1240 Finger Board Rd · Vanceburg, KY 41179

$90,000

3 bd · 1.0 ba · 1,200 sqft · Other · 90 Days on market

1.00 ac lot ↓ 5% 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

INVESTOR OPPORTUNITY - 1240 Fingerboard Road | Vanceburg, KY Looking for your next project with serious potential? This property could be the one. Located in a peaceful Lewis County setting, this home is currently livable but offers the perfect opportunity for someone ready to renovate, flip, or create their own custom home. With the right vision and updates, this property has the potential to be transformed into something truly special. Property Highlights: • Great fixer-upper / flip opportunity • Currently livable while you renovate • Strong potential for value-add improvements • Quiet rural setting in Lewis County • Ideal for investors, flippers, or handy home

Key facts

• Quiet rural location
• 1 acre lot
• Listed 90 days

Tags

• QUIET RURAL LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#180 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Lewis County (rural): math 27% / reading 39% proficiency, ranked #94 of 165 in KY (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lewis County Middle School (math 29% / reading 46%, grade F, #73 of 217 statewide, top 36%, 299 students, 78% FRL); Lewis County High School (math 27% / reading 47%, grade F, #58 of 254 statewide, top 27%, 621 students, 76% FRL).
• Market conditions: 39 active listings in the ZIP; lower-income renter base — watch delinquency.
• This rent runs 35% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Lewis County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — 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.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.26%
• DSCR: 1.63
• GRM: 6.9

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: 20.9%
• Equity multiple: 2.19×
• Total profit: $29,893
• Equity at exit: $40,468

10-year hold

• IRR: 22.0%
• Equity multiple: 4.16×
• Total profit: $79,670
• Equity at exit: $62,366

Cash invested: $25,200 (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 41179

• Active inventory: 39
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$50 /mo · $603/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $299

Break-even live

Break-even rent $708

Max offer price $90,000

Occupancy floor 67%

Sensitivity live

Price	-10% $350	-5% $325	+0% $299	+5% $274	+10% $249
Rent	-10% $214	-5% $257	+0% $299	+5% $342	+10% $385
Rate	-1.0pp $345	-0.5pp $322	base $299	+0.5pp $276	+1.0pp $252

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-13
   status Pending
2. 2026-03-18
   price $90,000
3. 2026-03-04
   price $94,999
4. 2026-01-12
   listed $95,000 Active

ⓘ 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: $603 · $50/mo
• Projected year-2 tax: $774 · $64/mo
• Expected delta: +$171/yr (+$14/mo · 28.4%)

ⓘ 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 3/10 Moderate 5 d/yr ≥101°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,050
• − Mortgage interest: −$5,041
• − Property taxes: −$603
• − Insurance: −$450
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$2,618
• Taxable income: $2,250
• Est. tax owed @ 24.0%: −$540
• After-tax cash flow: $3,054/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: Lewis County
• NCES district ID: 2103390
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $28,867
• Composite: 26.63/100
• National rank: #7172
• State rank: #94 of 165 in KY

Livability — Vanceburg

• Score: 69/100
• State rank: #180
• US rank: #8908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lewis · 9,091 people
• Population (ZIP): 7,039
• Household income: $37,086
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 6.9

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 13,023 people
• By 2030: 12,589 · -3.3%
• By 2040: 11,600 · -10.9%
• By 2050: 10,558 · -18.9%
• By 2075: 8,369 · -35.7%
• By 2100: 6,373 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+75.7) · D 11.6% · R 87.3% · Other 1.0%
• 2008→2024 swing: -40.2pp toward R · 2008: -35.5pp · 2024: -75.7pp
• All cycles: 2024: R+75.7 2020: R+70.8 2016: R+67.6 2012: R+41.6 2008: R+35.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-5.3% since first listed

4 events — show timeline

• 2026-04-13 Pending — ImagineMLS
• 2026-03-18 Price Changed $90,000 ImagineMLS
• 2026-03-04 Price Changed $94,999 ImagineMLS
• 2026-01-12 Listed $95,000 ImagineMLS

Property tax history

+1.8%/yr

Latest (2025): $603 · +844.9% YoY. Source: county tax records.