103 Springfield Rd

Bloomfield, KY 40008

$149,000D+

5 bd · 2.0 ba · 2,160 sqft · Built 1948 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,452/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$339
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $27/mo
• Annual: $319/yr
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• 1% rule: 0.97%
• Cash to close: $41,720

Investor read

• This is a 5-bed/2.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $27 ($319/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 $145k (2.6% below list).
• It's been on market 23 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (2.6% 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 $4k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#209 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Nelson County (rural): math 23% / reading 36% proficiency, ranked #97 of 165 in KY (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bloomfield Elementary School (math 32% / reading 27%, grade F, #393 of 676 statewide, top 63%, 250 students, 59% FRL); Bloomfield Middle School (math 24% / reading 39%, grade F, #125 of 217 statewide, top 63%, 352 students, 40% FRL); Nelson County High School (math 22% / reading 37%, grade F, #127 of 254 statewide, top 58%, 784 students, 42% FRL) — zoned schools at 47% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 210 units permitted in Nelson County in 2024 (15 in 5+ unit buildings).
• Nelson County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 13y ago 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.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.