1206 W Shelby St

Falmouth, KY 41040

$92,900B

3 bd · 2.0 ba · 1,248 sqft · Built — · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,185/mo
• Mortgage (P&I): −$487
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $294/mo
• Annual: $3,527/yr
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• 1% rule: 1.28%
• Cash to close: $26,012

Investor read

• This is a 3-bed/2.0-bath single-family listed at $93k. Condition is rated good.
• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($642 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#183 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: commute F, employment F.
• Pendleton County (rural): math 23% / reading 35% proficiency, ranked #110 of 165 in KY (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Northern Elementary School (math 31% / reading 45%, grade F, #242 of 676 statewide, top 37%, 493 students, 54% FRL); Phillip Sharp Middle School (math 17% / reading 31%, grade F, #194 of 217 statewide, top 90%, 497 students, 61% FRL); Pendleton County High School (math 22% / reading 42%, grade F, #97 of 254 statewide, top 46%, 698 students, 57% FRL).
• Market conditions: 53 active listings in the ZIP.
• Pendleton County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 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.