3027 Luna Way · Southaven, MS 38672

$298,500

3 bd · 2.0 ba · 1,207 sqft · SingleFamily · 205 Days on market

55+ age-restricted Excellent condition 3,484 sqft lot Garage

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Why this score? — see what drove the D- 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 +10.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +5.0/5.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• 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 your needs. Step inside this beauty with a long hall leading to the oversize great room, also notice the large master bedroom. There are 2 additional bedrooms for your office and a guestroom. The eat-in-kitchen has lots of cabinets with lot of counters space and a nice breakfast area. Enjoy your private patio & the covered breezeway connecting the 2-car garage. Come out and tour these NEW HOMES, today.

Key facts

• 3,484 sq ft lot
• 2 garage spots
• Listed 204 days

🏗️ New construction. The $298,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $348,283.

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 $-623 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (24.4% below list).
• Recommended offer: $226k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 5.2% in Southaven — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 294 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 205 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $225,782 (24.4% 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 205 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: 0.65% ✗
• Cap rate: 4.15%
• Cash-on-cash: -7.67%
• DSCR: 0.66
• GRM: 12.9

CMA / ARV

• ARV (median comp): $348,283
• List price: $298,500
• Delta: -14.29%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3247 Parkdale Cv	1.75mi	3/2.0	1,208 (+0%)	4mo	$258,500	$214	62
3234 Jade Ln	1.70mi	2/2.0 (-1)	1,185 (-2%)	0mo	$245,000	$207	57
3318 Jade Ln	1.73mi	2/2.0 (-1)	1,208 (+0%)	5mo	$245,000	$203	56
3218 Wellbrook Ln	1.62mi	2/2.0 (-1)	1,210 (+0%)	6mo	$245,000	$202	54
3245 Jade Ln	1.68mi	2/2.0 (-1)	1,185 (-2%)	13mo	$237,000	$200	46
1335 S Point Cv	1.38mi	3/2.0	1,347 (+12%)	2mo	$259,900	$193	44
3241 Jade Ln	1.68mi	2/2.0 (-1)	1,208 (+0%)	19mo	$242,000	$200	44
3167 Jade Ln	1.65mi	2/2.0 (-1)	1,255 (+4%)	16mo	$239,000	$190	40
2224 Itasca Dr	2.01mi	3/2.0	1,549 (+28%)	4mo	$230,000	$148	36
2774 Itasca Dr	1.73mi	3/2.0	1,453 (+20%)	8mo	$265,000	$182	33
2380 Geneva Dr	1.49mi	2/2.0 (-1)	1,450 (+20%)	6mo	$279,900	$193	30
2781 Hickory Hill Dr	1.99mi	3/2.0	1,506 (+25%)	14mo	$275,000	$183	28

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: -29.7%
• Equity multiple: 0.01×
• Total profit: $-96,097
• Equity at exit: $51,930

10-year hold

• IRR: -30.6%
• Equity multiple: -0.38×
• Total profit: $-134,653
• Equity at exit: $30,113

Cash invested: $97,519 (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 →

Active competition Active MLS

• For sale now: 3 active
• Median asking: $295,500 ($249/sqft)
• Median days on market: 204 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +15.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 38672

• Home prices YoY: -13.1%
• Active inventory: 294
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,258 medium
• Mortgage (P&I): −$1,826
• Tax est. 1.5%: −$435 /mo · $5,224/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-623

Break-even live

Break-even rent $3,047

Max offer price $258,101

Occupancy floor —

Sensitivity live

Price	-10% $-383	-5% $-503	+0% $-623	+5% $-744	+10% $-864
Rent	-10% $-802	-5% $-712	+0% $-623	+5% $-534	+10% $-445
Rate	-1.0pp $-448	-0.5pp $-535	base $-623	+0.5pp $-713	+1.0pp $-805

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: $87,071
• Closing costs: $10,449
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Lot size approximately 0.08 acres
• HOA & community: Association with grounds maintenance includedCommunity clubhouseSidewalks

Exterior

• Parking: Attached enclosed garage with garage door opener (2 spaces)Concrete driveway
• Security: Firewall(s)Security lightsSmoke detector(s)
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connected
• Home design: Single-family houseOne storyNew constructionLiving area per builder
• Construction: HardiPlank-type exteriorSlab foundationArchitectural shingle roofBuilt as new construction
• Exterior features: PatioRain guttersWood fencingCity lotLevel yardLot dimensions approximately 30 x 120

Interior

• Kitchen: DisposalFree-standing electric range
• Bedrooms: Three main-level bedroomsOne great room on the main level
• Flooring: Luxury vinylCarpetTile
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas)Central air conditioning (electric)Ceiling fan(s)
• Interior features: Eat-in kitchenHigh ceilingsInsulated windowsInsulated doorsSmoke detector(s)
• Laundry & utility: Laundry located in the kitchen on the main level

