755 Berrys Lick Rd · Morgantown, KY 42256

$115,000

2 bd · 1.0 ba · 1,912 sqft · SingleFamily public records · 57 Days on market

Built 1930 1.00 ac lot ↓ 8% since listing

---

Why this score? — see what drove the D+ 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 +16.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Appreciation +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

This charming farmhouse sits on approximately 1 acre with mature trees and fence on three sides in the country surrounded by farm land. The home needs some TLC, but will make a great starter home or investment property. There is 2 rooms upstairs and then on the main level you have a nice size living room, kitchen, bedroom, bonus room, bathroom and utility room. There is a storm cellar area. There is a 30x36 detached garage with electric that would be perfect for storage or a great workshop. There is a covered front porch and room for a fit pit to enjoy the outdoors. If you are looking to restore a farmhouse or maybe just looking for an investment opportunity this property would be perfect f

Key facts

• Covered front porch
• Fence on three sides
• Room for a fire pit

Tags

• MATURE TREES
• FENCE ON THREE SIDES
• STORM CELLAR AREA
• DETACHED GARAGE
• COVERED FRONT PORCH
• ROOM FOR A FIRE PIT

Property features AI

Exterior

• Parking: 2-car garage; Gravel parking
• Utilities: Septic tank
• Home design: Single family residence; Residential property
• Construction: Vinyl siding; Shingle roof
• Exterior features: Covered patio/porch

Interior

• Kitchen: Eat-in kitchen
• Flooring: Carpet; Hardwood; Laminate; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Propane heating; Window unit cooling; Ceiling fans
• Interior features: Eat-in kitchen; Electric water heater
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $73 ($872/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 $101k (11.9% below list).
• Recommended offer: $101k (11.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#405 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Butler County (rural): math 18% / reading 32% proficiency, ranked #147 of 165 in KY (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morgantown Elementary School (math 17% / reading 30%, grade F, #515 of 676 statewide, top 77%, 700 students, 67% FRL); Butler County Middle School (math 16% / reading 36%, grade F, #178 of 217 statewide, top 83%, 454 students, 64% FRL); Butler County High School (math 22% / reading 27%, grade F, #179 of 254 statewide, top 78%, 633 students, 54% FRL).
• Market conditions: 62 active listings in the ZIP; 1 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $839 of equity ($795 loan paydown + $44 appreciation (0.0% local appreciation)).
• At projected returns (0.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,285 (11.9% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.71%
• DSCR: 1.12
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,446
• Equity at exit: $33,613

10-year hold

• IRR: 6.4%
• Equity multiple: 1.70×
• Total profit: $22,434
• Equity at exit: $40,581

Cash invested: $32,200 (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 42256

• Home prices YoY: 0.0%
• Active inventory: 62
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$76 /mo · $918/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $73

Break-even live

Break-even rent $921

Max offer price $115,000

Occupancy floor 88%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $115,000 Active 57 DOM
2. 2026-06-18
   days on market $115,000 Active 56 DOM
3. 2026-06-17
   days on market $115,000 Active 55 DOM
4. 2026-06-16
   days on market $115,000 Active 54 DOM
5. 2026-06-15
   price $115,000 Active 53 DOM
6. 2026-06-15
   days on market $119,000 Active 53 DOM
7. 2026-06-14
   days on market $119,000 Active 51 DOM
8. 2026-06-13
   days on market $119,000 Active 50 DOM
9. 2026-06-10
   days on market $119,000 Active 48 DOM
10. 2026-06-09
    days on market $119,000 Active 47 DOM
11. 2026-06-08
    days on market $119,000 Active 46 DOM
12. 2026-06-07
    days on market $119,000 Active 45 DOM
13. 2026-06-05
    days on market $119,000 Active 42 DOM
14. 2026-06-03
    days on market $119,000 Active 41 DOM
15. 2026-06-02
    days on market $119,000 Active 40 DOM
16. 2026-06-01
    days on market $119,000 Active 39 DOM
17. 2026-05-31
    days on market $119,000 Active 38 DOM
18. 2026-05-30
    days on market $119,000 Active 37 DOM
19. 2026-04-23
    listed $119,000 Active
20. 2025-11-25
    price $115,000
21. 2025-07-09
    listed $129,900 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: $918 · $76/mo
• Projected year-2 tax: $989 · $82/mo
• Expected delta: +$71/yr (+$6/mo · 7.7%)

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

Taxation est. · year 1

• Rental income: $12,154
• − Mortgage interest: −$6,442
• − Property taxes: −$918
• − Insurance: −$575
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$3,345
• Taxable loss: −$1,071
• Est. tax savings @ 24.0%: +$257
• After-tax cash flow: $1,129/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: Butler County
• NCES district ID: 2100810
• Math proficiency: 18% ▼ -20.00%
• Reading proficiency: 32% ▼ -15.00%
• Median HH income: $35,849
• Composite: 20.65/100
• National rank: #8541
• State rank: #147 of 165 in KY

Livability — Morgantown

• Score: 60/100
• State rank: #405
• US rank: #19314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,052

Population outlook (Butler County) Hauer SSP2

• Today (2025): 13,118 people
• By 2030: 13,111 · -0.1%
• By 2040: 13,003 · -0.9%
• By 2050: 12,979 · -1.1%
• By 2075: 13,826 · +5.4%
• By 2100: 15,986 · +21.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Italian 2% Slovak 1% Romanian 1%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 2% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+66.3) · D 16.2% · R 82.5% · Other 1.2%
• 2008→2024 swing: -26.0pp toward R · 2008: -40.3pp · 2024: -66.3pp
• All cycles: 2024: R+66.3 2020: R+63.4 2016: R+62.4 2012: R+47.9 2008: R+40.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ 0.04%
• Current HPI: 265.4274
• 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

-8.4% since first listed

3 events — show timeline

• 2026-04-23 Listed $119,000 RASKMLS
• 2025-11-25 Price Changed $115,000 RASKMLS
• 2025-07-09 Listed $129,900 RASKMLS

Property tax history

+4.1%/yr

Latest (2025): $918 · -0.0% YoY. Source: county tax records.