7392 Wendy Way · Walls, MS 38680

$275,000

3 bd · 2.5 ba · 1,260 sqft · SingleFamily public records · 3 Days on market

Built 2002 0.26 ac lot Est $192k · 44% over $21/mo HOA · 1% of rent

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.6/30.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.2/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome home to this beautiful 4-bedroom, 2.5-bath residence featuring an open-concept floor plan perfect for both everyday living and entertaining. The spacious great room offers a cozy gas fireplace, while the kitchen and living areas flow seamlessly together for modern comfort and convenience. The primary bedroom and en-suite bath are located on the main level, providing privacy and easy accessibility. Step outside to enjoy the covered patio overlooking the fenced backyard — ideal for relaxing, grilling, or hosting gatherings. Located in a desirable community with walking trails and scenic lakes, this home also offers the added benefit of no city taxes and USDA eligibility. Conveni

Key facts

• Cozy gas fireplace
• Covered patio
• Fenced backyard

Tags

• OPEN-CONCEPT FLOOR PLAN
• COZY GAS FIREPLACE
• COVERED PATIO
• FENCED BACKYARD
• WALKING TRAILS
• SCENIC LAKES

Property features AI

Finance

• Other: Directions: West on Goodman Rd (hwy 302), right on Delta Bluffs Blvd., right on Wendy Way; home will be on the right.
• HOA & community: Homeowners association with annual fee of $250 (covers accounting/legal, grounds maintenance, management); Community features include hiking/walking trails and a lake

Exterior

• Parking: 2-car garage; Garage faces front; Concrete driveway/parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Water connected
• Home design: Single family residence (house); Two levels; Move-in ready
• Construction: Brick construction; Architectural shingle roof; Slab foundation; Built according to public records
• Exterior features: Private yard; Back yard fencing (wood); Rain gutters; Few trees; Level, irregular lot

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave
• Bedrooms: Primary bedroom on main level; Additional bedrooms on upper level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air; Dual-zone cooling; Ceiling fans
• Interior features: Open floorplan; Eat-in kitchen; Pantry; Vaulted ceilings; Ceiling fans; Walk-in closet(s); Double pane windows; Dead bolt locks; Metal insulated doors; Fireplace
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (38.2% below list).
• Recommended offer: $170k (38.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#124 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: amenities F, commute F, employment 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: Walls Elementary School (math 24% / reading 26%, grade F, #217 of 375 statewide, top 58%, 718 students, 100% FRL); Lake Cormorant Middle (math 51% / reading 30%, grade F, #60 of 179 statewide, top 37%, 764 students, 100% FRL); Lake Cormorant High (math 29% / reading 42%, grade F, #66 of 197 statewide, top 34%, 969 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• DeSoto County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 25y 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: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,047 (38.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 0.62% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.07%
• DSCR: 0.77
• GRM: 13.5

CMA / ARV

• ARV (on-the-fly): $191,520
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7235 Lucia Ln	0.21mi	3/2.0	1,448 (+15%)	7mo	$220,000	$152	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.67×
• Total profit: $128,953
• Equity at exit: $247,742

10-year hold

• IRR: 18.8%
• Equity multiple: 6.14×
• Total profit: $395,794
• Equity at exit: $534,265

Cash invested: $77,000 (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 38680

• Home prices YoY: 4.6%
• Active inventory: 51
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $1,700 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$115
• HOA: −$21
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-325

Break-even live

Break-even rent $2,112

Max offer price $217,581

Occupancy floor —

Sensitivity live

Price	-10% $-169	-5% $-247	+0% $-325	+5% $-403	+10% $-481
Rent	-10% $-459	-5% $-392	+0% $-325	+5% $-258	+10% $-191
Rate	-1.0pp $-187	-0.5pp $-255	base $-325	+0.5pp $-396	+1.0pp $-469

