715 Keith Dr

Grand Rivers, KY 42045

$55,900A-

2 bd · 2.0 ba · 1,008 sqft · Built 1986 · Other · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $947/mo
• Mortgage (P&I): −$293
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $362/mo
• Annual: $4,341/yr
• Cap rate: 14.06%
• Cash-on-cash: 27.73%
• DSCR: 2.23
• 1% rule: 1.69%
• Cash to close: $15,652

Investor read

• This is a 2-bed/2.0-bath other listed at $56k.
• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $56k).
• It's been on market 135 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.0%/yr); year-one equity from $386 of loan paydown is wiped out by about $562 of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#165 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Livingston County (rural): math 27% / reading 39% proficiency, ranked #80 of 165 in KY (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Livingston Elementary School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 362 students, 62% FRL); Livingston County Middle School (math 32% / reading 43%, grade F, #73 of 217 statewide, top 36%, 252 students, 60% FRL); Livingston Central High School (math 22% / reading 37%, grade F, #127 of 254 statewide, top 58%, 329 students, 47% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 51 active listings in the ZIP.
• Livingston County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $13k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
• 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.