2413 Big Hill Rd · Berea, KY 40403

$90,000

2 bd · 2.0 ba · 1,280 sqft · Other · 29 Days on market

Built 1992 1.08 ac lot ↓ 31% since listing

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Why this score? — see what drove the B- 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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 2 full bath, 1 car attached garage mobile home sitting on 1.08 acres. Storage shed conveys with property. Located directly across from Dollar General. Just a few miles from Owsley Fork. Good investment property and is currently rented. Located in flood zone.

Key facts

• Spacious yard
• Attached garage
• Over 1 acre

Tags

• OVER 1 ACRE
• ATTACHED GARAGE
• SPACIOUS YARD
• CONVENIENT ACCESS TO TOWN

Property features AI

Exterior

• Parking: Attached garage; Driveway; Property has a garage
• Utilities: Public water; Septic tank; Electricity connected; Water connected
• Home design: Manufactured house; One story
• Construction: Aluminum siding; Metal roof; Other foundation
• Exterior features: Shed(s); Few trees on the lot

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating and cooling)
• Interior features: Eat-in kitchen; Ceiling fan(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.0% in Berea — 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 75/100 on livability (#104 in KY, #4,354 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Madison County (town): math 31% / reading 47% proficiency, ranked #35 of 165 in KY (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kingston Elementary School (math 30% / reading 39%, grade F, #301 of 676 statewide, top 48%, 618 students, 50% FRL); Farristown Middle School (math 43% / reading 57%, grade C, #23 of 217 statewide, top 11%, 466 students, 48% FRL); Madison Southern High School (math 32% / reading 42%, grade F, #58 of 254 statewide, top 27%, 1,210 students, 50% FRL).
• Market conditions: 206 active listings in the ZIP; 453 units permitted in Madison County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago 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.
• Current owner paid $57k; list at $90k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,650 (1.5% 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. 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.
3. 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.
4. 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: 1.27% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.26%
• DSCR: 1.59
• GRM: 6.6

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: 3.3%
• Equity multiple: 1.13×
• Total profit: $3,175
• Equity at exit: $13,419

10-year hold

• IRR: 12.8%
• Equity multiple: 2.02×
• Total profit: $25,680
• Equity at exit: $7,782

Cash invested: $25,200 (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 40403

• Home prices YoY: -15.7%
• Active inventory: 206
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $279

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 71%

Sensitivity live

Price	-10% $341	-5% $310	+0% $279	+5% $247	+10% $216
Rent	-10% $189	-5% $234	+0% $279	+5% $324	+10% $369
Rate	-1.0pp $324	-0.5pp $301	base $279	+0.5pp $255	+1.0pp $232

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-10
   days on market $90,000 Active 29 DOM
2. 2026-06-09
   days on market $90,000 Active 28 DOM
3. 2026-06-08
   days on market $90,000 Active 27 DOM
4. 2026-06-07
   days on market $90,000 Active 26 DOM
5. 2026-06-05
   days on market $90,000 Active 23 DOM
6. 2026-06-03
   days on market $90,000 Active 22 DOM
7. 2026-06-02
   days on market $90,000 Active 21 DOM
8. 2026-06-01
   days on market $90,000 Active 20 DOM
9. 2026-05-31
   days on market $90,000 Active 19 DOM
10. 2026-05-31
    days on market $90,000 Active 18 DOM
11. 2026-05-11
    listed $90,000 Active 169-char remark
12. 2023-02-16
    soldstatus $57,000 Closed 269-char remark

    Show marketing remark (269 chars)

    2 bedroom, 2 full bath, 1 car attached garage mobile home sitting on 1.08 acres. Storage shed conveys with property. Located directly across from Dollar General. Just a few miles from Owsley Fork. Good investment property and is currently rented. Located in flood zone.

13. 2023-01-07
    status Pending 269-char remark

    Show marketing remark (269 chars)

    2 bedroom, 2 full bath, 1 car attached garage mobile home sitting on 1.08 acres. Storage shed conveys with property. Located directly across from Dollar General. Just a few miles from Owsley Fork. Good investment property and is currently rented. Located in flood zone.

