1050 Highway 44 W #132 · Shepherdsville, KY 40165

$60,700

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 24 Days on market

Built 2026 Fair condition

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as community events, , and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 24 days

Property features AI

Finance

• Other: Plan name 91296; Listing last modified May 28, 2026
• Financial info: List price: $60,200

Exterior

• Utilities: Electric power and central air
• Home design: Spec inventory type; Active status
• Exterior features: Address: 1050 Highway 44 W #132, Shepherdsville, KY 40165

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Living area of 1,152 (listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $61k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $625 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $61k).
• Recommended offer: $60k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.1% vs local median 3.5% in Shepherdsville — 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.

Location & tenants

• Location reads 73/100 on livability (#119 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F.
• Bullitt County (suburban): math 29% / reading 41% proficiency, ranked #55 of 165 in KY (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shepherdsville Elementary (math 21% / reading 31%, grade F, #473 of 676 statewide, top 70%, 516 students, 72% FRL); Bullitt Lick Middle School (math 17% / reading 32%, grade F, #189 of 217 statewide, top 89%, 461 students, 67% FRL); Bullitt Central High School (math 28% / reading 25%, grade F, #174 of 254 statewide, top 69%, 1,363 students, 53% FRL) — zoned schools average 64% FRL vs 41% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 270 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 380 units permitted in Bullitt County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $420 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bullitt County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($60k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,789 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 3.07% ✓
• Cap rate: 27.07%
• Cash-on-cash: 74.22%
• DSCR: 4.30
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.3%
• Equity multiple: 2.78×
• Total profit: $30,239
• Equity at exit: $9,051

10-year hold

• IRR: 47.6%
• Equity multiple: 5.63×
• Total profit: $78,739
• Equity at exit: $5,248

Cash invested: $16,996 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40165

• Home prices YoY: -26.9%
• Active inventory: 270
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,862 medium
• Mortgage (P&I): −$318
• Tax est. 1.5%: −$76 /mo · $910/yr
• Insurance: −$25
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $625

Break-even live

Break-even rent $1,071

Max offer price $60,700

Occupancy floor 61%

Sensitivity live

Price	-10% $667	-5% $646	+0% $625	+5% $604	+10% $583
Rent	-10% $478	-5% $551	+0% $625	+5% $698	+10% $772
Rate	-1.0pp $655	-0.5pp $640	base $625	+0.5pp $609	+1.0pp $593

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $15,175
• Closing costs: $1,821
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Mud Hen Dr Shepherdsville, KY	3.0	2.0	1042	$1,695	$1.63	18d	1	0.56mi
1701 Saltwell Springs Cir Shepherdsville, KY	1.0–3.0	1.0–2.5	1075	$2,275	$2.12	25d	1	0.57mi
309 Shannon Ln Unit SL8 Shepherdsville, KY	2.0	1.0	900	$1,100	$1.22	25d	1	0.84mi
309 Shannon Ln Unit SL1 Shepherdsville, KY	2.0	1.0	900	$1,100	$1.22	17d	1	0.84mi

Listing history 14 events

1. 2026-06-21
   days on market $60,700 Active 24 DOM
2. 2026-06-18
   days on market $60,700 Active 21 DOM
3. 2026-06-17
   days on market $60,700 Active 20 DOM
4. 2026-06-16
   days on market $60,700 Active 19 DOM
5. 2026-06-15
   days on market $60,700 Active 18 DOM
6. 2026-06-13
   days on market $60,700 Active 16 DOM
7. 2026-06-10
   days on market $60,700 Active 13 DOM
8. 2026-06-09
   days on market $60,700 Active 12 DOM
9. 2026-06-08
   days on market $60,700 Active 11 DOM
10. 2026-06-07
    days on market $60,700 Active 10 DOM
11. 2026-06-03
    days on market $60,700 Active 6 DOM
12. 2026-06-02
    days on market $60,700 Active 5 DOM
13. 2026-06-01
    pricedays on market $60,700 Active 4 DOM
14. 2026-05-31
    days on market $60,200 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,339
• − Mortgage interest: −$3,400
• − Property taxes: −$910
• − Insurance: −$5,422
• − Repairs & maintenance: −$1,787
• − Management: −$1,787
• − Depreciation: −$1,766
• Taxable income: $7,267
• Est. tax owed @ 24.0%: −$1,744
• After-tax cash flow: $5,752/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 0 photos

