3015 Luna Way · Southaven, MS 38672

$298,500

3 bd · 2.0 ba · 1,207 sqft · SingleFamily · 64 Days on market

Built 2026 Excellent condition 3,484 sqft lot

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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).

• ARV discount +7.5/15.0
• Cash flow +6.4/30.0
• Condition / age +5.0/5.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this Beautiful New Community in Southaven, a desirable 55+ Community that is conveniently located for all of your needs. Step inside this lovely New Home and you will see a large great room. Also, featuring the eat in kitchen with custom cabinets. The master bath has a walk -in shower. Don't miss the large patio. This one is a must see. Call for showing, today!

Key facts

• 3,484 sq ft lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• HOA & community: Has association; association fees include grounds maintenance

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Smoke detectors; Firewalls
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-family house; One story; New construction
• Construction: Brick and HardiPlank-type siding; Architectural shingle roof; Slab foundation; Built by the builder (new construction)
• Exterior features: Rain gutters; Wood fencing; City lot; Landscaped; Level yard; Lot dimensions approximately 30 x 120

Interior

• Kitchen: Dishwasher; Disposal; Free‑standing electric oven
• Bedrooms: Three bedrooms on the first floor; Plus a first-floor great room
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air; Ceiling fan cooling
• Interior features: Ceiling fans; Eat-in kitchen; High ceilings; Insulated windows; Insulated doors

🏗️ New construction. The $298,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $346,425.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $298k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-595 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (23.7% below list).
• Recommended offer: $228k (23.7% below list) — sets the bar for 1% rule.

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; 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 64 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,701 (23.7% 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. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.66% ✗
• Cap rate: 4.23%
• Cash-on-cash: -7.36%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (median comp): $346,425
• List price: $298,500
• Delta: -13.83%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -29.1%
• Equity multiple: 0.03×
• Total profit: $-94,011
• Equity at exit: $51,653

10-year hold

• IRR: -29.3%
• Equity multiple: -0.35×
• Total profit: $-130,539
• Equity at exit: $29,952

Cash invested: $96,999 (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: 10.9×

Monthly cashflow live

• Estimated rent: $2,277 medium
• Mortgage (P&I): −$1,817
• Tax est. 1.5%: −$433 /mo · $5,196/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-595

Break-even live

Break-even rent $3,030

Max offer price $260,295

Occupancy floor —

Sensitivity live

Price	-10% $-356	-5% $-476	+0% $-595	+5% $-715	+10% $-835
Rent	-10% $-775	-5% $-685	+0% $-595	+5% $-505	+10% $-415
Rate	-1.0pp $-421	-0.5pp $-507	base $-595	+0.5pp $-685	+1.0pp $-776

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: $86,606
• Closing costs: $10,393
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $298,500 Active 64 DOM
2. 2026-06-18
   days on market $298,500 Active 61 DOM
3. 2026-06-17
   days on market $298,500 Active 60 DOM
4. 2026-06-16
   days on market $298,500 Active 59 DOM
5. 2026-06-15
   days on market $298,500 Active 58 DOM
6. 2026-06-13
   days on market $298,500 Active 56 DOM
7. 2026-06-10
   days on market $298,500 Active 53 DOM
8. 2026-06-09
   days on market $298,500 Active 52 DOM
9. 2026-06-08
   days on market $298,500 Active 51 DOM
10. 2026-06-07
    days on market $298,500 Active 50 DOM
11. 2026-06-03
    days on market $298,500 Active 46 DOM
12. 2026-06-02
    days on market $298,500 Active 45 DOM
13. 2026-06-01
    days on market $298,500 Active 44 DOM
14. 2026-05-31
    days on market $298,500 Active 43 DOM
15. 2026-04-17
    listed $298,500 Active 374-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $27,324
• − Mortgage interest: −$19,405
• − Property taxes: −$5,196
• − Insurance: −$1,732
• − Repairs & maintenance: −$2,186
• − Management: −$2,186
• − Depreciation: −$10,078
• Taxable loss: −$13,459
• Est. tax savings @ 24.0%: +$3,230
• After-tax cash flow: $-3,912/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.

Condition & rehab AI · 11 photos

Excellent 100/100 None rehab

This new construction home in a desirable 55+ community is move-in ready with excellent condition and high potential for value appreciation.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Custom window treatments — Improves aesthetics and energy efficiency
• Both Smart home integration — Enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Custom window treatments — Improves aesthetics and energy efficiency ↑
• Both Smart home integration — Enhances convenience and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-04-17 Listed $298,500 MLSU