Listing history 50 events

1. 2026-11-08
   days on market $298,500 Active 205 DOM
2. 2026-11-07
   days on market $298,500 Active 204 DOM
3. 2026-11-06
   days on market $298,500 Active 203 DOM
4. 2026-11-05
   days on market $298,500 Active 202 DOM
5. 2026-11-04
   days on market $298,500 Active 201 DOM
6. 2026-11-02
   days on market $298,500 Active 199 DOM
7. 2026-11-01
   days on market $298,500 Active 198 DOM
8. 2026-10-31
   days on market $298,500 Active 197 DOM
9. 2026-10-30
   days on market $298,500 Active 196 DOM
10. 2026-10-29
    days on market $298,500 Active 195 DOM
11. 2026-10-28
    days on market $298,500 Active 194 DOM
12. 2026-10-27
    days on market $298,500 Active 193 DOM
13. 2026-10-26
    days on market $298,500 Active 192 DOM
14. 2026-10-26
    days on market $298,500 Active 191 DOM
15. 2026-10-24
    days on market $298,500 Active 190 DOM
16. 2026-10-23
    days on market $298,500 Active 189 DOM
17. 2026-10-22
    days on market $298,500 Active 188 DOM
18. 2026-10-21
    days on market $298,500 Active 187 DOM
19. 2026-10-20
    days on market $298,500 Active 186 DOM
20. 2026-10-19
    days on market $298,500 Active 185 DOM
21. 2026-10-18
    days on market $298,500 Active 184 DOM
22. 2026-10-17
    days on market $298,500 Active 183 DOM
23. 2026-10-16
    days on market $298,500 Active 182 DOM
24. 2026-10-15
    days on market $298,500 Active 181 DOM
25. 2026-10-14
    days on market $298,500 Active 180 DOM
26. 2026-10-13
    days on market $298,500 Active 179 DOM
27. 2026-10-12
    days on market $298,500 Active 178 DOM
28. 2026-10-11
    days on market $298,500 Active 177 DOM
29. 2026-10-10
    days on market $298,500 Active 176 DOM
30. 2026-10-09
    days on market $298,500 Active 175 DOM
31. 2026-10-08
    days on market $298,500 Active 174 DOM
32. 2026-10-07
    days on market $298,500 Active 173 DOM
33. 2026-10-06
    days on market $298,500 Active 172 DOM
34. 2026-10-05
    days on market $298,500 Active 171 DOM
35. 2026-10-04
    days on market $298,500 Active 170 DOM
36. 2026-10-04
    days on market $298,500 Active 169 DOM
37. 2026-10-02
    days on market $298,500 Active 168 DOM
38. 2026-10-01
    days on market $298,500 Active 167 DOM
39. 2026-09-30
    days on market $298,500 Active 166 DOM
40. 2026-09-29
    days on market $298,500 Active 165 DOM
41. 2026-09-28
    days on market $298,500 Active 164 DOM
42. 2026-09-27
    days on market $298,500 Active 163 DOM
43. 2026-09-25
    days on market $298,500 Active 161 DOM
44. 2026-09-24
    days on market $298,500 Active 160 DOM
45. 2026-09-23
    days on market $298,500 Active 159 DOM
46. 2026-09-22
    days on market $298,500 Active 158 DOM
47. 2026-09-21
    days on market $298,500 Active 157 DOM
48. 2026-09-20
    days on market $298,500 Active 156 DOM
49. 2026-09-19
    days on market $298,500 Active 155 DOM
50. 2026-09-18
    days on market $298,500 Active 154 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 72% 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: $27,094
• − Mortgage interest: −$19,509
• − Property taxes: −$5,224
• − Insurance: −$1,741
• − Repairs & maintenance: −$2,168
• − Management: −$2,168
• − Depreciation: −$10,132
• Taxable loss: −$13,848
• Est. tax savings @ 24.0%: +$3,324
• After-tax cash flow: $-4,155/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 · 4 photos

Excellent 100/100 None rehab

This new construction home is in excellent condition with no repairs or maintenance needed. It offers a great opportunity for investors looking to move in or rent out the property.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Interior finishing touches — Completes the home's interior and can make it more marketable for both resale and rental. ↑
• Both Kitchen and bathroom updates — Modernizes the spaces and can increase the home's value for both buyers and renters. ↑

F Composite school gradezoned avg 50/100

Zoned Schools

Elementary Desoto Central Primary Middle Desoto Central Middle School B- MS #15/179 Nat'l #2,482/14,009 High Desoto Central High School F MS #40/197 Nat'l #7,320/17,239

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

C Composite livability gradescore 65/100

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 · 203,338 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

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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%

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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%
• Languages at home: 96% English-only · Spanish 2% Chinese 1% Other Asian/Pacific 1%

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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

Property features AI

Finance

• Other: Lot size approximately 0.08 acres
• HOA & community: Association with grounds maintenance includedCommunity clubhouseSidewalks

Exterior

• Parking: Attached enclosed garage with garage door opener (2 spaces)Concrete driveway
• Security: Firewall(s)Security lightsSmoke detector(s)
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connected
• Home design: Single-family houseOne storyNew constructionLiving area per builder
• Construction: HardiPlank-type exteriorSlab foundationArchitectural shingle roofBuilt as new construction
• Exterior features: PatioRain guttersWood fencingCity lotLevel yardLot dimensions approximately 30 x 120

Interior

• Kitchen: DisposalFree-standing electric range
• Bedrooms: Three main-level bedroomsOne great room on the main level
• Flooring: Luxury vinylCarpetTile
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas)Central air conditioning (electric)Ceiling fan(s)
• Interior features: Eat-in kitchenHigh ceilingsInsulated windowsInsulated doorsSmoke detector(s)
• Laundry & utility: Laundry located in the kitchen on the main level

Price history

1 event — show timeline

• 2026-04-17 Listed $298,500 MLSU