181 Buskirk Dr

Paintsville, KY 41260

$142,500D

3 bd · 1.0 ba · 1,364 sqft · Built 1976 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$747
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $4/mo
• Annual: $45/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• 1% rule: 0.77%
• Cash to close: $39,900

Investor read

• This is a 3-bed/1.0-bath single-family listed at $142k.
• At list price, monthly cash flow is $4 ($45/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 $110k (22.7% below list).
• It's been on market 38 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (22.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#117 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Johnson County (rural): math 23% / reading 39% proficiency, ranked #103 of 165 in KY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 17% / reading 27%, grade F, #525 of 676 statewide, top 82%, 338 students, 69% FRL); Johnson County Middle School (math 25% / reading 49%, grade F, #80 of 217 statewide, top 41%, 475 students, 61% FRL); Johnson Central High School (math 20% / reading 25%, grade F, #200 of 254 statewide, top 79%, 955 students, 61% FRL).
• Market conditions: 4 active listings in the ZIP.
• Johnson County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y 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.
• Current owner paid $70k; list at $142k implies a 104% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 3.2% in Paintsville — 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

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.