1223 Glass Pike · Stamping Ground, KY 40379

$189,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 52 Days on market

Built 2024 5.04 ac lot $169/sqft · 33% below area Est $252k · 25% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom, 2 bathroom 2024 manufactured home sits on 5.04 beautiful acres just 9 miles from downtown Georgetown, offering the perfect balance of peaceful rural living and convenience. With plenty of space to spread roam, this property is ideal for those wanting privacy and simply a quiet place to call home. Inside, you'll find a comfortable layout designed for everyday living, while outside you can enjoy wide open space and endless possibilities. If you've been looking for a property that gives you flexibility and freedom, this one is a must-see!

Key facts

• 5.04 acre lot
• Built 2024
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $189k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#110 in KY, #4,760 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 546 units permitted in Scott County in 2024 (98 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.
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; list at $189k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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: 1.06% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 7.9

CMA / ARV

• ARV (median comp): $252,047
• List price: $189,000
• Delta: -25.01%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,598
• Equity at exit: $28,181

10-year hold

• IRR: 7.4%
• Equity multiple: 1.55×
• Total profit: $29,366
• Equity at exit: $16,341

Cash invested: $52,920 (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 40379

• Active inventory: 21
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,002 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$102 /mo · $1,222/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $409

Break-even live

Break-even rent $1,483

Max offer price $189,000

Occupancy floor 75%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-02
   status $189,000 Pending 52 DOM
2. 2026-06-01
   days on market $189,000 Active 52 DOM
3. 2026-05-31
   days on market $189,000 Active 51 DOM
4. 2026-05-31
   days on market $189,000 Active 50 DOM
5. 2026-05-12
   price $189,000 557-char remark

   Show marketing remark (557 chars)

   This 3 bedroom, 2 bathroom 2024 manufactured home sits on 5.04 beautiful acres just 9 miles from downtown Georgetown, offering the perfect balance of peaceful rural living and convenience. With plenty of space to spread roam, this property is ideal for those wanting privacy and simply a quiet place to call home. Inside, you'll find a comfortable layout designed for everyday living, while outside you can enjoy wide open space and endless possibilities. If you've been looking for a property that gives you flexibility and freedom, this one is a must-see!

6. 2026-04-07
   listed $200,000 Active 557-char remark

   Show marketing remark (557 chars)

   This 3 bedroom, 2 bathroom 2024 manufactured home sits on 5.04 beautiful acres just 9 miles from downtown Georgetown, offering the perfect balance of peaceful rural living and convenience. With plenty of space to spread roam, this property is ideal for those wanting privacy and simply a quiet place to call home. Inside, you'll find a comfortable layout designed for everyday living, while outside you can enjoy wide open space and endless possibilities. If you've been looking for a property that gives you flexibility and freedom, this one is a must-see!

7. 2024-07-25
   soldstatus $77,000
8. 2024-07-18
   soldstatus $77,000 Closed 369-char remark

   Show marketing remark (369 chars)

   5 acres ready to be made into your own! This property is located in Stamping Ground off of Glass pike, giving you the privacy and seclusion you're looking for, but still in Scott County!! Still only 18 minutes to Toyota, and 20 minutes to all that Georgetown has to offer. Build your dream home, do some hunting, get your ATVs out there, it is ready for its new owners!

9. 2024-07-02
   status Pending 369-char remark

   Show marketing remark (369 chars)

   5 acres ready to be made into your own! This property is located in Stamping Ground off of Glass pike, giving you the privacy and seclusion you're looking for, but still in Scott County!! Still only 18 minutes to Toyota, and 20 minutes to all that Georgetown has to offer. Build your dream home, do some hunting, get your ATVs out there, it is ready for its new owners!

10. 2024-04-30
    price $89,000 369-char remark

    Show marketing remark (369 chars)

    5 acres ready to be made into your own! This property is located in Stamping Ground off of Glass pike, giving you the privacy and seclusion you're looking for, but still in Scott County!! Still only 18 minutes to Toyota, and 20 minutes to all that Georgetown has to offer. Build your dream home, do some hunting, get your ATVs out there, it is ready for its new owners!

11. 2024-04-18
    listed $99,000 Active 369-char remark

    Show marketing remark (369 chars)

    5 acres ready to be made into your own! This property is located in Stamping Ground off of Glass pike, giving you the privacy and seclusion you're looking for, but still in Scott County!! Still only 18 minutes to Toyota, and 20 minutes to all that Georgetown has to offer. Build your dream home, do some hunting, get your ATVs out there, it is ready for its new owners!

12. 2024-03-04
    soldstatus $50,000

ⓘ 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: $1,222 · $102/mo
• Projected year-2 tax: $1,625 · $135/mo
• Expected delta: +$403/yr (+$34/mo · 33.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,018
• − Mortgage interest: −$10,587
• − Property taxes: −$1,222
• − Insurance: −$945
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − Depreciation: −$5,498
• Taxable income: $1,923
• Est. tax owed @ 24.0%: −$462
• After-tax cash flow: $4,452/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: Scott County
• NCES district ID: 2105260
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 44% ▼ -16.00%
• Median HH income: $61,324
• Composite: 33.87/100
• National rank: #5348
• State rank: #31 of 165 in KY

Livability — Stamping Ground

• Score: 74/100
• State rank: #110
• US rank: #4760

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,826

Population outlook (Scott County) Hauer SSP2

• Today (2025): 63,814 people
• By 2030: 69,637 · +9.1%
• By 2040: 81,315 · +27.4%
• By 2050: 92,677 · +45.2%
• By 2075: 118,956 · +86.4%
• By 2100: 136,792 · +114.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%

Political lean MEDSL · Scott

• 2024 margin: Strong R (+27.7) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -7.1pp toward R · 2008: -20.6pp · 2024: -27.7pp
• All cycles: 2024: R+27.7 2020: R+24.9 2016: R+30.4 2012: R+25.0 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.33%
• Current HPI: 162.1959
• 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

+278.0% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $189,000 ImagineMLS
• 2026-04-07 Listed $200,000 ImagineMLS
• 2024-07-25 Sold (Public Records) $77,000 Public Records
• 2024-07-18 Sold (MLS) $77,000 ImagineMLS
• 2024-07-02 Pending — ImagineMLS
• 2024-04-30 Price Changed $89,000 ImagineMLS
• 2024-04-18 Listed $99,000 ImagineMLS
• 2024-03-04 Sold (Public Records) $50,000 Public Records

Property tax history

+24.3%/yr

Latest (2025): $1,222 · +53.8% YoY. Source: county tax records.