2686 Summer Knoll Dr · Southaven, MS 38672

$329,900

3 bd · 2.0 ba · 1,752 sqft · SingleFamily public records · 130 Days on market

Built 2006 10,454 sqft lot Est $294k · 12% over

---

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).

• Cash flow +13.4/30.0
• DSCR +4.0/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae HomePath property. Nice home with all bedrooms downstairs!!! Home offers a large master bedroom with luxury bath, kitchen with stainless steel appliances, hard wood floors, formal dining room, fireplace, and wood fence. Seller has put in new carpet and new paint. Don't miss this deal! Purchase this for as little as 3% down! This property is approved for HomePath Mortgage Financing. This property is approved for HomePath Renovation Mortgage Financing. Priced as-is.

Key facts

• Custom cabinets
• Formal dining room
• Eat in kitchen

Tags

• GRANITE COUNTERTOPS
• CUSTOM CABINETS
• EAT IN KITCHEN
• FORMAL DINING ROOM
• HARDWOOD FLOORS
• LEVEL FENCED IN BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $6 ($70/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (20.4% below list).
• Recommended offer: $262k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.2% in Southaven — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#107 in MS) — a middle-class / working-renter tenant base. Strengths: 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: Desoto Central Primary (876 students, 100% FRL); Desoto Central Middle School (math 62% / reading 48%, grade B-, #15 of 179 statewide, top 8%, 1,468 students, 100% FRL); Desoto Central High School (math 36% / reading 52%, grade F, #40 of 197 statewide, top 20%, 1,995 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: 158 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,155 units permitted in DeSoto County in 2024 (0 in 5+ unit buildings).

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 130 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $262,482 (20.4% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.80% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $294,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3377 Cable Ln	0.23mi	3/2.0	1,717 (-2%)	2mo	$305,000	$178	84
2624 Champion Hills Dr	0.08mi	3/2.0	1,883 (+8%)	3mo	$315,000	$167	81
3601 Harvest Tree Dr	0.20mi	3/2.0	1,870 (+7%)	7mo	$315,000	$168	74
2930 N Hartland Dr	0.36mi	4/2.0 (+1)	1,755 (+0%)	6mo	$280,000	$160	73
2490 Marion Ln	0.26mi	4/2.0 (+1)	1,820 (+4%)	8mo	$300,000	$165	70
3543 Marion Ln	0.39mi	4/2.0 (+1)	1,822 (+4%)	1mo	$312,500	$172	70
3250 W Hartland Dr	0.34mi	4/2.0 (+1)	1,919 (+10%)	2mo	$297,900	$155	61
4135 Chaucer Cv	0.68mi	3/2.0	1,659 (-5%)	3mo	$279,900	$169	57
3128 Bryant St	0.41mi	4/2.0 (+1)	1,916 (+9%)	4mo	$321,000	$168	56
2927 Glennbury Ln	0.68mi	4/2.0 (+1)	1,787 (+2%)	6mo	$299,900	$168	55
3374 Oodie Ln	0.39mi	4/2.0 (+1)	1,930 (+10%)	7mo	$329,900	$171	54
2973 Glennbury Ln	0.70mi	3/2.0	1,850 (+6%)	8mo	$294,500	$159	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-53,176
• Equity at exit: $49,189

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-46,194
• Equity at exit: $28,524

Cash invested: $92,372 (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 38672

• Home prices YoY: -13.1%
• Active inventory: 158
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,625 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$200 /mo · $2,403/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $6

Break-even live

Break-even rent $2,617

Max offer price $329,900

Occupancy floor 95%

Sensitivity live

Price	-10% $193	-5% $99	+0% $6	+5% $-88	+10% $-181
Rent	-10% $-202	-5% $-98	+0% $6	+5% $110	+10% $213
Rate	-1.0pp $172	-0.5pp $90	base $6	+0.5pp $-80	+1.0pp $-167

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2647 Champion Hills Dr Southaven, MS	3.0	2.0	2002	$3,270	$1.63	21d	1	0.07mi
2674 Champion Hills Dr Southaven, MS	4.0	2.5	2037	$2,360	$1.16	18d	1	0.08mi
3469 Marion Ln Southaven, MS	4.0	2.0	1884	$2,280	$1.21	18d	1	0.36mi
2932 S Hartland Dr Southaven, MS	3.0	2.0	2186	$2,255	$1.03	3d	1	0.39mi
3596 Sabra Ln Southaven, MS	3.0	2.5	1868	$2,320	$1.24	3d	1	0.40mi
3080 Greenhouse Dr Southaven, MS	3.0	2.0	1767	$2,100	$1.19	45d	1	0.78mi
2928 Boffin Dr Southaven, MS	4.0	2.0	1725	$1,990	$1.15	45d	1	0.87mi
2943 Dawkins Cv Southaven, MS	4.0	2.0	1830	$2,140	$1.17	4d	1	0.90mi
3261 Vineyard Dr S Southaven, MS	4.0	2.0	1817	$2,495	$1.37	45d	1	0.96mi
2722 Nelle Ln Southaven, MS	4.0	3.0	2364	$2,320	$0.98	3d	1	1.00mi
4508 Westminister Cir Southaven, MS	4.0	3.0	2204	$2,165	$0.98	13d	1	1.06mi
3450 Bop Blvd Southaven, MS	3.0	2.0	1913	$2,136	$1.12	25d	1	1.10mi

