1488 Albright Mill Rd · Somerset, KY 42503

$169,000

3 bd · 2.0 ba · 1,792 sqft · Manufactured public records · 2 Days on market

Built 2005 2.00 ac lot

---

Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country charm awaits its new owner. This property offers two parcels, for a total of 2 unrestricted acres boasting a spacious 3 bedroom 2 bath home. The master bedroom features and additional room space that would be perfect for a private office space or a nursery off the master. Large master bath offers a soaker tub and separate shower space. All kitchen appliances convey, a storage building, a chicken coop area and a open shed area for gardening equipment. Property does have some partial fencing with one acre being fully fenced. Home does need some minor cosmetic improvements, but is very livable and ready for your love. Stop by today to see for yourself.

Key facts

• 2 unrestricted acres
• Private office space
• Two parcels

Tags

• TWO PARCELS
• 2 UNRESTRICTED ACRES
• PRIVATE OFFICE SPACE
• SOAKER TUB
• SEPARATE SHOWER SPACE
• STORAGE BUILDING

Property features AI

Finance

• Other: Approximately 2.0 acres lot

Exterior

• Utilities: Public water; Septic tank; Electricity connected; Water service connected
• Home design: Manufactured house; Shingle roof; Vinyl siding
• Construction: Pillar/post/pier foundation; Built with vinyl siding
• Exterior features: Shed(s); Other outbuilding; Partial chain link fencing; Few trees on the lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Cooktop; Oven
• Bedrooms: 2 total rooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Fireplace; Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $40 ($479/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (18.6% below list).
• Recommended offer: $138k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.1% in Somerset — 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 67/100 on livability (#208 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety B+, crime B; Watch: amenities F, commute F, employment F.
• Pulaski County (town): math 43% / reading 53% proficiency, ranked #17 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Elementary School (math 57% / reading 52%, grade C, #66 of 676 statewide, top 11%, 360 students, 66% FRL); Pulaski County High School (math 42% / reading 47%, grade F, #21 of 254 statewide, top 10%, 1,209 students, 57% FRL).
• Market conditions: 293 active listings in the ZIP; 117 units permitted in Pulaski County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

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

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,589 (18.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.81% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-24,899
• Equity at exit: $25,198

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-18,629
• Equity at exit: $14,612

Cash invested: $47,320 (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 42503

• Home prices YoY: -8.4%
• Active inventory: 293
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,376 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$90 /mo · $1,085/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $40

Break-even live

Break-even rent $1,325

Max offer price $169,000

Occupancy floor 92%

Sensitivity live

Price	-10% $136	-5% $88	+0% $40	+5% $-8	+10% $-56
Rent	-10% $-69	-5% $-14	+0% $40	+5% $94	+10% $149
Rate	-1.0pp $125	-0.5pp $83	base $40	+0.5pp $-4	+1.0pp $-48

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-23
   status Pending
2. 2026-05-20
   listed $169,000 Active
3. 2024-07-01
   soldstatus $159,000
4. 2024-05-22
   soldstatus $110,000

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

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $1,085 · $90/mo
• Projected year-2 tax: $1,453 · $121/mo
• Expected delta: +$369/yr (+$31/mo · 34.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $16,511
• − Mortgage interest: −$9,467
• − Property taxes: −$1,085
• − Insurance: −$845
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$4,916
• Taxable loss: −$2,444
• Est. tax savings @ 24.0%: +$587
• After-tax cash flow: $1,065/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: Pulaski County
• NCES district ID: 2104950
• Math proficiency: 43% ▼ -18.00%
• Reading proficiency: 53% ▼ -13.00%
• Median HH income: $35,366
• Composite: 39.69/100
• National rank: #3906
• State rank: #17 of 165 in KY

Livability — Somerset

• Score: 67/100
• State rank: #208
• US rank: #10207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 25,638

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 65,414 people
• By 2030: 65,828 · +0.6%
• By 2040: 65,972 · +0.9%
• By 2050: 65,108 · -0.5%
• By 2075: 61,647 · -5.8%
• By 2100: 53,613 · -18.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+65.2) · D 16.9% · R 82.1% · Other 1.0%
• 2008→2024 swing: -9.9pp toward R · 2008: -55.4pp · 2024: -65.2pp
• All cycles: 2024: R+65.2 2020: R+62.7 2016: R+66.7 2012: R+60.5 2008: R+55.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -27.16%
• Current HPI: 294.5958
• 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

+53.6% since first listed

4 events — show timeline

• 2026-05-23 Pending — ImagineMLS
• 2026-05-20 Listed $169,000 ImagineMLS
• 2024-07-01 Sold (Public Records) $159,000 Public Records
• 2024-05-22 Sold (Public Records) $110,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,085 · +974.0% YoY. Source: county tax records.