102 W 2nd Ave

South Shore, KY 41175

$99,000C

3 bd · 2.0 ba · 728 sqft · Built 2013 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $947/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $145/mo
• Annual: $1,737/yr
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• 1% rule: 0.96%
• Cash to close: $27,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $145 ($2k/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 $95k (4.4% below list).
• It's been on market 31 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (4.4% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($684 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 76/100 on livability (#89 in KY, #3,524 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute D+, schools D, amenities F.
• Greenup County (suburban): math 23% / reading 35% proficiency, ranked #118 of 165 in KY (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 20 units permitted in Greenup County in 2024 (0 in 5+ unit buildings).
• Greenup County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y 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.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.