Fair 40/100 Moderate rehab

This manufactured home requires significant renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen countertops and cabinets — The countertops and cabinets are visibly worn and need replacement.
• Major Bathroom fixtures — The bathroom fixtures are outdated and need replacement.
• Major Flooring — The flooring is worn and may need replacement.
• Major Interior walls — The interior walls need repainting to improve appearance.
• Major Exterior siding — The exterior siding needs repainting or replacement.
• Major Windows — The windows are old and need replacement.

Value-add opportunities

• Resale Kitchen renovation — A new kitchen will attract more buyers and increase the home's value.
• Resale Bathroom updates — Modern bathrooms will appeal to potential buyers and increase the home's value.
• Resale Flooring replacement — New flooring will improve the home's appearance and increase its value.
• Resale Exterior painting — A fresh coat of paint will enhance the home's curb appeal and increase its value.
• Rental HVAC maintenance — A well-maintained HVAC system will attract renters and improve the home's rental value.
• Both Landscaping improvements — Enhanced landscaping will improve the home's curb appeal and attract both buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · The countertops and cabinets are visibly worn and need replacement.	Major	$15,000–50,000
Bathroom fixtures · The bathroom fixtures are outdated and need replacement.	Major	$15,000–50,000
Flooring · The flooring is worn and may need replacement.	Major	$15,000–50,000
Interior walls · The interior walls need repainting to improve appearance.	Major	$15,000–50,000
Exterior siding · The exterior siding needs repainting or replacement.	Major	$15,000–50,000
Windows · The windows are old and need replacement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Kitchen renovation — A new kitchen will attract more buyers and increase the home's value. ↑
• Resale Bathroom updates — Modern bathrooms will appeal to potential buyers and increase the home's value. ↑
• Resale Flooring replacement — New flooring will improve the home's appearance and increase its value. ↑
• Resale Exterior painting — A fresh coat of paint will enhance the home's curb appeal and increase its value. ↑
• Rental HVAC maintenance — A well-maintained HVAC system will attract renters and improve the home's rental value. ↑
• Both Landscaping improvements — Enhanced landscaping will improve the home's curb appeal and attract both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bullitt County
• NCES district ID: 2100750
• Math proficiency: 29% ▼ -15.00%
• Reading proficiency: 41% ▼ -14.00%
• Median HH income: $55,009
• Composite: 30.78/100
• National rank: #6151
• State rank: #55 of 165 in KY

Livability — Shepherdsville

• Score: 73/100
• State rank: #119
• US rank: #5674

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment B- Housing A+ Health & safety B User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shepherdsville, KY
• County: Bullitt County · 62,065 people
• City population: 38,403
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 38,403
• Household income: $79,540
• Rent vs Own: 17.3% rent · 82.7% own
• Severe rent burden: 800.0

Population outlook (Bullitt County) Hauer SSP2

• Today (2025): 89,555 people
• By 2030: 94,389 · +5.4%
• By 2040: 102,759 · +14.7%
• By 2050: 108,955 · +21.7%
• By 2075: 121,898 · +36.1%
• By 2100: 126,383 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Italian 2% Iranian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Bullitt

• 2024 margin: Solid R (+51.0) · D 23.8% · R 74.8% · Other 1.4%
• 2008→2024 swing: -18.7pp toward R · 2008: -32.3pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+48.0 2016: R+49.8 2012: R+35.7 2008: R+32.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.91%
• Current HPI: 247.1595
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-IN
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B