528 Olive St

La Center, KY 42056

$129,900C

3 bd · 2.0 ba · 1,472 sqft · Built — · Other · Pending · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,245/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $194/mo
• Annual: $2,324/yr
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• 1% rule: 0.96%
• Cash to close: $36,372

Investor read

• This is a 3-bed/2.0-bath other listed at $130k.
• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (4.1% below list).
• It's been on market 102 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-0.9%/yr); year-one equity from $898 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#415 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, housing C-, amenities F.
• Ballard County (rural): math 31% / reading 40% proficiency, ranked #61 of 165 in KY (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ballard County Elementary School (math 38% / reading 41%, grade F, #208 of 676 statewide, top 34%, 467 students, 58% FRL); Ballard County Middle School (math 24% / reading 39%, grade F, #125 of 217 statewide, top 63%, 215 students, 58% FRL).
• Market conditions: 8 active listings in the ZIP.
• Ballard County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.