507 North St · Ridgely, TN 38080

$129,900

3 bd · 1.0 ba · 1,920 sqft · SingleFamily public records · 93 Days on market

Built 1940 9,147 sqft lot $68/sqft · 17% below area Est $156k · 17% 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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +3.8/10.0
• 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 MLS

Very charming and cozy 2 bed, 2 bath home on a corner lot. The house is in a quiet neighborhood close to schools and only a 10 minute drive to Reelfoot Lake! It has a large foyer, office space and laundry room and the kitchen opens up to a beautiful formal dining room. There's lots to see so don't let this one get away. Call today to set up a tour.

Key facts

• 9,147 sq ft lot
• 2 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $110 ($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 $114k (12.0% below list).
• Recommended offer: $114k (12.0% 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-, 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 $898 of loan paydown is wiped out by about $4k 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 93 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,306 (12.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 9.5

CMA / ARV

• ARV (median comp): $156,145
• List price: $129,900
• Delta: -16.81%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 King St	0.19mi	3/1.0	1,702 (-11%)	10mo	$160,000	$94	64
662 Hardison St	0.18mi	3/2.0	2,064 (+8%)	16mo	$200,000	$97	62
617 King st St	0.21mi	4/2.0 (+1)	2,173 (+13%)	2mo	$129,900	$60	58
533 King St	0.17mi	4/2.5 (+1)	1,694 (-12%)	17mo	$119,999	$71	47
215 Jamie Ln	0.37mi	2/2.0 (-1)	1,670 (-13%)	6mo	$240,000	$144	46
711 S Main St	0.73mi	3/2.0	1,663 (-13%)	20mo	$185,000	$111	23

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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-14,079
• Equity at exit: $19,369

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-3,415
• Equity at exit: $11,231

Cash invested: $36,372 (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: 21
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,143 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$58 /mo · $690/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $110

Break-even live

Break-even rent $1,004

Max offer price $129,900

Occupancy floor 85%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $129,900 Active 93 DOM
2. 2026-06-17
   days on market $129,900 Active 92 DOM
3. 2026-06-16
   days on market $129,900 Active 91 DOM
4. 2026-06-15
   days on market $129,900 Active 90 DOM
5. 2026-06-13
   days on market $129,900 Active 88 DOM
6. 2026-06-12
   days on market $129,900 Active 87 DOM
7. 2026-06-09
   days on market $129,900 Active 84 DOM
8. 2026-06-08
   days on market $129,900 Active 83 DOM
9. 2026-06-08
   days on market $129,900 Active 82 DOM
10. 2026-06-05
    days on market $129,900 Active 80 DOM
11. 2026-06-03
    days on market $129,900 Active 78 DOM
12. 2026-06-02
    days on market $129,900 Active 77 DOM
13. 2026-06-01
    days on market $129,900 Active 76 DOM
14. 2026-05-31
    days on market $129,900 Active 75 DOM
15. 2026-04-16
    price $129,900
16. 2026-03-17
    listed $135,000 Active
17. 2024-06-11
    soldstatus $132,000
18. 2024-06-10
    soldstatus $132,000 Closed 350-char remark

    Show marketing remark (350 chars)

    Very charming and cozy 2 bed, 2 bath home on a corner lot. The house is in a quiet neighborhood close to schools and only a 10 minute drive to Reelfoot Lake! It has a large foyer, office space and laundry room and the kitchen opens up to a beautiful formal dining room. There's lots to see so don't let this one get away. Call today to set up a tour.

19. 2024-05-05
    status Pending 350-char remark

    Show marketing remark (350 chars)

    Very charming and cozy 2 bed, 2 bath home on a corner lot. The house is in a quiet neighborhood close to schools and only a 10 minute drive to Reelfoot Lake! It has a large foyer, office space and laundry room and the kitchen opens up to a beautiful formal dining room. There's lots to see so don't let this one get away. Call today to set up a tour.

20. 2024-04-30
    listed $130,000 Active 350-char remark

    Show marketing remark (350 chars)

    Very charming and cozy 2 bed, 2 bath home on a corner lot. The house is in a quiet neighborhood close to schools and only a 10 minute drive to Reelfoot Lake! It has a large foyer, office space and laundry room and the kitchen opens up to a beautiful formal dining room. There's lots to see so don't let this one get away. Call today to set up a tour.

21. 2021-01-08
    soldstatus $60,000
22. 2020-11-30
    soldstatus $60,000
23. 2020-07-02
    listed $55,900
24. 2012-12-27
    soldstatus $29,000

ⓘ 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: $690 · $58/mo
• Projected year-2 tax: $922 · $77/mo
• Expected delta: +$232/yr (+$19/mo · 33.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 22 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: $13,717
• − Mortgage interest: −$7,276
• − Property taxes: −$690
• − Insurance: −$650
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − Depreciation: −$3,779
• Taxable loss: −$873
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $1,532/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

+347.9% since first listed

10 events — show timeline

• 2026-04-16 Price Changed $129,900 CWTAR
• 2026-03-17 Listed $135,000 CWTAR
• 2024-06-11 Sold (Public Records) $132,000 Public Records
• 2024-06-10 Sold (MLS) $132,000 RRAR as distributed by MLS GRID
• 2024-05-05 Pending — RRAR as distributed by MLS GRID
• 2024-04-30 Listed $130,000 RRAR as distributed by MLS GRID
• 2021-01-08 Sold (Public Records) $60,000 Public Records
• 2020-11-30 Sold (MLS) $60,000 CWTAR
• 2020-07-02 Listed $55,900 CWTAR
• 2012-12-27 Sold (Public Records) $29,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $690 · +0.0% YoY. Source: county tax records.