11485 Walnut Dr, Hernando, MS 38632
Price: $99,500
Beds/Baths: 2 / 2
Sq Ft: 1,384
Year Built: 1965
Β Investment Overview
Charming single-story 2-bed / 2-bath home in Hernando (38632). Vacant and ready for minor updates. Solid long-term rental demand and low vacancy make this a strong buy-and-hold opportunity.
Investment Summary
Purchase Price: $99,500
Rehab Cost (est.): $10,000
Total Project Cost: $109,500
After Repair Value (ARV): $145,000
Projected Profit (ARV β Total): $35,500
ROI (Projected Profit Γ· Total Project Cost): ~32.4%
Rental Analysis
Estimated Monthly Rent: $1,250
Annual Gross Rent: $15,000
Vacancy (3%): β$450
Effective Gross Income: $14,550
Operating Expenses:
Property Management (10%): $1,500
Property Taxes (est.): $1,000
Insurance: $1,000
Maintenance: $700
Total Operating Expenses: $4,200
Net Operating Income (NOI): $10,350
Financing
Down Payment (20%): $19,900
Loan Amount (80%): $79,600
Interest Rate: 7.0%
Term: 30 years
Monthly Mortgage (P&I): ~$529.58
Annual Debt Service: ~$6,354.97
Cash Flow & Returns
Cash Flow Before Taxes (CFBT): NOI ($10,350) β Annual Debt Service ($6,354.97) = $3,995.03 / year (~$333/month)
Cash-on-Cash Return: $3,995.03 Γ· $19,900 = ~20.08%
Cap Rate (NOI Γ· Total Project Cost): $10,350 Γ· $109,500 = ~9.45%
Key Highlights
β’ Vacant and open β easy to show.
β’ Light rehab required β fast turnaround.
β’ Strong rental yield with attractive CoC and cap rate.
β’ Ideal buy-and-hold with stable cash flow and appreciation potential.
