90 Emily Dr

Pineville, KY 40813

$650,000B+

24 bd · 15.6 ba · 11,700 sqft · Built 1992 · MultiFamily · Active · 238 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,362/mo
• Mortgage (P&I): −$3,409
• Tax + insurance: −$1,083
• HOA: −$0
• Vac / Maint / Mgmt: −$2,176
• Net cashflow: $3,694/mo
• Annual: $44,328/yr
• Cap rate: 13.11%
• Cash-on-cash: 24.36%
• DSCR: 2.08
• 1% rule: 1.59%
• Cash to close: $182,000

Investor read

• This is a 12 × 2-bed/1.3-bath units multifamily listed at $650k. Condition is rated average.
• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $308/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $650k).
• It's been on market 238 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $572k (12.0% below list) — sets the bar for market timing.
• In year one you build about $33k of equity ($4k loan paydown + $28k appreciation (4.3% local appreciation)).
• Location reads 68/100 on livability (#195 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A-; Watch: schools D-, amenities F, commute F.
• Bell County (rural): math 27% / reading 40% proficiency, ranked #91 of 165 in KY (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP; 44 units permitted in Bell County in 2024 (0 in 5+ unit buildings).
• Bell County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $182k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Weathered appearance
• Minor: Landscaping — Overgrown and unkempt