81 Buncombe Church Rd

Eubank, KY 42567

$194,900C-

3 bd · 2.0 ba · 1,512 sqft · Built 2026 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,581/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$332
• Net cashflow: $104/mo
• Annual: $1,246/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• 1% rule: 0.81%
• Cash to close: $54,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (18.9% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $158k (18.9% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.3% local appreciation)).
• Location reads 65/100 on livability (#262 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.
• Pulaski County (town): math 43% / reading 53% proficiency, ranked #17 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eubank Elementary School (math 27% / reading 47%, grade F, #255 of 676 statewide, top 42%, 368 students, 83% FRL); Pulaski County High School (math 42% / reading 47%, grade F, #21 of 254 statewide, top 10%, 1,209 students, 57% FRL).
• Market conditions: 37 active listings in the ZIP; 117 units permitted in Pulaski County in 2024 (50 in 5+ unit buildings).
• At projected returns (2.3% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 4.7% in Eubank — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.