598 Cooper Rd

Greenup, KY 41144

$235,900F

4 bd · 2.0 ba · 1,685 sqft · Built 2025 · Manufactured · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,240/mo
• Mortgage (P&I): −$3,551
• Tax + insurance: −$1,195
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $-3,767/mo
• Annual: $-45,201/yr
• Cap rate: -0.26%
• Cash-on-cash: -23.42%
• DSCR: -0.04
• 1% rule: 0.18%
• Cash to close: $189,602

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $236k.
• At list price, monthly cash flow is $-4k ($-45k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (44.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (47.4% below list).
• It's been on market 44 days — a 3% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (47.4% below list) — sets the bar for 1% rule.
• In year one you build about $72k of equity ($5k loan paydown + $68k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#192 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Greenup County (suburban): math 23% / reading 35% proficiency, ranked #118 of 165 in KY (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Argillite Elementary School (math 22% / reading 32%, grade F, #434 of 676 statewide, top 69%, 205 students, 73% FRL); Wurtland Middle School (math 20% / reading 38%, grade F, #156 of 217 statewide, top 74%, 250 students, 74% FRL); Greenup County High School (math 30% / reading 30%, grade F, #122 of 254 statewide, top 49%, 849 students, 62% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 4.3% of price; flood insurance adds $66/mo.
• Market conditions: 36 active listings in the ZIP; 20 units permitted in Greenup County in 2024 (0 in 5+ unit buildings).
• Greenup County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.