9 Mockingbird Dr

Taylorsville, KY 40071

$280,000D

3 bd · 2.0 ba · 1,277 sqft · Built 2018 · Other · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,185/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$252
• HOA: −$0
• Vac / Maint / Mgmt: −$459
• Net cashflow: $6/mo
• Annual: $68/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• 1% rule: 0.78%
• Cash to close: $78,400

Investor read

• This is a 3-bed/2.0-bath other listed at $280k.
• At list price, monthly cash flow is $6 ($68/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 $218k (22.0% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $218k (22.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#149 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Spencer County (rural): math 41% / reading 46% proficiency, ranked #18 of 165 in KY (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Taylorsville Elementary School (math 46% / reading 44%, grade D-, #143 of 676 statewide, top 22%, 628 students, 53% FRL); Spencer County Middle School (math 37% / reading 50%, grade D, #42 of 217 statewide, top 19%, 721 students, 39% FRL); Spencer County High School (math 35% / reading 43%, grade F, #51 of 254 statewide, top 21%, 992 students, 35% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 113 active listings in the ZIP; 126 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).
• Spencer County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $168k; list at $280k implies a 67% gain — meaningful room to come down on a strong offer.
• Cap rate 6.3% vs local median 3.9% in Taylorsville — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.