2252 Southeastern Pkwy

Owensboro, KY 42303

$199,000D+

3 bd · 2.0 ba · 1,710 sqft · Built 1979 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,586/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$333
• Net cashflow: $-5/mo
• Annual: $-65/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• 1% rule: 0.80%
• Cash to close: $55,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $-5 ($-65/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (20.3% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $159k (20.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#148 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime D-, amenities F.
• Daviess County (suburban): math 33% / reading 41% proficiency, ranked #43 of 165 in KY (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Highland Elementary School (math 50% / reading 51%, grade D+, #95 of 676 statewide, top 14%, 474 students, 44% FRL); Daviess County Middle School (math 38% / reading 53%, grade D+, #32 of 217 statewide, top 15%, 813 students, 55% FRL); Daviess County High School (math 40% / reading 41%, grade F, #37 of 254 statewide, top 15%, 1,740 students, 42% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 366 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• Cap rate 6.3% vs local median 3.1% in Owensboro — 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.

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?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.