286 Geneva Dr

Jamestown, KY 42642

$79,900B-

3 bd · 2.0 ba · 1,088 sqft · Built 2001 · Manufactured · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,526/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$320
• Net cashflow: $730/mo
• Annual: $8,756/yr
• Cap rate: 17.25%
• Cash-on-cash: 39.14%
• DSCR: 2.74
• 1% rule: 1.91%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 68 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#166 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Russell County (rural): math 29% / reading 43% proficiency, ranked #67 of 165 in KY (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 222 active listings in the ZIP.
• Russell County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $29k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $80k implies a 539% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 17.3% vs local median 1.9% in Jamestown — 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

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.