3 bd · 2.0 ba ·
1,216 sqft ·
Built 2026
· Manufactured
· Active
· 96 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,875/mo
Mortgage (P&I)
−$273
Tax + insurance
−$87
HOA
−$0
Vac / Maint / Mgmt
−$394
Net cashflow
$1,122/mo
Annual
$13,465/yr
Cap rate
32.19%
Cash-on-cash
92.48%
DSCR
5.11
1% rule
3.61%
Cash to close
$14,560
Investor read
This is a 3-bed/2.0-bath manufactured listed at $52k.
At list price, monthly cash flow is $1k ($13k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $52k).
It's been on market 96 days — a 9% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $47k (9.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
Location reads 73/100 on livability (#119 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
Bullitt County (suburban): math 29% / reading 41% proficiency, ranked #55 of 165 in KY (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Market conditions: 270 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 380 units permitted in Bullitt County in 2024 (8 in 5+ unit buildings).
Bullitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
Cap rate 32.2% vs local median 3.5% in Shepherdsville — 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 96 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 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?
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.
CashFlowRE · CFR-2VFTZ8DR54BDK6
· Data 1 week agocashflowre.app · 2026-05-29