6716 Ky-490 · East Bernstadt, KY 40729

$39,900

3 bd · 1.0 ba · 2,046 sqft · SingleFamily public records · 161 Days on market

Built 1910 0.54 ac lot

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Why this score? — see what drove the F 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).

• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Cash flow +3.5/30.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Two-bedroom, one-bath home built in 1910, located on approximately 0.54 acres in East Bernstadt, Kentucky. The property has the character of an older country home and offers a simple layout. The lot provides just over half an acre with a rural setting. Property is being sold as is, with no repairs or warranties expressed or implied. This property is now active in an online auction. All offers must be submitted through the property's listing page on www.auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

Key facts

• 0.54 acre lot
• Built 1910
• Listed 160 days

🔨 Auction listing. The $39,900 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $232,560 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $-698 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 2.7% vs local median 1.9% in East Bernstadt — 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.

Location & tenants

• Location reads 58/100 on livability (#432 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools C-, amenities F, commute F.
• Laurel County (town): math 51% / reading 56% proficiency, ranked #8 of 165 in KY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 active listings in the ZIP; 16 units permitted in Laurel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($2k loan paydown + $18k appreciation (7.8% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 8.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.49% ✗
• Cap rate: 2.69%
• Cash-on-cash: -12.87%
• DSCR: 0.43
• GRM: 16.8

CMA / ARV

• ARV (median comp): $232,560
• List price: $39,900
• Delta: -82.84%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

7.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.75×
• Total profit: $48,660
• Equity at exit: $173,817

10-year hold

• IRR: 11.1%
• Equity multiple: 3.67×
• Total profit: $174,182
• Equity at exit: $342,327

Cash invested: $65,117 (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 40729

• Home prices YoY: 2.1%
• Active inventory: 142
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$1,220
• Tax est. 1.5%: −$291 /mo · $3,488/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-698

Break-even live

Break-even rent $2,034

Max offer price $155,670

Occupancy floor —

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: $58,140
• Closing costs: $6,977
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $39,900 Active 161 DOM
2. 2026-06-17
   days on market $39,900 Active 160 DOM
3. 2026-06-16
   days on market $39,900 Active 159 DOM
4. 2026-06-15
   days on market $39,900 Active 158 DOM
5. 2026-06-13
   days on market $39,900 Active 156 DOM
6. 2026-06-12
   days on market $39,900 Active 155 DOM
7. 2026-06-09
   days on market $39,900 Active 152 DOM
8. 2026-06-08
   days on market $39,900 Active 151 DOM
9. 2026-06-07
   days on market $39,900 Active 150 DOM
10. 2026-06-07
    days on market $39,900 Active 149 DOM
11. 2026-06-04
    days on market $39,900 Active 146 DOM
12. 2026-06-02
    days on market $39,900 Active 145 DOM
13. 2026-06-01
    days on market $39,900 Active 144 DOM
14. 2026-05-31
    days on market $39,900 Active 143 DOM
15. 2026-05-31
    days on market $39,900 Active 142 DOM
16. 2026-04-29
    price $39,900 649-char remark

    Show marketing remark (649 chars)

    Two-bedroom, one-bath home built in 1910, located on approximately 0.54 acres in East Bernstadt, Kentucky. The property has the character of an older country home and offers a simple layout. The lot provides just over half an acre with a rural setting. Property is being sold as is, with no repairs or warranties expressed or implied. This property is now active in an online auction. All offers must be submitted through the property's listing page on www.auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

17. 2026-03-31
    price $49,900 649-char remark

    Show marketing remark (649 chars)

    Two-bedroom, one-bath home built in 1910, located on approximately 0.54 acres in East Bernstadt, Kentucky. The property has the character of an older country home and offers a simple layout. The lot provides just over half an acre with a rural setting. Property is being sold as is, with no repairs or warranties expressed or implied. This property is now active in an online auction. All offers must be submitted through the property's listing page on www.auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

18. 2026-01-08
    listed $59,900 Active 649-char remark

    Show marketing remark (649 chars)

    Two-bedroom, one-bath home built in 1910, located on approximately 0.54 acres in East Bernstadt, Kentucky. The property has the character of an older country home and offers a simple layout. The lot provides just over half an acre with a rural setting. Property is being sold as is, with no repairs or warranties expressed or implied. This property is now active in an online auction. All offers must be submitted through the property's listing page on www.auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

19. 2025-09-16
    historical
20. 2025-09-02
    price $106,000
21. 2025-08-18
    price $136,700
22. 2025-07-31
    listed $196,100 Active

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $343 · $29/mo
• Expected delta: +$9/yr (+$1/mo · 2.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,808
• − Mortgage interest: −$13,027
• − Property taxes: −$3,488
• − Insurance: −$1,163
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$6,765
• Taxable loss: −$12,845
• Est. tax savings @ 24.0%: +$3,083
• After-tax cash flow: $-5,295/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: Laurel County
• NCES district ID: 2103210
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $36,577
• Composite: 44.39/100
• National rank: #2814
• State rank: #8 of 165 in KY

Livability — East Bernstadt

• Score: 58/100
• State rank: #432
• US rank: #21210

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,090

Population outlook (Laurel County) Hauer SSP2

• Today (2025): 62,602 people
• By 2030: 63,310 · +1.1%
• By 2040: 63,706 · +1.8%
• By 2050: 62,705 · +0.2%
• By 2075: 58,574 · -6.4%
• By 2100: 50,888 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Laurel

• 2024 margin: Solid R (+69.9) · D 14.5% · R 84.3% · Other 1.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -58.0pp · 2024: -69.9pp
• All cycles: 2024: R+69.9 2020: R+66.7 2016: R+69.1 2012: R+63.6 2008: R+58.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.82%
• Current HPI: 385.9996
• 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

-79.7% since first listed

7 events — show timeline

• 2026-04-29 Price Changed $39,900 ImagineMLS
• 2026-03-31 Price Changed $49,900 ImagineMLS
• 2026-01-08 Listed $59,900 ImagineMLS
• 2025-09-16 Listing Removed — ImagineMLS
• 2025-09-02 Price Changed $106,000 ImagineMLS
• 2025-08-18 Price Changed $136,700 ImagineMLS
• 2025-07-31 Listed $196,100 ImagineMLS

Property tax history

+14.3%/yr

Latest (2025): $334 · -5.2% YoY. Source: county tax records.