362 Irene Decker Rd · Clarkson, KY 42726

$69,000

3 bd · 1.0 ba · 864 sqft · Manufactured · 1 Days on market

Built 1974 7,492 sqft lot

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

RARE WATERFRONT OPPORTUNITY! This scenic waterfront lot offers the perfect setting to build your dream lake retreat or weekend getaway. Enjoy direct access to the water along with a transferable boat dock, subject to U. S. Army Corps of Engineers approval, providing convenient access for boating, fishing, and enjoying all that lake life has to offer. The property includes an existing mobile home that is uninhabitable and is being conveyed as-is. The seller will not remove the structure or its contents. Buyer will be solely responsible for the removal of contents and any demolition and/or removal of the mobile home after closing. With its desirable waterfront location, dock availability, and

Key facts

• 7,492 sq ft lot
• Built 1974

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Utilities: None listed
• Home design: Residential property; Other architectural style; Single-story (1 story); Entry level: first floor
• Construction: Built in 1974; Aluminum siding; Shingle roof; 864 above-grade finished living area
• Exterior features: Boat slip; Waterfront property; Covenants/restrictions and easement on the lot; Wooded lot; Located on a cul-de-sac; Irregular lot shape

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Three bedrooms, all on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating with heat pump; Central air conditioning; One HVAC unit
• Interior features: Five total rooms; Three closets; No basement; First-floor primary bedroom
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Cap rate 12.8% vs local median 2.0% in Clarkson — 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 64/100 on livability (#301 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: schools D, amenities F, commute F.
• Grayson County (rural): math 27% / reading 40% proficiency, ranked #84 of 165 in KY (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 134 active listings in the ZIP; 23 units permitted in Grayson County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($477 loan paydown + $7k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $69,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.46% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.19%
• DSCR: 2.03
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.7%
• Equity multiple: 4.17×
• Total profit: $61,339
• Equity at exit: $62,161

10-year hold

• IRR: 36.0%
• Equity multiple: 9.38×
• Total profit: $161,896
• Equity at exit: $134,052

Cash invested: $19,320 (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 42726

• Active inventory: 134
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,006 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $373

Break-even live

Break-even rent $534

Max offer price $69,000

Occupancy floor 58%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $69,000 Active 1 DOM

ⓘ 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: $372 · $31/mo
• Projected year-2 tax: $593 · $49/mo
• Expected delta: +$221/yr (+$18/mo · 59.5%)

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

Taxation est. · year 1

• Rental income: $12,075
• − Mortgage interest: −$3,865
• − Property taxes: −$372
• − Insurance: −$345
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$2,007
• Taxable income: $3,554
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $3,627/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: Grayson County
• NCES district ID: 2102300
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 40% ▼ -17.00%
• Median HH income: $34,256
• Composite: 27.55/100
• National rank: #6944
• State rank: #84 of 165 in KY

Livability — Clarkson

• Score: 64/100
• State rank: #301
• US rank: #14439

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,025

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 26,840 people
• By 2030: 27,032 · +0.7%
• By 2040: 27,236 · +1.5%
• By 2050: 27,076 · +0.9%
• By 2075: 26,565 · -1.0%
• By 2100: 24,007 · -10.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Asian 2% Two or more races 1%
• Common ancestry: Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+61.8) · D 18.5% · R 80.3% · Other 1.2%
• 2008→2024 swing: -26.9pp toward R · 2008: -34.9pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+58.8 2016: R+59.3 2012: R+39.5 2008: R+34.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 141.71%
• Current HPI: 470.743
• 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

• 2026-06-18 Listed $69,000 Metro Search MLS

Property tax history

+6.9%/yr

Latest (2025): $372 · -0.4% YoY. Source: county tax records.