330 Cove Rd · Elkhorn City, KY 24256

$150,000

3 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 23 Days on market

Built 1981

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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 +15.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +5.1/10.0
• DSCR +4.8/10.0
• Livability +3.0/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

New metal roof, new hot water heater, new heat pump, plumbing redone as well as electrical. Move in ready

Key facts

• Metal roof
• Plumbing redone
• Heat pump

Tags

• METAL ROOF
• HOT WATER HEATER
• HEAT PUMP
• PLUMBING REDONE
• ELECTRICAL REDONE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $65 ($782/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 $119k (20.6% below list).
• Recommended offer: $119k (20.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#394 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Dickenson County Public School District (rural): math 59% / reading 66% proficiency, ranked #58 of 131 in VA (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 11 units permitted in Dickenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.8% local appreciation)).
• Dickenson County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,125 (20.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.31×
• Total profit: $13,057
• Equity at exit: $57,783

10-year hold

• IRR: 9.4%
• Equity multiple: 2.25×
• Total profit: $52,438
• Equity at exit: $82,161

Cash invested: $42,000 (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 24256

• Home prices YoY: 1.3%
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,191 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$27 /mo · $321/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $65

Break-even live

Break-even rent $1,109

Max offer price $150,000

Occupancy floor 90%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $150,000 Active 23 DOM
2. 2026-06-17
   days on market $150,000 Active 22 DOM
3. 2026-06-16
   days on market $150,000 Active 21 DOM
4. 2026-06-15
   days on market $150,000 Active 20 DOM
5. 2026-06-15
   days on market $150,000 Active 19 DOM
6. 2026-06-13
   days on market $150,000 Active 18 DOM
7. 2026-06-12
   days on market $150,000 Active 17 DOM
8. 2026-06-09
   days on market $150,000 Active 14 DOM
9. 2026-06-08
   days on market $150,000 Active 13 DOM
10. 2026-06-08
    days on market $150,000 Active 12 DOM
11. 2026-06-03
    days on market $150,000 Active 8 DOM
12. 2026-06-02
    days on market $150,000 Active 7 DOM
13. 2026-06-01
    days on market $150,000 Active 6 DOM
14. 2026-05-31
    days on market $150,000 Active 5 DOM
15. 2026-05-26
    listed $150,000 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: $321 · $27/mo
• Projected year-2 tax: $1,290 · $108/mo
• Expected delta: +$969/yr (+$81/mo · 301.4%)

ⓘ 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 7/10 Severe
• 🌡 Heat 2/10 Low 6 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $14,295
• − Mortgage interest: −$8,402
• − Property taxes: −$321
• − Insurance: −$750
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$4,364
• Taxable loss: −$1,830
• Est. tax savings @ 24.0%: +$439
• After-tax cash flow: $1,221/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: Dickenson County Public School District
• NCES district ID: 5101140
• Math proficiency: 59% ▼ -31.00%
• Reading proficiency: 66% ▼ -17.00%
• Median HH income: $30,649
• Composite: 51.28/100
• National rank: #1749
• State rank: #58 of 131 in VA

Livability — Elkhorn City

• Score: 60/100
• State rank: #394
• US rank: #18934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,965

Population outlook (Dickenson County) Hauer SSP2

• Today (2025): 13,554 people
• By 2030: 12,680 · -6.4%
• By 2040: 11,016 · -18.7%
• By 2050: 9,562 · -29.5%
• By 2075: 6,712 · -50.5%
• By 2100: 4,554 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Romanian 1%
• Foreign-born: 0%

Political lean MEDSL · Dickenson

• 2024 margin: Solid R (+62.2) · D 18.7% · R 80.9%
• 2008→2024 swing: -61.5pp toward R · 2008: -0.7pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+58.1 2016: R+56.2 2012: R+26.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.83%
• Current HPI: 147.065
• 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

1 event — show timeline

• 2026-05-26 Listed $150,000 FSBO.com

Property tax history

+0.2%/yr

Latest (2026): $321 · +0.0% YoY. Source: county tax records.