689 West Dr #689 · Ridgeland, MS 39157

$124,900

2 bd · 2.0 ba · 1,393 sqft · Townhouse · 104 Days on market

Built 1984 Poor condition 1,306 sqft lot $90/sqft · at area comps Est $127k · at est.

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +8.2/15.0
• 1% rule +6.8/10.0
• Schools +4.8/10.0
• Rent growth +3.9/5.0
• Livability +3.4/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Townhouse-style home in a convenient Ridgeland location, offering low-maintenance living with a classic all-brick exterior and private front entrance. This two-story, attached unit features a functional layout with both living and bedroom spaces separated across levels, plus dedicated parking just steps from the door. Located minutes from shopping, dining, major commuting routes, and the Reservoir area, this property is a great fit for an owner-occupant or investor looking for a solid Ridgeland opportunity. Ideal for buyers seeking an affordable, easy-to-maintain home in a central location.

Key facts

• Central location
• Functional layout
• Dedicated parking

Tags

• CLASSIC ALL BRICK EXTERIOR
• PRIVATE FRONT ENTRANCE
• FUNCTIONAL LAYOUT
• DEDICATED PARKING
• CENTRAL LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $125k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: schools C-, amenities F, commute 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.
• Market conditions: Rents rising fast (+5.7%/yr); 136 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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 $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $113,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.33%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $126,966
• List price: $124,900
• Delta: -1.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Martins Key St	0.37mi	2/2.0	1,410 (+1%)	10mo	$229,900	$163	72
530 Boardwalk Blvd	0.54mi	2/2.5	1,374 (-1%)	10mo	$184,900	$135	62
566 Boardwalk Blvd	0.59mi	2/2.5	1,345 (-3%)	15mo	$195,000	$145	53
512 Boardwalk Blvd	0.58mi	2/2.5	1,331 (-4%)	14mo	$175,000	$131	52
520 Boardwalk Blvd	0.56mi	2/2.5	1,299 (-7%)	19mo	$179,900	$138	45
1255 E County Line Rd Unit C-4	0.56mi	2/1.5	1,225 (-12%)	11mo	$95,000	$78	42
1255 E County Line Rd Unit K4	0.56mi	3/2.5 (+1)	1,474 (+6%)	18mo	$130,000	$88	42
570 Boardwalk Blvd	0.59mi	3/2.5 (+1)	1,556 (+12%)	7mo	$204,900	$132	40
1255 E County Line Rd Unit L-3	0.56mi	3/2.5 (+1)	1,474 (+6%)	22mo	$115,000	$78	39
417 Friday Harbour	0.55mi	3/2.0 (+1)	1,570 (+13%)	15mo	$229,000	$146	36

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 · 5.65% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $2,981
• Equity at exit: $18,623

10-year hold

• IRR: 14.2%
• Equity multiple: 2.28×
• Total profit: $44,838
• Equity at exit: $10,799

Cash invested: $34,972 (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: 136
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $301

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 75%

Sensitivity live

Price	-10% $387	-5% $344	+0% $301	+5% $258	+10% $215
Rent	-10% $185	-5% $243	+0% $301	+5% $359	+10% $417
Rate	-1.0pp $364	-0.5pp $333	base $301	+0.5pp $269	+1.0pp $236

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 Arbor Dr Ridgeland, MS	1.0–2.0	1.0–2.0	850	$1,374	$1.62	15d	26	0.32mi
225 Walnut Ridge St Ridgeland, MS	3.0	2.0	1500	$1,850	$1.23	15d	1	0.44mi
331 Peach Orchard Dr Ridgeland, MS	2.0	2.0	1300	$1,700	$1.31	44d	1	0.56mi
1523 E County Line Rd Jackson, MS	2.0	2.0	989	$1,235	$1.25	44d	1	0.60mi
499 S Pear Orchard Rd Ridgeland, MS	2.0	2.0	925	$1,300	$1.41	44d	1	0.75mi
580 S Pear Orchard Rd Ridgeland, MS	1.0–3.0	1.0–2.0	950	$1,502	$1.58	15d	15	0.76mi
1620 E County Line Rd Ridgeland, MS	1.0–3.0	1.0–2.5	1126	$1,345	$1.19	15d	7	0.84mi
601 Northpointe Pkwy Jackson, MS	1.0–2.0	1.0–2.0	910	$1,054	$1.16	15d	2	0.87mi
1702 Jamestown Way Unit 1702 Jackson, MS	3.0	2.0	1465	$1,495	$1.02	44d	1	0.89mi
3001 Jamestown Way Jackson, MS	2.0	1.5	1200	$1,100	$0.92	24d	1	0.89mi
320 Southridge Dr Ridgeland, MS	3.0	2.0	1467	$1,856	$1.27	44d	1	0.97mi
205 Pecan Park Dr Ridgeland, MS	3.0	2.0	1066	$1,850	$1.74	44d	1	1.11mi
711 Lake Harbour Dr Ridgeland, MS	2.0	2.0	1100	$1,354	$1.23	15d	1	1.12mi
6675 Old Canton Rd Ridgeland, MS	2.0	2.0	905	$1,199	$1.32	22d	1	1.37mi
6811 Old Canton Rd Ridgeland, MS	2.0	2.0	1365	$1,495	$1.10	44d	1	1.39mi

