11935 Kentucky 192

Somerset, KY 42501

$40,000F

None bd · 1.0 ba · — sqft · Built 1970 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $0/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$32
• HOA: −$0
• Vac / Maint / Mgmt: −$0
• Net cashflow: $-242/mo
• Annual: $-2,904/yr
• Cap rate: -0.97%
• Cash-on-cash: -25.93%
• DSCR: -0.15
• 1% rule: 0.00%
• Cash to close: $11,200

Investor read

• This is a ?-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#208 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety B+, crime B; Watch: schools D+, amenities F, commute F.
• Pulaski County (town): math 43% / reading 53% proficiency, ranked #17 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 192 active listings in the ZIP; 117 units permitted in Pulaski County in 2024 (50 in 5+ unit buildings).
• 3 sale attempts; this cycle's ask has dropped $50k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate -1.0% vs local median 3.1% in Somerset — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 1970 — 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.