Clayton Guardian 56 (24x56) Plan

Ghent, KY 41045

$94,193C

3 bd · 2.0 ba · 1,325 sqft · Built — · Manufactured · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$494
• Tax + insurance: −$157
• HOA: −$450
• Vac / Maint / Mgmt: −$315
• Net cashflow: $84/mo
• Annual: $1,009/yr
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• 1% rule: 1.59%
• Cash to close: $26,374

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $94k. Condition is rated good.
• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• It's been on market 27 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($651 loan paydown + $546 appreciation (0.6% local appreciation)).
• Location reads 60/100 on livability (#384 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Carroll County (town): math 12% / reading 23% proficiency, ranked #163 of 165 in KY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: HOA is 30% of rent.
• Market conditions: 24 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.