459 N Broadway

Carlisle, KY 40311

$25,000B+

2 bd · 1.0 ba · 1,058 sqft · Built — · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $981/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$16
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $628/mo
• Annual: $7,531/yr
• Cap rate: 36.42%
• Cash-on-cash: 107.59%
• DSCR: 5.79
• 1% rule: 3.92%
• Cash to close: $7,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $25k.
• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $25k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($173 loan paydown + $2k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#349 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Nicholas County (rural): math 22% / reading 32% proficiency, ranked #132 of 165 in KY (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Nicholas County Elementary School (math 22% / reading 29%, grade F, #477 of 676 statewide, top 71%, 664 students, 71% FRL); Nicholas County High School (math 22% / reading 37%, grade F, #127 of 254 statewide, top 58%, 455 students, 63% FRL) — zoned schools average 67% FRL vs 50% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 2 units permitted in Nicholas County in 2024 (0 in 5+ unit buildings).
• Nicholas County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $10k; list at $25k implies a 163% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 36.4% vs local median 3.7% in Carlisle — 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 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.