340 Eastwood Ave · Ridgeland, MS 39157

$145,000

3 bd · 3.0 ba · 5,267 sqft · SingleFamily public records · 14 Days on market

Built 1970 0.32 ac lot $28/sqft · 75% below area ↓ 12% since listing

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Why this score? — see what drove the C+ 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.8/10.0
• Rent growth +3.9/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seller says MAKE AN OFFER!!! Looking for lots of square footage? Then this is the house for you! This home is 4,400 square feet and offers a unique layout. This is a 1.5 story home with 4 bedrooms and 3 1/2 baths. It has a bonus room, finished attic, mother-in-law suite, sun room, office, storage room, workshop and more! Great colors and paint. Call your realtor today and come check it out!

Key facts

• Small kitchenette
• Large family room
• Generous bonus room

Tags

• LARGE FAMILY ROOM
• COZY FIREPLACE
• BUILT-IN SHELVING
• GENEROUS BONUS ROOM
• SMALL KITCHENETTE
• COVERED SCREENED PORCH

Property features AI

Finance

• Other: Zoned for single-family residential

Exterior

• Parking: Attached garage with room for 2 vehicles; Concrete driveway/parking surfaces; Total 2 parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected; Cable available
• Home design: Single-family house; One-and-a-half stories; Listed as fixer condition; Living area per public records
• Construction: Brick and wood siding construction; Asphalt shingle roof; Slab foundation; Year built per public records
• Exterior features: Slab and stone/tile patio or porch; Back yard privacy wood fencing; Corner lot; Shed(s); Workshop

Interior

• Kitchen: Dishwasher; Gas cooktop; Oven; Microwave; Exhaust fan; Natural gas available in kitchen; Pantry
• Bedrooms: Bedrooms present (see listing for count and layout)
• Flooring: Carpet; Ceramic tile; Laminate; Tile; Wood
• Bathrooms: Three full bathrooms and one half bathroom
• Heating & cooling: Central heating; Natural gas heating; Fireplace heating; Central air conditioning; Ceiling fans
• Interior features: Bookcases; Ceiling fans; Double vanity; Entrance foyer; Pantry; Sound system; Storage; Walk-in closets; Fireplace in great room; Aluminum and wood window frames; Smoke detectors
• Laundry & utility: Electric dryer hookup; Washer/dryer hookups (utility connections available)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.7% vs local median 2.8% in Ridgeland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#57 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Madison County School District (rural): math 54% / reading 54% proficiency, ranked #3 of 130 in MS (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ann Smith Elementary (746 students, 100% FRL); Ridgeland High School (math 27% / reading 35%, grade F, #85 of 197 statewide, top 43%, 968 students, 100% FRL) — zoned schools average 100% FRL vs 29% district-wide (70 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 54% district-wide (-23 pts) — the specific schools serving this property underperform the Madison County School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.7%/yr); 132 active listings in the ZIP; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.18% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.64%
• DSCR: 1.38
• GRM: 7.1

CMA / ARV

• ARV (median comp): $438,624
• List price: $145,000
• Delta: -66.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.65% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-140
• Equity at exit: $21,620

10-year hold

• IRR: 12.2%
• Equity multiple: 2.09×
• Total profit: $44,342
• Equity at exit: $12,537

Cash invested: $40,600 (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 39157

• Home prices YoY: -22.8%
• Rents YoY: 5.7%
• Active inventory: 132
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,707 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$235 /mo · $2,822/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $292

Break-even live

Break-even rent $1,337

Max offer price $145,000

Occupancy floor 78%

Sensitivity live

Price	-10% $375	-5% $333	+0% $292	+5% $251	+10% $210
Rent	-10% $158	-5% $225	+0% $292	+5% $360	+10% $427
Rate	-1.0pp $365	-0.5pp $329	base $292	+0.5pp $255	+1.0pp $217

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-08
   status Pending 815-char remark
2. 2026-04-24
   listed $145,000 Active 815-char remark
3. 2017-08-01
   soldstatus
4. 2017-07-31
   soldstatus 393-char remark

   Show marketing remark (393 chars)

   Seller says MAKE AN OFFER!!! Looking for lots of square footage? Then this is the house for you! This home is 4,400 square feet and offers a unique layout. This is a 1.5 story home with 4 bedrooms and 3 1/2 baths. It has a bonus room, finished attic, mother-in-law suite, sun room, office, storage room, workshop and more! Great colors and paint. Call your realtor today and come check it out!

5. 2017-02-27
   listed $165,000 393-char remark

   Show marketing remark (393 chars)

   Seller says MAKE AN OFFER!!! Looking for lots of square footage? Then this is the house for you! This home is 4,400 square feet and offers a unique layout. This is a 1.5 story home with 4 bedrooms and 3 1/2 baths. It has a bonus room, finished attic, mother-in-law suite, sun room, office, storage room, workshop and more! Great colors and paint. Call your realtor today and come check it out!

6. 1987-05-01
   soldstatus

ⓘ 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: $2,822 · $235/mo
• Projected year-2 tax: $2,822 · $235/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,482
• − Mortgage interest: −$8,122
• − Property taxes: −$2,822
• − Insurance: −$725
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$4,218
• Taxable income: $1,318
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $3,193/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: Madison County School District
• NCES district ID: 2802790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,579
• Composite: 48.08/100
• National rank: #2188
• State rank: #3 of 130 in MS

Livability — Ridgeland

• Score: 68/100
• State rank: #57
• US rank: #9276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridgeland, MS
• County: Madison County · 75,005 people
• City population: 24,562
• Metro: Jackson, MS
• Population (ZIP): 24,562
• Household income: $66,068
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1370.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 122,509 people
• By 2030: 131,737 · +7.5%
• By 2040: 148,930 · +21.6%
• By 2050: 164,300 · +34.1%
• By 2075: 197,495 · +61.2%
• By 2100: 211,429 · +72.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 44% White 43% Hispanic / Latino 7% Two or more races 4% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Serbian 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Madison

• 2024 margin: R (+17.3) · D 40.8% · R 58.0% · Other 1.2%
• 2008→2024 swing: -1.7pp toward R · 2008: -15.6pp · 2024: -17.3pp
• All cycles: 2024: R+17.3 2020: R+11.8 2016: R+16.1 2012: R+15.7 2008: R+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.34%
• Current HPI: 153.1826
• Rent YoY: ▲ 5.65%
• Metro: Jackson, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-12.1% since first listed

7 events — show timeline

• 2026-06-10 Sold (MLS) — MLSU
• 2026-05-08 Pending — MLSU
• 2026-04-24 Listed $145,000 MLSU
• 2017-08-01 Sold (Public Records) — Public Records
• 2017-07-31 Sold (MLS) — MLSU
• 2017-02-27 Listed $165,000 MLSU
• 1987-05-01 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,822 · +0.0% YoY. Source: county tax records.