Zenith (Bradbury Pointe) Plan · Richmond, KY 40475

$64,995

3 bd · 2.0 ba · 880 sqft · Manufactured · 236 Days on market

Good condition $467/mo HOA · 39% of rent

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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 +15.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located less than one mile from Eastern Kentucky University, and just around the corner from University Shopping Center, Bradbury Pointe is an established community surrounded by mature trees that is close to shopping, employment and schools. Community Amenities Clubhouse and Playground

Key facts

• Close to schools
• Clubhouse
• Close to employment

Tags

• ESTABLISHED COMMUNITY
• MATURE TREES
• CLOSE TO SHOPPING
• CLOSE TO EMPLOYMENT
• CLOSE TO SCHOOLS
• CLUBHOUSE

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $28 ($337/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.1% in Richmond — 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 (#163 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D+, amenities F, commute F.
• Madison County (town): math 31% / reading 47% proficiency, ranked #35 of 165 in KY (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.8%/yr); 487 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 453 units permitted in Madison County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Madison County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $57,195 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.84% ✓
• Cap rate: 6.81%
• Cash-on-cash: 1.85%
• DSCR: 1.08
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.52×
• Total profit: $-8,656
• Equity at exit: $9,691

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-4,881
• Equity at exit: $5,620

Cash invested: $18,199 (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 40475

• Home prices YoY: -22.7%
• Rents YoY: 2.8%
• Active inventory: 487
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,195 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$467
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $28

Break-even live

Break-even rent $1,160

Max offer price $64,995

Occupancy floor 93%

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: $16,249
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Heathcliff Dr Unit 1 Richmond, KY	3.0	2.0	1100	$1,225	$1.11	23d	1	0.56mi
172 S Killarney Ln Unit 6 Richmond, KY	2.0	1.5	1000	$875	$0.88	14d	1	0.67mi
107 Robbins Dr Unit 18 Richmond, KY	2.0	1.0	810	$900	$1.11	23d	1	0.79mi
107 Robbins Dr Unit 4 Richmond, KY	2.0	1.0	810	$900	$1.11	43d	1	0.80mi
2319 Lantern Ridge Dr Unit 3 Richmond, KY	2.0	2.0	1121	$1,450	$1.29	23d	1	1.06mi
337 High St Apt 2 Richmond, KY	2.0	1.0	750	$750	$1.00	14d	1	1.13mi
337 High St Apt 3 Richmond, KY	2.0	1.0	750	$875	$1.17	43d	1	1.13mi
325 S 3rd St Unit B Richmond, KY	2.0	1.0	1000	$1,195	$1.20	23d	1	1.14mi
333 High St Unit A Richmond, KY	2.0	2.0	1100	$1,600	$1.45	43d	1	1.15mi
327 High St Apt B Richmond, KY	2.0	2.0	1100	$1,550	$1.41	14d	1	1.16mi
327 High St Unit C Richmond, KY	2.0	2.0	1100	$950	$0.86	43d	1	1.16mi
2 Wellington Ct Unit A Richmond, KY	3.0	1.0	1100	$2,450	$2.23	43d	1	1.21mi
512 Claire Pl Richmond, KY	1.0–2.0	1.0–2.0	913	$1,345	$1.47	43d	2	1.45mi
103 Rice Ct Unit 3 Richmond, KY	2.0	1.0	700	$950	$1.36	43d	1	1.50mi
103 Rice Ct Unit 5 Richmond, KY	2.0	1.0	700	$800	$1.14	23d	1	1.50mi

HOA detail

• Monthly dues: $467 · $5,604/yr

Listing history 16 events

1. 2026-06-18
   days on market $64,995 Active 236 DOM
2. 2026-06-17
   days on market $64,995 Active 235 DOM
3. 2026-06-16
   days on market $64,995 Active 234 DOM
4. 2026-06-15
   days on market $64,995 Active 233 DOM
5. 2026-06-14
   days on market $64,995 Active 231 DOM
6. 2026-06-10
   days on market $64,995 Active 228 DOM
7. 2026-06-09
   days on market $64,995 Active 227 DOM
8. 2026-06-08
   days on market $64,995 Active 226 DOM
9. 2026-06-07
   days on market $64,995 Active 225 DOM
10. 2026-06-05
    days on market $64,995 Active 222 DOM
11. 2026-06-03
    days on market $64,995 Active 221 DOM
12. 2026-06-02
    days on market $64,995 Active 220 DOM
13. 2026-06-01
    days on market $64,995 Active 219 DOM
14. 2026-05-31
    days on market $64,995 Active 218 DOM
15. 2026-05-31
    days on market $64,995 Active 217 DOM
16. 2025-10-26
    listed $64,995 Active 287-char remark

    Show marketing remark (287 chars)

    Located less than one mile from Eastern Kentucky University, and just around the corner from University Shopping Center, Bradbury Pointe is an established community surrounded by mature trees that is close to shopping, employment and schools. Community Amenities Clubhouse and Playground

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,343
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − HOA: −$5,604
• − Depreciation: −$1,891
• Taxable loss: −$388
• Est. tax savings @ 24.0%: +$93
• After-tax cash flow: $430/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a modern interior and exterior. It is move-in ready and has potential for further value enhancement through minor updates.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and adds value.
• Both Replace window treatments — Modernizes look and improves energy efficiency.
• Both Install smart home devices — Enhances convenience and adds value for potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and adds value. ↑
• Both Replace window treatments — Modernizes look and improves energy efficiency. ↑
• Both Install smart home devices — Enhances convenience and adds value for potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Madison County
• NCES district ID: 2103720
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $43,590
• Composite: 32.99/100
• National rank: #5580
• State rank: #35 of 165 in KY

Livability — Richmond

• Score: 69/100
• State rank: #163
• US rank: #8196

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, KY
• County: Madison County · 93,568 people
• City population: 65,961
• Metro: Richmond-Berea, KY
• Population (ZIP): 65,961
• Household income: $63,050
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 2031.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 99,241 people
• By 2030: 104,927 · +5.7%
• By 2040: 116,079 · +17.0%
• By 2050: 127,293 · +28.3%
• By 2075: 155,644 · +56.8%
• By 2100: 176,488 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+30.9) · D 33.6% · R 64.5% · Other 1.9%
• 2008→2024 swing: -8.4pp toward R · 2008: -22.4pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.8 2016: R+31.2 2012: R+28.9 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.04%
• Current HPI: 245.8489
• Rent YoY: ▲ 2.82%
• Metro: Richmond-Berea, 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

1 event — show timeline

• 2025-10-26 Listed $64,995 Zillow