30 Roberts Dr

Somerset, KY 42503

$69,900B-

1 bd · 1.0 ba · 504 sqft · Built 1997 · Manufactured · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $850/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $249/mo
• Annual: $2,984/yr
• Cap rate: 10.56%
• Cash-on-cash: 15.25%
• DSCR: 1.68
• 1% rule: 1.22%
• Cash to close: $19,572

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $70k).
• It's been on market 20 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#208 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety B+, crime B; Watch: amenities F, commute F, employment F.
• Pulaski County (town): math 43% / reading 53% proficiency, ranked #17 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pulaski County High School (math 42% / reading 47%, grade F, #21 of 254 statewide, top 10%, 1,209 students, 57% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: 293 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 117 units permitted in Pulaski County in 2024 (50 in 5+ unit buildings).
• 2 sale attempts since 3y 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 $45k; list at $70k implies a 55% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.6% vs local median 3.1% in Somerset — 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

• 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.