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7320 MS-161 Walls, MS	2.0	2.0	1065	$1,375	$1.29	44d	1	0.71mi
7320 MS-161 Walls, MS	2.0	2.0	1065	$1,375	$1.29	11d	1	0.71mi
7320 MS-161 Walls, MS	2.0	2.0	1065	$1,375	$1.29	12d	1	0.71mi
7320 MS-161 Walls, MS	2.0	2.0	1065	$1,375	$1.29	24d	1	0.71mi
6915 Black Thorn Dr Walls, MS	4.0	2.0	1382	$1,655	$1.20	5d	1	1.12mi
6916 Fox Briar Cv Walls, MS	3.0	2.0	1350	$1,600	$1.19	5d	1	1.12mi
7787 Bailee Ln Walls, MS	4.0	2.0	1700	$2,000	$1.18	44d	1	1.19mi
6800 Mississippi 161 Walls, MS	2.0	2.0	1150	$1,345	$1.17	15d	1	1.21mi
6800 Mississippi 161 Walls, MS	3.0	2.0	1341	$1,575	$1.17	12d	1	1.21mi
6800 Mississippi 161 Walls, MS	2.0	2.0	1150	$1,345	$1.17	44d	1	1.21mi
6800 Mississippi 161 Walls, MS	2.0	2.0	1150	$1,295	$1.13	5d	1	1.21mi
6757 River Birch Rd Walls, MS	3.0	2.0	1331	$1,720	$1.29	12d	1	1.29mi
7051 Lake Forest Dr N Walls, MS	3.0	2.0	1551	$1,595	$1.03	44d	1	1.33mi

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: gas

Listing history 4 events

1. 2026-06-15
   status $275,000 Pending 3 DOM
2. 2026-06-15
   days on market $275,000 Active 3 DOM
3. 2026-06-13
   remarks 693-char remark
4. 2026-06-13
   listed $275,000 Active 1 DOM

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $2,172 · $181/mo
• Expected delta: +$1,084/yr (+$90/mo · 99.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $20,406
• − Mortgage interest: −$15,404
• − Property taxes: −$1,088
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − HOA: −$252
• − Depreciation: −$8,000
• Taxable loss: −$8,979
• Est. tax savings @ 24.0%: +$2,155
• After-tax cash flow: $-1,746/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 — Walls

• Score: 64/100
• State rank: #124
• US rank: #13666

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing C+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: DeSoto County · 176,513 people
• City population: 9,171
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 6,839
• Household income: $59,503
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 229.0

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 0.60)
• Race & ethnicity: Black 46% White 42% Hispanic / Latino 8% Two or more races 3% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Serbian 1% British 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▲ 10.29%
• Current HPI: 232.28
• Rent YoY: —
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+98.0% since first listed

19 events — show timeline

• 2026-06-11 Listed $275,000 MLSU
• 2025-07-16 Sold (Public Records) — Public Records
• 2021-10-11 Listing Removed — MLSU
• 2021-10-11 Listing Removed — MLSU
• 2013-03-05 Sold (Public Records) — Public Records
• 2013-03-04 Sold (Public Records) — Public Records
• 2013-02-28 Sold (MLS) — MLSU
• 2012-10-18 Listed $134,900 MLSU
• 2009-01-05 Sold (MLS) — MLSU
• 2008-12-03 Listed $114,900 MLSU
• 2007-08-06 Listing Removed — MLSU
• 2007-05-05 Listed $194,900 MLSU
• 2005-01-04 Sold (Public Records) — Public Records
• 2004-12-16 Sold (MLS) — MLSU
• 2004-06-28 Listed $159,900 MLSU
• 2004-05-04 Listed $165,500 MLSU
• 2004-02-20 Listed $165,500 MLSU
• 2002-02-15 Sold (MLS) — MLSU
• 2001-11-05 Listed $138,900 MLSU

Property tax history

-0.3%/yr

Latest (2025): $1,088 · +18.8% YoY. Source: county tax records.