10581 Michael Dr #10 · Claryville, KY 41001

$140,000

2 bd · 2.0 ba · 970 sqft · Condo public records · 9 Days on market

Built 1998 $305/mo HOA · 22% of rent

---

Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.0/10.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upper level, 2BD/2BA condo Rear Deck; Needs a little TLC, but priced accordingly. Being Sold As Is

Key facts

• Covered deck
• Open floor plan
• Clubhouse

Tags

• CATHEDRAL CEILING
• OPEN FLOOR PLAN
• COVERED DECK
• CLUBHOUSE
• POOL

Property features AI

Finance

• Other: Directions available
• HOA & community: Monthly association fee; Association amenities include year-round lake access, pool, and clubhouse; Association fee covers grounds and structure maintenance, snow removal, trash, and water

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story
• Construction: Built in 1998; Stone and vinyl siding exterior; Shingle roof; Poured concrete slab foundation
• Exterior features: Covered patio/porch; Deck; Balcony; Irregular lot; Lot area approximately 0.13 acres

Interior

• Kitchen: Electric oven; Electric range; Dishwasher; Microwave; Refrigerator; Breakfast room (9 x 7)
• Bedrooms: Primary bedroom (16 x 11); Bedroom 2 (12 x 11)
• Bathrooms: Primary bath (9 x 5); Bathroom 2 (8 x 5); 2 full bathrooms
• Interior features: Laundry room with washer and electric dryer hookups; Utility room; Slider windows; Balcony; Covered patio/porch and deck
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry room; Utility room (7 x 7)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-62 ($-739/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (7.8% below list).
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $129k (7.8% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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.

Location & tenants

• 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: John W. Reiley Elementary School (math 61% / reading 54%, grade C+, #45 of 676 statewide, top 7%, 494 students, 39% 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: 171 active listings in the ZIP; solid renter incomes; 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• This rent is only 17% of the median local income ($102k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $35k; list at $140k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,127 (7.8% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.33×
• Total profit: $-26,455
• Equity at exit: $20,874

10-year hold

• IRR: -11.7%
• Equity multiple: 0.30×
• Total profit: $-27,468
• Equity at exit: $12,105

Cash invested: $39,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 41001

• Active inventory: 171
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$58
• HOA: −$305
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-62

Break-even live

Break-even rent $1,493

Max offer price $129,127

Occupancy floor 99%

Sensitivity live

Price	-10% $18	-5% $-22	+0% $-62	+5% $-101	+10% $-141
Rent	-10% $-173	-5% $-117	+0% $-62	+5% $-6	+10% $50
Rate	-1.0pp $9	-0.5pp $-26	base $-62	+0.5pp $-98	+1.0pp $-135

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-06
   status Pending
2. 2026-04-27
   listed $140,000 Active
3. 2010-09-22
   soldstatus $35,000 98-char remark

   Show marketing remark (98 chars)

   Upper level, 2BD/2BA condo Rear Deck; Needs a little TLC, but priced accordingly. Being Sold As Is

4. 2010-05-10
   listed $39,900 98-char remark

   Show marketing remark (98 chars)

   Upper level, 2BD/2BA condo Rear Deck; Needs a little TLC, but priced accordingly. Being Sold As Is

5. 2005-02-17
   soldstatus $77,000
6. 2005-02-16
   soldstatus $76,900 240-char remark

   Show marketing remark (240 chars)

   Spacious!! This upper level condo features high vaulted ceiling, 2 full baths. Pool/clubhouse included in condo fee. Close to schools. Well maintained, very clean. Make your appointmnt today. At this price own this condo for less than rent.

7. 2005-01-12
   listed $76,900 240-char remark

   Show marketing remark (240 chars)

   Spacious!! This upper level condo features high vaulted ceiling, 2 full baths. Pool/clubhouse included in condo fee. Close to schools. Well maintained, very clean. Make your appointmnt today. At this price own this condo for less than rent.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $981 · $82/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: +$223/yr (+$19/mo · 22.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,978
• − Mortgage interest: −$7,842
• − Property taxes: −$981
• − Insurance: −$700
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − HOA: −$3,660
• − Depreciation: −$4,073
• Taxable loss: −$2,994
• Est. tax savings @ 24.0%: +$719
• After-tax cash flow: $-20/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Campbell County
• NCES district ID: 2100900
• Math proficiency: 43% ▼ -11.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $62,891
• Composite: 39.86/100
• National rank: #3864
• State rank: #15 of 165 in KY

Livability — Claryville

• Score: 64/100
• State rank: #302
• US rank: #14455

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Claryville, KY
• County: Campbell County · 84,793 people
• City population: 19,206
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 19,323
• Household income: $102,447
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 129.0

Population outlook (Campbell County) Hauer SSP2

• Today (2025): 95,668 people
• By 2030: 96,886 · +1.3%
• By 2040: 97,734 · +2.2%
• By 2050: 96,413 · +0.8%
• By 2075: 90,211 · -5.7%
• By 2100: 79,434 · -17.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Slovak 4% Lithuanian 2% Italian 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · Other Indo-European 1% Other Asian/Pacific 1% Spanish 0%

Political lean MEDSL · Campbell

• 2024 margin: R (+19.7) · D 39.2% · R 58.9% · Other 1.9%
• 2008→2024 swing: +1.2pp toward D · 2008: -20.9pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.6 2016: R+24.5 2012: R+22.8 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.32%
• Current HPI: 189.7464
• Rent YoY: —
• Metro: Cincinnati, OH-KY-IN
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+82.1% since first listed

7 events — show timeline

• 2026-05-06 Pending — NKMLS
• 2026-04-27 Listed $140,000 NKMLS
• 2010-09-22 Sold (MLS) $35,000 NKMLS
• 2010-05-10 Listed $39,900 NKMLS
• 2005-02-17 Sold (Public Records) $77,000 Public Records
• 2005-02-16 Sold (MLS) $76,900 NKMLS
• 2005-01-12 Listed $76,900 NKMLS

Property tax history

+8.5%/yr

Latest (2025): $981 · +16.9% YoY. Source: county tax records.