372 Saratoga Heights Rd · Eddyville, KY 42038

$199,900

3 bd · 2.0 ba · 1,400 sqft · Manufactured public records · 50 Days on market

Built 2000 1.50 ac lot $143/sqft · 20% below area Est $250k · 20% under

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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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Set on 1.5+/- peaceful acres with seasonal lake views, this well-maintained 2000 model manufactured home offers the perfect blend of comfort, space, and tranquility. This 3-bedroom, 2-bath home features a roomy interior ideal for both relaxing weekends and everyday living. A brand-new metal roof and durable 6-inch gutters add long-term value and peace of mind. The home has also been equipped with piers and tie downs for extra security. The property also includes a spacious two-car garage with additional attic storage, providing plenty of room for tools, hobbies, or outdoor gear. Located in a quiet neighborhood, about a mile from Coleman bridge boat ramp, this home is an excellent choice for

Key facts

• Seasonal lake views
• Brand-new metal roof
• Quiet neighborhood

Tags

• SEASONAL LAKE VIEWS
• BRAND-NEW METAL ROOF
• DURABLE GUTTERS
• SPACIOUS TWO-CAR GARAGE
• ADDITIONAL ATTIC STORAGE
• QUIET NEIGHBORHOOD

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener
• Utilities: Public water; Septic tank
• Home design: Manufactured home; Single-story
• Construction: Metal siding; Metal roof
• Exterior features: Covered patio/porch; Deck; Wooded lot; Gravel road access

Interior

• Kitchen: Dishwasher; Microwave; Cooktop; Refrigerator; Electric water heater
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: Accessible entrance
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $915 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 3.5% in Eddyville — 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.

Location & tenants

• Location reads 69/100 on livability (#174 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Lyon County (rural): math 45% / reading 52% proficiency, ranked #13 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lyon County Elementary School (math 42% / reading 57%, grade D, #100 of 676 statewide, top 16%, 457 students, 58% FRL); Lyon County Middle School (math 51% / reading 54%, grade C+, #16 of 217 statewide, top 7%, 243 students, 51% FRL); Lyon County High School (math 32% / reading 37%, grade F, #76 of 254 statewide, top 34%, 298 students, 46% FRL).
• Market conditions: 118 active listings in the ZIP; 3 units permitted in Lyon County in 2024 (0 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.
• Lyon County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.37% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.62%
• DSCR: 1.87
• GRM: 6.1

CMA / ARV

• ARV (median comp): $250,323
• List price: $199,900
• Delta: -20.14%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.6%
• Equity multiple: 1.46×
• Total profit: $25,840
• Equity at exit: $29,806

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $97,360
• Equity at exit: $17,284

Cash invested: $55,972 (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 42038

• Home prices YoY: -30.7%
• Active inventory: 118
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,729 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $915

Break-even live

Break-even rent $1,571

Max offer price $199,900

Occupancy floor 61%

Sensitivity live

Price	-10% $1,028	-5% $972	+0% $915	+5% $858	+10% $802
Rent	-10% $699	-5% $807	+0% $915	+5% $1,023	+10% $1,131
Rate	-1.0pp $1,016	-0.5pp $966	base $915	+0.5pp $863	+1.0pp $811

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $199,900 Active 50 DOM
2. 2026-06-18
   days on market $199,900 Active 48 DOM
3. 2026-06-17
   days on market $199,900 Active 47 DOM
4. 2026-06-16
   days on market $199,900 Active 46 DOM
5. 2026-06-15
   days on market $199,900 Active 45 DOM
6. 2026-06-13
   days on market $199,900 Active 43 DOM
7. 2026-06-12
   days on market $199,900 Active 42 DOM
8. 2026-06-09
   days on market $199,900 Active 39 DOM
9. 2026-06-08
   days on market $199,900 Active 38 DOM
10. 2026-06-07
    days on market $199,900 Active 37 DOM
11. 2026-06-07
    days on market $199,900 Active 36 DOM
12. 2026-06-04
    days on market $199,900 Active 33 DOM
13. 2026-06-02
    days on market $199,900 Active 32 DOM
14. 2026-06-01
    days on market $199,900 Active 31 DOM
15. 2026-05-31
    days on market $199,900 Active 30 DOM
16. 2026-05-31
    days on market $199,900 Active 29 DOM
17. 2026-05-01
    listed $209,500 Active 778-char remark
18. 2025-06-25
    price $179,900
19. 2025-04-29
    price $194,900
20. 2025-01-16
    listed $199,900 Active
21. 2024-07-03
    listed $199,000 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: $1,312 · $109/mo
• Projected year-2 tax: $1,719 · $143/mo
• Expected delta: +$407/yr (+$34/mo · 31.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $32,749
• − Mortgage interest: −$11,198
• − Property taxes: −$1,312
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − Depreciation: −$5,815
• Taxable income: $8,184
• Est. tax owed @ 24.0%: −$1,964
• After-tax cash flow: $9,016/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: Lyon County
• NCES district ID: 2103690
• Math proficiency: 45% ▼ -15.00%
• Reading proficiency: 52% ▼ -13.00%
• Median HH income: $43,899
• Composite: 40.94/100
• National rank: #3607
• State rank: #13 of 165 in KY

Livability — Eddyville

• Score: 69/100
• State rank: #174
• US rank: #8755

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): 6,045

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 8,330 people
• By 2030: 8,308 · -0.3%
• By 2040: 8,196 · -1.6%
• By 2050: 8,069 · -3.1%
• By 2075: 8,131 · -2.4%
• By 2100: 6,856 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Serbian 2% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+53.4) · D 22.7% · R 76.1% · Other 1.2%
• 2008→2024 swing: -36.8pp toward R · 2008: -16.7pp · 2024: -53.4pp
• All cycles: 2024: R+53.4 2020: R+47.5 2016: R+44.0 2012: R+27.1 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.82%
• Current HPI: 148.5677
• 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

+0.5% since first listed

6 events — show timeline

• 2026-05-29 Price Changed $199,900 WKRMLS
• 2026-05-01 Listed $209,500 WKRMLS
• 2025-06-25 Price Changed $179,900 WKRMLS
• 2025-04-29 Price Changed $194,900 WKRMLS
• 2025-01-16 Listed $199,900 WKRMLS
• 2024-07-03 Listed $199,000 WKRMLS

Property tax history

+6.7%/yr

Latest (2025): $1,312 · +23.6% YoY. Source: county tax records.