Listing history 3 events

1. 2026-02-11
   listed $124,900 Active 597-char remark

   Show marketing remark (597 chars)

   Townhouse-style home in a convenient Ridgeland location, offering low-maintenance living with a classic all-brick exterior and private front entrance. This two-story, attached unit features a functional layout with both living and bedroom spaces separated across levels, plus dedicated parking just steps from the door. Located minutes from shopping, dining, major commuting routes, and the Reservoir area, this property is a great fit for an owner-occupant or investor looking for a solid Ridgeland opportunity. Ideal for buyers seeking an affordable, easy-to-maintain home in a central location.

2. 2019-09-10
   soldstatus 213-char remark

   Show marketing remark (213 chars)

   Very affordable townhouse. New Carpet, Fresh paint. All brick. Close to shopping, churches, great schools, low taxes in Ridgeland, Both bedrooms up. One full bath is up and one down. Fridge, washer dryer included.

3. 2019-05-08
   listed $69,900 213-char remark

   Show marketing remark (213 chars)

   Very affordable townhouse. New Carpet, Fresh paint. All brick. Close to shopping, churches, great schools, low taxes in Ridgeland, Both bedrooms up. One full bath is up and one down. Fridge, washer dryer included.

ⓘ 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 (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: $17,682
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$3,633
• Taxable income: $1,725
• Est. tax owed @ 24.0%: −$414
• After-tax cash flow: $3,197/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 · 1 photo

Poor 20/100 Extensive rehab

This townhouse requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to improve its physical condition and increase its resale and rental value.

Repairs flagged

• Major exterior brick — Severe weathering and staining
• Major roof — No visible damage, but age is unknown
• Major interior walls/paint — No visible interior, but age is unknown
• Major windows — No visible windows, but age is unknown
• Major foundation/structure — No visible foundation, but age is unknown
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but age is unknown
• Major landscaping — No visible landscaping, but age is unknown

Value-add opportunities

• Both exterior paint and brick cleaning — Enhances curb appeal and value
• Both new roof — Improves structural integrity and value
• Both interior painting and repairs — Enhances interior condition and value
• Both new windows — Improves energy efficiency and value
• Both HVAC system replacement — Improves comfort and value
• Both landscaping and curb appeal improvements — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior brick · Severe weathering and staining	Major	$15,000–50,000
roof · No visible damage, but age is unknown	Major	$15,000–50,000
interior walls/paint · No visible interior, but age is unknown	Major	$15,000–50,000
windows · No visible windows, but age is unknown	Major	$15,000–50,000
foundation/structure · No visible foundation, but age is unknown	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but age is unknown	Major	$15,000–50,000
landscaping · No visible landscaping, but age is unknown	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both exterior paint and brick cleaning — Enhances curb appeal and value ↑
• Both new roof — Improves structural integrity and value ↑
• Both interior painting and repairs — Enhances interior condition and value ↑
• Both new windows — Improves energy efficiency and value ↑
• Both HVAC system replacement — Improves comfort and value ↑
• Both landscaping and curb appeal improvements — Enhances curb appeal and value ↑

ⓘ 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: 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

+78.7% since first listed

3 events — show timeline

• 2026-02-11 Listed $124,900 MLSU
• 2019-09-10 Sold (MLS) — MLSU
• 2019-05-08 Listed $69,900 MLSU