108 Spindletop · Georgetown, KY 40324

$104,995

4 bd · 2.0 ba · 1,904 sqft · Manufactured · 8 Days on market

Built 2026 Good condition $500/mo HOA · 25% of rent

---

Why this score? — see what drove the B 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 +29.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Just Listed! 2026 Champion Prime Grand - 4 Bed, 2 Bath The Champion Prime Grand model is a sprawling, family-sized home designed for both comfort and functionality. It features a spacious living room that flows seamlessly into a large dining area, alongside a beautifully appointed, well-equipped kitchen-ideal for everyday living and entertaining. A generous family room provides additional space for relaxation or gatherings. The privately situated master suite offers a peaceful retreat, complete with a luxurious ensuite bath. Three oversized guest bedrooms-each with ample walk-in closet space-ensure comfort for family or visitors, while a roomy second bathroom accommodates the household wi

Key facts

• Built 2026
• Listed 8 days

Property features AI

Finance

• Financial info: List price $104,995
• HOA & community: Association fee approximately 500

Exterior

• Home design: Single-family spec home (Grand - Sawyier plan)
• Exterior features: Address: 108 Spindletop, Georgetown KY 40324

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home (Grand - Sawyier plan); Open living area totaling 1904

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $105k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 10.7% vs local median 3.5% in Georgetown — 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.

Location & tenants

• Location reads 78/100 on livability (#75 in KY, #2,338 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D, commute F.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 441 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 546 units permitted in Scott County in 2024 (98 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $104,995

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.94% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.64%
• DSCR: 1.70
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $7,732
• Equity at exit: $15,655

10-year hold

• IRR: 16.3%
• Equity multiple: 2.34×
• Total profit: $39,535
• Equity at exit: $9,078

Cash invested: $29,399 (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 40324

• Rents YoY: 3.0%
• Active inventory: 441
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,036 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$500
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $383

Break-even live

Break-even rent $1,551

Max offer price $104,995

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: $26,249
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Heartwood Path Georgetown, KY	1.0–3.0	1.0–2.0	1100	$1,700	$1.55	14d	1	0.59mi
106 Winners Cir Georgetown, KY	3.0	2.0	1376	$1,900	$1.38	21d	1	0.60mi
111 High Hope Ln Georgetown, KY	4.0	3.0	2046	$2,475	$1.21	14d	1	0.87mi
221 Tanbark Dr Georgetown, KY	3.0	2.5	1500	$1,475	$0.98	43d	1	1.37mi
101 Haverford Path Georgetown, KY	2.0–3.0	1.5–2.0	1184	$1,794	$1.51	14d	7	1.46mi

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 6 events

1. 2026-06-18
   days on market $104,995 Active 8 DOM
2. 2026-06-17
   days on market $104,995 Active 7 DOM
3. 2026-06-16
   days on market $104,995 Active 6 DOM
4. 2026-06-15
   days on market $104,995 Active 5 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $104,995 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,438
• − Mortgage interest: −$5,881
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − HOA: −$6,000
• − Depreciation: −$3,054
• Taxable income: $3,492
• Est. tax owed @ 24.0%: −$838
• After-tax cash flow: $3,761/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.

Condition & rehab AI · 9 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor maintenance. The highest-ROI updates to increase its value are painting the exterior siding and replacing the worn-out window seals.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace worn-out window seals — Improves energy efficiency and tenant satisfaction

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace worn-out window seals — Improves energy efficiency and tenant satisfaction ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Scott County
• NCES district ID: 2105260
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 44% ▼ -16.00%
• Median HH income: $61,324
• Composite: 33.87/100
• National rank: #5348
• State rank: #31 of 165 in KY

Livability — Georgetown

• Score: 78/100
• State rank: #75
• US rank: #2338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Scott County · 53,406 people
• City population: 53,406
• Metro: Lexington-Fayette, KY
• Population (ZIP): 53,406
• Household income: $85,110
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 993.0

Population outlook (Scott County) Hauer SSP2

• Today (2025): 63,814 people
• By 2030: 69,637 · +9.1%
• By 2040: 81,315 · +27.4%
• By 2050: 92,677 · +45.2%
• By 2075: 118,956 · +86.4%
• By 2100: 136,792 · +114.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Scott

• 2024 margin: Strong R (+27.7) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -7.1pp toward R · 2008: -20.6pp · 2024: -27.7pp
• All cycles: 2024: R+27.7 2020: R+24.9 2016: R+30.4 2012: R+25.0 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.49%
• Current HPI: 187.89
• Rent YoY: ▲ 3.00%
• Metro: Lexington-Fayette, KY
• 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