1380 State Highway 472 · Manchester, KY 40962

$109,900

3 bd · 2.0 ba · 910 sqft · Other public records · 13 Days on market

Built 2016 1.00 ac lot

---

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 +17.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Escape to peaceful living in this charming 2016 single wide mobile home, nestled on a generous 1-acre lot at 1380 State Highway 472 Manchester, KY, in the Burning Springs community. Offering approximately 1,200 square feet, this home features a thoughtful split floor plan that places the primary bedroom on one side for extra privacy, and the other two bedrooms and second bath on the other. You'll love the large primary bathroom with the modern walk-in shower. The home is located in the sought-after Burning Springs Elementary School district. Best of all, you'll enjoy a serene setting that is just about 8 miles outside of downtown Manchester, along with easy access to neighboring Laurel Coun

Key facts

• 1 acre lot
• Built 2016
• Listed 13 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank; Electricity connected; Cable available; Phone available
• Home design: Manufactured home; One level
• Construction: Vinyl siding; Metal roof; Pillar/post/pier foundation; Built area approximately 1,216
• Exterior features: Wooded lot

Interior

• Kitchen: Dishwasher; Refrigerator; Range; Vented exhaust fan
• Bedrooms: Primary on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning (electric)
• Interior features: Eat-in kitchen; Primary bedroom on the first floor; Walk-in closet(s); Ceiling fan(s); Soaking tub
• Laundry & utility: Washer hookup; Electric dryer hookup (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $77 ($930/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (13.8% below list).
• Recommended offer: $95k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.6% in Manchester — 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 (#299 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, health & safety A-; Watch: amenities F, commute F, employment F.
• Clay County (rural): math 21% / reading 37% proficiency, ranked #130 of 165 in KY (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Burning Springs Elementary (math 17% / reading 37%, grade F, #434 of 676 statewide, top 69%, 303 students, 79% FRL); Clay County Middle School (math 21% / reading 38%, grade F, #151 of 217 statewide, top 71%, 407 students, 74% FRL); Clay County High School (math 17% / reading 27%, grade F, #202 of 254 statewide, top 82%, 717 students, 70% FRL).
• Market conditions: 84 active listings in the ZIP.

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Clay County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $6k; list at $110k implies a 1732% gain — meaningful room to come down on a strong offer.

Recommended offer $94,729 (13.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• GRM: 9.7

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: 26.4%
• Equity multiple: 3.10×
• Total profit: $64,749
• Equity at exit: $99,007

10-year hold

• IRR: 23.2%
• Equity multiple: 7.07×
• Total profit: $186,715
• Equity at exit: $213,512

Cash invested: $30,772 (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 40962

• Home prices YoY: 21.0%
• Active inventory: 84
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $947 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $77

Break-even live

Break-even rent $849

Max offer price $109,900

Occupancy floor 87%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $109,900 Active 13 DOM
2. 2026-06-17
   days on market $109,900 Active 12 DOM
3. 2026-06-16
   days on market $109,900 Active 11 DOM
4. 2026-06-15
   days on market $109,900 Active 10 DOM
5. 2026-06-13
   days on market $109,900 Active 8 DOM
6. 2026-06-12
   days on market $109,900 Active 7 DOM
7. 2026-06-09
   days on market $109,900 Active 4 DOM
8. 2026-06-08
   days on market $109,900 Active 3 DOM
9. 2026-06-07
   days on market $109,900 Active 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $109,900 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: $585 · $49/mo
• Projected year-2 tax: $945 · $79/mo
• Expected delta: +$360/yr (+$30/mo · 61.5%)

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

Taxation est. · year 1

• Rental income: $11,367
• − Mortgage interest: −$6,156
• − Property taxes: −$585
• − Insurance: −$550
• − Repairs & maintenance: −$909
• − Management: −$909
• − Depreciation: −$3,197
• Taxable loss: −$939
• Est. tax savings @ 24.0%: +$225
• After-tax cash flow: $1,155/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: Clay County
• NCES district ID: 2101230
• Math proficiency: 21% ▼ -30.00%
• Reading proficiency: 37% ▼ -20.00%
• Median HH income: $23,180
• Composite: 22.75/100
• National rank: #8031
• State rank: #130 of 165 in KY

Livability — Manchester

• Score: 64/100
• State rank: #299
• US rank: #14340

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,390

Population outlook (Clay County) Hauer SSP2

• Today (2025): 20,004 people
• By 2030: 19,285 · -3.6%
• By 2040: 17,619 · -11.9%
• By 2050: 15,782 · -21.1%
• By 2075: 11,489 · -42.6%
• By 2100: 7,949 · -60.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+80.3) · D 9.2% · R 89.5% · Other 1.3%
• 2008→2024 swing: -23.9pp toward R · 2008: -56.5pp · 2024: -80.3pp
• All cycles: 2024: R+80.3 2020: R+77.0 2016: R+75.6 2012: R+68.6 2008: R+56.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 50.40%
• Current HPI: 290.0025
• 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

+1731.7% since first listed

2 events — show timeline

• 2026-06-05 Listed $109,900 ImagineMLS
• 1995-02-01 Sold (Public Records) $6,000 Public Records

Property tax history

+24.8%/yr

Latest (2025): $585 · -0.1% YoY. Source: county tax records.