299 -301 Hideaway Hls

Owenton, KY 40359

$115,000D

3 bd · 2.0 ba · 1,620 sqft · Built — · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $945/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$44
• Vac / Maint / Mgmt: −$199
• Net cashflow: $-92/mo
• Annual: $-1,103/yr
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• 1% rule: 0.82%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (17.8% below list).
• It's been on market 18 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (17.8% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#355 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.
• Owen County (rural): math 24% / reading 32% proficiency, ranked #120 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Owen County Elementary/Primary School (math 27% / reading 35%, grade F, #378 of 676 statewide, top 57%, 690 students, 62% FRL); Maurice Bowling Middle School (math 22% / reading 33%, grade F, #168 of 217 statewide, top 78%, 484 students, 62% FRL); Owen County High School (math 27% / reading 27%, grade F, #158 of 254 statewide, top 68%, 558 students, 53% FRL).
• Market conditions: 103 active listings in the ZIP; 18 units permitted in Owen County in 2024 (0 in 5+ unit buildings).
• Owen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.3% vs local median 1.4% in Owenton — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The independent image shows a large roof footprint, but no specific details about the condition of the roof are visible in the listing photos. The roof appears to be in poor condition, with visible wear and tear.
• Moderate: exterior siding — The independent image shows the exterior siding, but no specific details about the condition of the siding are visible in the listing photos. The exterior siding appears to be in fair condition, with some discoloration and wear visible.
• Major: flooring — The independent image shows the interior flooring, but no specific details about the condition of the flooring are visible in the listing photos. The flooring appears to be in poor condition, with visible wear and tear.
• Major: interior walls/paint — The independent image shows the interior walls and paint, but no specific details about the condition of the walls and paint are visible in the listing photos. The interior walls and paint appear to be in poor condition, with visible wear and tear.
• Moderate: windows — The independent image shows the windows, but no specific details about the condition of the windows are visible in the listing photos. The windows appear to be in fair condition, with some discoloration and wear visible.
• Major: landscaping — The independent image shows the landscaping, but no specific details about the condition of the landscaping are visible in the listing photos. The landscaping appears to be in poor condition, with some overgrown vegetation and lack of maintenance visible.