7153 Copper Ridge Dr

Ridgeland, MS 39157

$187,900C

3 bd · 4.0 ba · 1,350 sqft · Built 1985 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,759/mo
• Mortgage (P&I): −$985
• Tax + insurance: −$148
• HOA: −$30
• Vac / Maint / Mgmt: −$369
• Net cashflow: $227/mo
• Annual: $2,719/yr
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• 1% rule: 0.94%
• Cash to close: $52,612

Investor read

• This is a 3-bed/4.0-bath single-family listed at $188k.
• At list price, monthly cash flow is $227 ($3k/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 $176k (6.4% below list).
• It's been on market 45 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $176k (6.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 553 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• Madison County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $32k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.7% 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.
• This rent runs 32% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.