21818 State Route 3 · Cannonsburg, KY 41168

$59,900

2 bd · 1.0 ba · 980 sqft · Other · 1 Days on market

Built 1974 16 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Appreciation +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Priced to Sell/Must See to Believe - Huge 28x64 metal garage with concrete floor, 14' tall garage door, lots of storage, plus electric (fluorescent ceiling lights do need replaced). Rear opens to private backyard where sellers report often seeing deer and other wildlife. Surrounded by wooded acreage that sellers say has never been timbered (total of 16+ acres included in sale). Also includes a 1974 mobile home (with central heat and air) that either needs repaired or removed. Located approximately five miles from Rush Off-Road, this extremely private setting probably won't last long, especially at this price. Sold AS-IS. No drive-by's please (cannot be seen from main road - private, private, private).

Key facts

• Metal garage
• Private backyard
• Central heat and air

Tags

• METAL GARAGE
• CONCRETE FLOOR
• GARAGE DOOR
• PRIVATE BACKYARD
• WOODED ACREAGE
• CENTRAL HEAT AND AIR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $60k).
• Cap rate 11.9% vs local median 3.3% in Cannonsburg — 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 69/100 on livability (#168 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Boyd County (suburban): math 20% / reading 37% proficiency, ranked #115 of 165 in KY (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ponderosa Elementary School (math 27% / reading 42%, grade F, #301 of 676 statewide, top 48%, 324 students, 54% FRL); Boyd County Middle School (math 18% / reading 39%, grade F, #161 of 217 statewide, top 75%, 620 students, 55% FRL); Boyd County High School (math 27% / reading 37%, grade F, #97 of 254 statewide, top 46%, 911 students, 52% FRL).
• Market conditions: 12 active listings in the ZIP; 2 units permitted in Boyd County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($74k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $316 of equity ($414 loan paydown + $-98 appreciation (-0.2% local appreciation)).
• Boyd County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.47% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.14%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.69×
• Total profit: $11,536
• Equity at exit: $16,907

10-year hold

• IRR: 19.3%
• Equity multiple: 3.10×
• Total profit: $35,242
• Equity at exit: $19,938

Cash invested: $16,772 (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 41168

• Home prices YoY: -0.1%
• Active inventory: 12
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $880 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $215

Break-even live

Break-even rent $608

Max offer price $59,900

Occupancy floor 71%

Sensitivity live

Price	-10% $256	-5% $236	+0% $215	+5% $194	+10% $174
Rent	-10% $145	-5% $180	+0% $215	+5% $250	+10% $285
Rate	-1.0pp $245	-0.5pp $230	base $215	+0.5pp $199	+1.0pp $184

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-08-08
   status Pending 711-char remark

   Show marketing remark (711 chars)

   Priced to Sell/Must See to Believe - Huge 28x64 metal garage with concrete floor, 14' tall garage door, lots of storage, plus electric (fluorescent ceiling lights do need replaced). Rear opens to private backyard where sellers report often seeing deer and other wildlife. Surrounded by wooded acreage that sellers say has never been timbered (total of 16+ acres included in sale). Also includes a 1974 mobile home (with central heat and air) that either needs repaired or removed. Located approximately five miles from Rush Off-Road, this extremely private setting probably won't last long, especially at this price. Sold AS-IS. No drive-by's please (cannot be seen from main road - private, private, private).

2. 2025-08-08
   status Pending

   Show marketing remark (711 chars)

   Priced to Sell/Must See to Believe - Huge 28x64 metal garage with concrete floor, 14' tall garage door, lots of storage, plus electric (fluorescent ceiling lights do need replaced). Rear opens to private backyard where sellers report often seeing deer and other wildlife. Surrounded by wooded acreage that sellers say has never been timbered (total of 16+ acres included in sale). Also includes a 1974 mobile home (with central heat and air) that either needs repaired or removed. Located approximately five miles from Rush Off-Road, this extremely private setting probably won't last long, especially at this price. Sold AS-IS. No drive-by's please (cannot be seen from main road - private, private, private).

3. 2025-08-07
   listed $59,900 Active 711-char remark

   Show marketing remark (711 chars)

   Priced to Sell/Must See to Believe - Huge 28x64 metal garage with concrete floor, 14' tall garage door, lots of storage, plus electric (fluorescent ceiling lights do need replaced). Rear opens to private backyard where sellers report often seeing deer and other wildlife. Surrounded by wooded acreage that sellers say has never been timbered (total of 16+ acres included in sale). Also includes a 1974 mobile home (with central heat and air) that either needs repaired or removed. Located approximately five miles from Rush Off-Road, this extremely private setting probably won't last long, especially at this price. Sold AS-IS. No drive-by's please (cannot be seen from main road - private, private, private).

4. 2025-08-07
   listed $59,900 Active

   Show marketing remark (711 chars)

   Priced to Sell/Must See to Believe - Huge 28x64 metal garage with concrete floor, 14' tall garage door, lots of storage, plus electric (fluorescent ceiling lights do need replaced). Rear opens to private backyard where sellers report often seeing deer and other wildlife. Surrounded by wooded acreage that sellers say has never been timbered (total of 16+ acres included in sale). Also includes a 1974 mobile home (with central heat and air) that either needs repaired or removed. Located approximately five miles from Rush Off-Road, this extremely private setting probably won't last long, especially at this price. Sold AS-IS. No drive-by's please (cannot be seen from main road - private, private, private).

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,563
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$1,097
• − Repairs & maintenance: −$845
• − Management: −$845
• − Depreciation: −$1,743
• Taxable income: $1,779
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $2,153/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: Boyd County
• NCES district ID: 2100620
• Math proficiency: 20% ▼ -18.00%
• Reading proficiency: 37% ▼ -17.00%
• Median HH income: $47,479
• Composite: 24.65/100
• National rank: #7625
• State rank: #115 of 165 in KY

Livability — Cannonsburg

• Score: 69/100
• State rank: #168
• US rank: #8480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Boyd · 3,640 people
• Metro: Huntington-Ashland, WV-KY-OH
• Population (ZIP): 3,640
• Household income: $73,894
• Rent vs Own: 9.0% rent · 91.0% own

Population outlook (Boyd County) Hauer SSP2

• Today (2025): 46,137 people
• By 2030: 44,585 · -3.4%
• By 2040: 41,442 · -10.2%
• By 2050: 38,313 · -17.0%
• By 2075: 31,077 · -32.6%
• By 2100: 23,432 · -49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 3% Iranian 2%

Political lean MEDSL · Boyd

• 2024 margin: Solid R (+38.5) · D 30.0% · R 68.6% · Other 1.4%
• 2008→2024 swing: -26.2pp toward R · 2008: -12.3pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+33.2 2016: R+37.0 2012: R+16.3 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.16%
• Current HPI: 245.0173
• 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

+0.0% since first listed

4 events — show timeline

• 2025-08-08 Pending — AABOR
• 2025-08-08 Pending — ImagineMLS
• 2025-08-07 Listed $59,900 ImagineMLS
• 2025-08-07 Listed $59,900 AABOR

Property tax history

+10.8%/yr

Latest (2025): $78 · -0.3% YoY. Source: county tax records.