742 Smith Hiteman Rd

Claryville, KY 41001

$169,900C+

4 bd · 2.5 ba · 1,800 sqft · Built 1962 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,056/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$319
• HOA: −$0
• Vac / Maint / Mgmt: −$432
• Net cashflow: $415/mo
• Annual: $4,977/yr
• Cap rate: 9.22%
• Cash-on-cash: 10.46%
• DSCR: 1.47
• 1% rule: 1.21%
• Cash to close: $47,572

Investor read

• This is a 4-bed/2.5-bath single-family listed at $170k.
• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• It's been on market 44 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#302 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Campbell County (suburban): math 43% / reading 47% proficiency, ranked #15 of 165 in KY (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grant'S Lick Elementary School (math 77% / reading 52%, grade B, #19 of 676 statewide, top 3%, 356 students, 41% FRL); Campbell County Middle School (math 37% / reading 45%, grade F, #54 of 217 statewide, top 25%, 1,184 students, 45% FRL); Campbell County High School (math 35% / reading 43%, grade F, #51 of 254 statewide, top 21%, 1,551 students, 41% FRL).
• Market conditions: 172 active listings in the ZIP; solid renter incomes; 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $170k implies a 208% gain — meaningful room to come down on a strong offer.
• Cap rate 9.2% vs local median 2.8% in Claryville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.