2139 Ky-215 · Kenvir, KY 40828

$62,500

2 bd · 1.0 ba · 1,028 sqft · SingleFamily · 175 Days on market

Built 2006 Poor condition 8,712 sqft lot $61/sqft · 64% above area

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.0/10.0
• Appreciation +1.3/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

If you're looking to turn a house into a home, this is your opportunity! This 2 bedroom 1 bathroom home sits on a lovely flat yard, and just outside the Evarts community. Priced to sell, this home won't last long. Make it yours today!

Key facts

• 8,712 sq ft lot
• Built 2006
• Listed 175 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $62k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($971 rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#457 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Harlan County (rural): math 16% / reading 35% proficiency, ranked #149 of 165 in KY (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 10 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $432 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Harlan County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Recommended offer $55,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.55% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.96%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $38,024
• List price: $62,500
• Delta: 64.37%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.9%
• Equity multiple: 1.64×
• Total profit: $11,210
• Equity at exit: $9,319

10-year hold

• IRR: 24.6%
• Equity multiple: 3.13×
• Total profit: $37,277
• Equity at exit: $5,404

Cash invested: $17,500 (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 40828

• Home prices YoY: -3.8%
• Active inventory: 10
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $971 medium
• Mortgage (P&I): −$328
• Tax est. 1.5%: −$78 /mo · $938/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $335

Break-even live

Break-even rent $547

Max offer price $62,500

Occupancy floor 60%

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-03
   days on market $62,500 Active 175 DOM
2. 2026-06-02
   days on market $62,500 Active 174 DOM
3. 2026-06-01
   days on market $62,500 Active 173 DOM
4. 2026-05-31
   days on market $62,500 Active 172 DOM
5. 2025-12-08
   listed $62,500 Active 234-char remark

   Show marketing remark (234 chars)

   If you're looking to turn a house into a home, this is your opportunity! This 2 bedroom 1 bathroom home sits on a lovely flat yard, and just outside the Evarts community. Priced to sell, this home won't last long. Make it yours today!

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

Taxation est. · year 1

• Rental income: $11,646
• − Mortgage interest: −$3,501
• − Property taxes: −$938
• − Insurance: −$312
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$1,818
• Taxable income: $3,214
• Est. tax owed @ 24.0%: −$771
• After-tax cash flow: $3,246/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This home requires extensive renovations, including painting, landscaping, and replacing flooring, cabinets, and fixtures. While it has potential, the current state significantly impacts its value.

Repairs flagged

• Major Deck — Structural damage
• Major Siding — Peeling and damaged
• Major Flooring — Worn and dirty
• Major Paint — Peeling and uneven
• Major Kitchen cabinets — Removed and in need of replacement
• Major Bathroom fixtures — Removed and in need of replacement

Value-add opportunities

• Resale Painting — Fresh paint enhances curb appeal
• Resale Landscaping — Well-maintained landscaping improves curb appeal
• Resale New flooring — New flooring improves aesthetics and functionality
• Resale New kitchen cabinets — New cabinets add value and functionality
• Resale New bathroom fixtures — New fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Structural damage	Major	$15,000–50,000
Siding · Peeling and damaged	Major	$15,000–50,000
Flooring · Worn and dirty	Major	$15,000–50,000
Paint · Peeling and uneven	Major	$15,000–50,000
Kitchen cabinets · Removed and in need of replacement	Major	$15,000–50,000
Bathroom fixtures · Removed and in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Painting — Fresh paint enhances curb appeal ↑
• Resale Landscaping — Well-maintained landscaping improves curb appeal ↑
• Resale New flooring — New flooring improves aesthetics and functionality ↑
• Resale New kitchen cabinets — New cabinets add value and functionality ↑
• Resale New bathroom fixtures — New fixtures improve functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Harlan County
• NCES district ID: 2102540
• Math proficiency: 16% ▼ -26.00%
• Reading proficiency: 35% ▼ -24.00%
• Median HH income: $26,283
• Composite: 20.13/100
• National rank: #8642
• State rank: #149 of 165 in KY

Livability — Kenvir

• Score: 56/100
• State rank: #457
• US rank: #22752

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 97
• Population (ZIP): 4,431

Population outlook (Harlan County) Hauer SSP2

• Today (2025): 24,324 people
• By 2030: 22,492 · -7.5%
• By 2040: 19,052 · -21.7%
• By 2050: 16,060 · -34.0%
• By 2075: 10,525 · -56.7%
• By 2100: 6,933 · -71.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 3% Two or more races 3%
• Common ancestry: Lithuanian 2% Serbian 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Harlan

• 2024 margin: Solid R (+76.2) · D 11.6% · R 87.7%
• 2008→2024 swing: -30.0pp toward R · 2008: -46.2pp · 2024: -76.2pp
• All cycles: 2024: R+76.2 2020: R+71.8 2016: R+72.2 2012: R+64.0 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.50%
• Current HPI: 191.4283
• 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

1 event — show timeline

• 2025-12-08 Listed $62,500 ImagineMLS