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Horn Lake, MS 38637 Sold

Emeline Drive

Horn Lake,
 MS
38637

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🛏️ 4 Bedrooms
🛁 2.5 Baths
🏠 1800 SF
🔨 Built in 2023
📐 Redbud C – 1229C
🏡 Subdivision – Baker Estates
📌 Lot 32
📊 Pro Forma
🖨 Property Report
📸 Photos
📋 Features List
📐 Floor plan
Plat Map
📞 Talk To Someone

Property Description

Turnkey Rental Start earning rental income immediately. This turnkey property will be move-in ready for tenants the day you close escrow. Our local property management team will take care of everything for you. | New Construction This is a brand new home that has never been lived in. New construction homes typically have the highest overall ROI of any single-family rental property. | Build-to-Rent Meridian's build-to-rent properties are designed to attract and retain long-term tenants. We use durable materials, modern amenities, and open floor plans. | Class A Property This property is rated Class A. It is a top-tier property in a desirable neighborhood, featuring premium construction, modern finishes, and strong rental demand—ideal for stable appreciation and high-quality tenants.

Welcome to 7782 Emeline Drive in the beautiful community of Baker Estates. 

The Redbud floor plan is ideal for families desiring the perfect balance of flexibility and efficient space utilization. At its heart lies the great room. It features a soaring ceiling, expansive windows that invite natural light, and a smart design that allows owners to establish different seating zones for relaxation, entertainment, or casual socializing. Adjoining the great room is the home’s kitchen, which boasts elegant shaker-style cabinets, stainless-steel appliances, sleek granite countertops, and a usable pantry. The kitchen’s angled island is ideal for quick meals or prep work, while its eat-in area provides a comfortable option for hosting dinners and special events. The Redbud’s primary bedroom is strategically located down the hall. It features a lavish en-suite bathroom with cultured marble countertops, soaking tub, separate tiled shower, and spacious walk-in closet. The main level also includes a handy half-bath and utility closet for added convenience. Upstairs you’ll find three additional bedrooms and a full bathroom.

Features + Upgrades

  • LVP flooring in common areas
  • Carpet in bedrooms
  • Ceramic tile in master bathrooms
  • LVP flooring in bathrooms
  • Flat paint
  • Backsplashes available (upgrade)
  • Granite or quartz (upgrade) countertops
  • Cultured marble bathroom countertops
  • 9′ or 10′ ceilings
  • Stainless steel dishwasher, microwave, electric range
  • Electric fireplace with modern mantle

📋

View List of Included Features

Incentives for Investors

💰 Up to $20,000 in Incentives
💰 Apply towards the purchase price, closing costs, home upgrades, and/or property management services through our Investor Incentive Program.
🏅 Rent Warranty
🏅 Enjoy immediate rental income from Day 1 with our rent warranty, covering the first lease term (18-24 months).
🏡 Property Upgrades
🏡 Enhance your investment with premium features such as 2” faux wood blinds, a 6-foot privacy fence, and a stainless steel refrigerator.
💵 First Tenant is Free
💵 We’ll waive the first lease-up fee and find your first tenant at no cost—equivalent to one month’s rent in savings.
✈️ Free Trip to Memphis
✈️ Pre-qualify for our Investor Exploration Program and receive complimentary airfare, lodging, property tours, and meals for you and a guest.
Limited time offer. Call (901) 300-2260 to lock in your savings.
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Speak with an investment property advisor.

Brian Conlon, Business Development

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📊 Investment Overview

Buy this property for $322,000 and earn $2,125 per month in estimated rent.

