2824 Blueberry Lane Ln

Masonville, KY 52376

$124,500A-

3 bd · 1.0 ba · 1,200 sqft · Built 1971 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$653
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $613/mo
• Annual: $7,355/yr
• Cap rate: 12.20%
• Cash-on-cash: 21.10%
• DSCR: 1.94
• 1% rule: 1.45%
• Cash to close: $34,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($861 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 67/100 on livability (#213 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Daviess County (suburban): math 33% / reading 41% proficiency, ranked #43 of 165 in KY (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Deer Park Elementary School (math 42% / reading 37%, grade F, #208 of 676 statewide, top 34%, 480 students, 58% FRL); College View Middle School (math 24% / reading 39%, grade F, #125 of 217 statewide, top 63%, 863 students, 50% FRL); Daviess County High School (math 40% / reading 41%, grade F, #37 of 254 statewide, top 15%, 1,740 students, 42% FRL).
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.2% vs local median 4.2% in Masonville — 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

• Built in 1971 — 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 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.