Barkley (Whispering Oaks) Plan

Brooks, KY 40229

$65,995D

2 bd · 2.0 ba · 849 sqft · Built — · Manufactured · Active · 236 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,201/mo
• Mortgage (P&I): −$346
• Tax + insurance: −$110
• HOA: −$560
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-67/mo
• Annual: $-803/yr
• Cap rate: 5.08%
• Cash-on-cash: -4.35%
• DSCR: 0.81
• 1% rule: 1.82%
• Cash to close: $18,479

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $66k.
• At list price, monthly cash flow is $-67 ($-803/yr) — negative.
• To cash-flow at today's rent, offer at most $56k (14.7% below list).
• Meets the 1% rule at list price ($1k rent vs $66k).
• It's been on market 236 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (14.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#277 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Bullitt County (suburban): math 29% / reading 41% proficiency, ranked #55 of 165 in KY (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 47% of rent.
• Market conditions: Rents rising fast (+5.5%/yr); 243 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 380 units permitted in Bullitt County in 2024 (8 in 5+ unit buildings).
• Bullitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 236 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.