3125 State Route 156 · Rabbit Hash, KY 47040

$159,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 307 Days on market

Built 1991 4.85 ac lot

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Why this score? — see what drove the D 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 +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +3.3/10.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an opportunity! This 3 bed 2 bath manufactured home is being sold as-is and is in need of remodeling. The home sits in an excellent location with a seasonal river view on 4.8 acres! The property has a 28'x40' pole barn garage that is nice, has concrete floor, electric and is insulated. The property also has a secondary building spot if the new owner would decide to build new. Located just minutes from Rising Sun, call today.

Key facts

• Seasonal river view
• Concrete floor
• Insulated

Tags

• SEASONAL RIVER VIEW
• 28X40 POLE BARN GARAGE
• CONCRETE FLOOR
• INSULATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $67 ($808/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 $133k (17.0% below list).
• Recommended offer: $133k (17.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#440 in KY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing B+; Watch: employment D+, amenities F, commute F.
• Rising Sun-Ohio County Com (rural): math 24% / reading 38% proficiency, ranked #225 of 301 in IN (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ohio County Elementary School (math 27% / reading 27%, grade F, #737 of 994 statewide, top 76%, 409 students, 49% FRL); Ohio County Middle School (math 17% / reading 42%, grade F, #212 of 330 statewide, top 67%, 190 students, 48% FRL); Rising Sun High School (math 34% / reading 64%, grade D, #123 of 369 statewide, top 36%, 226 students, 35% FRL).
• Market conditions: 6 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ohio County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 307 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $84k; list at $160k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,671 (17.0% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 17% 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. 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?
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: 0.83% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.5%
• Equity multiple: 0.52×
• Total profit: $-21,680
• Equity at exit: $23,842

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-13,587
• Equity at exit: $13,825

Cash invested: $44,772 (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 47040

• Home prices YoY: -6.6%
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$76 /mo · $908/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $67

Break-even live

Break-even rent $1,242

Max offer price $159,900

Occupancy floor 90%

Sensitivity live

Price	-10% $158	-5% $113	+0% $67	+5% $22	+10% $-23
Rent	-10% $-38	-5% $15	+0% $67	+5% $120	+10% $172
Rate	-1.0pp $148	-0.5pp $108	base $67	+0.5pp $26	+1.0pp $-16

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-20
   status Pending
2. 2025-06-18
   listed $159,900 Active
3. 2024-09-10
   soldstatus $84,000 Closed 440-char remark

   Show marketing remark (440 chars)

   Looking for an opportunity! This 3 bed 2 bath manufactured home is being sold as-is and is in need of remodeling. The home sits in an excellent location with a seasonal river view on 4.8 acres! The property has a 28'x40' pole barn garage that is nice, has concrete floor, electric and is insulated. The property also has a secondary building spot if the new owner would decide to build new. Located just minutes from Rising Sun, call today.

4. 2024-08-27
   status Pending 440-char remark

   Show marketing remark (440 chars)

   Looking for an opportunity! This 3 bed 2 bath manufactured home is being sold as-is and is in need of remodeling. The home sits in an excellent location with a seasonal river view on 4.8 acres! The property has a 28'x40' pole barn garage that is nice, has concrete floor, electric and is insulated. The property also has a secondary building spot if the new owner would decide to build new. Located just minutes from Rising Sun, call today.

5. 2024-08-19
   listed $129,900 Active 440-char remark

   Show marketing remark (440 chars)

   Looking for an opportunity! This 3 bed 2 bath manufactured home is being sold as-is and is in need of remodeling. The home sits in an excellent location with a seasonal river view on 4.8 acres! The property has a 28'x40' pole barn garage that is nice, has concrete floor, electric and is insulated. The property also has a secondary building spot if the new owner would decide to build new. Located just minutes from Rising Sun, call today.

ⓘ 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: $908 · $76/mo
• Projected year-2 tax: $1,375 · $115/mo
• Expected delta: +$468/yr (+$39/mo · 51.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,921
• − Mortgage interest: −$8,957
• − Property taxes: −$908
• − Insurance: −$800
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$4,652
• Taxable loss: −$1,942
• Est. tax savings @ 24.0%: +$466
• After-tax cash flow: $1,274/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: Rising Sun-Ohio County Com
• NCES district ID: 1809600
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 38% ▼ -14.00%
• Median HH income: $51,559
• Composite: 27.13/100
• National rank: #7034
• State rank: #225 of 301 in IN

Livability — Rabbit Hash

• Score: 57/100
• State rank: #440
• US rank: #21776

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,408

Population outlook (Ohio County) Hauer SSP2

• Today (2025): 5,660 people
• By 2030: 5,409 · -4.4%
• By 2040: 4,718 · -16.6%
• By 2050: 3,978 · -29.7%
• By 2075: 2,798 · -50.6%
• By 2100: 2,129 · -62.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Ohio

• 2024 margin: Solid R (+55.5) · D 21.6% · R 77.0% · Other 1.4%
• 2008→2024 swing: -36.5pp toward R · 2008: -19.0pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+51.9 2016: R+49.1 2012: R+27.2 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.15%
• Current HPI: 215.0049
• 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

+23.1% since first listed

5 events — show timeline

• 2026-04-20 Pending — SEIBR
• 2025-06-18 Listed $159,900 SEIBR
• 2024-09-10 Sold (MLS) $84,000 SEIBR
• 2024-08-27 Pending — SEIBR
• 2024-08-19 Listed $129,900 SEIBR

Property tax history

+8.5%/yr

Latest (2024): $908 · +0.9% YoY. Source: county tax records.