This is our 2024 Tour. If you're looking for ACTIVE LISTING in Lost Rabbit, click here!
If you’re looking for a beautiful lake front neighborhood in Central MS, where you can fish, waterski, and have access to your own marina to enjoy the surrounding beauty, you must watch today’s video on Lost Rabbit. Be sure and stay tuned to the end of the video below, we will tour one of the new construction homes that is currently on the market.
What's the Deal with that Name?
What is Lost Rabbit you might be thinking? What a strange name? Well, legend has it that back in the 1960’s, which was around the same time the Pearl River Reservoir was made, a group of teenagers shot a rabbit and left it to come back later to get it and cook it, but when they returned, the rabbit was gone. So, for the next 40’s years, the name LOST RABBIT stuck, and in the early 2000’s when the Pearl River Valley Authority decided to develop the land, they let the name stay, since it already had the name recognition. The official name of the neighborhood is The Town of Lost Rabbit. When development plans began around 2003, there were plans called for a marina and yacht club, 3 small but unique neighborhoods, and a town center. But, when the economic crisis of 2008 happened, the developer pulled out and for several years, development stalled until around 2015 when a new developer came in and started building and it hasn’t slowed down since. The master plan for Lost Rabbit calls for around 700 homes, but today there are only about 250. One of the unique characteristics of Lost Rabbit is the architecture of the homes. Driving into Lost Rabbit’s tree lined streets thru the Historic Natchez Trace, sets the tone for a showplace along the main blvd, featuring beautiful 2 story homes with a tree lined walking path down the avenue leading to the 33,000 acre lake known by locals as the Rez.
Do I need Flood Insurance?
Many people ask about flood insurance, well that’s not necessary here. The Pearl River Valley Authority that manages this man-made reservoir is flood controlled by a dam with a gate, so it won’t flood. The Reservoir was built in the early 1960’s to help supply water to the City of Jackson and control flooding down the Pearl River. The reservoir extends to Rankin County on one side and Madison County on the other side and is connected by a spillway, which is where the flooding is controlled.
What's there to do?
There are lots of recreational activities that are available on The Rez. Over the years it’s became very popular for outdoor enthusiasts. There are many campsites available, lots of walking/biking paved trails, champion fishing, boating, tubing, and water skiing. There are lots of annual events around the Rez, especially in the summertime like the summer concert series.
What's Happening Lately?
So, let’s get to the point of this BLOG…the 2024 update! There’s been a lot of substantial growth in just the last 12 months. That includes the building of a new mixed used building that has a General Store on the main floor, and a craft/cocktail bar that is opening May of 2024. There are also condos built above the store, there are still 3 units that are all 2 bedroom/ 2 bath units ranging in price from $568k-$575k. There is also a new phase that will have 37 homes, known as Phase 4. As of today, there are 7 new construction homes on the market ranging in price from $620k to $699k most are 4 bedroom/3 bath ranging in size from 2,500-2,900 sq feet. Later this summer/fall there will be more homes becoming available that are just starting construction. So, if you aren’t quite ready to make the move, check back later this summer. The homes that are currently active are zero lot lines, so if you’re looking for very low yard maintenance, this could be a great fit. Conversely, if you’re looking for a big yard with lots of space between you and your neighbors, this is definitely not for you. But, Lost Rabbit has lots of green space and parks, so there is room to roam around, just maybe not in your own backyard. Most homes for sale in Madison, MS have about a quarter acre to half acre lot, so Lost Rabbit homes are definitely on a smaller lot, but boy oh boy do the views make up for it!
Next let’s talk about schools. Lost Rabbit is located in the Madison Avenue Elementary school zone (which is only about 3 miles away) and Madison Middle and Madison Central High School. There is also Madison Ridgeland Academy and St. Anthony and St. Joe Catholic Schools nearby if you’re looking for other school options.
What about fees?
Lost Rabbit is on Pearl River Leasehold land, so there's a fee for that ranging from $900-
$1,800 per year. But, since Lost Rabbit is located just outside of the city limits of Madison, the property taxes are lower than the city rate. Currently in 2024, the HOA fee is $1,375 annually.
Here's a link to all active Lost Rabbit listings, check it out.
If you’re thinking of moving to Mississippi, be sure and check out our website www.taylorgroupms.com, it has all MLS listings in Central MS and is updated every 10 minutes. Whether you're buying or selling, our team is here to help every step of the way. Contact us today to get started.
Taylor Realty Group
601-613-9100
