100 Murphy Ln

Burgin, KY 40310

$345,000C

8 bd · 4.0 ba · 3,840 sqft · Built 2001 · MultiFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,738/mo
• Mortgage (P&I): −$1,809
• Tax + insurance: −$575
• HOA: −$0
• Vac / Maint / Mgmt: −$785
• Net cashflow: $569/mo
• Annual: $6,826/yr
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $96,600

Investor read

• This is a 2×3bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $345k. Condition is rated fair.
• At list price, monthly cash flow is $569 ($7k/yr) — positive. Per door: $142/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $345k).
• It's been on market 17 days — a 2% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $340k (1.5% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• Location reads 68/100 on livability (#194 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Burgin Independent (rural): math 34% / reading 46% proficiency, ranked #26 of 165 in KY (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 148 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $97k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 8.3% vs local median 2.2% in Burgin — 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.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Weathered appearance
• Moderate: Roof — Aged appearance
• Moderate: Interior walls/paint — Faded appearance