71 Log Cabin Ln

Ewing, KY 41039

$119,900C-

2 bd · 2.0 ba · 1,280 sqft · Built 1997 · Other · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,055/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $133/mo
• Annual: $1,599/yr
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• 1% rule: 0.88%
• Cash to close: $33,572

Investor read

• This is a 2-bed/2.0-bath other listed at $120k.
• At list price, monthly cash flow is $133 ($2k/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 $105k (12.0% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $105k (12.0% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($829 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#443 in KY) — a working-class tenant base; expect higher turnover. Strengths: 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: Ewing Elementary School (math 22% / reading 42%, grade F, #348 of 676 statewide, top 55%, 343 students, 58% FRL); 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: 13 active listings in the ZIP; 2 units permitted in Fleming County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• 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.