7490 Greenville Rd

Hopkinsville, KY 42240

$179,000D-

3 bd · 2.0 ba · 1,680 sqft · Built 2010 · Other · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,534/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$298
• HOA: −$0
• Vac / Maint / Mgmt: −$322
• Net cashflow: $-25/mo
• Annual: $-300/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• 1% rule: 0.86%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath other listed at $179k.
• At list price, monthly cash flow is $-25 ($-300/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (14.3% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $153k (14.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#305 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: schools D+, crime F, amenities F.
• Christian County (town): math 30% / reading 34% proficiency, ranked #93 of 165 in KY (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 256 active listings in the ZIP; 193 units permitted in Christian County in 2024 (66 in 5+ unit buildings).
• Christian County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 6.1% vs local median 4.3% in Hopkinsville — 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.
• This rent runs 36% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.