60 Red Bird Ln · Worthville, KY 41098

$59,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 60 Days on market

Built 1994 0.49 ac lot $78/sqft · 14% above area Est $67k · 10% under $17/mo HOA · 2% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +12.1/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Appreciation +3.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Here is a newly updated 2bed 1bath home located on a spacious, level half acre that is a total of 3 lots. There is plenty of space to entertain under the large awning and the lot and the home has been newly remodeled and is ready for you to purchase your very own slice of Eagle Creek Resort. Call today to schedule your private showing!

Key facts

• Large awning
• Newly remodeled
• 0.49 acre lot

Tags

• SPACIOUS LEVEL HALF ACRE
• LARGE AWNING
• NEWLY REMODELED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($848 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#496 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, amenities F, commute F.
• Owen County (rural): math 24% / reading 32% proficiency, ranked #120 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 13 active listings in the ZIP; 18 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.7%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Owen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.28%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $66,755
• List price: $59,900
• Delta: -10.27%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-2.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.54×
• Total profit: $8,988
• Equity at exit: $9,618

10-year hold

• IRR: 21.7%
• Equity multiple: 2.88×
• Total profit: $31,610
• Equity at exit: $6,366

Cash invested: $16,772 (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 41098

• Home prices YoY: -1.5%
• Active inventory: 13
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $848 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$25
• HOA: −$17
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $283

Break-even live

Break-even rent $489

Max offer price $59,900

Occupancy floor 62%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 19 events

1. 2026-06-19
   days on market $59,900 Active 60 DOM
2. 2026-06-18
   days on market $59,900 Active 59 DOM
3. 2026-06-17
   days on market $59,900 Active 58 DOM
4. 2026-06-16
   days on market $59,900 Active 57 DOM
5. 2026-06-15
   days on market $59,900 Active 56 DOM
6. 2026-06-14
   days on market $59,900 Active 54 DOM
7. 2026-06-12
   days on market $59,900 Active 53 DOM
8. 2026-06-09
   days on market $59,900 Active 50 DOM
9. 2026-06-08
   days on market $59,900 Active 49 DOM
10. 2026-06-07
    days on market $59,900 Active 48 DOM
11. 2026-06-05
    days on market $59,900 Active 45 DOM
12. 2026-06-03
    days on market $59,900 Active 44 DOM
13. 2026-06-02
    days on market $59,900 Active 43 DOM
14. 2026-06-01
    days on market $59,900 Active 42 DOM
15. 2026-05-31
    days on market $59,900 Active 41 DOM
16. 2026-05-30
    days on market $59,900 Active 40 DOM
17. 2026-04-20
    listed $59,900 Active 337-char remark

    Show marketing remark (337 chars)

    Here is a newly updated 2bed 1bath home located on a spacious, level half acre that is a total of 3 lots. There is plenty of space to entertain under the large awning and the lot and the home has been newly remodeled and is ready for you to purchase your very own slice of Eagle Creek Resort. Call today to schedule your private showing!

18. 2014-07-10
    historical
19. 2013-07-10
    listed $28,000

ⓘ 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: $362 · $30/mo
• Projected year-2 tax: $515 · $43/mo
• Expected delta: +$154/yr (+$13/mo · 42.5%)

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

Taxation est. · year 1

• Rental income: $10,172
• − Mortgage interest: −$3,355
• − Property taxes: −$362
• − Insurance: −$300
• − Repairs & maintenance: −$814
• − Management: −$814
• − HOA: −$204
• − Depreciation: −$1,743
• Taxable income: $2,582
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $2,782/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: Owen County
• NCES district ID: 2104560
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 32% ▼ -18.00%
• Median HH income: $42,943
• Composite: 23.84/100
• National rank: #7804
• State rank: #120 of 165 in KY

Livability — Worthville

• Score: 52/100
• State rank: #496
• US rank: #25028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,138

Population outlook (Owen County) Hauer SSP2

• Today (2025): 10,496 people
• By 2030: 10,251 · -2.3%
• By 2040: 9,650 · -8.1%
• By 2050: 8,984 · -14.4%
• By 2075: 7,589 · -27.7%
• By 2100: 6,380 · -39.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 9%
• Common ancestry: Iranian 5% Slovak 4% Italian 4%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+62.7) · D 18.0% · R 80.7% · Other 1.3%
• 2008→2024 swing: -35.9pp toward R · 2008: -26.8pp · 2024: -62.7pp
• All cycles: 2024: R+62.7 2020: R+58.5 2016: R+53.7 2012: R+32.3 2008: R+26.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.74%
• Current HPI: 177.3618
• 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

+113.9% since first listed

3 events — show timeline

• 2026-04-20 Listed $59,900 NKMLS
• 2014-07-10 Listing Removed — NKMLS
• 2013-07-10 Listed $28,000 NKMLS

Property tax history

+3.1%/yr

Latest (2025): $362 · +2.5% YoY. Source: county tax records.