532 Parker Ave

Hartford, KY 42347

$90,000C+

3 bd · 2.0 ba · 1,919 sqft · Built 1956 · Other · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,114/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $268/mo
• Annual: $3,212/yr
• Cap rate: 9.86%
• Cash-on-cash: 12.75%
• DSCR: 1.57
• 1% rule: 1.24%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath other listed at $90k.
• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#258 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment C-, amenities F, commute F.
• Ohio County (rural): math 29% / reading 44% proficiency, ranked #58 of 165 in KY (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wayland Alexander Elementary School (math 36% / reading 47%, grade F, #197 of 676 statewide, top 29%, 659 students, 67% FRL); Ohio County Middle School (math 30% / reading 44%, grade F, #80 of 217 statewide, top 41%, 550 students, 62% FRL); Ohio County High School (math 39% / reading 48%, grade F, #28 of 254 statewide, top 11%, 1,144 students, 57% FRL).
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 17 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1956 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.