2591 Kentucky 8

Vanceburg, KY 41179

$117,000C+

3 bd · 2.0 ba · 1,512 sqft · Built 2004 · Other · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,185/mo
• Mortgage (P&I): −$614
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $240/mo
• Annual: $2,876/yr
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• 1% rule: 1.01%
• Cash to close: $32,760

Investor read

• This is a 3-bed/2.0-bath other listed at $117k.
• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $117k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($809 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#180 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Lewis County (rural): math 27% / reading 39% proficiency, ranked #94 of 165 in KY (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lewis County Middle School (math 29% / reading 46%, grade F, #73 of 217 statewide, top 36%, 299 students, 78% FRL); Lewis County High School (math 27% / reading 47%, grade F, #58 of 254 statewide, top 27%, 621 students, 76% FRL).
• Market conditions: 39 active listings in the ZIP; lower-income renter base — watch delinquency.
• Lewis County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 38% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

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