315 Barricks Rd · Hillview, KY 40229

$48,000

3 bd · 2.0 ba · 925 sqft · SingleFamily public records · 37 Days on market

Built 2017

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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
• Rent growth +3.9/5.0
• Livability +3.3/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3 bedroom, 2 bath modular home located in the desirable Whispering Oaks Park. This spacious home offers flexible living with the option to remain in the park or be moved to another location. Conveniently situated on a leased lot with lot rent that includes water, sewer, trash, cable & internet. Buyers & buyers agents to verify all information, including lot rent, square footage and park requirements. For additional details regarding the park, contact Whispering Oaks Park at 502.955.9099 Don't miss this affordable opportunity in Louisville.

Key facts

• Built 2017
• Listed 37 days

Property features AI

Finance

• Other: Directions: use GPS
• Financial info: No financial details provided
• HOA & community: Subdivision: Whispering Oaks

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water
• Home design: Mobile home (residential); Single-family style
• Construction: Vinyl siding; Shingle roof
• Exterior features: Deck; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range / oven; Refrigerator
• Bedrooms: Main-level bedrooms (number not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 2 main-level bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s)
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $894 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 3.8% in Hillview — 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.

Location & tenants

• Location reads 66/100 on livability (#235 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Brooks Elementary School (math 22% / reading 37%, grade F, #393 of 676 statewide, top 63%, 460 students, 77% FRL); Hebron Middle School (math 30% / reading 47%, grade F, #68 of 217 statewide, top 32%, 536 students, 52% FRL); North Bullitt High School (math 30% / reading 28%, grade F, #150 of 254 statewide, top 59%, 1,148 students, 50% FRL) — zoned schools average 60% FRL vs 41% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.5%/yr); 243 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Bullitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $46,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 3.24% ✓
• Cap rate: 28.65%
• Cash-on-cash: 79.83%
• DSCR: 4.55
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $205,350
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 Hillside Ln	0.02mi	3/1.0	925 (0%)	3mo	$185,000	$200	93
202 Hillside Ln	0.05mi	3/1.0	925 (0%)	2mo	$174,000	$188	92
158 Hillside Ln	0.01mi	3/1.0	925 (0%)	6mo	$199,900	$216	90
384 Glenview Rd	0.20mi	3/1.0	900 (-3%)	2mo	$230,000	$256	81
163 Blossom Rd	0.42mi	3/1.0	925 (0%)	3mo	$240,000	$259	74
208 Blossom Rd	0.37mi	3/1.0	900 (-3%)	1mo	$200,000	$222	73
532 S Steedland Dr	0.55mi	3/1.0	900 (-3%)	1mo	$232,000	$258	65
194 Norwood Way Way	0.64mi	3/1.0	925 (0%)	6mo	$220,000	$238	61
335 Dale Rd	0.57mi	3/1.0	980 (+6%)	4mo	$184,000	$188	56
12437 Kingsley Dr	0.61mi	3/2.0	1,014 (+10%)	1mo	$230,000	$227	54
3713 Arcadia Ct	0.57mi	3/1.0	1,025 (+11%)	1mo	$225,000	$220	51
261 Bigwood Way	0.75mi	3/1.5	1,050 (+14%)	2mo	$231,000	$220	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 82.8%
• Equity multiple: 4.95×
• Total profit: $53,139
• Equity at exit: $7,157

10-year hold

• IRR: 86.7%
• Equity multiple: 11.17×
• Total profit: $136,725
• Equity at exit: $4,150

Cash invested: $13,440 (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 40229

• Rents YoY: 5.5%
• Active inventory: 243
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$63 /mo · $752/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $894

Break-even live

Break-even rent $423

Max offer price $48,000

Occupancy floor 38%

Sensitivity live

Price	-10% $921	-5% $908	+0% $894	+5% $881	+10% $867
Rent	-10% $771	-5% $833	+0% $894	+5% $956	+10% $1,017
Rate	-1.0pp $918	-0.5pp $906	base $894	+0.5pp $882	+1.0pp $869

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12426 Somerset Dr Louisville, KY	3.0	2.0	1053	$1,795	$1.70	24d	1	0.50mi
184 Cannon Ct Unit 2 Louisville, KY	2.0	1.5	975	$1,000	$1.03	11d	1	0.75mi
12050 Morningside Dr Unit 12050 Morningside Louisville, KY	2.0	1.5	1040	$1,295	$1.25	2d	1	0.80mi
365 Prairie Dr Unit 5 Louisville, KY	2.0	1.5	975	$1,250	$1.28	24d	1	0.81mi

Listing history 15 events

1. 2026-06-18
   days on market $48,000 Active 37 DOM
2. 2026-06-17
   days on market $48,000 Active 36 DOM
3. 2026-06-16
   days on market $48,000 Active 35 DOM
4. 2026-06-15
   days on market $48,000 Active 34 DOM
5. 2026-06-13
   days on market $48,000 Active 32 DOM
6. 2026-06-10
   days on market $48,000 Active 29 DOM
7. 2026-06-09
   days on market $48,000 Active 28 DOM
8. 2026-06-08
   days on market $48,000 Active 27 DOM
9. 2026-06-07
   days on market $48,000 Active 26 DOM
10. 2026-06-03
    days on market $48,000 Active 22 DOM
11. 2026-06-02
    days on market $48,000 Active 21 DOM
12. 2026-06-01
    days on market $48,000 Active 20 DOM
13. 2026-05-31
    days on market $48,000 Active 19 DOM
14. 2026-05-11
    listed $48,000 Active
15. 2025-12-18
    soldstatus $199,900

ⓘ 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: $752 · $63/mo
• Projected year-2 tax: $752 · $63/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,661
• − Mortgage interest: −$2,689
• − Property taxes: −$752
• − Insurance: −$240
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$1,396
• Taxable income: $10,598
• Est. tax owed @ 24.0%: −$2,544
• After-tax cash flow: $8,186/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: Bullitt County
• NCES district ID: 2100750
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 41% ▼ -14.00%
• Median HH income: $55,009
• Composite: 30.78/100
• National rank: #6151
• State rank: #55 of 165 in KY

Livability — Hillview

• Score: 66/100
• State rank: #235
• US rank: #11507

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillview, KY
• County: Jefferson County · 790,184 people
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 41,299
• Household income: $79,936
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 628.0

Population outlook (Bullitt County) Hauer SSP2

• Today (2025): 89,555 people
• By 2030: 94,389 · +5.4%
• By 2040: 102,759 · +14.7%
• By 2050: 108,955 · +21.7%
• By 2075: 121,898 · +36.1%
• By 2100: 126,383 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Hispanic / Latino 12% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 3% Cuban 6%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Bullitt

• 2024 margin: Solid R (+51.0) · D 23.8% · R 74.8% · Other 1.4%
• 2008→2024 swing: -18.7pp toward R · 2008: -32.3pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+48.0 2016: R+49.8 2012: R+35.7 2008: R+32.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -148.38%
• Current HPI: 244.2747
• Rent YoY: ▲ 5.46%
• Metro: Louisville/Jefferson County, KY-IN
• 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

-76.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $48,000 SCKMLSKY
• 2025-12-18 Sold (Public Records) $199,900 Public Records

Property tax history

-3.0%/yr

Latest (2025): $752 · -5.6% YoY. Source: county tax records.