255 Greta Dr

Bowling Green, KY 42122

$244,900C

4 bd · 2.0 ba · 1,807 sqft · Built 1987 · SingleFamily · Pending · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,369/mo
• Mortgage (P&I): −$1,284
• Tax + insurance: −$249
• HOA: −$0
• Vac / Maint / Mgmt: −$498
• Net cashflow: $338/mo
• Annual: $4,060/yr
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• 1% rule: 0.97%
• Cash to close: $68,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $245k.
• At list price, monthly cash flow is $338 ($4k/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 $237k (3.3% below list).
• It's been on market 68 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.
• 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 65/100 on livability (#255 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D+, amenities F.
• Warren County (rural): math 30% / reading 43% proficiency, ranked #48 of 165 in KY (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 195 active listings in the ZIP; 2,286 units permitted in Warren County in 2024 (1,410 in 5+ unit buildings).
• Warren County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.0% vs local median 3.2% in Bowling Green — 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

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.
• 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.