10331 Hwy 231 · Pleasant Ridge, KY 42376

$189,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured · 48 Days on market

Built 1999 Good condition ↓ 5% 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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 10331 Hwy 231 in Utica, KY, the one you’ve been waiting for! This charming 3 bedroom, 2 full bathroom home sits back off the road on a little over an acre, giving you the perfect mix of privacy, space, and convenience. Inside, you’ll love the functional split-bedroom concept, offering a private primary suite separate from the additional bedrooms. The home has a comfortable layout that makes everyday living easy, with room to relax, gather, and make it your own. Outside is where this property really shines! Enjoy a fenced-in backyard, a storage building, and a large detached building with concrete floors and electric, perfect for a workshop, hobbies, storage, equipment

Key facts

• Built 1999
• Listed 48 days

Property features AI

Exterior

• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Manufactured home (single-family); 1 story
• Construction: Vinyl siding
• Exterior features: Porch; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Ceiling fan(s)
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $28 ($335/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (6.2% below list).
• Recommended offer: $178k (6.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Daviess County (suburban): math 33% / reading 41% proficiency, ranked #43 of 165 in KY (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Deer Park Elementary School (math 42% / reading 37%, grade F, #208 of 676 statewide, top 34%, 480 students, 58% FRL); College View Middle School (math 24% / reading 39%, grade F, #125 of 217 statewide, top 63%, 863 students, 50% FRL); Daviess County High School (math 40% / reading 41%, grade F, #37 of 254 statewide, top 15%, 1,740 students, 42% FRL).
• Market conditions: 52 active listings in the ZIP; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,063 (6.2% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.94% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-28,928
• Equity at exit: $28,315

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-22,628
• Equity at exit: $16,419

Cash invested: $53,172 (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 42376

• Home prices YoY: -24.9%
• Active inventory: 52
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,781 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $28

Break-even live

Break-even rent $1,745

Max offer price $189,900

Occupancy floor 93%

Sensitivity live

Price	-10% $159	-5% $94	+0% $28	+5% $-38	+10% $-103
Rent	-10% $-113	-5% $-42	+0% $28	+5% $98	+10% $169
Rate	-1.0pp $124	-0.5pp $76	base $28	+0.5pp $-21	+1.0pp $-71

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $189,900 Active 48 DOM
2. 2026-06-19
   days on market $189,900 Active 46 DOM
3. 2026-06-18
   days on market $189,900 Active 45 DOM
4. 2026-06-17
   days on market $189,900 Active 44 DOM
5. 2026-06-16
   days on market $189,900 Active 43 DOM
6. 2026-06-15
   days on market $189,900 Active 42 DOM
7. 2026-06-14
   days on market $189,900 Active 40 DOM
8. 2026-06-13
   days on market $189,900 Active 39 DOM
9. 2026-06-10
   days on market $189,900 Active 37 DOM
10. 2026-06-09
    days on market $189,900 Active 36 DOM
11. 2026-06-08
    days on market $189,900 Active 35 DOM
12. 2026-06-07
    days on market $189,900 Active 34 DOM
13. 2026-06-05
    days on market $189,900 Active 31 DOM
14. 2026-06-03
    days on market $189,900 Active 30 DOM
15. 2026-06-02
    days on market $189,900 Active 29 DOM
16. 2026-06-01
    days on market $189,900 Active 28 DOM
17. 2026-05-31
    days on market $189,900 Active 27 DOM
18. 2026-05-30
    days on market $189,900 Active 26 DOM
19. 2026-05-20
    price $199,900
20. 2026-05-12
    price $204,900
21. 2026-05-04
    listed $209,900 Active

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,368
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$1,747
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$5,524
• Taxable loss: −$2,808
• Est. tax savings @ 24.0%: +$674
• After-tax cash flow: $1,009/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with a good condition score of 75. It has a good kitchen, bathrooms, and exterior. The home is move-in ready with minor maintenance items to address.

Value-add opportunities

• Resale painting — Fresh paint can make a home look more inviting and modern.
• Both landscaping — Landscaping can enhance curb appeal and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Resale painting — Fresh paint can make a home look more inviting and modern. ↑
• Both landscaping — Landscaping can enhance curb appeal and add value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Daviess County
• NCES district ID: 2101470
• Math proficiency: 33% ▼ -17.00%
• Reading proficiency: 41% ▼ -16.00%
• Median HH income: $52,303
• Composite: 32.2/100
• National rank: #5778
• State rank: #43 of 165 in KY

Livability — Pleasant Ridge

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Pleasant Ridge, KY
• Population (ZIP): 6,800

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 103,810 people
• By 2030: 105,722 · +1.8%
• By 2040: 108,731 · +4.7%
• By 2050: 110,295 · +6.2%
• By 2075: 113,056 · +8.9%
• By 2100: 106,257 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada, South Korea

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: -10.1pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+27.9 2016: R+32.2 2012: R+21.1 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.02%
• Current HPI: 229.5493
• 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

-4.8% since first listed

3 events — show timeline

• 2026-05-20 Price Changed $199,900 GORAMLS
• 2026-05-12 Price Changed $204,900 GORAMLS
• 2026-05-04 Listed $209,900 GORAMLS