314 East 4th Street St

Grayson, KY 41143

$89,900C+

4 bd · 2.0 ba · 840 sqft · Built 2000 · Manufactured · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $956/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $134/mo
• Annual: $1,611/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• 1% rule: 1.06%
• Cash to close: $25,172

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $90k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#161 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: amenities D+, commute F, employment 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.
• Market conditions: 62 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 4.6% in Grayson — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.