A vintage handyman special from the 1940s is now available in Ridgely, Tennessee, offering a unique opportunity to renovate and potentially turn a profit.
Charming Features of the Ridgely Home
This 1,308-square-foot property on a 0.29-acre lot retains solid hardwood floors and a sturdy foundation, providing a reliable base for refurbishment. Such characteristics are sought after by buyers looking to blend historic charm with modern updates.
Location Benefits Near Recreational Spots
Situated close to Reel Foot Lake State Park, this property is well-positioned for those considering short-term rental options like VRBO and Airbnb. The proximity to natural attractions increases its appeal to outdoor enthusiasts and tourists seeking convenience and a welcoming environment.
Economic Advantages of Ridgely
Ridgely's housing market is notably affordable, highlighted by this listing's $49,500 price point. Alongside low living costs, the town's affordability is a key factor for investors and families prioritizing budget-friendly options without sacrificing quality of life.
Community and Safety
With a community-focused atmosphere and low crime rates, Ridgely enjoys a livability index rated above average by Citytistics. This supportive environment benefits residents seeking a quieter, safe small-town lifestyle.
Challenges in the Local Economy
Despite these positives, Ridgely experiences economic challenges including a declining population and notable poverty rates, with about 25% of residents living below the poverty line. Employment opportunities and local amenities are limited, affecting economic growth and lifestyle options.
Considerations for Families and Investors
Education quality in the area has raised concerns, which may impact families evaluating long-term residency. Investors targeting vacation rentals must weigh these factors alongside the town’s recreational draws and the property’s renovation potential.
Why This Property Stands Out for Renovation or Rental
The home’s solid construction and authentic hardwood elements make it ideal for renovation projects aimed at restoring 1940s character. Its affordability and location near popular outdoor destinations create a competitive edge for short-term rental investors looking to capitalize on Tennessee tourism.
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