9612 Westport Rd Apt 11

Rolling Hills, KY 40241

$100,000C-

2 bd · 1.0 ba · 899 sqft · Built 1979 · Condo · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,414/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$112
• HOA: −$400
• Vac / Maint / Mgmt: −$297
• Net cashflow: $81/mo
• Annual: $969/yr
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• 1% rule: 1.41%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath condo listed at $100k.
• At list price, monthly cash flow is $81 ($969/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 37 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 94/100 on livability (#4 in KY, #11 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+.
• Jefferson County (urban): math 19% / reading 35% proficiency, ranked #121 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Zachary Taylor Elementary (math 8% / reading 27%, grade F, #602 of 676 statewide, top 90%, 301 students, 68% FRL); Westport Middle (math 16% / reading 38%, grade F, #172 of 217 statewide, top 80%, 1,177 students, 55% FRL); Waggener High (math 8% / reading 27%, grade F, #221 of 254 statewide, top 87%, 863 students, 66% FRL).
• Watch-outs: HOA is 28% of rent.
• Market conditions: Rents rising (+3.1%/yr); 113 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 12y 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.
• Current owner paid $85k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.