832 Irma Rd · Salem, KY 42078

$86,000

3 bd · 2.0 ba · 1,080 sqft · Other public records · 18 Days on market

Built 1998 0.60 ac lot

---

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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.8/10.0

Key facts

• 0.6 acre lot
• Parking
• Built 1998

Property features AI

Exterior

• Parking: Carport (1 space)
• Home design: Manufactured home; Residential property
• Exterior features: 0.6-acre lot; Directions: From Main Street in Salem, turn on KY-723 South. Continue for 2-3 miles and the property is on the left.

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Central air conditioning; Electric heating

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $86k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($945 rent vs $86k).
• Recommended offer: $85k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#396 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• Livingston County (rural): math 27% / reading 39% proficiency, ranked #80 of 165 in KY (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Livingston Elementary School (math 17% / reading 37%, grade F, #434 of 676 statewide, top 69%, 130 students, 64% FRL); Livingston County Middle School (math 32% / reading 43%, grade F, #73 of 217 statewide, top 36%, 252 students, 60% FRL); Livingston Central High School (math 22% / reading 37%, grade F, #127 of 254 statewide, top 58%, 329 students, 47% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Livingston County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,710 (1.5% below list)

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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 9.43%
• Cash-on-cash: 11.20%
• DSCR: 1.50
• 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: 0.4%
• Equity multiple: 1.01×
• Total profit: $354
• Equity at exit: $12,823

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $18,624
• Equity at exit: $7,436

Cash invested: $24,080 (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 42078

• Home prices YoY: -4.8%
• Active inventory: 7
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $945 medium
• Mortgage (P&I): −$451
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $225

Break-even live

Break-even rent $660

Max offer price $86,000

Occupancy floor 71%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   days on market $86,000 Active 18 DOM
2. 2026-06-08
   days on market $86,000 Active 17 DOM
3. 2026-06-07
   days on market $86,000 Active 16 DOM
4. 2026-06-05
   days on market $86,000 Active 14 DOM
5. 2026-06-04
   days on market $86,000 Active 12 DOM
6. 2026-06-02
   days on market $86,000 Active 11 DOM
7. 2026-06-01
   days on market $86,000 Active 10 DOM
8. 2026-05-31
   days on market $86,000 Active 9 DOM
9. 2026-05-31
   days on market $86,000 Active 8 DOM
10. 2026-05-22
    listed $86,000 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: $416 · $35/mo
• Projected year-2 tax: $740 · $62/mo
• Expected delta: +$324/yr (+$27/mo · 78.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,336
• − Mortgage interest: −$4,817
• − Property taxes: −$416
• − Insurance: −$430
• − Repairs & maintenance: −$907
• − Management: −$907
• − Depreciation: −$2,502
• Taxable income: $1,358
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $2,372/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: Livingston County
• NCES district ID: 2103510
• Math proficiency: 27% ▼ -10.00%
• Reading proficiency: 39% ▼ -17.00%
• Median HH income: $41,875
• Composite: 27.87/100
• National rank: #6873
• State rank: #80 of 165 in KY

Livability — Salem

• Score: 60/100
• State rank: #396
• US rank: #18979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,718

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 8,790 people
• By 2030: 8,413 · -4.3%
• By 2040: 7,709 · -12.3%
• By 2050: 7,090 · -19.3%
• By 2075: 6,046 · -31.2%
• By 2100: 5,202 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Italian 10% Serbian 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Livingston

• 2024 margin: Solid R (+63.0) · D 17.8% · R 80.9% · Other 1.3%
• 2008→2024 swing: -35.4pp toward R · 2008: -27.6pp · 2024: -63.0pp
• All cycles: 2024: R+63.0 2020: R+61.4 2016: R+57.8 2012: R+38.6 2008: R+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.33%
• Current HPI: 164.5421
• 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

1 event — show timeline

• 2026-05-22 Listed $86,000 WKRMLS

Property tax history

+2.4%/yr

Latest (2025): $416 · +25.2% YoY. Source: county tax records.