1457 Pine Grove School Rd · London, KY 40744

$69,900

4 bd · 2.0 ba · 2,016 sqft · Manufactured public records · 52 Days on market

Built 2014 0.32 ac lot $35/sqft · 73% below area ↓ 12% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman / investor special! This 2014 double wide home offers over 2,000 sq ft of living space with 4 bedrooms and 2 bathrooms, situated on approximately 0.3 acres. The property has great potential and just needs a little TLC to bring it back to its full potential. With its spacious layout, this home would make a great investment opportunity, rental property, or affordable project for someone looking to add their own touch. Sold AS IS - Cash or Convectional finance only

Key facts

• 0.32 acre lot
• Built 2014
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 2.3% in London — 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 68/100 on livability (#202 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools D+, employment D+, amenities F.
• Laurel County (town): math 51% / reading 56% proficiency, ranked #8 of 165 in KY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 175 active listings in the ZIP; 16 units permitted in Laurel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.85% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.30%
• DSCR: 2.57
• GRM: 4.5

CMA / ARV

• ARV (median comp): $262,407
• List price: $69,900
• Delta: -73.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.9%
• Equity multiple: 2.29×
• Total profit: $25,335
• Equity at exit: $10,422

10-year hold

• IRR: 38.1%
• Equity multiple: 4.54×
• Total profit: $69,257
• Equity at exit: $6,044

Cash invested: $19,572 (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 40744

• Home prices YoY: -13.0%
• Active inventory: 175
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$49 /mo · $584/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $576

Break-even live

Break-even rent $562

Max offer price $69,900

Occupancy floor 50%

Sensitivity live

Price	-10% $615	-5% $595	+0% $576	+5% $556	+10% $536
Rent	-10% $474	-5% $525	+0% $576	+5% $627	+10% $678
Rate	-1.0pp $611	-0.5pp $593	base $576	+0.5pp $558	+1.0pp $539

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-04
   days on market $69,900 Active 52 DOM
2. 2026-06-02
   days on market $69,900 Active 51 DOM
3. 2026-06-01
   days on market $69,900 Active 50 DOM
4. 2026-05-31
   days on market $69,900 Active 49 DOM
5. 2026-05-31
   days on market $69,900 Active 48 DOM
6. 2026-04-30
   price $69,900 475-char remark

   Show marketing remark (475 chars)

   Handyman / investor special! This 2014 double wide home offers over 2,000 sq ft of living space with 4 bedrooms and 2 bathrooms, situated on approximately 0.3 acres. The property has great potential and just needs a little TLC to bring it back to its full potential. With its spacious layout, this home would make a great investment opportunity, rental property, or affordable project for someone looking to add their own touch. Sold AS IS - Cash or Convectional finance only

7. 2026-04-16
   status Active 475-char remark

   Show marketing remark (475 chars)

   Handyman / investor special! This 2014 double wide home offers over 2,000 sq ft of living space with 4 bedrooms and 2 bathrooms, situated on approximately 0.3 acres. The property has great potential and just needs a little TLC to bring it back to its full potential. With its spacious layout, this home would make a great investment opportunity, rental property, or affordable project for someone looking to add their own touch. Sold AS IS - Cash or Convectional finance only

8. 2026-03-20
   historical 475-char remark

   Show marketing remark (475 chars)

   Handyman / investor special! This 2014 double wide home offers over 2,000 sq ft of living space with 4 bedrooms and 2 bathrooms, situated on approximately 0.3 acres. The property has great potential and just needs a little TLC to bring it back to its full potential. With its spacious layout, this home would make a great investment opportunity, rental property, or affordable project for someone looking to add their own touch. Sold AS IS - Cash or Convectional finance only

9. 2026-03-16
   listed $79,000 Active 475-char remark

   Show marketing remark (475 chars)

   Handyman / investor special! This 2014 double wide home offers over 2,000 sq ft of living space with 4 bedrooms and 2 bathrooms, situated on approximately 0.3 acres. The property has great potential and just needs a little TLC to bring it back to its full potential. With its spacious layout, this home would make a great investment opportunity, rental property, or affordable project for someone looking to add their own touch. Sold AS IS - Cash or Convectional finance only

ⓘ 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: $584 · $49/mo
• Projected year-2 tax: $601 · $50/mo
• Expected delta: +$18/yr (+$1/mo · 3.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,494
• − Mortgage interest: −$3,915
• − Property taxes: −$584
• − Insurance: −$350
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$2,033
• Taxable income: $6,133
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $5,436/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: Laurel County
• NCES district ID: 2103210
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $36,577
• Composite: 44.39/100
• National rank: #2814
• State rank: #8 of 165 in KY

Livability — London

• Score: 68/100
• State rank: #202
• US rank: #10028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,104

Population outlook (Laurel County) Hauer SSP2

• Today (2025): 62,602 people
• By 2030: 63,310 · +1.1%
• By 2040: 63,706 · +1.8%
• By 2050: 62,705 · +0.2%
• By 2075: 58,574 · -6.4%
• By 2100: 50,888 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 2% Serbian 1% Romanian 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 98% English-only · Chinese 1% Spanish 0%

Political lean MEDSL · Laurel

• 2024 margin: Solid R (+69.9) · D 14.5% · R 84.3% · Other 1.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -58.0pp · 2024: -69.9pp
• All cycles: 2024: R+69.9 2020: R+66.7 2016: R+69.1 2012: R+63.6 2008: R+58.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.52%
• Current HPI: 270.3876
• Rent YoY: —
• Metro: —
• 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

-11.5% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $69,900 ImagineMLS
• 2026-04-16 Relisted — ImagineMLS
• 2026-03-20 Listing Removed — ImagineMLS
• 2026-03-16 Listed $79,000 ImagineMLS

Property tax history

-0.8%/yr

Latest (2025): $584 · +0.9% YoY. Source: county tax records.