299 Igo Rd · Lakeview Heights, KY 40351

$119,900

2 bd · 1.0 ba · 800 sqft · Other · 34 Days on market

Built 2022 Poor condition 2.86 ac lot $150/sqft · 18% below area Est $147k · 18% under

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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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Cave Run Lake Cabin for Sale! LOCATION, LOCATION, LOCATION! Rustic Fishing/Lake Cabin located 1 mile from Banger Boat Ramp, 4 miles to Longbow and Scott's Creek Marina! This cabin would make a wonderful home, short term rental, long term rental, air B & B, or vacation getaway!. No HOA, NO RESTRICTIONS! If you are looking for privacy, this 2 bedroom 1 bath piece of paradise that sits on 2.86 plus/minus acres is for you! You are within walking distance to Banger boat ramp, it is perfect for an air bb and/or transient rentals, has plenty of room to park multiple boats and trailers. Would make an excelent fishing cabin, and boast beautiful woodland views from the wrap around deck that is

Key facts

• Woodland views
• Wrap around deck
• Cave run lake cabin

Tags

• CAVE RUN LAKE CABIN
• RUSTIC FISHING LAKE CABIN
• WRAP AROUND DECK
• WOODLAND VIEWS
• WOODED ACREAGE
• 2.86 PLUS MINUS ACRES

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water connected; Septic tank; Electricity connected; Cable available
• Home design: Cabin; One and one half levels; 800 square-foot building area
• Construction: Wood siding; Block foundation
• Exterior features: Shed(s); Workshop; Secluded lot with many trees; Wooded setting; Rural and mountain views

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Total rooms: 5
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Ductless heating; Ductless cooling; Wall unit(s) for cooling
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $120k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $60 ($722/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 $113k (6.2% below list).
• Recommended offer: $113k (6.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#167 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Rowan County (rural): math 28% / reading 41% proficiency, ranked #74 of 165 in KY (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rowan County Preschool Center (174 students, 62% FRL); Rowan County Middle School (math 31% / reading 46%, grade F, #68 of 217 statewide, top 32%, 716 students, 62% FRL); Rowan County Senior High School (math 29% / reading 31%, grade F, #122 of 254 statewide, top 49%, 1,017 students, 60% FRL).
• Market conditions: 147 active listings in the ZIP; 15 units permitted in Rowan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rowan County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $120k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $112,504 (6.2% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

• ARV (median comp): $146,527
• List price: $119,900
• Delta: -18.17%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.9%
• Equity multiple: 0.54×
• Total profit: $-15,579
• Equity at exit: $17,877

10-year hold

• IRR: -3.8%
• Equity multiple: 0.74×
• Total profit: $-8,562
• Equity at exit: $10,367

Cash invested: $33,572 (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 40351

• Home prices YoY: -22.6%
• Active inventory: 147
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $60

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 90%

Sensitivity live

Price	-10% $143	-5% $102	+0% $60	+5% $19	+10% $-23
Rent	-10% $-29	-5% $16	+0% $60	+5% $105	+10% $149
Rate	-1.0pp $121	-0.5pp $91	base $60	+0.5pp $29	+1.0pp $-2

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $119,900 Active 34 DOM
2. 2026-06-17
   days on market $119,900 Active 33 DOM
3. 2026-06-16
   days on market $119,900 Active 32 DOM
4. 2026-06-15
   days on market $119,900 Active 31 DOM
5. 2026-06-14
   days on market $119,900 Active 29 DOM
6. 2026-06-13
   days on market $119,900 Active 28 DOM
7. 2026-06-10
   days on market $119,900 Active 26 DOM
8. 2026-06-09
   days on market $119,900 Active 25 DOM
9. 2026-06-08
   days on market $119,900 Active 24 DOM
10. 2026-06-07
    days on market $119,900 Active 23 DOM
11. 2026-06-03
    days on market $119,900 Active 19 DOM
12. 2026-06-02
    days on market $119,900 Active 18 DOM
13. 2026-06-01
    days on market $119,900 Active 17 DOM
14. 2026-05-31
    days on market $119,900 Active 16 DOM
15. 2026-05-31
    days on market $119,900 Active 15 DOM
16. 2026-05-14
    listed $125,000 Active 927-char remark
17. 2026-04-16
    soldstatus $54,200

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 5% 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: $13,500
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$3,488
• Taxable loss: −$1,262
• Est. tax savings @ 24.0%: +$303
• After-tax cash flow: $1,025/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This rustic cabin requires extensive repairs and updates to its roof, exterior, and HVAC systems, as well as landscaping improvements. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major roof — Signs of significant damage
• Major exterior siding — Severe peeling and wear
• Major HVAC/mechanicals — No visible systems, likely outdated or non-functional

Value-add opportunities

• Both roof replacement — Critical to the structural integrity and appearance of the property
• Both exterior siding repair — Improves curb appeal and structural integrity
• Both HVAC upgrade — Enhances comfort and energy efficiency
• Both landscaping and curb appeal — Enhances property value and attracts potential buyers/renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of significant damage	Major	$15,000–50,000
exterior siding · Severe peeling and wear	Major	$15,000–50,000
HVAC/mechanicals · No visible systems, likely outdated or non-functional	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both roof replacement — Critical to the structural integrity and appearance of the property ↑
• Both exterior siding repair — Improves curb appeal and structural integrity ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑
• Both landscaping and curb appeal — Enhances property value and attracts potential buyers/renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rowan County
• NCES district ID: 2105100
• Math proficiency: 28% ▼ -19.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $35,139
• Composite: 28.47/100
• National rank: #6742
• State rank: #74 of 165 in KY

Livability — Lakeview Heights

• Score: 69/100
• State rank: #167
• US rank: #8459

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

• County: Rowan County · 22,322 people
• Metro: nan
• Population (ZIP): 22,322
• Household income: $51,835
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 589.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 27,518 people
• By 2030: 29,242 · +6.3%
• By 2040: 32,949 · +19.7%
• By 2050: 37,128 · +34.9%
• By 2075: 49,130 · +78.5%
• By 2100: 59,014 · +114.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Rowan

• 2024 margin: Strong R (+27.8) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -29.8pp toward R · 2008: 2.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+21.0 2016: R+21.3 2012: R+7.8 2008: D+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.28%
• Current HPI: 203.0786
• Rent YoY: —
• Metro: nan
• 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

+121.2% since first listed

3 events — show timeline

• 2026-05-28 Price Changed $119,900 ImagineMLS
• 2026-05-14 Listed $125,000 ImagineMLS
• 2026-04-16 Sold (Public Records) $54,200 Public Records