Listing history 10 events

1. 2026-04-14
   status Pending
2. 2026-02-24
   price $329,900
3. 2025-12-05
   listed $335,000 Active
4. 2011-10-26
   soldstatus 489-char remark

   Show marketing remark (244 chars)

   Nice home with all bedrooms downstairs!!! Home offers a large master bedroom with luxury bath, kitchen with stainless steel appliances, hard wood floors, formal dining room, fireplace, and wood fence. Seller has put in new carpet and new paint.

5. 2011-10-26
   soldstatus 244-char remark

   Show marketing remark (244 chars)

   Nice home with all bedrooms downstairs!!! Home offers a large master bedroom with luxury bath, kitchen with stainless steel appliances, hard wood floors, formal dining room, fireplace, and wood fence. Seller has put in new carpet and new paint.

6. 2011-10-04
   historical 244-char remark

   Show marketing remark (244 chars)

   Nice home with all bedrooms downstairs!!! Home offers a large master bedroom with luxury bath, kitchen with stainless steel appliances, hard wood floors, formal dining room, fireplace, and wood fence. Seller has put in new carpet and new paint.

7. 2011-09-19
   listed $157,900 489-char remark

   Show marketing remark (244 chars)

   Nice home with all bedrooms downstairs!!! Home offers a large master bedroom with luxury bath, kitchen with stainless steel appliances, hard wood floors, formal dining room, fireplace, and wood fence. Seller has put in new carpet and new paint.

8. 2011-09-19
   listed $157,900 244-char remark

   Show marketing remark (244 chars)

   Nice home with all bedrooms downstairs!!! Home offers a large master bedroom with luxury bath, kitchen with stainless steel appliances, hard wood floors, formal dining room, fireplace, and wood fence. Seller has put in new carpet and new paint.

9. 2009-02-22
   historical
10. 2009-01-25
    listed $179,900

ⓘ 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: $2,403 · $200/mo
• Projected year-2 tax: $2,606 · $217/mo
• Expected delta: +$203/yr (+$17/mo · 8.4%)

ⓘ 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 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $31,498
• − Mortgage interest: −$18,480
• − Property taxes: −$2,403
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,520
• − Management: −$2,520
• − Depreciation: −$9,597
• Taxable loss: −$5,671
• Est. tax savings @ 24.0%: +$1,361
• After-tax cash flow: $1,431/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 — Southaven

• Score: 65/100
• State rank: #107
• US rank: #12584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southaven, MS
• County: DeSoto County · 176,513 people
• City population: 53,755
• Metro: Memphis, TN-MS-AR
• Population (ZIP): 16,436
• Household income: $116,184
• Rent vs Own: 11.6% rent · 88.4% own
• Severe rent burden: 44.0

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: Majority White (60%)
• Race & ethnicity: White 60% Black 31% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Subsaharan African 2% Italian 2% Serbian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1% Other Asian/Pacific 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: ▼ -25.90%
• Current HPI: 172.4771
• Rent YoY: —
• Metro: Memphis, TN-MS-AR
• State GDP YoY: —
• F500 in state: 0

Price history

+83.4% since first listed

10 events — show timeline

• 2026-04-14 Pending — MLSU
• 2026-02-24 Price Changed $329,900 MLSU
• 2025-12-05 Listed $335,000 MLSU
• 2011-10-26 Sold (MLS) — Memphis Area Association of Realtors(R) MLS
• 2011-10-26 Sold (MLS) — MLSU
• 2011-10-04 Delisted — Memphis Area Association of Realtors(R) MLS
• 2011-09-19 Listed $157,900 Memphis Area Association of Realtors(R) MLS
• 2011-09-19 Listed $157,900 MLSU
• 2009-02-22 Listing Removed — MLSU
• 2009-01-25 Listed $179,900 MLSU

Property tax history

+2.6%/yr

Latest (2025): $2,403 · +14.1% YoY. Source: county tax records.