171 Fisher Blvd

Reidland, KY 42003

$179,900F

3 bd · 2.0 ba · 1,479 sqft · Built 1971 · SingleFamily · Active · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $850/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$264
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $-536/mo
• Annual: $-6,426/yr
• Cap rate: 3.16%
• Cash-on-cash: -11.17%
• DSCR: 0.50
• 1% rule: 0.47%
• Cash to close: $50,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $-536 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $85k (52.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (52.8% below list).
• It's been on market 123 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (52.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#162 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mccracken County (town): math 41% / reading 52% proficiency, ranked #16 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 268 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 187 units permitted in McCracken County in 2024 (104 in 5+ unit buildings).
• McCracken County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $180k implies a 64% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 123 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.