419 Pine St

La Center, KY 42056

$105,000C-

2 bd · 1.0 ba · 832 sqft · Built — · Other · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $967/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$203
• Net cashflow: $141/mo
• Annual: $1,688/yr
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• 1% rule: 0.92%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath other listed at $105k.
• At list price, monthly cash flow is $141 ($2k/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 $97k (7.9% below list).
• It's been on market 45 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (7.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-0.9%/yr); year-one equity from $726 of loan paydown is wiped out by about $973 of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#415 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, housing C-, amenities F.
• Ballard County (rural): math 31% / reading 40% proficiency, ranked #61 of 165 in KY (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ballard County Elementary School (math 38% / reading 41%, grade F, #208 of 676 statewide, top 34%, 467 students, 58% FRL); Ballard County Middle School (math 24% / reading 39%, grade F, #125 of 217 statewide, top 63%, 215 students, 58% FRL).
• Market conditions: 8 active listings in the ZIP.
• Ballard County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $34k; list at $105k implies a 210% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.