104 Sunny View Rd

Doe Valley, KY 40108

$195,000D-

2 bd · 2.0 ba · 2,613 sqft · Built 1979 · Other · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,472/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$325
• HOA: −$16
• Vac / Maint / Mgmt: −$309
• Net cashflow: $-201/mo
• Annual: $-2,413/yr
• Cap rate: 5.06%
• Cash-on-cash: -4.42%
• DSCR: 0.80
• 1% rule: 0.75%
• Cash to close: $54,600

Investor read

• This is a 2-bed/2.0-bath other listed at $195k.
• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (14.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (24.5% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $147k (24.5% 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 69/100 on livability (#169 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, amenities F, commute F.
• Meade County (rural): math 41% / reading 48% proficiency, ranked #21 of 165 in KY (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 173 active listings in the ZIP; 124 units permitted in Meade County in 2024 (0 in 5+ unit buildings).
• Meade County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.1% vs local median 2.8% in Doe Valley — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.