265 Cunningham Ln · Clay City, KY 40391

$199,900

3 bd · 2.0 ba · 1,140 sqft · Other · 27 Days on market

Built 2024 1.43 ac lot

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Schools +3.0/10.0
• Livability +2.9/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Country Living at Its Finest Y'all! Pack the U-Haul and get excited because this nearly new single wide home is awaiting its new owners! It has a split bedroom floor plan, fully equipped kitchen and handy laundry/mud room that leads to the back yard. With 1.429 acres, you have room to roam all while being located only minutes from the Mountain Parkway.

Key facts

• Countryside views
• Over an acre of land
• Fenced-in backyard

Tags

• COUNTRYSIDE VIEWS
• FENCED-IN BACKYARD
• NEW SEPTIC TANK SYSTEM
• OVER AN ACRE OF LAND

Property features AI

Finance

• Other: Lot about 1.43 acres

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Septic tank; Electricity connected; Water connected
• Home design: Manufactured house; Single-story
• Construction: Vinyl siding; Composition roof; Pillar/post/pier foundation; Built area approximately 1,140
• Exterior features: Secluded, wooded lot; Wood fencing; Rural and trees/woods view

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Vented exhaust fan
• Bedrooms: Primary bedroom located on the first floor
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Breakfast bar; Eat-in kitchen; Primary bedroom on the first floor; Ceiling fans; Insulated windows; Crawl space foundation (basement type); No fireplace
• Laundry & utility: Main-level laundry hookups; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $7 ($88/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 $157k (21.6% below list).
• Recommended offer: $157k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.4% in Clay City — 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.

Location & tenants

• Location reads 58/100 on livability (#428 in KY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+; Watch: health & safety D+, amenities F, commute F.
• Clark County (town): math 28% / reading 41% proficiency, ranked #64 of 165 in KY (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William G. Conkwright Elementary (math 12% / reading 22%, grade F, #607 of 676 statewide, top 91%, 505 students, 70% FRL); Robert D. Campbell Jr. High (math 28% / reading 47%, grade F, #73 of 217 statewide, top 36%, 820 students, 57% FRL).
• Market conditions: 291 active listings in the ZIP; 160 units permitted in Clark County in 2024 (61 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Clark County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $156,795 (21.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-31,994
• Equity at exit: $29,806

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-27,538
• Equity at exit: $17,284

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40391

• Home prices YoY: -17.0%
• Active inventory: 291
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,568 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$100 /mo · $1,197/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $7

Break-even live

Break-even rent $1,559

Max offer price $199,900

Occupancy floor 95%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-03
   status $199,900 Pending 27 DOM
2. 2026-06-02
   days on market $199,900 Active 27 DOM
3. 2026-06-01
   days on market $199,900 Active 26 DOM
4. 2026-05-31
   days on market $199,900 Active 25 DOM
5. 2026-05-31
   days on market $199,900 Active 24 DOM
6. 2026-05-19
   status Active
7. 2026-05-09
   historical Contingent
8. 2026-05-06
   listed $200,000 Active
9. 2025-09-02
   soldstatus $182,000
10. 2025-07-31
    status Pending 354-char remark

    Show marketing remark (354 chars)

    Country Living at Its Finest Y'all! Pack the U-Haul and get excited because this nearly new single wide home is awaiting its new owners! It has a split bedroom floor plan, fully equipped kitchen and handy laundry/mud room that leads to the back yard. With 1.429 acres, you have room to roam all while being located only minutes from the Mountain Parkway.

11. 2025-07-31
    soldstatus $182,000 Closed 354-char remark

    Show marketing remark (354 chars)

    Country Living at Its Finest Y'all! Pack the U-Haul and get excited because this nearly new single wide home is awaiting its new owners! It has a split bedroom floor plan, fully equipped kitchen and handy laundry/mud room that leads to the back yard. With 1.429 acres, you have room to roam all while being located only minutes from the Mountain Parkway.

12. 2025-06-25
    historical Contingent 354-char remark

    Show marketing remark (354 chars)

    Country Living at Its Finest Y'all! Pack the U-Haul and get excited because this nearly new single wide home is awaiting its new owners! It has a split bedroom floor plan, fully equipped kitchen and handy laundry/mud room that leads to the back yard. With 1.429 acres, you have room to roam all while being located only minutes from the Mountain Parkway.

13. 2025-06-23
    listed $175,000 Active 354-char remark

    Show marketing remark (354 chars)

    Country Living at Its Finest Y'all! Pack the U-Haul and get excited because this nearly new single wide home is awaiting its new owners! It has a split bedroom floor plan, fully equipped kitchen and handy laundry/mud room that leads to the back yard. With 1.429 acres, you have room to roam all while being located only minutes from the Mountain Parkway.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $1,197 · $100/mo
• Projected year-2 tax: $1,719 · $143/mo
• Expected delta: +$522/yr (+$43/mo · 43.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,815
• − Mortgage interest: −$11,198
• − Property taxes: −$1,197
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$5,815
• Taxable loss: −$3,405
• Est. tax savings @ 24.0%: +$817
• After-tax cash flow: $905/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clark County
• NCES district ID: 2101200
• Math proficiency: 28% ▼ -25.00%
• Reading proficiency: 41% ▼ -18.00%
• Median HH income: $47,282
• Composite: 29.63/100
• National rank: #6469
• State rank: #64 of 165 in KY

Livability — Clay City

• Score: 58/100
• State rank: #428
• US rank: #20794

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing C+ Health & safety D+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clark County · 36,796 people
• Metro: Lexington-Fayette, KY
• Population (ZIP): 36,796
• Household income: $64,144
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 854.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 35,849 people
• By 2030: 35,616 · -0.6%
• By 2040: 34,727 · -3.1%
• By 2050: 33,195 · -7.4%
• By 2075: 29,439 · -17.9%
• By 2100: 24,744 · -31.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 4% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Clark

• 2024 margin: Solid R (+35.3) · D 31.6% · R 66.9% · Other 1.6%
• 2008→2024 swing: -10.3pp toward R · 2008: -25.1pp · 2024: -35.3pp
• All cycles: 2024: R+35.3 2020: R+32.0 2016: R+37.1 2012: R+30.5 2008: R+25.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.24%
• Current HPI: 283.7839
• Rent YoY: —
• Metro: Lexington-Fayette, KY
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+14.3% since first listed

8 events — show timeline

• 2026-05-19 Relisted — ImagineMLS
• 2026-05-09 Contingent — ImagineMLS
• 2026-05-06 Listed $200,000 ImagineMLS
• 2025-09-02 Sold (Public Records) $182,000 Public Records
• 2025-07-31 Pending — ImagineMLS
• 2025-07-31 Sold (MLS) $182,000 ImagineMLS
• 2025-06-25 Contingent — ImagineMLS
• 2025-06-23 Listed $175,000 ImagineMLS

Property tax history

+10.2%/yr

Latest (2025): $1,197 · +386.7% YoY. Source: county tax records.