320 Riverview Dr

Adairville, KY 42202

$54,900B

2 bd · 2.0 ba · 840 sqft · Built 1995 · Other · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $855/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $220/mo
• Annual: $2,643/yr
• Cap rate: 13.84%
• Cash-on-cash: 26.97%
• DSCR: 2.20
• 1% rule: 1.56%
• Cash to close: $15,372

Investor read

• This is a 2-bed/2.0-bath other listed at $55k.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $55k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-0.7%/yr); year-one equity from $380 of loan paydown is wiped out by about $404 of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#353 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.
• Logan County (rural): math 35% / reading 44% proficiency, ranked #32 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Adairville Elementary School (math 35% / reading 34%, grade F, #301 of 676 statewide, top 48%, 351 students, 52% FRL); Logan County High School (math 32% / reading 54%, grade F, #30 of 254 statewide, top 12%, 953 students, 47% FRL) — zoned schools at 50% FRL track the district average.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 8 active listings in the ZIP; 30 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $8k; list at $55k implies a 586% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.