15 N Sycamore St · Mount Sterling, KY 40353

$110,000

3 bd · 2.0 ba · 2,385 sqft · Other · 64 Days on market

Built 1938 4,200 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Incredible investment opportunity. Beautiful historic home with large addition in the heart of downtown Mount Sterling. This home has a recent appraisal for $164,000.00 (appraisal is attached) and we are listing for quick sale with $44,000.00 in instant equity. There is some work that needs to be done, but this home has a new roof and new gutters and plenty of equity that can be used to complete it.

Key facts

• Heart of downtown
• New gutters
• Large addition

Tags

• HISTORIC HOME
• LARGE ADDITION
• NEW ROOF
• NEW GUTTERS
• HEART OF DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.3% in Mount Sterling — 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 (#297 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Montgomery County (rural): math 24% / reading 44% proficiency, ranked #76 of 165 in KY (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mapleton Elementary School (math 32% / reading 47%, grade F, #208 of 676 statewide, top 34%, 510 students, 56% FRL); Mcnabb Middle School (math 19% / reading 47%, grade F, #112 of 217 statewide, top 53%, 1,018 students, 55% FRL); Montgomery County High School (math 29% / reading 39%, grade F, #89 of 254 statewide, top 36%, 1,279 students, 47% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 116 active listings in the ZIP; 56 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• GRM: 6.4

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: 9.7%
• Equity multiple: 1.38×
• Total profit: $11,742
• Equity at exit: $16,401

10-year hold

• IRR: 18.8%
• Equity multiple: 2.56×
• Total profit: $48,190
• Equity at exit: $9,511

Cash invested: $30,800 (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 40353

• Home prices YoY: -24.4%
• Active inventory: 116
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,428 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$40 /mo · $485/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $465

Break-even live

Break-even rent $839

Max offer price $110,000

Occupancy floor 62%

Sensitivity live

Price	-10% $527	-5% $496	+0% $465	+5% $434	+10% $403
Rent	-10% $352	-5% $408	+0% $465	+5% $521	+10% $578
Rate	-1.0pp $520	-0.5pp $493	base $465	+0.5pp $436	+1.0pp $407

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2025-07-28
   soldstatus $95,000
2. 2025-07-10
   status Pending
3. 2025-05-23
   price $110,000
4. 2025-05-06
   listed $120,000 Active
5. 2008-11-23
   historical
6. 2005-09-23
   listed $69,900

ⓘ 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: $485 · $40/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$461/yr (+$38/mo · 94.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,133
• − Mortgage interest: −$6,162
• − Property taxes: −$485
• − Insurance: −$550
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$3,200
• Taxable income: $3,995
• Est. tax owed @ 24.0%: −$959
• After-tax cash flow: $4,619/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: Montgomery County
• NCES district ID: 2104250
• Math proficiency: 24% ▼ -21.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $38,262
• Composite: 28.32/100
• National rank: #6782
• State rank: #76 of 165 in KY

Livability — Mount Sterling

• Score: 64/100
• State rank: #297
• US rank: #14214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Sterling, KY
• County: Montgomery County · 22,725 people
• City population: 22,725
• Metro: Mount Sterling, KY
• Population (ZIP): 22,725
• Household income: $57,329
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 454.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 29,814 people
• By 2030: 30,705 · +3.0%
• By 2040: 32,189 · +8.0%
• By 2050: 33,131 · +11.1%
• By 2075: 33,991 · +14.0%
• By 2100: 32,097 · +7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4% Black 3%
• Common ancestry: Italian 2% Slovak 1% Scottish 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+46.6) · D 26.0% · R 72.6% · Other 1.5%
• 2008→2024 swing: -30.0pp toward R · 2008: -16.6pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+41.8 2016: R+41.1 2012: R+26.3 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.89%
• Current HPI: 229.2128
• Rent YoY: —
• Metro: Mount Sterling, KY
• 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

+35.9% since first listed

6 events — show timeline

• 2025-07-28 Sold (Public Records) $95,000 Public Records
• 2025-07-10 Pending — ImagineMLS
• 2025-05-23 Price Changed $110,000 ImagineMLS
• 2025-05-06 Listed $120,000 ImagineMLS
• 2008-11-23 Listing Removed — ImagineMLS
• 2005-09-23 Listed $69,900 ImagineMLS