1363 Bridges Creek Ct

Georgetown, KY 40324

$235,000D-

3 bd · 1.0 ba · 1,066 sqft · Built 1977 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,772/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$180
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $-12/mo
• Annual: $-149/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• 1% rule: 0.75%
• Cash to close: $65,800

Investor read

• This is a 3-bed/1.0-bath other listed at $235k.
• At list price, monthly cash flow is $-12 ($-149/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (24.6% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $177k (24.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#75 in KY, #2,338 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southern Elementary School (math 21% / reading 29%, grade F, #483 of 676 statewide, top 72%, 502 students, 57% FRL); Georgetown Middle School (math 18% / reading 39%, grade F, #161 of 217 statewide, top 75%, 636 students, 54% FRL); Great Crossing High School (math 36% / reading 40%, grade F, #55 of 254 statewide, top 22%, 1,790 students, 43% FRL).
• Market conditions: Rents rising (+3.0%/yr); 441 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 546 units permitted in Scott County in 2024 (98 in 5+ unit buildings).
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Cap rate 6.2% vs local median 3.5% in Georgetown — 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

• 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?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.