115 W Graham St · Fredonia, KY 42411

$35,000

3 bd · 1.0 ba · 896 sqft · Manufactured public records · 158 Days on market

Built 1997 8,712 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.8/10.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

Key facts

• Spacious lot
• Ample cabinet space
• 8,712 sq ft lot

Tags

• FUNCTIONAL FLOOR PLAN
• AMPLE CABINET SPACE
• SPACIOUS LOT
• DETACHED STORAGE BUILDING
• ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Residential property
• Exterior features: Gravel road/driveway

Interior

• Kitchen: Refrigerator; Cooktop
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Window air conditioning unit(s)
• Interior features: Eat-in kitchen
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $35k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($839 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#240 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, amenities F, commute F.
• Caldwell County (rural): math 28% / reading 39% proficiency, ranked #78 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caldwell County Primary School (523 students, 64% FRL); Caldwell County Middle School (math 25% / reading 42%, grade F, #105 of 217 statewide, top 51%, 421 students, 55% FRL).
• Market conditions: 9 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.5%/yr); year-one equity from $242 of loan paydown is wiped out by about $859 of value loss. Plan a longer hold.
• Caldwell County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $13k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 2.40% ✓
• Cap rate: 21.15%
• Cash-on-cash: 53.05%
• DSCR: 3.36
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.7%
• Equity multiple: 3.32×
• Total profit: $22,729
• Equity at exit: $6,073

10-year hold

• IRR: 56.6%
• Equity multiple: 6.72×
• Total profit: $56,042
• Equity at exit: $4,514

Cash invested: $9,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 42411

• Home prices YoY: -1.2%
• Active inventory: 9
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $839 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$32 /mo · $378/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $433

Break-even live

Break-even rent $291

Max offer price $35,000

Occupancy floor 43%

Sensitivity live

Price	-10% $453	-5% $443	+0% $433	+5% $423	+10% $413
Rent	-10% $367	-5% $400	+0% $433	+5% $466	+10% $500
Rate	-1.0pp $451	-0.5pp $442	base $433	+0.5pp $424	+1.0pp $415

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $35,000 Active 158 DOM
2. 2026-06-18
   days on market $35,000 Active 156 DOM
3. 2026-06-17
   days on market $35,000 Active 155 DOM
4. 2026-06-16
   days on market $35,000 Active 154 DOM
5. 2026-06-15
   days on market $35,000 Active 153 DOM
6. 2026-06-13
   days on market $35,000 Active 151 DOM
7. 2026-06-12
   days on market $35,000 Active 150 DOM
8. 2026-06-09
   days on market $35,000 Active 147 DOM
9. 2026-06-08
   days on market $35,000 Active 146 DOM
10. 2026-06-07
    days on market $35,000 Active 145 DOM
11. 2026-06-07
    days on market $35,000 Active 144 DOM
12. 2026-06-04
    days on market $35,000 Active 141 DOM
13. 2026-06-02
    days on market $35,000 Active 140 DOM
14. 2026-06-01
    days on market $35,000 Active 139 DOM
15. 2026-05-31
    days on market $35,000 Active 138 DOM
16. 2026-05-31
    days on market $35,000 Active 137 DOM
17. 2026-04-24
    price $35,000
18. 2026-02-25
    price $39,999
19. 2026-01-08
    listed $48,000 Active
20. 2025-06-27
    listed $39,900 Active 561-char remark

    Show marketing remark (561 chars)

    Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

21. 2024-05-20
    soldstatus $35,000 Closed 561-char remark

    Show marketing remark (561 chars)

    Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

22. 2024-05-20
    soldstatus $35,000 Closed 561-char remark

    Show marketing remark (561 chars)

    Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

23. 2024-02-29
    price $39,900 561-char remark

    Show marketing remark (561 chars)

    Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

24. 2024-02-13
    price $45,000 561-char remark

    Show marketing remark (561 chars)

    Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

25. 2023-12-18
    listed $47,900 Active 561-char remark

    Show marketing remark (561 chars)

    Updated, budget friendly and all electric! Located on a quiet street in town, this 2 bedroom 1 bathroom manufactured home would make a great starter home or a rental property for an investor. Updates include laminate flooring throughout and a newer hot water heater. The open living and kitchen area is great for entertaining, and the large flat yard is partially fenced on three sides. Small shed is a convenient place for keeping yard tools. Walk to Coppertop BBQ or the Coon Dog Inn from your new home. Property is for sale only. Not for rent or rent to own.

26. 2002-03-01
    soldstatus $23,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $378 · $32/mo
• Projected year-2 tax: $378 · $32/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,069
• − Mortgage interest: −$1,961
• − Property taxes: −$378
• − Insurance: −$175
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$1,018
• Taxable income: $4,926
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $4,017/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Caldwell County
• NCES district ID: 2100840
• Math proficiency: 28% ▼ -29.00%
• Reading proficiency: 39% ▼ -19.00%
• Median HH income: $40,080
• Composite: 28.12/100
• National rank: #6819
• State rank: #78 of 165 in KY

Livability — Fredonia

• Score: 66/100
• State rank: #240
• US rank: #11765

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment D+ Housing A- Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fredonia, KY
• Population (ZIP): 1,926

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 12,100 people
• By 2030: 11,739 · -3.0%
• By 2040: 11,088 · -8.4%
• By 2050: 10,543 · -12.9%
• By 2075: 9,406 · -22.3%
• By 2100: 8,084 · -33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Italian 7% Lithuanian 2% Serbian 1%
• Languages at home: 95% English-only · German/W. Germanic 5%

Political lean MEDSL · Caldwell

• 2024 margin: Solid R (+58.2) · D 20.3% · R 78.5% · Other 1.2%
• 2008→2024 swing: -31.6pp toward R · 2008: -26.7pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+54.0 2016: R+54.4 2012: R+35.0 2008: R+26.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.45%
• Current HPI: 199.8293
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+52.2% since first listed

10 events — show timeline

• 2026-04-24 Price Changed $35,000 WKRMLS
• 2026-02-25 Price Changed $39,999 WKRMLS
• 2026-01-08 Listed $48,000 WKRMLS
• 2025-06-27 Listed $39,900 WKRMLS
• 2024-05-20 Sold (MLS) $35,000 WKRMLS
• 2024-05-20 Sold (MLS) $35,000 WKRMLS
• 2024-02-29 Price Changed $39,900 WKRMLS
• 2024-02-13 Price Changed $45,000 WKRMLS
• 2023-12-18 Listed $47,900 WKRMLS
• 2002-03-01 Sold (Public Records) $23,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $378 · +87.6% YoY. Source: county tax records.