483 Kentucky 70

Eubank, KY 42567

$179,900D+

2 bd · 2.0 ba · 888 sqft · Built 2021 · Other · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,423/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$299
• Net cashflow: $28/mo
• Annual: $330/yr
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• 1% rule: 0.79%
• Cash to close: $50,372

Investor read

• This is a 2-bed/2.0-bath other listed at $180k.
• At list price, monthly cash flow is $28 ($330/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 $142k (20.9% below list).
• It's been on market 30 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $142k (20.9% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.3% local appreciation)).
• Location reads 65/100 on livability (#262 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Pulaski County (town): math 43% / reading 53% proficiency, ranked #17 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eubank Elementary School (math 27% / reading 47%, grade F, #255 of 676 statewide, top 42%, 368 students, 83% FRL); Pulaski County High School (math 42% / reading 47%, grade F, #21 of 254 statewide, top 10%, 1,209 students, 57% FRL).
• Market conditions: 37 active listings in the ZIP; 117 units permitted in Pulaski County in 2024 (50 in 5+ unit buildings).
• At projected returns (2.3% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.5% vs local median 4.8% in Eubank — 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.
• 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.