500 Hardison St · Ridgely, TN 38080

$94,900

2 bd · 2.5 ba · 1,137 sqft · SingleFamily · 14 Days on market

Built 1955 Fair condition 9,583 sqft lot Est $121k · 21% under

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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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Appreciation +3.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.0/10.0

Key facts

• 9,583 sq ft lot
• Parking
• Built 1955

Property features AI

Exterior

• Parking: 1 parking space total; 1 covered carport space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level / 1 story; Entry level on main floor
• Construction: Vinyl siding; Block and slab foundation; Metal roof; Built as single-story construction
• Exterior features: Level lot; Asphalt road access; Publicly maintained city street frontage; Metal roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Natural gas heating; Additional heating details noted in remarks; Wall and window cooling units
• Interior features: Dishwasher; Electric range; Microwave; Laminate flooring; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $95k).

Location & tenants

• Location reads 60/100 on livability (#272 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, schools F, amenities F.
• Lake County (rural): math 11% / reading 14% proficiency, ranked #135 of 139 in TN (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 21 active listings in the ZIP; 3 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $120,522
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
529 Church St	0.05mi	3/2.0 (+1)	1,226 (+8%)	2mo	$119,900	$98	76
217 North St	0.18mi	3/1.0 (+1)	1,060 (-7%)	1mo	$104,900	$99	69
423 N College St	0.17mi	2/1.0	1,196 (+5%)	21mo	$136,000	$114	60
224 Kimberly Cv	0.31mi	3/2.0 (+1)	1,296 (+14%)	13mo	$137,000	$106	44
122 Sand St	0.53mi	3/2.0 (+1)	1,274 (+12%)	7mo	$100,000	$78	42
305 Monk Argo Rd	0.62mi	3/2.0 (+1)	1,280 (+13%)	4mo	$190,000	$148	40
435 Monk Argo Rd	0.74mi	2/1.0	1,040 (-8%)	9mo	$127,500	$123	38

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-7,786
• Equity at exit: $14,150

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $3,037
• Equity at exit: $8,205

Cash invested: $26,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 38080

• Home prices YoY: -1.7%
• Active inventory: 21
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,424/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $119

Break-even live

Break-even rent $830

Max offer price $94,900

Occupancy floor 83%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $94,900 Active 14 DOM
2. 2026-06-17
   days on market $94,900 Active 13 DOM
3. 2026-06-16
   days on market $94,900 Active 12 DOM
4. 2026-06-15
   days on market $94,900 Active 11 DOM
5. 2026-06-13
   days on market $94,900 Active 9 DOM
6. 2026-06-12
   days on market $94,900 Active 8 DOM
7. 2026-06-09
   days on market $94,900 Active 5 DOM
8. 2026-06-08
   days on market $94,900 Active 4 DOM
9. 2026-06-08
   days on market $94,900 Active 3 DOM
10. 2026-06-05
    listed $94,900 Active 1 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,769
• − Mortgage interest: −$5,316
• − Property taxes: −$1,424
• − Insurance: −$474
• − Repairs & maintenance: −$942
• − Management: −$942
• − Depreciation: −$2,761
• Taxable loss: −$89
• Est. tax savings @ 24.0%: +$21
• After-tax cash flow: $1,449/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 · 2 photos

Fair 45/100 Moderate rehab

This single-family home requires significant exterior repairs and maintenance, including painting, landscaping, and HVAC upgrades. While it has potential, the current condition is holding it back from achieving its full value.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — Aged appearance
• Major HVAC/mechanicals — No visible units, likely outdated
• Major landscaping — Sparse and unkempt

Value-add opportunities

• Both paint exterior — Fresh paint can significantly improve curb appeal and value
• Both landscaping — A well-maintained yard can increase both resale and rental value
• Both HVAC upgrade — Modern HVAC can improve comfort and energy efficiency, boosting both resale and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · Aged appearance	Major	$15,000–50,000
HVAC/mechanicals · No visible units, likely outdated	Major	$15,000–50,000
landscaping · Sparse and unkempt	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior — Fresh paint can significantly improve curb appeal and value ↑
• Both landscaping — A well-maintained yard can increase both resale and rental value ↑
• Both HVAC upgrade — Modern HVAC can improve comfort and energy efficiency, boosting both resale and rental appeal ↑

ⓘ 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: Lake County
• NCES district ID: 4702280
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 14% ▼ -9.00%
• Median HH income: $29,058
• Composite: 9.69/100
• National rank: #9833
• State rank: #135 of 139 in TN

Livability — Ridgely

• Score: 60/100
• State rank: #272
• US rank: #19162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridgely, TN
• Population (ZIP): 2,492

Population outlook (Lake County) Hauer SSP2

• Today (2025): 7,234 people
• By 2030: 7,045 · -2.6%
• By 2040: 6,848 · -5.3%
• By 2050: 6,681 · -7.6%
• By 2075: 5,629 · -22.2%
• By 2100: 4,211 · -41.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 11% Hispanic / Latino 5%
• Common ancestry: Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Lake

• 2024 margin: Solid R (+54.9) · D 22.1% · R 77.0%
• 2008→2024 swing: -48.1pp toward R · 2008: -6.7pp · 2024: -54.9pp
• All cycles: 2024: R+54.9 2020: R+47.5 2016: R+39.6 2012: R+13.4 2008: R+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.11%
• Current HPI: 178.0147
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-04 Listed $94,900 CWTAR
• 2026-06-04 Listed $94,900 RRAR as distributed by MLS GRID