2662 Coral Dr · Hebron, KY 41048

$250,000

3 bd · 1.5 ba · 792 sqft · Manufactured public records · 7 Days on market

Built 1971 0.27 ac lot

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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 +9.8/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WOW! FULLY REIMAGINED RANCH STYLE HOME, 1 Level living, with potential to grow, HOA FREE, in One of the area's most exciting school districts!!! HEBRON. .. REBORN !!! GO COUGARS!!! If you have a football star in the making, the new Hire of Football Coach FLOYD has revitalized the area!!! Whether you are a home buyer, an investor, or someone looking for opportunity in a great school district, then this one is for you!!! HOME is where the HEART is. .. Take a tour TODAY! FALL IN LOVE with this HOME, & WELCOME HOME

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1971

Property features AI

Exterior

• Parking: Driveway; 2-car garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One level
• Construction: Brick construction; Shingle roof; Poured concrete foundation; Built in 1971
• Exterior features: Covered porch; Vinyl window frames

Interior

• Kitchen: Kitchen (20 x 13)
• Bedrooms: Primary bedroom (13 x 12); Bedroom 2 (11 x 11); Bedroom 3 (10 x 9)
• Bathrooms: 1 full bathroom; 1 half bathroom; Primary bath (7 x 6)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Has a fireplace (inoperable)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (20.5% below list).
• Recommended offer: $199k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.8% in Hebron — 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 80/100 on livability (#69 in KY, #1,700 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Boone County (suburban): math 43% / reading 49% proficiency, ranked #12 of 165 in KY (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thornwilde Elementary School (math 57% / reading 59%, grade C+, #43 of 676 statewide, top 6%, 624 students, 28% FRL); Conner Middle School (math 50% / reading 62%, grade B-, #6 of 217 statewide, top 2%, 896 students, 35% FRL); Conner High School (math 47% / reading 51%, grade D, #15 of 254 statewide, top 6%, 1,443 students, 33% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 198 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,430 units permitted in Boone County in 2024 (928 in 5+ unit buildings).
• This rent is only 17% of the median local income ($137k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• 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.
• Boone County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $198,677 (20.5% 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. Built in 1971 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.79% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• GRM: 10.5

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-50,553
• Equity at exit: $37,276

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-56,869
• Equity at exit: $21,615

Cash invested: $70,000 (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 41048

• Home prices YoY: -31.1%
• Active inventory: 198
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,987 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-158

Break-even live

Break-even rent $2,187

Max offer price $227,116

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-72	+0% $-158	+5% $-245	+10% $-331
Rent	-10% $-315	-5% $-237	+0% $-158	+5% $-80	+10% $-1
Rate	-1.0pp $-32	-0.5pp $-95	base $-158	+0.5pp $-223	+1.0pp $-289

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3465 Hebron Station Dr Hebron, KY	1.0–2.0	1.0–2.0	819	$1,510	$1.84	3d	20	0.81mi
2375 S Park Dr Hebron, KY	2.0	1.0	821	$1,267	$1.54	2d	3	0.89mi

Listing history 1 events

1. 2026-05-22
   listed $250,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,841
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$7,273
• Taxable loss: −$6,250
• Est. tax savings @ 24.0%: +$1,500
• After-tax cash flow: $-398/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: Boone County
• NCES district ID: 2100510
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 49% ▼ -12.00%
• Median HH income: $68,096
• Composite: 41.18/100
• National rank: #3550
• State rank: #12 of 165 in KY

Livability — Hebron

• Score: 80/100
• State rank: #69
• US rank: #1700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hebron, KY
• County: Boone County · 99,563 people
• City population: 16,211
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 16,211
• Household income: $137,398
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 169.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 144,066 people
• By 2030: 152,005 · +5.5%
• By 2040: 166,776 · +15.8%
• By 2050: 178,974 · +24.2%
• By 2075: 204,515 · +42.0%
• By 2100: 215,306 · +49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Scottish 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Boone

• 2024 margin: Solid R (+37.2) · D 30.6% · R 67.8% · Other 1.7%
• 2008→2024 swing: -2.7pp toward R · 2008: -34.5pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+35.7 2016: R+41.8 2012: R+38.7 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.70%
• Current HPI: 189.8568
• Rent YoY: —
• Metro: Cincinnati, OH-KY-IN
• 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 $250,000 NKMLS

Property tax history

+1.4%/yr

Latest (2025): $42 · -0.3% YoY. Source: county tax records.