217 North St · Ridgely, TN 38080

$104,900

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 49 Days on market

Built 1995 0.32 ac lot Est $121k · 13% 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 +19.5/30.0
• ARV discount +13.4/15.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• Appreciation +3.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Charming 3 BR, 1 Bth home in a great location. Minutes from Reelfoot Lake. Great home for the first time homebuyer or retirement home. Split floor plan, privacy fenced backyard, metal roof, oak kitchen cabinets, eat-in kitchen, seperate utility room, walk in shower in bath. Plenty of closet space. Priced to sell. Call Karen at Carousel Realty for your private showing. Charming 3 BR, 1 bath home in a great location. Minutes from Reelfoot Lake. Wonderful home for the first time homebuyer or a retirement home. Split floor plan, metal roof CH/A, privacy fenced in backyard, walk in shower oak kitchen cabinets. A must see and priced to sell!

Key facts

• Oak kitchen cabinets
• Metal roof
• Eat-in kitchen

Tags

• PRIVACY FENCED BACKYARD
• METAL ROOF
• OAK KITCHEN CABINETS
• EAT-IN KITCHEN
• SEPARATE UTILITY ROOM
• WALK IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (7.2% below list).
• Recommended offer: $97k (7.2% below list) — sets the bar for 1% rule.

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-, amenities F, commute 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.
• Zoned schools: Margaret Newton Elementary (210 students, 0% FRL); Lara Kendall Elementary (math 12% / reading 12%, grade F, #242 of 333 statewide, top 74%, 340 students, 0% FRL); Lake Co High School (math 5% / reading 24%, grade F, #237 of 332 statewide, top 75%, 199 students, 0% FRL) — zoned schools average 0% FRL vs 71% district-wide (71 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 22 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 $725 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

• It's been on market 49 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $105k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $97,329 (7.2% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.89%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $120,840
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 North St	0.00mi	3/1.0	1,060 (0%)	1mo	$104,900	$99	99
423 N College St	0.26mi	2/1.0 (-1)	1,196 (+13%)	21mo	$136,000	$114	44

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-9,414
• Equity at exit: $15,641

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,481
• Equity at exit: $9,070

Cash invested: $29,372 (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: 22
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $973 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$56 /mo · $666/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $120

Break-even live

Break-even rent $822

Max offer price $104,900

Occupancy floor 83%

Sensitivity live

Price	-10% $179	-5% $149	+0% $120	+5% $90	+10% $60
Rent	-10% $43	-5% $81	+0% $120	+5% $158	+10% $196
Rate	-1.0pp $172	-0.5pp $146	base $120	+0.5pp $92	+1.0pp $65

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-28
   status Pending
2. 2026-03-10
   price $104,900
3. 2026-02-07
   listed $109,900 Active
4. 2006-01-24
   soldstatus $35,000
5. 2005-07-22
   soldstatus $19,000
6. 1990-09-20
   soldstatus $16,000

ⓘ 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: $666 · $56/mo
• Projected year-2 tax: $745 · $62/mo
• Expected delta: +$79/yr (+$7/mo · 11.8%)

ⓘ 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 · 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: $11,679
• − Mortgage interest: −$5,876
• − Property taxes: −$666
• − Insurance: −$524
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$3,052
• Taxable loss: −$307
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $1,509/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: 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

+555.6% since first listed

6 events — show timeline

• 2026-03-28 Pending — CWTAR
• 2026-03-10 Price Changed $104,900 CWTAR
• 2026-02-07 Listed $109,900 CWTAR
• 2006-01-24 Sold (Public Records) $35,000 Public Records
• 2005-07-22 Sold (Public Records) $19,000 Public Records
• 1990-09-20 Sold (Public Records) $16,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $666 · +0.0% YoY. Source: county tax records.