4625 Bardstown Rd

Chaplin, KY 40342

$135,000C

3 bd · 2.0 ba · 1,232 sqft · Built 1974 · SingleFamily · Active · 353 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,459/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $341/mo
• Annual: $4,091/yr
• Cap rate: 9.32%
• Cash-on-cash: 10.82%
• DSCR: 1.48
• 1% rule: 1.08%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• It's been on market 353 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#455 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Anderson County (town): math 32% / reading 41% proficiency, ranked #46 of 165 in KY (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robert B. Turner Elementary School (math 46% / reading 43%, grade F, #148 of 676 statewide, top 24%, 534 students, 40% FRL); Anderson County Middle School (math 28% / reading 45%, grade F, #90 of 217 statewide, top 41%, 818 students, 46% FRL); Anderson County High School (math 37% / reading 42%, grade F, #40 of 254 statewide, top 19%, 1,189 students, 40% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 222 active listings in the ZIP; 72 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• 2 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.
• Current owner paid $42k; list at $135k implies a 221% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 353 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.