290 Ky-643

Stanford, KY 40489

$60,000B

3 bd · 1.0 ba · 981 sqft · Built — · SingleFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $884/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$186
• Net cashflow: $284/mo
• Annual: $3,407/yr
• Cap rate: 11.97%
• Cash-on-cash: 20.28%
• DSCR: 1.90
• 1% rule: 1.47%
• Cash to close: $16,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated average.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($884 rent vs $60k).
• It's been on market 99 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.1%/yr); year-one equity from $415 of loan paydown is wiped out by about $632 of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#226 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Lincoln County (rural): math 20% / reading 35% proficiency, ranked #131 of 165 in KY (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 27 active listings in the ZIP; 91 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 12.0% vs local median 2.9% in Stanford — 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

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — existing shingles
• Major: exterior — existing siding
• Major: flooring — existing hardwood
• Major: interior walls/paint — existing paint