297 N Stewart Rd · London, KY 40701

$99,000

2 bd · 2.0 ba · 1,649 sqft · SingleFamily public records · 12 Days on market

Built 1955 1.00 ac lot $60/sqft · 58% below area Est $157k · 37% under

---

Why this score? — see what drove the B 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• Appreciation +5.9/10.0
• 1% rule +5.1/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

INVESTORS, here is a perfect opportunity to add this one to your portfolio. This 3 bedroom, 2.5-bath home sits on a spacious 1-acre lot and features a newer roof. The property includes an unfinished basement, offering potential for additional living space or storage. In need of repairs, this home is being sold AS-IS and is ideal for investors or buyers looking to customize a property to their liking. Inspections are welcome. Convenient to I-75, Walmart and shopping. Furniture stays with the house. Do not miss out on this opportunity!!!!!!!!!!

Key facts

• Newer roof
• Unfinished basement
• Convenient to i-75

Tags

• NEWER ROOF
• UNFINISHED BASEMENT
• SPACIOUS LOT
• CONVENIENT TO I-75
• CONVENIENT TO SHOPPING

Property features AI

Finance

• Other: Property sits on a 1.00 acre lot (public records)

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank; Electricity connected; Natural gas connected; Water connected
• Home design: House; Two levels
• Construction: Vinyl siding; Block foundation; Shingle roof; Built area approximately 1,499
• Exterior features: Shed(s)

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 3 total rooms
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Primary bedroom on the first floor; Partially finished basement; No fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 8.8% vs local median 2.2% in London — 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 68/100 on livability (#202 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment D+, amenities F, commute F.
• Laurel County (town): math 51% / reading 56% proficiency, ranked #8 of 165 in KY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hunter Hills Elementary School (math 57% / reading 67%, grade B, #24 of 676 statewide, top 4%, 568 students, 81% FRL); South Laurel Middle School (math 36% / reading 50%, grade D-, #43 of 217 statewide, top 21%, 979 students, 70% FRL); South Laurel High School (math 37% / reading 42%, grade F, #40 of 254 statewide, top 19%, 1,108 students, 66% FRL).
• Market conditions: 332 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 16 units permitted in Laurel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($684 loan paydown + $2k appreciation (1.8% local appreciation)).
• At projected returns (1.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask has dropped $40k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

• ARV (median comp): $156,536
• List price: $99,000
• Delta: -23.34%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
297 N Stewart Rd	0.00mi	3/2.5 (+1)	1,499 (-9%)	0mo	$76,000	$51	78
3217 North State Hwy 1223	0.21mi	3/2.0 (+1)	1,471 (-11%)	15mo	$224,000	$152	55
33 Chase Ln	0.66mi	3/2.0 (+1)	1,560 (-5%)	9mo	$218,000	$140	48
47 Valley Brook Pl	0.44mi	3/2.0 (+1)	1,456 (-12%)	20mo	$169,900	$117	38
44 Valley Brook Pl	0.44mi	3/2.0 (+1)	1,456 (-12%)	22mo	$185,000	$127	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.68×
• Total profit: $18,935
• Equity at exit: $38,111

10-year hold

• IRR: 15.6%
• Equity multiple: 3.05×
• Total profit: $56,896
• Equity at exit: $54,170

Cash invested: $27,720 (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 40701

• Home prices YoY: 0.6%
• Active inventory: 332
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$24 /mo · $292/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $205

Break-even live

Break-even rent $740

Max offer price $99,000

Occupancy floor 74%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 American Greeting Card Rd Unit 123-2 Corbin, KY	2.0	2.5	1200	$1,000	$0.83	43d	1	0.78mi

Listing history 13 events

1. 2026-06-09
   status $99,000 Pending 12 DOM
2. 2026-06-08
   days on market $99,000 Active 12 DOM
3. 2026-06-07
   days on market $99,000 Active 11 DOM
4. 2026-06-07
   pricestatusdays on market $99,000 Active 10 DOM
5. 2026-06-04
   days on market $110,000 Contingent 7 DOM
6. 2026-06-02
   statusdays on market $110,000 Contingent 6 DOM
7. 2026-06-01
   days on market $110,000 Active 5 DOM
8. 2026-05-31
   days on market $110,000 Active 4 DOM
9. 2026-05-31
   days on market $110,000 Active 3 DOM
10. 2026-05-19
    price $120,000 402-char remark
11. 2026-04-22
    price $125,000 402-char remark
12. 2026-04-08
    listed $139,000 Active 402-char remark
13. 1994-06-01
    soldstatus $41,000

ⓘ 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: $292 · $24/mo
• Projected year-2 tax: $851 · $71/mo
• Expected delta: +$560/yr (+$47/mo · 191.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,000
• − Mortgage interest: −$5,546
• − Property taxes: −$292
• − Insurance: −$495
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,880
• Taxable income: $868
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,255/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: Laurel County
• NCES district ID: 2103210
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $36,577
• Composite: 44.39/100
• National rank: #2814
• State rank: #8 of 165 in KY

Livability — London

• Score: 68/100
• State rank: #202
• US rank: #10028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 29,767

Population outlook (Laurel County) Hauer SSP2

• Today (2025): 62,602 people
• By 2030: 63,310 · +1.1%
• By 2040: 63,706 · +1.8%
• By 2050: 62,705 · +0.2%
• By 2075: 58,574 · -6.4%
• By 2100: 50,888 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Laurel

• 2024 margin: Solid R (+69.9) · D 14.5% · R 84.3% · Other 1.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -58.0pp · 2024: -69.9pp
• All cycles: 2024: R+69.9 2020: R+66.7 2016: R+69.1 2012: R+63.6 2008: R+58.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.82%
• Current HPI: 294.7961
• 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

+85.4% since first listed

11 events — show timeline

• 2026-06-13 Sold (MLS) $76,000 ImagineMLS
• 2026-06-08 Pending — ImagineMLS
• 2026-06-05 Relisted — ImagineMLS
• 2026-06-05 Price Changed $99,000 ImagineMLS
• 2026-06-02 Contingent — ImagineMLS
• 2026-05-27 Listing Removed — ImagineMLS
• 2026-05-19 Price Changed $120,000 ImagineMLS
• 2026-04-22 Price Changed $125,000 ImagineMLS
• 2026-04-08 Listed $139,000 ImagineMLS
• 2026-04-08 Listed $110,000 ImagineMLS
• 1994-06-01 Sold (Public Records) $41,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $292 · +0.9% YoY. Source: county tax records.