4738 Camargo Levee Rd

Camargo, KY 40353

$464,900B-

9 bd · 9.0 ba · 6,000 sqft · Built — · MultiFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,087/mo
• Mortgage (P&I): −$2,438
• Tax + insurance: −$775
• HOA: −$0
• Vac / Maint / Mgmt: −$1,278
• Net cashflow: $1,596/mo
• Annual: $19,151/yr
• Cap rate: 10.41%
• Cash-on-cash: 14.71%
• DSCR: 1.65
• 1% rule: 1.31%
• Cash to close: $130,172

Investor read

• This is a 9-bed/9.0-bath multifamily listed at $465k.
• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $465k).
• It's been on market 28 days — a 2% lower offer ($458k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $458k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#307 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Montgomery County (rural): math 24% / reading 44% proficiency, ranked #76 of 165 in KY (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Camargo Elementary School (math 19% / reading 40%, grade F, #393 of 676 statewide, top 63%, 576 students, 64% FRL); Mcnabb Middle School (math 19% / reading 47%, grade F, #112 of 217 statewide, top 53%, 1,018 students, 55% FRL); Montgomery County High School (math 29% / reading 39%, grade F, #89 of 254 statewide, top 36%, 1,279 students, 47% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 114 active listings in the ZIP; 56 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 16y ago 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $130k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• At $6,087/mo this rent would consume 127% of the median local household income ($57k/yr) (locally 454% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.