46, 58, 66 Dantley Dr

Corbin, KY 40701

$510,000C+

52 bd · 30.0 ba · 6,298 sqft · Built — · MultiFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,667/mo
• Mortgage (P&I): −$2,674
• Tax + insurance: −$850
• HOA: −$0
• Vac / Maint / Mgmt: −$1,190
• Net cashflow: $952/mo
• Annual: $11,429/yr
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $142,800

Investor read

• This is a 4 × 13-bed/?-bath units multifamily listed at $510k.
• At list price, monthly cash flow is $952 ($11k/yr) — positive. Per door: $238/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $510k).
• It's been on market 64 days — a 6% lower offer ($479k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $479k (6.0% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($4k loan paydown + $9k appreciation (1.8% local appreciation)).
• Location reads 69/100 on livability (#179 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Corbin Independent (town): math 42% / reading 50% proficiency, ranked #20 of 165 in KY (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corbin Primary (math 42% / reading 32%, grade F, #255 of 676 statewide, top 42%, 769 students, 60% FRL); Corbin Middle School (math 46% / reading 56%, grade C, #20 of 217 statewide, top 10%, 646 students, 58% FRL); Corbin High School (math 22% / reading 42%, grade F, #97 of 254 statewide, top 46%, 829 students, 53% FRL).
• Market conditions: 331 active listings in the ZIP; 65 units permitted in Whitley County in 2024 (0 in 5+ unit buildings).
• Whitley County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $143k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.5% vs local median 3.4% in Corbin — 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

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.