1270 Menix Rd Rd

Olive Hill, KY 41164

$149,000D

3 bd · 1.0 ba · 1,728 sqft · Built 1960 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,127/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $-139/mo
• Annual: $-1,674/yr
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• 1% rule: 0.76%
• Cash to close: $41,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (24.4% below list).
• It's been on market 45 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (24.4% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (1.0% local appreciation)).
• Location reads 70/100 on livability (#160 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, amenities F.
• Carter County (rural): math 27% / reading 43% proficiency, ranked #70 of 165 in KY (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carter City Elementary School (math 74% / reading 84%, grade A, #2 of 676 statewide, top 0%, 144 students, 65% FRL); East Carter Middle School (math 21% / reading 41%, grade F, #138 of 217 statewide, top 65%, 505 students, 62% FRL); West Carter County High School (math 27% / reading 37%, grade F, #97 of 254 statewide, top 46%, 522 students, 59% FRL).
• Zoned-school proficiency averages 48% at this address vs 35% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Carter County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 49 active listings in the ZIP; 1 units permitted in Carter County in 2024 (0 in 5+ unit buildings).
• Carter County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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.
• 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?
• 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.