206 Waleto St · Jeffersonville, KY 40337

$79,900

2 bd · 2.0 ba · 980 sqft · Manufactured · 45 Days on market

Built 1986 0.78 ac lot $82/sqft · 50% below area Est $158k · 50% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Priced to sell for the first time home owner just getting started or for all the Investors- don't wait, hurry and add this one to your Rental Portfolio. Beautiful level lot with storage building with lean to as well as extra storage in the back. The home has 2 bedrooms, 2 baths. With just a little TLC this would make a great investment for all. Estate sale, being sold as is.

Key facts

• Extra storage
• Storage building
• Level lot

Tags

• LEVEL LOT
• STORAGE BUILDING
• EXTRA STORAGE

Property features AI

Exterior

• Parking: Driveway parking
• Utilities: Public water; Septic tank; Electricity connected
• Home design: Manufactured single-story home
• Construction: Aluminum siding; Metal roof; Pillar/post/pier foundation
• Exterior features: Yard includes shed(s)

Interior

• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: No built-in appliances included; 6 total rooms; No fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 3.3% in Jeffersonville — 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 61/100 on livability (#382 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: health & safety D+, amenities F, commute F.
• Montgomery County (rural): math 24% / reading 44% proficiency, ranked #76 of 165 in KY (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Camargo Elementary School (math 19% / reading 40%, grade F, #393 of 676 statewide, top 63%, 576 students, 64% FRL); Mcnabb Middle School (math 19% / reading 47%, grade F, #112 of 217 statewide, top 53%, 1,018 students, 55% FRL); Montgomery County High School (math 29% / reading 39%, grade F, #89 of 254 statewide, top 36%, 1,279 students, 47% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 43 active listings in the ZIP; 56 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($552 loan paydown + $5k appreciation (6.7% local appreciation)).
• Montgomery County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $80k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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: 1.64% ✓
• Cap rate: 14.60%
• Cash-on-cash: 29.67%
• DSCR: 2.32
• GRM: 5.1

CMA / ARV

• ARV (median comp): $158,274
• List price: $79,900
• Delta: -49.52%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

6.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.7%
• Equity multiple: 3.75×
• Total profit: $61,625
• Equity at exit: $53,786

10-year hold

• IRR: 38.2%
• Equity multiple: 7.83×
• Total profit: $152,889
• Equity at exit: $100,766

Cash invested: $22,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40337

• Home prices YoY: 2.9%
• Active inventory: 43
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$29 /mo · $348/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $553

Break-even live

Break-even rent $609

Max offer price $79,900

Occupancy floor 53%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $79,900 Active 45 DOM
2. 2026-06-17
   days on market $79,900 Active 44 DOM
3. 2026-06-16
   days on market $79,900 Active 43 DOM
4. 2026-06-15
   days on market $79,900 Active 42 DOM
5. 2026-06-14
   days on market $79,900 Active 40 DOM
6. 2026-06-13
   days on market $79,900 Active 39 DOM
7. 2026-06-10
   days on market $79,900 Active 37 DOM
8. 2026-06-09
   days on market $79,900 Active 36 DOM
9. 2026-06-08
   days on market $79,900 Active 35 DOM
10. 2026-06-07
    days on market $79,900 Active 34 DOM
11. 2026-06-03
    days on market $79,900 Active 30 DOM
12. 2026-06-02
    days on market $79,900 Active 29 DOM
13. 2026-06-01
    days on market $79,900 Active 28 DOM
14. 2026-05-31
    days on market $79,900 Active 27 DOM
15. 2026-05-31
    days on market $79,900 Active 26 DOM
16. 2026-05-12
    price $84,900 379-char remark
17. 2026-05-04
    listed $94,500 Active 379-char remark
18. 2007-05-24
    soldstatus $38,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $348 · $29/mo
• Projected year-2 tax: $687 · $57/mo
• Expected delta: +$339/yr (+$28/mo · 97.6%)

ⓘ 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 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 6% 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: $15,714
• − Mortgage interest: −$4,476
• − Property taxes: −$348
• − Insurance: −$400
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$2,324
• Taxable income: $5,653
• Est. tax owed @ 24.0%: −$1,357
• After-tax cash flow: $5,282/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: Montgomery County
• NCES district ID: 2104250
• Math proficiency: 24% ▼ -21.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $38,262
• Composite: 28.32/100
• National rank: #6782
• State rank: #76 of 165 in KY

Livability — Jeffersonville

• Score: 61/100
• State rank: #382
• US rank: #18158

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D- Housing B Health & safety D+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,461

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,814 people
• By 2030: 30,705 · +3.0%
• By 2040: 32,189 · +8.0%
• By 2050: 33,131 · +11.1%
• By 2075: 33,991 · +14.0%
• By 2100: 32,097 · +7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+46.6) · D 26.0% · R 72.6% · Other 1.5%
• 2008→2024 swing: -30.0pp toward R · 2008: -16.6pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+41.8 2016: R+41.1 2012: R+26.3 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.70%
• Current HPI: 241.3612
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+107.5% since first listed

4 events — show timeline

• 2026-05-20 Price Changed $79,900 ImagineMLS
• 2026-05-12 Price Changed $84,900 ImagineMLS
• 2026-05-04 Listed $94,500 ImagineMLS
• 2007-05-24 Sold (Public Records) $38,500 Public Records