3253 Silver Mine Rd

Sonora, KY 42776

$222,999C+

3 bd · 2.0 ba · 1,568 sqft · Built 2022 · Other · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,395/mo
• Mortgage (P&I): −$1,169
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$503
• Net cashflow: $457/mo
• Annual: $5,482/yr
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• 1% rule: 1.07%
• Cash to close: $62,440

Investor read

• This is a 3-bed/2.0-bath other listed at $223k. Condition is rated good.
• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $223k).
• It's been on market 92 days — a 9% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $203k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($2k loan paydown + $-206 appreciation (-0.1% local appreciation)).
• Location reads 62/100 on livability (#342 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, schools D-, amenities F.
• Hardin County (suburban): math 30% / reading 43% proficiency, ranked #47 of 165 in KY (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 946 units permitted in Hardin County in 2024 (464 in 5+ unit buildings).
• Hardin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago 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.
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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.
• 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?
• 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.