340 Obie Cook Rd · Worthville, KY 41083

$59,900

3 bd · 2.0 ba · 1,440 sqft · Other public records · 119 Days on market

Built 1979 8,960 sqft lot $42/sqft · 58% below area Est $118k · 49% under ↓ 22% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.9/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Affordable living in a beautiful location; this home is ready for the love to continue as the seller is moving out of the area. Located at the Owen/Carroll County line this home was originally owned by the namesake of the road who put the doublewide on the basement in 1979. There is no interior access to the basement and the home is selling as-is with the seller giving a bill of sale for the home as the title has been lost and the owner chooses not to pursue so this will not fund through FHA, VA, KHC, etc. Cash or conventional loan only. The home did not flood in 1997 and is believed to be elevated above the Zone A flood plain which says there is a 1 percent chance of flooding of Eagle Creek annually. The view is gorgeous; there are public utilities and so much to offer if you are willing to put in the work. There are 2 and 1/2 platted lots and the possibility for public sewer if you desire (currently on septic). Already the owner has done some of the upgrades. The home did have a small electrical fire from a hair styling device a couple of years ago. Appointments are required for showing as is proof of ability to finance or pay cash. Only 10 minutes out to Interstate 71 at Sparta.

Key facts

• Upgrades
• Public utilities
• 8,960 sq ft lot

Tags

• DOUBLEWIDE ON THE BASEMENT
• PUBLIC UTILITIES
• 2 AND 1/2 PLATTED LOTS
• POSSIBILITY FOR PUBLIC SEWER
• UPGRADES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#496 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, amenities F, commute F.
• Owen County (rural): math 24% / reading 32% proficiency, ranked #120 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; 18 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($414 loan paydown + $3k appreciation (5.8% local appreciation)).
• Owen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 2.00% ✓
• Cap rate: 17.04%
• Cash-on-cash: 38.37%
• DSCR: 2.71
• GRM: 4.2

CMA / ARV

• ARV (median comp): $118,055
• List price: $59,900
• Delta: -49.26%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

5.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 2.85×
• Total profit: $31,031
• Equity at exit: $36,965

10-year hold

• IRR: 26.8%
• Equity multiple: 5.82×
• Total profit: $80,769
• Equity at exit: $66,446

Cash invested: $16,772 (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 41083

• Home prices YoY: 2.4%
• Active inventory: 14
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,198 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$25
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $223

Break-even live

Break-even rent $916

Max offer price $59,900

Occupancy floor 76%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $59,900 Active 119 DOM
2. 2026-06-18
   days on market $59,900 Active 118 DOM
3. 2026-06-17
   days on market $59,900 Active 117 DOM
4. 2026-06-16
   days on market $59,900 Active 116 DOM
5. 2026-06-15
   days on market $59,900 Active 115 DOM
6. 2026-06-14
   days on market $59,900 Active 113 DOM
7. 2026-06-13
   price $59,900 Active 112 DOM
8. 2026-06-12
   days on market $69,900 Active 112 DOM
9. 2026-06-09
   days on market $69,900 Active 109 DOM
10. 2026-06-08
    days on market $69,900 Active 108 DOM
11. 2026-06-07
    days on market $69,900 Active 107 DOM
12. 2026-06-05
    days on market $69,900 Active 104 DOM
13. 2026-06-03
    days on market $69,900 Active 103 DOM
14. 2026-06-02
    days on market $69,900 Active 102 DOM
15. 2026-06-01
    days on market $69,900 Active 101 DOM
16. 2026-05-31
    days on market $69,900 Active 100 DOM
17. 2026-05-30
    days on market $69,900 Active 99 DOM
18. 2026-05-15
    price $69,900 1202-char remark

    Show marketing remark (1202 chars)

    Affordable living in a beautiful location; this home is ready for the love to continue as the seller is moving out of the area. Located at the Owen/Carroll County line this home was originally owned by the namesake of the road who put the doublewide on the basement in 1979. There is no interior access to the basement and the home is selling as-is with the seller giving a bill of sale for the home as the title has been lost and the owner chooses not to pursue so this will not fund through FHA, VA, KHC, etc. Cash or conventional loan only. The home did not flood in 1997 and is believed to be elevated above the Zone A flood plain which says there is a 1 percent chance of flooding of Eagle Creek annually. The view is gorgeous; there are public utilities and so much to offer if you are willing to put in the work. There are 2 and 1/2 platted lots and the possibility for public sewer if you desire (currently on septic). Already the owner has done some of the upgrades. The home did have a small electrical fire from a hair styling device a couple of years ago. Appointments are required for showing as is proof of ability to finance or pay cash. Only 10 minutes out to Interstate 71 at Sparta.

