1777 KY Highway 36 W

Lamb, IN 41008

$63,000B+

2 bd · 1.5 ba · 2,595 sqft · Built — · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,055/mo
• Mortgage (P&I): −$330
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $346/mo
• Annual: $4,152/yr
• Cap rate: 13.94%
• Cash-on-cash: 27.32%
• DSCR: 2.22
• 1% rule: 1.67%
• Cash to close: $17,640

Investor read

• This is a 2-bed/1.5-bath single-family listed at $63k.
• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• It's been on market 39 days — a 3% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($436 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Carroll County (town): math 12% / reading 23% proficiency, ranked #163 of 165 in KY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 3 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.