601 Pollard Road Rd

Ashland, KY 41101

$59,000C+

1 bd · 1.0 ba · 650 sqft · Built — · SingleFamily · Active · 466 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $930/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $382/mo
• Annual: $4,583/yr
• Cap rate: 14.06%
• Cash-on-cash: 27.74%
• DSCR: 2.23
• 1% rule: 1.58%
• Cash to close: $16,520

Investor read

• This is a 1-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($930 rent vs $59k).
• It's been on market 466 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#304 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Ashland Independent (urban): math 32% / reading 44% proficiency, ranked #49 of 165 in KY (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crabbe Elementary School (math 22% / reading 37%, grade F, #393 of 676 statewide, top 63%, 322 students, 94% FRL); Ashland Middle School (math 29% / reading 45%, grade F, #80 of 217 statewide, top 41%, 687 students, 63% FRL); Paul G. Blazer High School (math 27% / reading 42%, grade F, #76 of 254 statewide, top 34%, 893 students, 54% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 107 active listings in the ZIP; 2 units permitted in Boyd County in 2024 (0 in 5+ unit buildings).
• Boyd County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.1% vs local median 5.1% in Ashland — 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 466 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.