19. 2026-05-06
    price $79,900 1202-char remark

    Show marketing remark (1202 chars)

    Affordable living in a beautiful location; this home is ready for the love to continue as the seller is moving out of the area. Located at the Owen/Carroll County line this home was originally owned by the namesake of the road who put the doublewide on the basement in 1979. There is no interior access to the basement and the home is selling as-is with the seller giving a bill of sale for the home as the title has been lost and the owner chooses not to pursue so this will not fund through FHA, VA, KHC, etc. Cash or conventional loan only. The home did not flood in 1997 and is believed to be elevated above the Zone A flood plain which says there is a 1 percent chance of flooding of Eagle Creek annually. The view is gorgeous; there are public utilities and so much to offer if you are willing to put in the work. There are 2 and 1/2 platted lots and the possibility for public sewer if you desire (currently on septic). Already the owner has done some of the upgrades. The home did have a small electrical fire from a hair styling device a couple of years ago. Appointments are required for showing as is proof of ability to finance or pay cash. Only 10 minutes out to Interstate 71 at Sparta.

20. 2026-03-25
    price $84,900 1202-char remark

    Show marketing remark (1202 chars)

    Affordable living in a beautiful location; this home is ready for the love to continue as the seller is moving out of the area. Located at the Owen/Carroll County line this home was originally owned by the namesake of the road who put the doublewide on the basement in 1979. There is no interior access to the basement and the home is selling as-is with the seller giving a bill of sale for the home as the title has been lost and the owner chooses not to pursue so this will not fund through FHA, VA, KHC, etc. Cash or conventional loan only. The home did not flood in 1997 and is believed to be elevated above the Zone A flood plain which says there is a 1 percent chance of flooding of Eagle Creek annually. The view is gorgeous; there are public utilities and so much to offer if you are willing to put in the work. There are 2 and 1/2 platted lots and the possibility for public sewer if you desire (currently on septic). Already the owner has done some of the upgrades. The home did have a small electrical fire from a hair styling device a couple of years ago. Appointments are required for showing as is proof of ability to finance or pay cash. Only 10 minutes out to Interstate 71 at Sparta.

21. 2026-02-20
    listed $89,900 Active 1202-char remark

    Show marketing remark (1202 chars)

    Affordable living in a beautiful location; this home is ready for the love to continue as the seller is moving out of the area. Located at the Owen/Carroll County line this home was originally owned by the namesake of the road who put the doublewide on the basement in 1979. There is no interior access to the basement and the home is selling as-is with the seller giving a bill of sale for the home as the title has been lost and the owner chooses not to pursue so this will not fund through FHA, VA, KHC, etc. Cash or conventional loan only. The home did not flood in 1997 and is believed to be elevated above the Zone A flood plain which says there is a 1 percent chance of flooding of Eagle Creek annually. The view is gorgeous; there are public utilities and so much to offer if you are willing to put in the work. There are 2 and 1/2 platted lots and the possibility for public sewer if you desire (currently on septic). Already the owner has done some of the upgrades. The home did have a small electrical fire from a hair styling device a couple of years ago. Appointments are required for showing as is proof of ability to finance or pay cash. Only 10 minutes out to Interstate 71 at Sparta.

ⓘ 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: $850 · $71/mo
• Projected year-2 tax: $850 · $71/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 67% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,374
• − Mortgage interest: −$3,355
• − Property taxes: −$850
• − Insurance: −$4,064
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$1,743
• Taxable income: $2,061
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $2,176/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: Owen County
• NCES district ID: 2104560
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 32% ▼ -18.00%
• Median HH income: $42,943
• Composite: 23.84/100
• National rank: #7804
• State rank: #120 of 165 in KY

Livability — Worthville

• Score: 52/100
• State rank: #496
• US rank: #25028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,990

Population outlook (Owen County) Hauer SSP2

• Today (2025): 10,496 people
• By 2030: 10,251 · -2.3%
• By 2040: 9,650 · -8.1%
• By 2050: 8,984 · -14.4%
• By 2075: 7,589 · -27.7%
• By 2100: 6,380 · -39.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Slovak 3% Italian 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+62.7) · D 18.0% · R 80.7% · Other 1.3%
• 2008→2024 swing: -35.9pp toward R · 2008: -26.8pp · 2024: -62.7pp
• All cycles: 2024: R+62.7 2020: R+58.5 2016: R+53.7 2012: R+32.3 2008: R+26.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.82%
• Current HPI: 252.6965
• 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

-22.2% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $69,900 Metro Search MLS
• 2026-05-06 Price Changed $79,900 Metro Search MLS
• 2026-03-25 Price Changed $84,900 Metro Search MLS
• 2026-02-20 Listed $89,900 Metro Search MLS

Property tax history

+2.5%/yr

Latest (2025): $850 · +2.7% YoY. Source: county tax records.