1320 Riverside Dr · Prestonsburg, KY 41653

$149,000

2 bd · 1.0 ba · 1,104 sqft · Other public records · 163 Days on market

Built 1960 0.50 ac lot ↓ 18% since listing

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Why this score? — see what drove the D- 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 +8.5/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +1.8/10.0
• 1% rule +1.5/10.0

Listing remarks

Super excited to announce this gem! A completely remodeled 3 bed, 2 bath home, move-in ready! Enjoy a polished interior, with all new flooring and paint. A beautiful gas Fireplace in the Livingroom for cozy nights at home. An attached 1-car garage, and an absolutely great location right in town. Modern finishes, open layout, and move-in ease—everything you want, all in one perfect package. Don't miss this turnkey beauty!

Key facts

• Attached garage
• New flooring
• New paint

Tags

• REMODELED HOME
• NEW FLOORING
• NEW PAINT
• GAS FIREPLACE
• ATTACHED GARAGE
• MODERN FINISHES

Property features AI

Finance

• Other: Listing broker: Re/Max Freedom; Listing agent: Mary Wright (606-506-4179)

Exterior

• Parking: Attached garage with 1 garage space; Concrete parking surfaces
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Brick and vinyl siding exterior; Shingle roof
• Exterior features: Patio; Half-acre lot (0.5 acre); Residential zoning

Interior

• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Laminate; Tile; Vinyl
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Laminate, tile, and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $149k.

Deal economics

• At list price, monthly cash flow is $-132 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (35.3% below list).
• Recommended offer: $96k (35.3% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.3% in Prestonsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#327 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Floyd County (rural): math 13% / reading 32% proficiency, ranked #157 of 165 in KY (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Prestonsburg Elementary School (math 4% / reading 18%, grade F, #645 of 676 statewide, top 96%, 649 students, 80% FRL); Prestonsburg High School (math 17% / reading 32%, grade F, #179 of 254 statewide, top 78%, 492 students, 60% FRL).
• Market conditions: 48 active listings in the ZIP; 5 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.0% local appreciation)).
• Floyd County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,449 (35.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.79%
• DSCR: 0.83
• GRM: 12.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.87×
• Total profit: $-5,548
• Equity at exit: $51,011

10-year hold

• IRR: 2.4%
• Equity multiple: 1.29×
• Total profit: $12,217
• Equity at exit: $67,902

Cash invested: $41,720 (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 41653

• Home prices YoY: 0.5%
• Active inventory: 48
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $964 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$50 /mo · $605/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $-132

Break-even live

Break-even rent $1,131

Max offer price $125,695

Occupancy floor —

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-31
   statusdays on market $149,000 Pending 163 DOM
2. 2026-05-14
   price $149,000
3. 2026-05-01
   price $155,000
4. 2026-04-09
   price $164,000
5. 2026-03-28
   price $167,000
6. 2026-02-26
   price $169,000
7. 2026-01-31
   price $172,000
8. 2026-01-06
   price $175,000
9. 2025-12-18
   listed $182,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $605 · $50/mo
• Projected year-2 tax: $1,281 · $107/mo
• Expected delta: +$676/yr (+$56/mo · 111.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $11,574
• − Mortgage interest: −$8,346
• − Property taxes: −$605
• − Insurance: −$745
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$4,335
• Taxable loss: −$4,309
• Est. tax savings @ 24.0%: +$1,034
• After-tax cash flow: $-549/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: Floyd County
• NCES district ID: 2101950
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 32% ▼ -25.00%
• Median HH income: $29,638
• Composite: 17.97/100
• National rank: #8988
• State rank: #157 of 165 in KY

Livability — Prestonsburg

• Score: 63/100
• State rank: #327
• US rank: #15655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prestonsburg, KY
• Population (ZIP): 11,048

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 33,016 people
• By 2030: 30,683 · -7.1%
• By 2040: 25,378 · -23.1%
• By 2050: 21,013 · -36.4%
• By 2075: 14,361 · -56.5%
• By 2100: 10,464 · -68.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Scotch-Irish 1% Slovak 1% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Floyd

• 2024 margin: Solid R (+59.2) · D 19.6% · R 78.8% · Other 1.7%
• 2008→2024 swing: -57.9pp toward R · 2008: -1.3pp · 2024: -59.2pp
• All cycles: 2024: R+59.2 2020: R+51.2 2016: R+48.3 2012: R+33.9 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.02%
• Current HPI: 190.4943
• 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

-18.1% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $149,000 EKAR
• 2026-05-01 Price Changed $155,000 EKAR
• 2026-04-09 Price Changed $164,000 EKAR
• 2026-03-28 Price Changed $167,000 EKAR
• 2026-02-26 Price Changed $169,000 EKAR
• 2026-01-31 Price Changed $172,000 EKAR
• 2026-01-06 Price Changed $175,000 EKAR
• 2025-12-18 Listed $182,000 EKAR

Property tax history

+1.5%/yr

Latest (2025): $605 · -0.3% YoY. Source: county tax records.