15 Harlan Rd

Nancy, KY 42544

$79,900B-

1 bd · 1.0 ba · 420 sqft · Built 2024 · Other · Contingent · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $988/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $267/mo
• Annual: $3,200/yr
• Cap rate: 10.30%
• Cash-on-cash: 14.31%
• DSCR: 1.64
• 1% rule: 1.24%
• Cash to close: $22,372

Investor read

• This is a 1-bed/1.0-bath other listed at $80k. Condition is rated good.
• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $80k).
• It's been on market 115 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• In year one you build about $509 of equity ($552 loan paydown + $-43 appreciation (-0.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Russell County (rural): math 29% / reading 43% proficiency, ranked #67 of 165 in KY (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Russell Springs Elementary School (math 25% / reading 40%, grade F, #342 of 676 statewide, top 51%, 625 students, 73% FRL); Russell County Middle School (math 29% / reading 47%, grade F, #71 of 217 statewide, top 33%, 677 students, 69% FRL); Russell County High School (math 32% / reading 42%, grade F, #58 of 254 statewide, top 27%, 832 students, 64% FRL).
• Market conditions: 172 active listings in the ZIP.
• Russell County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $30k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 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.