3361 Mcroberts Rd

Wallingford, KY 41093

$175,000D-

3 bd · 2.0 ba · 1,400 sqft · Built 2018 · Other · Pending · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-277/mo
• Annual: $-3,319/yr
• Cap rate: 4.40%
• Cash-on-cash: -6.77%
• DSCR: 0.70
• 1% rule: 0.63%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath other listed at $175k.
• At list price, monthly cash flow is $-277 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (27.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (37.0% below list).
• It's been on market 89 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (37.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.5%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Fleming County (rural): math 26% / reading 41% proficiency, ranked #83 of 165 in KY (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 2 units permitted in Fleming County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 7y ago; this cycle's ask has dropped $45k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $143k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate 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 89 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.