208 Elkwood Ln, Hernando, MS, 38632 | $723/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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208 Elkwood Ln, Hernando, MS, 38632 | $723/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Rental property for sale in Hernando at 208 Elkwood Ln, Hernando, MS, 38632 generates $3,140/mo in rent and, after a $1,933/mo payment, leaves $723/mo in cash flow. Total monthly income is $3,140/mo, and annual cash flow is $8,679/yr on $130,909 invested. Return on cash invested sits at 26.54% in year one, and rental yield is 9.54% on a $394,900 entry. Equity gained on principal adds $2,548/yr, while 5% annual appreciation builds toward $109,104 over five years. Five-year ROI reaches 138.32% and total cumulative return in cash sums $181,079. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,140/mo property income rather than buyer’s personal income.

Single Family

Built in 2003

0.37 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to 208 Elkwood Lane, a truly move-in-ready home that checks every box style, space, and a backyard built for living! This beautiful 4-bedroom, 2.5-bath split-floor-plan home offers 2,494 square feet of well-designed space in the Hernando School District. Step inside and you'll find warm wood flooring, neutral paint, and a floor plan that just flows featuring a spacious eat-in kitchen, a formal dining room, and a large laundry room with an extra storage pantry, tucked conveniently nearby. Outside, the corner lot gives you privacy and curb appeal, while the fenced backyard is nothing short of amazing. Picture summer evenings around your huge above-ground pool, surrounded by a multi-level deck that's perfect for entertaining. In 2025, the sellers added a custom outdoor kitchen and accent lighting around the pool (and beautiful soffit lighting around the house!!), creating a true backyard retreat you'll never want to leave! This home has been lovingly maintained and thoughtfully upgraded and now, thanks to a job relocation, it can be yours. Don't wait opportunities like this don't come around often in Hernando!

Neighborhood Data

Neighborhood data shown for ZIP Code: 38632, Hernando, MS area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	12,513 (100%)
Owner Occupied HU	10,035 (80.2%)
Renter Occupied HU	1,589 (12.7%)
Vacant Housing Units	889 ( 7.1%)
Median Home Value	$352,383
Average Home Value	$379,373