24 Main St

Big Clifty, KY 42712

$89,900B-

3 bd · 2.0 ba · 1,056 sqft · Built 2017 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,053/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $292/mo
• Annual: $3,499/yr
• Cap rate: 10.19%
• Cash-on-cash: 13.90%
• DSCR: 1.62
• 1% rule: 1.17%
• Cash to close: $25,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $292 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 46/100 on livability (#516 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Grayson County (rural): math 27% / reading 40% proficiency, ranked #84 of 165 in KY (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clarkson Elementary School (math 33% / reading 44%, grade F, #234 of 676 statewide, top 36%, 609 students, 65% FRL); Grayson County Middle School (math 23% / reading 38%, grade F, #143 of 217 statewide, top 67%, 839 students, 63% FRL); Grayson County High School (math 24% / reading 38%, grade F, #118 of 254 statewide, top 47%, 1,252 students, 61% FRL).
• Market conditions: 12 active listings in the ZIP; 23 units permitted in Grayson County in 2024 (12 in 5+ unit buildings).
• 3 sale attempts since 11y 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 $19k; list at $90k implies a 381% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.2% vs local median 3.8% in Big Clifty — 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

• 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.