546 Banta Ln

Pleasureville, KY 40057

$299,900D

3 bd · 1.5 ba · 2,112 sqft · Built — · Other · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,409/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $-701/mo
• Annual: $-8,416/yr
• Cap rate: 3.49%
• Cash-on-cash: -10.02%
• DSCR: 0.55
• 1% rule: 0.47%
• Cash to close: $83,972

Investor read

• This is a 3-bed/1.5-bath other listed at $300k.
• At list price, monthly cash flow is $-701 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (41.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (53.0% below list).
• It's been on market 41 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (53.0% below list) — sets the bar for 1% rule.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#379 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Shelby County (town): math 26% / reading 37% proficiency, ranked #77 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wright Elementary (math 28% / reading 32%, grade F, #388 of 676 statewide, top 58%, 457 students, 53% FRL); Shelby County East Middle School (math 26% / reading 44%, grade F, #98 of 217 statewide, top 45%, 552 students, 47% FRL); Shelby County High School (math 24% / reading 36%, grade F, #122 of 254 statewide, top 49%, 994 students, 50% FRL).
• Market conditions: 29 active listings in the ZIP; 237 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).
• Shelby County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $114k; list at $300k implies a 162% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.