3092 Cane Ridge Rd · North Middletown, KY 40361

$135,000

3 bd · 1.0 ba · 1,135 sqft · Other public records · 31 Days on market

0.72 ac lot

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Why this score? — see what drove the C 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home in the country has lots to offer!!! Currently rented for $1000.00 per month this 1130 +/- sq. ft. 3 bedroom / 1 bath home has had major updates!!! NEW addition on the rear of the house that includes a NEW eat in kitchen, New septic system, New windows, New roof and NEW HVAC. In the spacious back yard there is a 1.5 car garage for all your storage needs. This home is part of a 10 property portfolio and can be purchased as a package or separately. Buyer or buyer agent to verify schools and sq. ft.

Key facts

• New hvac
• 1.5 car garage
• New septic system

Tags

• NEW SEPTIC SYSTEM
• NEW WINDOWS
• NEW ROOF
• NEW HVAC
• SPACIOUS BACK YARD
• 1.5 CAR GARAGE

Property features AI

Finance

• Other: Lot about 0.72 acre (public records)

Exterior

• Parking: Detached garage; Off-street parking; Garage faces front
• Utilities: Septic tank; Electricity connected; Water connected
• Home design: House; One story
• Construction: Vinyl siding; Shingle roof; Block and stone foundation; Built area approximately 1,135 total
• Exterior features: Public water; Not on waterfront

Interior

• Kitchen: Refrigerator; Range
• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Insulated windows; 6 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $135k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#409 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Bourbon County (town): math 26% / reading 32% proficiency, ranked #108 of 165 in KY (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bourbon Central Elementary School (math 32% / reading 27%, grade F, #393 of 676 statewide, top 63%, 483 students, 70% FRL); Bourbon County Middle School (math 25% / reading 38%, grade F, #125 of 217 statewide, top 63%, 593 students, 63% FRL); Bourbon County High School (math 27% / reading 32%, grade F, #127 of 254 statewide, top 58%, 790 students, 53% FRL).
• Market conditions: 126 active listings in the ZIP; 90 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.
• Current owner paid $18k; list at $135k implies a 630% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. 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?
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: 1.09% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.58%
• DSCR: 1.52
• GRM: 7.6

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,896
• Equity at exit: $20,129

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $21,862
• Equity at exit: $11,672

Cash invested: $37,800 (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 40361

• Home prices YoY: -23.1%
• Active inventory: 126
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,472 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$34 /mo · $411/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $298

Break-even live

Break-even rent $1,095

Max offer price $135,000

Occupancy floor 75%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $135,000 Active 31 DOM
2. 2026-06-17
   days on market $135,000 Active 30 DOM
3. 2026-06-16
   days on market $135,000 Active 29 DOM
4. 2026-06-15
   days on market $135,000 Active 28 DOM
5. 2026-06-14
   days on market $135,000 Active 26 DOM
6. 2026-06-13
   days on market $135,000 Active 25 DOM
7. 2026-06-10
   days on market $135,000 Active 23 DOM
8. 2026-06-09
   days on market $135,000 Active 22 DOM
9. 2026-06-08
   days on market $135,000 Active 21 DOM
10. 2026-06-07
    days on market $135,000 Active 20 DOM
11. 2026-06-03
    days on market $135,000 Active 16 DOM
12. 2026-06-02
    days on market $135,000 Active 15 DOM
13. 2026-06-01
    days on market $135,000 Active 14 DOM
14. 2026-05-31
    days on market $135,000 Active 13 DOM
15. 2026-05-31
    days on market $135,000 Active 12 DOM
16. 2026-05-18
    listed $135,000 Active
17. 2022-08-13
    status Pending
18. 2022-08-13
    soldstatus $18,500 Closed
19. 2022-08-12
    listed $18,500 Active
20. 1993-06-25
    soldstatus $25,000

ⓘ 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: $411 · $34/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$750/yr (+$62/mo · 182.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,669
• − Mortgage interest: −$7,562
• − Property taxes: −$411
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$3,927
• Taxable income: $1,469
• Est. tax owed @ 24.0%: −$353
• After-tax cash flow: $3,227/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: Bourbon County
• NCES district ID: 2100540
• Math proficiency: 26% ▼ -19.00%
• Reading proficiency: 32% ▼ -21.00%
• Median HH income: $47,654
• Composite: 25.13/100
• National rank: #7523
• State rank: #108 of 165 in KY

Livability — North Middletown

• Score: 59/100
• State rank: #409
• US rank: #19598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bourbon County · 18,361 people
• City population: 94
• Metro: Lexington-Fayette, KY
• Population (ZIP): 18,361
• Household income: $63,333
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 509.0

Population outlook (Bourbon County) Hauer SSP2

• Today (2025): 20,485 people
• By 2030: 20,559 · +0.4%
• By 2040: 20,491 · +0.0%
• By 2050: 20,065 · -2.1%
• By 2075: 19,173 · -6.4%
• By 2100: 16,646 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Slovak 2% Serbian 2% Iranian 2%
• Foreign-born: 4% · Canada, Dominican Republic
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Bourbon

• 2024 margin: Solid R (+33.5) · D 32.4% · R 65.9% · Other 1.7%
• 2008→2024 swing: -16.3pp toward R · 2008: -17.2pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.0 2016: R+31.6 2012: R+20.4 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.90%
• Current HPI: 241.9393
• Rent YoY: —
• Metro: Lexington-Fayette, KY
• 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

+440.0% since first listed

5 events — show timeline

• 2026-05-18 Listed $135,000 ImagineMLS
• 2022-08-13 Pending — ImagineMLS
• 2022-08-13 Sold (MLS) $18,500 ImagineMLS
• 2022-08-12 Listed $18,500 ImagineMLS
• 1993-06-25 Sold (Public Records) $25,000 Public Records

Property tax history

+38.8%/yr

Latest (2025): $411 · -1.0% YoY. Source: county tax records.