222 Wickliffe Ave

Campbellsville, KY 42718

$116,900D+

2 bd · 1.0 ba · 728 sqft · Built 1976 · Other · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,114/mo
• Mortgage (P&I): −$613
• Tax + insurance: −$195
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $72/mo
• Annual: $867/yr
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• 1% rule: 0.95%
• Cash to close: $32,732

Investor read

• This is a 2-bed/1.0-bath other listed at $117k.
• At list price, monthly cash flow is $72 ($867/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (4.7% below list).
• It's been on market 65 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $808 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#94 in KY, #3,786 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, commute F, employment F.
• Campbellsville Independent (town): math 16% / reading 32% proficiency, ranked #152 of 165 in KY (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Campbellsville Elementary School (math 16% / reading 27%, grade F, #556 of 676 statewide, top 83%, 638 students, 73% FRL); Campbellsville Middle School (math 15% / reading 37%, grade F, #178 of 217 statewide, top 83%, 311 students, 71% FRL); Campbellsville High School (math 34% / reading 44%, grade F, #40 of 254 statewide, top 19%, 329 students, 63% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: 186 active listings in the ZIP; 10 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• Taylor County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $45k; list at $117k implies a 160% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.0% vs local median 3.7% in Campbellsville — 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 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.