155 Cornetthill Dr

Diablock, KY 41701

$110,000C

3 bd · 1.0 ba · 540 sqft · Built 1965 · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,291/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $260/mo
• Annual: $3,116/yr
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• 1% rule: 1.17%
• Cash to close: $30,800

Investor read

• This is a 3-bed/1.0-bath other listed at $110k.
• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#421 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D, amenities F, commute F.
• Perry County (rural): math 23% / reading 42% proficiency, ranked #96 of 165 in KY (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Perry County Central High School (math 22% / reading 37%, grade F, #127 of 254 statewide, top 58%, 877 students, 67% FRL).
• Market conditions: 56 active listings in the ZIP.
• Perry County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.