOOTH CEILINGS & CROWN MOULDING. DRY STACKED STONE EXTERIOR. GENEROUS LIGHTING, CARPET & LANDSCAPE ALLOWANCE. BUYER CAN STILL CHOOSE SOME INTERIOR COLORS.

Key facts

• Eat in kitchen
• Formal dining areas
• Hearth room

Tags

• GREAT ROOM
• FORMAL DINING AREAS
• EAT IN KITCHEN
• BREAKFAST BAR
• HEARTH ROOM
• SITTING AREA

Property features AI

Finance

• Other: Directions: Highway 51 just north of Hernando - turn on Forked Creek and then right on Gates St.; home down on right
• Financial info: Financial details not provided
• HOA & community: Homeowners association with annual fee of $240 covering accounting/legal, grounds maintenance, and management; Community curbs

Exterior

• Parking: Attached 2-car garage with garage door opener and concrete drive; Total parking for 2 vehicles
• Security: No specific security systems listed
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-family house; One story; Move-in ready
• Construction: Brick and stone construction; Slab foundation; Architectural shingle roof; Built year information from assessor
• Exterior features: Rear screened porch; Wood fence enclosing backyard; Landscaped, level city lot on a cul-de-sac

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Eat-in kitchen with breakfast bar and pantry
• Bedrooms: Details not listed
• Flooring: Carpet; Tile; Simulated wood; Combination flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (forced air) - natural gas; Central air conditioning - gas
• Interior features: Cathedral ceilings; Ceiling fans; Eat-in kitchen; Entrance foyer; High ceilings; Pantry; Double vanity; Breakfast bar; Insulated doors; Insulated metal windows; Gas-log fireplace with hearth in the great room
• Laundry & utility: Laundry room located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-36 ($-432/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (20.8% below list).
• Recommended offer: $269k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 35% 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 $10k 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 56 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $269,176 (20.8% 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 56 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• GRM: 10.5

CMA / ARV

• ARV (median comp): $354,599
• List price: $340,000
• Delta: -3.27%
• 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
67 E Shady Lane Cv	0.22mi	4/3.0 (+1)	2,124 (-2%)	0mo	$359,900	$169	77
148 Forked Creek Pkwy	0.10mi	4/3.0 (+1)	2,074 (-4%)	2mo	$324,900	$157	77
815 Saddle Creek Cv	0.34mi	4/2.5 (+1)	2,214 (+2%)	0mo	$349,900	$158	74
521 Abey Ln	0.45mi	4/2.0 (+1)	2,150 (-1%)	2mo	$335,500	$156	71
124 E Pebble Creek Cv	0.35mi	4/3.0 (+1)	2,211 (+2%)	2mo	$349,900	$158	70
120 N Parkway St	0.72mi	3/2.0	2,110 (-3%)	2mo	$319,900	$152	60
445 Augusta Dr	0.67mi	4/2.0 (+1)	2,247 (+4%)	1mo	$345,000	$154	57
509 Howell Way	0.47mi	4/2.0 (+1)	1,979 (-9%)	2mo	$336,000	$170	57
1203 Lake View Dr	0.29mi	4/3.0 (+1)	2,474 (+14%)	2mo	$375,000	$152	53
1070 W Green T Lk	0.65mi	4/2.5 (+1)	2,300 (+6%)	1mo	$425,000	$185	52
208 Elkwood Ln	0.45mi	4/2.5 (+1)	2,494 (+15%)	1mo	$374,750	$150	46
1207 Howell Way	0.52mi	4/3.0 (+1)	2,462 (+13%)	2mo	$388,000	$158	43

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: -20.2%
• Equity multiple: 0.31×
• Total profit: $-65,351
• Equity at exit: $50,695

10-year hold

• IRR: -20.9%
• Equity multiple: 0.05×
• Total profit: $-90,648
• Equity at exit: $29,397

Cash invested: $95,200 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,692 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$218 /mo · $2,614/yr
• Insurance: −$142
• HOA: −$20
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $-36

Break-even live

Break-even rent $2,737

Max offer price $333,639

Occupancy floor 96%

Sensitivity live

Price	-10% $156	-5% $60	+0% $-36	+5% $-132	+10% $-228
Rent	-10% $-249	-5% $-142	+0% $-36	+5% $70	+10% $177
Rate	-1.0pp $135	-0.5pp $50	base $-36	+0.5pp $-124	+1.0pp $-214