Initial Investment
Purchase Price:
$380,000
Down Payment (30%):
$150,000
Closing Costs & Fees:
$6,000
Total Cash Investment:
$156,000
Financing Details
Loan Amount (70%):
$300,000
Mortgage Rate:
6.25%
Monthly Mortgage Payment:
$2400
Annual Mortgage Payment:
$22,000
Annual Expenses
Property Taxes:
$1579.50
Insurance Premium:
$725
HOA Fees:
$200
Vacancy Loss:
$200
Maintenance Costs:
$200
Property Management:
$200
Total Annual Expenses:
$27,000
Projected Income
Estimated Monthly Rent:
$2,600
Estimated Annual Rent (GSI):
$36,000
Monthly Before Tax Cash Flow :
$6,000
Annual Before Tax Cash Flow :
$6,000
Net Operating Income (NOI) :
$6,000
Metrics & ROI
10-Year Internal Rate of Return:
11.9%
10-Year Avg. Cash-On-Cash ROI:
3.9%
Cash-On-Cash ROI + Debt Paydown ROI:
7.4%
Capitalization Rate (First Year):
5.9%
Real Estate Value in 10 Years:
$9000
Economic Assumptions
Year:
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Vacancy Rate (% of GSI):
0%
5%
5%
5%
5%
5%
5%
5%
5%
5%
Maintenance Rate (% of GOI):
2%
3%
4%
5%
5%
5%
5%
5%
5%
5%
Property Mgmt Rate (% of GOI):
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
Property Appreciation Rate:
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
Rent Appreciation Rate:
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
Expense Inflation Rate:
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
Sales Cost Rate (% of Price):
-
-
-
-
-
-
-
-
-
7%
Vacancy Rate (% of GSI):
0%
5%
5%
5%
5%
5%
5%
5%
5%
5%
Maintenance Rate (% of GOI):
2%
3%
4%
5%
5%
5%
5%
5%
5%
5%
Property Mgmt Rate (% of GOI):
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
Property Appreciation Rate:
4%
4%
4%
4%
4%
4%
4%
4%
4%
4%
Rent Appreciation Rate:
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
3.5%
Expense Inflation Rate:
3%
3%
3%
3%
3%
3%
3%
3%
3%
3%
Sales Cost Rate (% of Price):
-
-
-
-
-
-
-
-
-
7%
INITIAL INVESTMENT
?
Enter Purchase Price of the property. If you are financing the property, enter the Down Payment percentage here. For most investors, it’s usually a number between 20-30%. For a cash purchase, enter 100%. Next, enter the Closing Costs & Fees. If you are working with a lender, she can give you a good faith estimate for this line item.
Purchase Price
$ 
Closing Costs & Fees
$ 
Down Payment
$ 
=
50%
Mortgage Rate
(30 Yr Fixed)
% 
50%
INCOME AND EXPENSES
?
Enter the Monthly Rent, Annual Property Tax and Annual Insurance Premium amounts here. The tax information is available on most county property tax websites. The insurance information is available from the insurance company. It is important to research whether or not the property is located in a homeowner’s association that carries Homeowner’s Association (HOA) fees. If so, enter the annual amount.
Monthly Rent*
$ 
Annual Property Tax
$ 
Annual Insurance Premium
$ 
Annual HOA Fees
$ 
ECONOMIC ASSUMPTIONS
?
In this section, you need to make some assumptions about the property as indicated to the right. Vacancy Rate: Percentage of Gross Scheduled Income (GSI) or total annual rents possible per year. Maintenance Rate: Percentage of Gross Operating Income (GOI), or the income the property receives after accounting for vacancy. Property Management Rate: Percentage of GOI, the amount of rents actually collected by the property manager. Property Appreciation Rate: Your expectation of how the property value will appreciate. Expense Inflation Rate: The general economic inflation percentage rate. Sales Costs: Costs associated with selling property when it is finally sold, including sales commissions and closing costs. This is a one-time expense.
Vacancy Rate (% of GSI)
% Advanced +
Year 1%
Year 2%
Year 3%
Year 4%
Year 5%
Year 6%
Year 7%
Year 8%
Year 9%
Year 10%
Maintenance Rate (% of GOI)
% Advanced +
Year 1%
Year 2%
Year 3%
Year 4%
Year 5%
Year 6%
Year 7%
Year 8%
Year 9%
Year 10%
Property Mgmt Rate (% of GOI)
% Advanced +
Year 1%
Year 2%
Year 3%
Year 4%
Year 5%
Year 6%
Year 7%
Year 8%
Year 9%
Year 10%
Property Appreciation Rate
% Advanced +
Year 1%
Year 2%
Year 3%
Year 4%
Year 5%
Year 6%
Year 7%
Year 8%
Year 9%
Year 10%
Rent Appreciation Rate
% Advanced +
Year 1%
Year 2%
Year 3%
Year 4%
Year5%
Year 6%
Year 7%
Year 8%
Year 9%
Year 10%
Expense Inflation Rate
% Advanced +
Year 1%
Year 2%
Year 3%
Year 4%
Year 5%
Year 6%
Year 7%
Year 8%
Year 9%
Year 10%
Sales Cost Rate (% of Price)
%
INVESTMENT AND DEBT SERVICE CALCULATIONS
?
Investment and debt service calculations: Based on the data entered above, the investor’s total cash investment, and the monthly and annual debt service is calculated here.
Property Purchase Price
Down Payment
Closing Costs & Fees
Total Cash Investment
DEBT SERVICE SUMMARY
?
Investment and debt service calculations: Based on the data entered above, the investor’s total cash investment, and the monthly and annual debt service is calculated here.
Amount Financed
Debt Service (P&I), Monthly
Debt Service (P&I), Annual
KEY FINANCIAL RATIOS (RETURN ON INVESTMENT)
?
Key Financial Ratios are calculated as 10-year averages to the right based on the data entered above. 10-Year Average Cash on Cash ROI – ten year average of cash on cash (CoC) return. Cash-On-Cash ROI + Debt Pay Down – this is the combined return of the debt pay down and the cash on cash return. 10-Year Average Capitalization Rate – 10 year average of annual Net Operating Income of the property divided by its purchase price. This is the approximate annual CoC return for an all-cash purchase. 10-Year Internal Rate of Return (IRR) – the annual return accounting for the amount invested, cash flow earned through rents, pay down of the mortgage loan, and appreciation realized from the sale of the property. IRR is an overall return on investment metric that accounts for the amount and timing of all cash flows disbursed and received each year.
10-Year Average Cash-On-Cash ROI
Avg 10-Year CoC
Cash-On-Cash ROI + Debt Paydown ROI
Avg 10-Year CoC + Debt Paydown ROI, Excl. Appreciation
Capitalization Rate (First Year)
First Year Net Operating Income ÷ Purchase Price
10-Year Internal Rate of Return
IRR per Year
✏️ Customize the Pro Forma
🖨️ Download Pro Forma
✏️
🖨️

About These Calculations

All numbers are estimates for illustration only and not guaranteed. Actual performance, pricing, and rent may vary. This is not a commitment to sell or invest. Please consult your financial advisor. We expect the rent to be within $50 of the estimated rent. Meridian helps to protect the rental income for our investors through our rent warranty program.

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Invest In Horn Lake Real Estate

Properties / Mississippi / Horn Lake / Baker Estates / 7782 Emeline Drive
  • Baker Estates is located to the east of Walls, Mississippi and to the south of Southaven, Mississippi, minutes from the Interstate 55 exchange which leads directly to Memphis.
  • Horn Lake is recognized for its public schools and expansive parks. It is home to Delta Technical College.
  • There are big-box retailers, boutiques, restaurants, entertainment, and medical services nearby.
  • Horn Lake has a high concentration of logistics-related jobs within the city limits.
    • 🇺🇸 County - DeSoto
    • 🌳20045 SF Lot
    🏦
    $3,542 Annual Property Tax
    🛡️
    $875 Insurance Premium

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