294 Ridgeway Dr · Parsons, TN 38380

$79,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 286 Days on market

Built 1988 0.64 ac lot $37/mo HOA · 4% of rent ↓ 20% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

Key facts

• Stair-free entry
• Clubhouse
• Community pool

Tags

• SPACIOUS ADDITION
• CAST IRON WOOD-BURNING STOVE
• STAIR-FREE ENTRY
• COMMUNITY POOL
• CLUBHOUSE
• PRIVATE MARINA

Property features AI

Finance

• HOA & community: HOA with annual fee (includes recreation facilities); Community amenities: boat dock, clubhouse, park, playground, pool, trails

Exterior

• Parking: Attached parking; 1 covered space; 1 carport space; 3 open parking spaces (4 total)
• Utilities: Private water; Septic tank; Water available
• Home design: Residential mobile home; One story
• Construction: Vinyl siding; Approximate year built; Crawl space foundation
• Exterior features: Deck; Covered porch; Storage building

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (all on main level) — roughly 11x13, 8x13, and 8x9
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Wood heating; No central cooling
• Interior features: Ceiling fans; Open floor plan; Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (about 9x13)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#288 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Decatur County (rural): math 45% / reading 33% proficiency, ranked #19 of 139 in TN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parsons Elementary (math 52% / reading 47%, grade D, #119 of 952 statewide, top 14%, 376 students, 0% FRL); Riverside High School (math 27% / reading 27%, grade F, #104 of 332 statewide, top 33%, 460 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 10 units permitted in Decatur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($546 loan paydown + $1k appreciation (1.8% local appreciation)).
• Decatur County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.29% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.44%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.07×
• Total profit: $23,692
• Equity at exit: $30,078

10-year hold

• IRR: 22.5%
• Equity multiple: 3.89×
• Total profit: $63,992
• Equity at exit: $42,498

Cash invested: $22,120 (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 38380

• Home prices YoY: 0.7%
• Active inventory: 38
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$33
• HOA: −$37
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $303

Break-even live

Break-even rent $637

Max offer price $79,000

Occupancy floor 65%

Sensitivity live

Price	-10% $348	-5% $325	+0% $303	+5% $281	+10% $258
Rent	-10% $222	-5% $263	+0% $303	+5% $343	+10% $384
Rate	-1.0pp $343	-0.5pp $323	base $303	+0.5pp $283	+1.0pp $262

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $37 · $444/yr
• Likely covers: trashpool

Listing history 8 events

1. 2026-05-21
   status Pending 1183-char remark

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

2. 2026-05-21
   status Pending

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

3. 2026-04-15
   price $79,000 1183-char remark

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

4. 2026-04-15
   price $79,000

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

5. 2025-09-29
   price $84,000 1183-char remark

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

6. 2025-09-29
   price $84,000

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

7. 2025-08-08
   listed $99,000 Active
8. 2025-08-06
   listed $99,000 Active 1183-char remark

   Show marketing remark (1183 chars)

   Discover the potential of this charming fixer-upper located in the highly desirable Ponderosa River Community—just 1.5 hours from Nashville! This 3-bedroom, 1-bath mobile home with a spacious addition sits on a peaceful lot and features a roomy living area, carport with concrete pad, shop in the back, and a beautiful cast iron wood-burning stove. The front entry is stair-free for added accessibility. Whether you're looking for a weekend retreat or full-time residence, this property offers an unbeatable opportunity to invest in a vibrant, amenity-rich community. As a member of The Ponderosa, you'll enjoy exclusive access to 1,500 acres of private ATV and hiking trails, scenic Bass Lake, a community pool, clubhouse, and kitchen, as well as a private marina with boat slips available for rent. There's also convenient boat storage, an on-site garbage center, and even a helipad for emergency services—making this one of the most well-equipped and unique communities on the Tennessee River. Enjoy the serenity of nature, the excitement of adventure, and the warmth of a close-knit river community. Schedule your showing today—this opportunity won't last long!

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

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $233 · $19/mo
• Projected year-2 tax: $561 · $47/mo
• Expected delta: +$328/yr (+$27/mo · 140.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $12,254
• − Mortgage interest: −$4,425
• − Property taxes: −$233
• − Insurance: −$395
• − Repairs & maintenance: −$980
• − Management: −$980
• − HOA: −$444
• − Depreciation: −$2,298
• Taxable income: $2,498
• Est. tax owed @ 24.0%: −$599
• After-tax cash flow: $3,037/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: Decatur County
• NCES district ID: 4700960
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $34,877
• Composite: 32.28/100
• National rank: #5756
• State rank: #19 of 139 in TN

Livability — Parsons

• Score: 59/100
• State rank: #288
• US rank: #20310

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,600
• Population (ZIP): 450

Population outlook (Decatur County) Hauer SSP2

• Today (2025): 11,311 people
• By 2030: 10,995 · -2.8%
• By 2040: 10,268 · -9.2%
• By 2050: 9,512 · -15.9%
• By 2075: 7,988 · -29.4%
• By 2100: 6,639 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Italian 3% Iranian 3% Lithuanian 2%

Political lean MEDSL · Decatur

• 2024 margin: Solid R (+69.1) · D 15.0% · R 84.1%
• 2008→2024 swing: -36.9pp toward R · 2008: -32.2pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+63.4 2016: R+58.7 2012: R+37.0 2008: R+32.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.75%
• Current HPI: 250.0398
• 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

-20.2% since first listed

8 events — show timeline

• 2026-05-21 Pending — CWTAR
• 2026-05-21 Pending — REALTRACS as Distributed by MLS Grid
• 2026-04-15 Price Changed $79,000 CWTAR
• 2026-04-15 Price Changed $79,000 REALTRACS as Distributed by MLS Grid
• 2025-09-29 Price Changed $84,000 CWTAR
• 2025-09-29 Price Changed $84,000 REALTRACS as Distributed by MLS Grid
• 2025-08-08 Listed $99,000 REALTRACS as Distributed by MLS Grid
• 2025-08-06 Listed $99,000 CWTAR

Property tax history

+3.2%/yr

Latest (2025): $233 · -4.1% YoY. Source: county tax records.