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Shady Lane Cv E Hernando, MS	4.0	2.5	2500	$2,650	$1.06	13d	1	0.20mi
52 Forked Creek Pkwy Hernando, MS	4.0	2.0	2300	$2,340	$1.02	45d	1	0.28mi
1324 Biloxi St Hernando, MS	3.0	2.0	1594	$1,950	$1.22	25d	1	0.47mi
237 US-51 Hernando, MS	4.0	4.0	2986	$3,400	$1.14	45d	1	0.69mi
1670 Timber Creek Dr Hernando, MS	3.0	2.0	1672	$1,945	$1.16	45d	1	0.93mi
814 Byhalia Rd Hernando, MS	4.0	3.0	2531	$2,400	$0.95	3d	1	1.01mi
947 Clubhouse Dr Hernando, MS	4.0	2.0	1713	$2,495	$1.46	45d	1	1.16mi
2159 Timberlane St Hernando, MS	4.0	2.5	2150	$4,500	$2.09	6d	1	1.32mi
272 Fairway Trace Dr Lot $3800 Hernando, MS	4.0	2.0	2000	$3,800	$1.90	45d	1	1.33mi

HOA detail

• Monthly dues: $20 · $240/yr

Listing history 20 events

1. 2026-06-21
   pricedays on market $340,000 Active 56 DOM
2. 2026-06-18
   days on market $343,000 Active 53 DOM
3. 2026-06-17
   days on market $343,000 Active 52 DOM
4. 2026-06-16
   days on market $343,000 Active 51 DOM
5. 2026-06-15
   price $343,000 Active 50 DOM
6. 2026-06-15
   days on market $344,900 Active 50 DOM
7. 2026-06-13
   pricedays on market $344,900 Active 48 DOM
8. 2026-06-10
   days on market $345,000 Active 45 DOM
9. 2026-06-09
   days on market $345,000 Active 44 DOM
10. 2026-06-08
    days on market $345,000 Active 43 DOM
11. 2026-06-07
    days on market $345,000 Active 42 DOM
12. 2026-06-03
    days on market $345,000 Active 38 DOM
13. 2026-06-02
    days on market $345,000 Active 37 DOM
14. 2026-06-02
    price $345,000 Active 36 DOM
15. 2026-06-01
    days on market $348,900 Active 36 DOM
16. 2026-05-31
    days on market $348,900 Active 35 DOM
17. 2026-05-14
    status Pending 667-char remark
18. 2026-04-21
    listed $349,900 Active 667-char remark
19. 2005-03-02
    soldstatus 314-char remark

    Show marketing remark (314 chars)

    GREAT NEW COUNTRY FRENCH PLAN WITH ALL THE FEATURES YOUR BUYER WANTS. KEEPING ROOM OFF KITCHEN WITH FIREPLACE, TRAYED CEILING AND SITTING AREA IN MBR. SMOOTH CEILINGS & CROWN MOULDING. DRY STACKED STONE EXTERIOR. GENEROUS LIGHTING, CARPET & LANDSCAPE ALLOWANCE. BUYER CAN STILL CHOOSE SOME INTERIOR COLORS.

20. 2004-07-29
    listed $193,500 314-char remark

    Show marketing remark (314 chars)

    GREAT NEW COUNTRY FRENCH PLAN WITH ALL THE FEATURES YOUR BUYER WANTS. KEEPING ROOM OFF KITCHEN WITH FIREPLACE, TRAYED CEILING AND SITTING AREA IN MBR. SMOOTH CEILINGS & CROWN MOULDING. DRY STACKED STONE EXTERIOR. GENEROUS LIGHTING, CARPET & LANDSCAPE ALLOWANCE. BUYER CAN STILL CHOOSE SOME INTERIOR COLORS.

ⓘ 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: $2,614 · $218/mo
• Projected year-2 tax: $2,686 · $224/mo
• Expected delta: +$72/yr (+$6/mo · 2.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 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: $32,301
• − Mortgage interest: −$19,045
• − Property taxes: −$2,614
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,584
• − Management: −$2,584
• − HOA: −$240
• − Depreciation: −$9,891
• Taxable loss: −$6,357
• Est. tax savings @ 24.0%: +$1,526
• After-tax cash flow: $1,094/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

+75.7% since first listed

10 events — show timeline

• 2026-06-19 Price Changed $340,000 MLSU
• 2026-06-15 Price Changed $343,000 MLSU
• 2026-06-11 Price Changed $344,900 MLSU
• 2026-06-01 Price Changed $345,000 MLSU
• 2026-05-23 Price Changed $348,900 MLSU
• 2026-05-19 Relisted — MLSU
• 2026-05-14 Pending — MLSU
• 2026-04-21 Listed $349,900 MLSU
• 2005-03-02 Sold (MLS) — MLSU
• 2004-07-29 Listed $193,500 MLSU

Property tax history

+2.7%/yr

Latest (2025): $2,614 · +16.5% YoY. Source: county tax records.