14. 2022-12-05
    price $74,000 269-char remark

    Show marketing remark (269 chars)

    2 bedroom, 2 full bath, 1 car attached garage mobile home sitting on 1.08 acres. Storage shed conveys with property. Located directly across from Dollar General. Just a few miles from Owsley Fork. Good investment property and is currently rented. Located in flood zone.

15. 2022-11-23
    listed $79,000 Active 269-char remark

    Show marketing remark (269 chars)

    2 bedroom, 2 full bath, 1 car attached garage mobile home sitting on 1.08 acres. Storage shed conveys with property. Located directly across from Dollar General. Just a few miles from Owsley Fork. Good investment property and is currently rented. Located in flood zone.

16. 2018-11-04
    historical
17. 2018-10-11
    price $92,500
18. 2018-08-28
    price $99,500
19. 2018-08-03
    price $105,000
20. 2018-07-21
    price $109,000
21. 2018-07-13
    listed $119,000 Active
22. 2017-11-16
    soldstatus $83,500 Sold
23. 2017-08-24
    status Pending
24. 2017-08-17
    status Active
25. 2017-08-17
    status Pending
26. 2017-05-02
    listed $84,200 Active
27. 2017-04-30
    historical
28. 2017-03-24
    price $97,500
29. 2017-01-05
    price $113,000
30. 2016-12-01
    listed $129,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $13,679
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$2,618
• Taxable income: $2,031
• Est. tax owed @ 24.0%: −$487
• After-tax cash flow: $2,855/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: Madison County
• NCES district ID: 2103720
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $43,590
• Composite: 32.99/100
• National rank: #5580
• State rank: #35 of 165 in KY

Livability — Berea

• Score: 75/100
• State rank: #104
• US rank: #4354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Madison County · 93,568 people
• City population: 27,607
• Metro: Richmond-Berea, KY
• Population (ZIP): 27,607
• Household income: $61,771
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 685.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 99,241 people
• By 2030: 104,927 · +5.7%
• By 2040: 116,079 · +17.0%
• By 2050: 127,293 · +28.3%
• By 2075: 155,644 · +56.8%
• By 2100: 176,488 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+30.9) · D 33.6% · R 64.5% · Other 1.9%
• 2008→2024 swing: -8.4pp toward R · 2008: -22.4pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.8 2016: R+31.2 2012: R+28.9 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.22%
• Current HPI: 286.6948
• Rent YoY: —
• Metro: Richmond-Berea, 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

-30.7% since first listed

21 events — show timeline

• 2026-06-11 Listing Removed — ImagineMLS
• 2026-05-11 Listed $90,000 ImagineMLS
• 2023-02-16 Sold (MLS) $57,000 ImagineMLS
• 2023-01-07 Pending — ImagineMLS
• 2022-12-05 Price Changed $74,000 ImagineMLS
• 2022-11-23 Listed $79,000 ImagineMLS
• 2018-11-04 Listing Removed — ImagineMLS
• 2018-10-11 Price Changed $92,500 ImagineMLS
• 2018-08-28 Price Changed $99,500 ImagineMLS
• 2018-08-03 Price Changed $105,000 ImagineMLS
• 2018-07-21 Price Changed $109,000 ImagineMLS
• 2018-07-13 Listed $119,000 ImagineMLS
• 2017-11-16 Sold (MLS) $83,500 ImagineMLS
• 2017-08-24 Pending — ImagineMLS
• 2017-08-17 Relisted — ImagineMLS
• 2017-08-17 Pending — ImagineMLS
• 2017-05-02 Listed $84,200 ImagineMLS
• 2017-04-30 Listing Removed — ImagineMLS
• 2017-03-24 Price Changed $97,500 ImagineMLS
• 2017-01-05 Price Changed $113,000 ImagineMLS
• 2016-12-01 Listed $129,900 ImagineMLS

Property tax history

+1.0%/yr

Latest (2017): $150 · +0.9% YoY. Source: county tax records.