244 Emerald Ln

Hazard, KY 41777

$149,900D

3 bd · 1.0 ba · 1,200 sqft · Built 1977 · SingleFamily · Active · 133 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,066/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$203
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $-147/mo
• Annual: $-1,763/yr
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• 1% rule: 0.71%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (28.9% below list).
• It's been on market 133 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (28.9% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($1k loan paydown + $239 appreciation (0.2% local appreciation)).
• Location reads 68/100 on livability (#196 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• Leslie County (rural): math 35% / reading 46% proficiency, ranked #36 of 165 in KY (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hayes Lewis Elementary School (math 27% / reading 32%, grade F, #393 of 676 statewide, top 63%, 124 students, 52% FRL); Leslie County High School (math 32% / reading 32%, grade F, #97 of 254 statewide, top 46%, 472 students, 68% FRL).
• Market conditions: 2 active listings in the ZIP.
• Leslie County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 133 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.