928 Nepton Rd · Elizaville, KY 41039

$42,000

3 bd · 1.0 ba · 1,647 sqft · SingleFamily public records · 28 Days on market

0.69 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.0/5.0

Listing remarks

Calling all contractors and visionary buyers! Sellers are open to seller financing, making this the perfect project to preserve your cash for renovations. This 3-bed, 1-bath home is a complete rehab project situated on a huge lot. Features a substantial barn and active electric service already in place. The home requires major repairs. Sold strictly AS-IS. Exceptional potential to transform this property into a stunning home with plenty of land to spare. Schedule your preview today!

Key facts

• Huge lot
• Substantial barn
• 0.69 acre lot

Tags

• HUGE LOT
• SUBSTANTIAL BARN
• ACTIVE ELECTRIC SERVICE

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Existing structure
• Construction: Stone foundation
• Exterior features: Metal roof; Fruit trees on the property; County road frontage; Irregular lot dimensions

Interior

• Kitchen: Kitchen (appliances not listed)
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Den
• Bathrooms: 1 full bathroom; Primary bath
• Interior features: Brick fireplace; Has view

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 40/100 on livability (#535 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Fleming County (rural): math 26% / reading 41% proficiency, ranked #83 of 165 in KY (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Simons Middle School (math 26% / reading 43%, grade F, #99 of 217 statewide, top 47%, 325 students, 65% FRL).
• Market conditions: 13 active listings in the ZIP; 2 units permitted in Fleming County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($290 loan paydown + $1k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $11k; list at $42k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,370 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.85% ✓
• Cap rate: 26.02%
• Cash-on-cash: 70.45%
• DSCR: 4.13
• GRM: 2.9

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: 69.6%
• Equity multiple: 4.87×
• Total profit: $45,523
• Equity at exit: $18,885

10-year hold

• IRR: 69.1%
• Equity multiple: 9.97×
• Total profit: $105,439
• Equity at exit: $29,104

Cash invested: $11,760 (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 41039

• Active inventory: 13
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$220
• Tax from tax record: −$16 /mo · $194/yr
• Insurance: −$18
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $635

Break-even live

Break-even rent $392

Max offer price $42,000

Occupancy floor 42%

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $42,000 Active 28 DOM
2. 2026-06-17
   days on market $42,000 Active 27 DOM
3. 2026-06-16
   days on market $42,000 Active 26 DOM
4. 2026-06-15
   days on market $42,000 Active 25 DOM
5. 2026-06-14
   days on market $42,000 Active 23 DOM
6. 2026-06-13
   days on market $42,000 Active 22 DOM
7. 2026-06-10
   days on market $42,000 Active 20 DOM
8. 2026-06-09
   days on market $42,000 Active 19 DOM
9. 2026-06-08
   days on market $42,000 Active 18 DOM
10. 2026-06-07
    days on market $42,000 Active 17 DOM
11. 2026-06-03
    days on market $42,000 Active 13 DOM
12. 2026-06-02
    days on market $42,000 Active 12 DOM
13. 2026-06-01
    days on market $42,000 Active 11 DOM
14. 2026-05-31
    days on market $42,000 Active 10 DOM
15. 2026-05-31
    days on market $42,000 Active 9 DOM
16. 2026-05-21
    listed $42,000 Active
17. 1992-02-01
    soldstatus $10,900

ⓘ 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: $194 · $16/mo
• Projected year-2 tax: $361 · $30/mo
• Expected delta: +$167/yr (+$14/mo · 86.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,344
• − Mortgage interest: −$2,353
• − Property taxes: −$194
• − Insurance: −$876
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$1,222
• Taxable income: $7,404
• Est. tax owed @ 24.0%: −$1,777
• After-tax cash flow: $5,841/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: Fleming County
• NCES district ID: 2101920
• Math proficiency: 26% ▼ -29.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $34,964
• Composite: 27.61/100
• National rank: #6928
• State rank: #83 of 165 in KY

Livability — Elizaville

• Score: 40/100
• State rank: #535
• US rank: #27306

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,122

Population outlook (Fleming County) Hauer SSP2

• Today (2025): 14,917 people
• By 2030: 14,997 · +0.5%
• By 2040: 15,033 · +0.8%
• By 2050: 14,808 · -0.7%
• By 2075: 14,037 · -5.9%
• By 2100: 12,176 · -18.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Black 2%
• Common ancestry: Portuguese 1% Slovak 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Fleming

• 2024 margin: Solid R (+60.6) · D 19.1% · R 79.7% · Other 1.3%
• 2008→2024 swing: -40.9pp toward R · 2008: -19.8pp · 2024: -60.6pp
• All cycles: 2024: R+60.6 2020: R+57.5 2016: R+54.0 2012: R+32.3 2008: R+19.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+285.3% since first listed

2 events — show timeline

• 2026-05-21 Listed $42,000 NKMLS
• 1992-02-01 Sold (Public Records) $10,900 Public Records