803 Knollwood Dr

Taylor Mill, KY 41015

$278,900C

4 bd · 1.5 ba · 1,842 sqft · Built 1962 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,495/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$286
• HOA: −$0
• Vac / Maint / Mgmt: −$524
• Net cashflow: $222/mo
• Annual: $2,666/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• 1% rule: 0.89%
• Cash to close: $78,092

Investor read

• This is a 4-bed/1.5-bath single-family listed at $279k.
• At list price, monthly cash flow is $222 ($3k/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 $250k (10.5% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $250k (10.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#63 in KY, #1,246 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F.
• Kenton County (suburban): math 42% / reading 48% proficiency, ranked #14 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Taylor Mill Elementary School (math 52% / reading 47%, grade D, #100 of 676 statewide, top 16%, 492 students, 48% FRL); Woodland Middle School (math 38% / reading 50%, grade D, #40 of 217 statewide, top 19%, 616 students, 48% FRL); Scott High School (math 33% / reading 33%, grade F, #94 of 254 statewide, top 37%, 1,071 students, 42% FRL).
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• Kenton County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 19y 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 $160k; list at $279k implies a 75% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1962 — 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.
• 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.