150 Elswick Br · Virgie, KY 41538

$85,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 21 Days on market

Built 1940 1.17 ac lot $98/sqft · 27% below area Est $116k · 27% under

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Appreciation +5.0/10.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This one is a true charmer. Approx. 20 minutes from downtown Pikeville. The minute you walk in you feel at home. Immaculate and move in ready, this two bedroom, one bath home is sure to please. Open concept with lots of natural lightening. Plenty of outside space for the kids to play or add a garden. Call today!

Key facts

• Open concept
• Outside space
• Natural lightening

Tags

• OPEN CONCEPT
• NATURAL LIGHTENING
• OUTSIDE SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $18 ($219/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($851 rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#468 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime C-, schools F, amenities F.
• Pike County (rural): math 24% / reading 40% proficiency, ranked #98 of 165 in KY (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 4 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.0% local appreciation)).
• Pike County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $58k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.00% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $116,080
• List price: $85,000
• Delta: -26.77%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.4%
• Equity multiple: 1.48×
• Total profit: $11,458
• Equity at exit: $38,220

10-year hold

• IRR: 11.0%
• Equity multiple: 2.65×
• Total profit: $39,243
• Equity at exit: $58,901

Cash invested: $23,800 (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 41538

• Active inventory: 10
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $851 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $18

Break-even live

Break-even rent $828

Max offer price $85,000

Occupancy floor 93%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-11
   status Active 313-char remark

   Show marketing remark (313 chars)

   This one is a true charmer. Approx. 20 minutes from downtown Pikeville. The minute you walk in you feel at home. Immaculate and move in ready, this two bedroom, one bath home is sure to please. Open concept with lots of natural lightening. Plenty of outside space for the kids to play or add a garden. Call today!

2. 2026-04-30
   status Pending 313-char remark

   Show marketing remark (313 chars)

   This one is a true charmer. Approx. 20 minutes from downtown Pikeville. The minute you walk in you feel at home. Immaculate and move in ready, this two bedroom, one bath home is sure to please. Open concept with lots of natural lightening. Plenty of outside space for the kids to play or add a garden. Call today!

3. 2026-04-28
   status Active 313-char remark

   Show marketing remark (313 chars)

   This one is a true charmer. Approx. 20 minutes from downtown Pikeville. The minute you walk in you feel at home. Immaculate and move in ready, this two bedroom, one bath home is sure to please. Open concept with lots of natural lightening. Plenty of outside space for the kids to play or add a garden. Call today!

4. 2026-04-26
   status Pending 313-char remark

   Show marketing remark (313 chars)

   This one is a true charmer. Approx. 20 minutes from downtown Pikeville. The minute you walk in you feel at home. Immaculate and move in ready, this two bedroom, one bath home is sure to please. Open concept with lots of natural lightening. Plenty of outside space for the kids to play or add a garden. Call today!

5. 2026-04-22
   listed $85,000 Active 313-char remark

   Show marketing remark (313 chars)

   This one is a true charmer. Approx. 20 minutes from downtown Pikeville. The minute you walk in you feel at home. Immaculate and move in ready, this two bedroom, one bath home is sure to please. Open concept with lots of natural lightening. Plenty of outside space for the kids to play or add a garden. Call today!

6. 2010-08-04
   soldstatus $57,500

ⓘ 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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,210
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$1,222
• − Repairs & maintenance: −$817
• − Management: −$817
• − Depreciation: −$2,473
• Taxable loss: −$1,155
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $497/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.

Schools (NCES district)

• District: Pike County
• NCES district ID: 2104800
• Math proficiency: 24% ▼ -24.00%
• Reading proficiency: 40% ▼ -20.00%
• Median HH income: $32,601
• Composite: 26.14/100
• National rank: #7276
• State rank: #98 of 165 in KY

Livability — Virgie

• Score: 55/100
• State rank: #468
• US rank: #23365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 350

Population outlook (Pike County) Hauer SSP2

• Today (2025): 55,108 people
• By 2030: 51,235 · -7.0%
• By 2040: 43,573 · -20.9%
• By 2050: 36,797 · -33.2%
• By 2075: 24,330 · -55.9%
• By 2100: 15,611 · -71.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%

Political lean MEDSL · Pike

• 2024 margin: Solid R (+65.4) · D 16.8% · R 82.2%
• 2008→2024 swing: -51.6pp toward R · 2008: -13.8pp · 2024: -65.4pp
• All cycles: 2024: R+65.4 2020: R+60.7 2016: R+62.8 2012: R+50.5 2008: R+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+47.8% since first listed

6 events — show timeline

• 2026-05-11 Relisted — EKAR
• 2026-04-30 Pending — EKAR
• 2026-04-28 Relisted — EKAR
• 2026-04-26 Pending — EKAR
• 2026-04-22 Listed $85,000 EKAR
• 2010-08-04 Sold (Public Records) $57,500 Public Records

Property tax history

-9.0%/yr

Latest (2025): $48 · +0.0% YoY. Source: county tax records.