200 Longview Dr

Nicholasville, KY 40356

$234,900D+

4 bd · 2.0 ba · 1,798 sqft · Built 1976 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,049/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$392
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $-5/mo
• Annual: $-60/yr
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $65,772

Investor read

• This is a 4-bed/2.0-bath single-family listed at $235k. Condition is rated average.
• At list price, monthly cash flow is $-5 ($-60/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (12.8% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $205k (12.8% 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 66/100 on livability (#231 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Jessamine County (town): math 31% / reading 45% proficiency, ranked #37 of 165 in KY (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nicholasville Elementary School (math 26% / reading 38%, grade F, #348 of 676 statewide, top 55%, 455 students, 62% FRL); East Jessamine Middle School (math 23% / reading 44%, grade F, #105 of 217 statewide, top 51%, 936 students, 56% FRL); East Jessamine High School (math 26% / reading 38%, grade F, #97 of 254 statewide, top 46%, 1,173 students, 57% FRL).
• Market conditions: Rents rising fast (+7.5%/yr); 502 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 267 units permitted in Jessamine County in 2024 (9 in 5+ unit buildings).
• Jessamine County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.3% vs local median 3.4% in Nicholasville — 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.
• This rent runs 33% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 1976 — 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.

Repairs flagged (vision-AI assessment)

• Minor: Brick exterior — Some discoloration
• Minor: Landscaping — Needs trimming