2174 Lambert Rd · Berea, KY 40403

$119,000

3 bd · 2.0 ba · 1,120 sqft · Other · 4 Days on market

Built 2000 0.69 ac lot

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Why this score? — see what drove the C+ 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).

• Cash flow +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely furnished mobile home just minutes from Berea but great country living. Great condition, country setting can buy furnished or unfurnished!!!

Key facts

• 0.69 acre lot
• Built 2000
• Listed 3 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Septic tank; Electricity connected
• Home design: Manufactured home; One story
• Construction: Aluminum siding; Metal roof; Block foundation; Built area approximately 1,120
• Exterior features: Shed(s); Few trees on the lot; Public water

Interior

• Kitchen: Range; Refrigerator; Eat-in kitchen
• Bedrooms: Total rooms: 8
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heat; Heat pump for heating and cooling
• Interior features: Eat-in kitchen; In-law floorplan; Primary bedroom on the first floor; Ceiling fans; Soaking tub
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 9.7% vs local median 3.0% in Berea — 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 75/100 on livability (#104 in KY, #4,354 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Rockcastle County (rural): math 23% / reading 40% proficiency, ranked #102 of 165 in KY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roundstone Elementary School (math 42% / reading 47%, grade F, #148 of 676 statewide, top 24%, 247 students, 71% FRL); Rockcastle County Middle School (math 20% / reading 43%, grade F, #125 of 217 statewide, top 63%, 578 students, 63% FRL); Rockcastle County High School (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 819 students, 64% FRL).
• Market conditions: 205 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rockcastle County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $42k; list at $119k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.10% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $2,210
• Equity at exit: $17,743

10-year hold

• IRR: 11.3%
• Equity multiple: 1.88×
• Total profit: $29,443
• Equity at exit: $10,289

Cash invested: $33,320 (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 40403

• Home prices YoY: -15.7%
• Active inventory: 205
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$24 /mo · $285/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $338

Break-even live

Break-even rent $883

Max offer price $119,000

Occupancy floor 69%

Sensitivity live

Price	-10% $406	-5% $372	+0% $338	+5% $305	+10% $271
Rent	-10% $235	-5% $287	+0% $338	+5% $390	+10% $442
Rate	-1.0pp $398	-0.5pp $369	base $338	+0.5pp $308	+1.0pp $276

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-19
   days on market $119,000 Active 4 DOM
2. 2026-06-18
   days on market $119,000 Active 3 DOM
3. 2026-06-17
   days on market $119,000 Active 2 DOM
4. 2026-06-15
   remarks 117-char remark
5. 2026-06-15
   listed $119,000 Active 1 DOM

ⓘ 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: $285 · $24/mo
• Projected year-2 tax: $1,023 · $85/mo
• Expected delta: +$739/yr (+$62/mo · 259.3%)

ⓘ 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 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $15,733
• − Mortgage interest: −$6,666
• − Property taxes: −$285
• − Insurance: −$595
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$3,462
• Taxable income: $2,208
• Est. tax owed @ 24.0%: −$530
• After-tax cash flow: $3,530/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: Rockcastle County
• NCES district ID: 2105070
• Math proficiency: 23% ▼ -21.00%
• Reading proficiency: 40% ▼ -18.00%
• Median HH income: $30,809
• Composite: 25.55/100
• National rank: #7430
• State rank: #102 of 165 in KY

Livability — Berea

• Score: 75/100
• State rank: #104
• US rank: #4354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Madison County · 93,568 people
• City population: 27,607
• Metro: Richmond-Berea, KY
• Population (ZIP): 27,607
• Household income: $61,771
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 685.0

Population outlook (Rockcastle County) Hauer SSP2

• Today (2025): 17,003 people
• By 2030: 16,913 · -0.5%
• By 2040: 16,504 · -2.9%
• By 2050: 15,697 · -7.7%
• By 2075: 13,724 · -19.3%
• By 2100: 11,369 · -33.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Rockcastle

• 2024 margin: Solid R (+73.1) · D 12.8% · R 85.9% · Other 1.3%
• 2008→2024 swing: -19.8pp toward R · 2008: -53.4pp · 2024: -73.1pp
• All cycles: 2024: R+73.1 2020: R+69.9 2016: R+70.2 2012: R+63.2 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.22%
• Current HPI: 286.6948
• Rent YoY: —
• Metro: Richmond-Berea, KY
• 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

+142.9% since first listed

5 events — show timeline

• 2026-06-15 Listed $119,000 ImagineMLS
• 2019-01-22 Listing Removed — ImagineMLS
• 2018-08-14 Sold (MLS) $42,500 ImagineMLS
• 2018-03-06 Listed $49,000 ImagineMLS
• 2018-03-06 Listed $49,000 ImagineMLS

Property tax history

-0.1%/yr

Latest (2025): $285 · -0.6% YoY. Source: county tax records.