511 Hatfield Br

McCarr, KY 41544

$39,000B

3 bd · 2.0 ba · 1,344 sqft · Built 1979 · Manufactured · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,105/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $549/mo
• Annual: $6,584/yr
• Cap rate: 25.22%
• Cash-on-cash: 67.60%
• DSCR: 4.01
• 1% rule: 2.83%
• Cash to close: $10,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $39k.
• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($270 loan paydown + $769 appreciation (2.0% local appreciation)).
• Location reads 53/100 on livability (#485 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D+, amenities F, commute F.
• Pike County (rural): math 24% / reading 40% proficiency, ranked #98 of 165 in KY (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belfry High School (math 17% / reading 42%, grade F, #127 of 254 statewide, top 58%, 531 students, 62% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 7 active listings in the ZIP; 4 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.