80 Bluegill Ln

Murray, KY 42071

$120,000C+

3 bd · 2.0 ba · 1,020 sqft · Built 2006 · Other · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,446/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $313/mo
• Annual: $3,759/yr
• Cap rate: 9.43%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• 1% rule: 1.21%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath other listed at $120k.
• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#380 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Calloway County (town): math 44% / reading 48% proficiency, ranked #19 of 165 in KY (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.2%/yr); 256 active listings in the ZIP; 81 units permitted in Calloway County in 2024 (66 in 5+ unit buildings).
• Calloway County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $82k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 3.6% in Murray — 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.
• This rent runs 35% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.