96 Obryan Cir

Dexter, KY 42020

$124,900C

2 bd · 2.0 ba · 1,624 sqft · Built 1983 · Other · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,092/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $105/mo
• Annual: $1,262/yr
• Cap rate: 7.30%
• Cash-on-cash: 3.61%
• DSCR: 1.16
• 1% rule: 0.87%
• Cash to close: $34,972

Investor read

• This is a 2-bed/2.0-bath other listed at $125k. Condition is rated fair.
• At list price, monthly cash flow is $105 ($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 $109k (12.6% below list).
• It's been on market 15 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (12.6% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#425 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: employment D, amenities F, commute F.
• Calloway County (town): math 44% / reading 48% proficiency, ranked #19 of 165 in KY (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Calloway Elementary School (math 42% / reading 45%, grade F, #162 of 676 statewide, top 24%, 573 students, 69% FRL); Calloway County Middle School (math 38% / reading 52%, grade D, #35 of 217 statewide, top 16%, 674 students, 57% FRL); Calloway County High School (math 47% / reading 47%, grade D-, #18 of 254 statewide, top 7%, 856 students, 53% FRL).
• Market conditions: 18 active listings in the ZIP; 81 units permitted in Calloway County in 2024 (66 in 5+ unit buildings).
• Calloway County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $65k; list at $125k implies a 92% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: wooden deck — slight wear
• Minor: wooden deck — slight wear
• Minor: wooden deck — slight wear