2278 US 641 N · Eddyville, KY 42038

$189,900

2 bd · 2.0 ba · 1,352 sqft · Manufactured · 74 Days on market

Manufactured home Built 1986 Good condition 1.38 ac lot

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Why this score? — see what drove the C- 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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 2BR, 2BA manufactured home on permanent foundation. Step inside to the open concept floorplan into the living room with a wood burning fireplace, eat-in kitchen with appliances to stay, the spacious primary en-suite with tiled shower, jet tub and walk-in closet on one side and the other bedroom en-suite (currently used as a home office) is on the other side of the home. You can relax on the covered porches or take a swim in the 18ft above ground pool (new in 2021) and there is lots of room to store your lake toys in the 24x28 detached garage (built in 2023). Your pets can have a space of their own in the outside dog kennels (holds up to 5 dogs). All this is sitting in a peaceful and serene setting nestled on 1.38 acres and located approximately 4 miles to town. Priced to sell $199,000

Key facts

• Jet tub
• Eat-in kitchen
• Tiled shower

Tags

• OPEN CONCEPT FLOORPLAN
• WOOD BURNING FIREPLACE
• EAT-IN KITCHEN
• SPACIOUS PRIMARY EN-SUITE
• TILED SHOWER
• JET TUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.5% in Eddyville — 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 69/100 on livability (#174 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Lyon County (rural): math 45% / reading 52% proficiency, ranked #13 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lyon County Elementary School (math 42% / reading 57%, grade D, #100 of 676 statewide, top 16%, 457 students, 58% FRL); Lyon County Middle School (math 51% / reading 54%, grade C+, #16 of 217 statewide, top 7%, 243 students, 51% FRL); Lyon County High School (math 32% / reading 37%, grade F, #76 of 254 statewide, top 34%, 298 students, 46% FRL).
• Market conditions: 118 active listings in the ZIP; 3 units permitted in Lyon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lyon County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $178,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.01% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 8.2

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-17,753
• Equity at exit: $28,315

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,386
• Equity at exit: $16,419

Cash invested: $53,172 (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 42038

• Home prices YoY: -30.7%
• Active inventory: 118
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,919 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $204

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 84%

Sensitivity live

Price	-10% $335	-5% $270	+0% $204	+5% $138	+10% $73
Rent	-10% $52	-5% $128	+0% $204	+5% $280	+10% $356
Rate	-1.0pp $300	-0.5pp $252	base $204	+0.5pp $155	+1.0pp $105

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $189,900 Active 74 DOM
2. 2026-06-21
   days on market $189,900 Active 73 DOM
3. 2026-06-21
   days on market $189,900 Active 72 DOM
4. 2026-06-18
   days on market $189,900 Active 70 DOM
5. 2026-06-17
   days on market $189,900 Active 69 DOM
6. 2026-06-16
   days on market $189,900 Active 68 DOM
7. 2026-06-15
   days on market $189,900 Active 67 DOM
8. 2026-06-13
   days on market $189,900 Active 65 DOM
9. 2026-06-12
   days on market $189,900 Active 64 DOM
10. 2026-06-09
    days on market $189,900 Active 61 DOM
11. 2026-06-08
    days on market $189,900 Active 60 DOM
12. 2026-06-07
    days on market $189,900 Active 59 DOM
13. 2026-06-07
    days on market $189,900 Active 58 DOM
14. 2026-06-04
    days on market $189,900 Active 55 DOM
15. 2026-06-02
    days on market $189,900 Active 54 DOM
16. 2026-06-01
    days on market $189,900 Active 53 DOM
17. 2026-05-31
    days on market $189,900 Active 52 DOM
18. 2026-05-31
    days on market $189,900 Active 51 DOM
19. 2026-04-10
    listed $199,000 Active 800-char remark

    Show marketing remark (800 chars)

    Cozy 2BR, 2BA manufactured home on permanent foundation. Step inside to the open concept floorplan into the living room with a wood burning fireplace, eat-in kitchen with appliances to stay, the spacious primary en-suite with tiled shower, jet tub and walk-in closet on one side and the other bedroom en-suite (currently used as a home office) is on the other side of the home. You can relax on the covered porches or take a swim in the 18ft above ground pool (new in 2021) and there is lots of room to store your lake toys in the 24x28 detached garage (built in 2023). Your pets can have a space of their own in the outside dog kennels (holds up to 5 dogs). All this is sitting in a peaceful and serene setting nestled on 1.38 acres and located approximately 4 miles to town. Priced to sell $199,000

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,033
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − Depreciation: −$5,524
• Taxable loss: −$612
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $2,594/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 · 13 photos

Good 75/100 Cosmetic rehab

A well-maintained manufactured home with good condition and minimal repairs needed. Fresh paint and landscaping improvements would significantly enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint enhances curb appeal
• Both Landscaping improvements — Enhances curb appeal and adds value
• Rental Replace ceiling fans — Modernize and improve comfort

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint enhances curb appeal ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Rental Replace ceiling fans — Modernize and improve comfort ↑

ⓘ 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: Lyon County
• NCES district ID: 2103690
• Math proficiency: 45% ▼ -15.00%
• Reading proficiency: 52% ▼ -13.00%
• Median HH income: $43,899
• Composite: 40.94/100
• National rank: #3607
• State rank: #13 of 165 in KY

Livability — Eddyville

• Score: 69/100
• State rank: #174
• US rank: #8755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,045

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 8,330 people
• By 2030: 8,308 · -0.3%
• By 2040: 8,196 · -1.6%
• By 2050: 8,069 · -3.1%
• By 2075: 8,131 · -2.4%
• By 2100: 6,856 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Serbian 2% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+53.4) · D 22.7% · R 76.1% · Other 1.2%
• 2008→2024 swing: -36.8pp toward R · 2008: -16.7pp · 2024: -53.4pp
• All cycles: 2024: R+53.4 2020: R+47.5 2016: R+44.0 2012: R+27.1 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.82%
• Current HPI: 148.5677
• Rent YoY: —
• Metro: —
• 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

Price history

1 event — show timeline

• 2026-04-10 Listed $199,000 WKRMLS