1514 Helena Rd

Flemingsburg, KY 41041

$120,000C

2 bd · 1.0 ba · 1,344 sqft · Built 1967 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $957/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $34/mo
• Annual: $402/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• 1% rule: 0.80%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $34 ($402/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 $96k (20.3% below list).
• It's been on market 35 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (20.3% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($830 loan paydown + $10k appreciation (8.0% local appreciation)).
• Location reads 67/100 on livability (#221 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Fleming County (rural): math 26% / reading 41% proficiency, ranked #83 of 165 in KY (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Simons Middle School (math 26% / reading 43%, grade F, #99 of 217 statewide, top 47%, 325 students, 65% FRL); Fleming County High School (math 27% / reading 32%, grade F, #127 of 254 statewide, top 58%, 654 students, 54% FRL).
• Market conditions: 43 active listings in the ZIP; 2 units permitted in Fleming County in 2024 (0 in 5+ unit buildings).
• At projected returns (8.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.6% vs local median 2.7% in Flemingsburg — 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 35 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1967 — 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.
• 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.