294 South Shore Drive Dr

South Shore, KY 41175

$34,900A-

2 bd · 1.0 ba · 705 sqft · Built — · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $823/mo
• Mortgage (P&I): −$183
• Tax + insurance: −$468
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $-1/mo
• Annual: $-8/yr
• Cap rate: 20.93%
• Cash-on-cash: 52.29%
• DSCR: 3.33
• 1% rule: 2.36%
• Cash to close: $9,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $-1 ($-8/yr) — negative.
• To cash-flow at today's rent, offer at most $35k (0.4% below list).
• Meets the 1% rule at list price ($823 rent vs $35k).
• It's been on market 24 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• In year one you build about $850 of equity ($241 loan paydown + $609 appreciation (1.7% local appreciation)).
• Location reads 76/100 on livability (#89 in KY, #3,524 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: commute D+, amenities F, employment F.
• Greenup County (suburban): math 23% / reading 35% proficiency, ranked #118 of 165 in KY (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mckell Elementary School (math 22% / reading 29%, grade F, #477 of 676 statewide, top 71%, 469 students, 70% FRL); Mckell Middle School (math 21% / reading 38%, grade F, #151 of 217 statewide, top 71%, 361 students, 57% FRL); Greenup County High School (math 30% / reading 30%, grade F, #122 of 254 statewide, top 49%, 849 students, 62% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 15 active listings in the ZIP; 20 units permitted in Greenup County in 2024 (0 in 5+ unit buildings).
• Greenup County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.