1015 W 4th Street St

Fulton, KY 42041

$89,900B

3 bd · 1.0 ba · 1,700 sqft · Built 1970 · Other · Active · 330 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,201/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $328/mo
• Annual: $3,935/yr
• Cap rate: 10.67%
• Cash-on-cash: 15.63%
• DSCR: 1.70
• 1% rule: 1.34%
• Cash to close: $25,172

Investor read

• This is a 3-bed/1.0-bath other listed at $90k.
• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 330 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• In year one you build about $781 of equity ($622 loan paydown + $159 appreciation (0.2% local appreciation)).
• Location reads 68/100 on livability (#204 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: housing D+, amenities D, schools F.
• Fulton Independent (town): math 25% / reading 35% proficiency, ranked #170 of 173 in KY (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP.
• Fulton County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $20k; list at $90k implies a 344% gain — meaningful room to come down on a strong offer.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.7% vs local median 5.4% in Fulton — 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

• It's been on market 330 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — 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 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?
• 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.