413 Cook St

Greensburg, KY 42743

$58,000B

1 bd · 1.0 ba · 552 sqft · Built 1965 · Other · Active · 433 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $770/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$162
• Net cashflow: $207/mo
• Annual: $2,486/yr
• Cap rate: 10.58%
• Cash-on-cash: 15.31%
• DSCR: 1.68
• 1% rule: 1.33%
• Cash to close: $16,240

Investor read

• This is a 1-bed/1.0-bath other listed at $58k.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($770 rent vs $58k).
• It's been on market 433 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($401 loan paydown + $3k appreciation (5.0% local appreciation)).
• Location reads 71/100 on livability (#146 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Green County (rural): math 39% / reading 43% proficiency, ranked #30 of 165 in KY (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Green County Primary School (448 students, 64% FRL); Green County Middle School (math 39% / reading 47%, grade D-, #43 of 217 statewide, top 21%, 377 students, 63% FRL); Green County High School (math 32% / reading 42%, grade F, #58 of 254 statewide, top 27%, 466 students, 58% FRL).
• Market conditions: 56 active listings in the ZIP; 3 units permitted in Green County in 2024 (0 in 5+ unit buildings).
• Green County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $14k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 433 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.