635 River Rd

Worthville, KY 41098

$84,000C-

2 bd · 1.0 ba · 500 sqft · Built 1982 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $811/mo
• Mortgage (P&I): −$441
• Tax + insurance: −$70
• HOA: −$17
• Vac / Maint / Mgmt: −$170
• Net cashflow: $113/mo
• Annual: $1,358/yr
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• 1% rule: 0.97%
• Cash to close: $23,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $84k.
• At list price, monthly cash flow is $113 ($1k/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 $81k (3.5% below list).
• It's been on market 40 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (3.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.7%/yr); year-one equity from $581 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: 13 active listings in the ZIP; 18 units permitted in Owen County in 2024 (0 in 5+ unit buildings).
• Owen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.