2139 Ky-215

Kenvir, KY 40828

$62,500B-

2 bd · 1.0 ba · 1,028 sqft · Built 2006 · SingleFamily · Active · 175 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $971/mo
• Mortgage (P&I): −$328
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $335/mo
• Annual: $4,017/yr
• Cap rate: 12.72%
• Cash-on-cash: 22.96%
• DSCR: 2.02
• 1% rule: 1.55%
• Cash to close: $17,500

Investor read

• This is a 2-bed/1.0-bath single-family listed at $62k. Condition is rated poor.
• 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).
• It's been on market 175 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• 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.
• 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.
• 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• 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