1659 Ky-501

Eubank, KY 40489

$100,000B

4 bd · 1.5 ba · 2,250 sqft · Built — · Other · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,287/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $410/mo
• Annual: $4,916/yr
• Cap rate: 11.21%
• Cash-on-cash: 17.56%
• DSCR: 1.78
• 1% rule: 1.29%
• Cash to close: $28,000

Investor read

• This is a 4-bed/1.5-bath other listed at $100k. Condition is rated average.
• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 165 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.1%/yr); year-one equity from $691 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#262 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Lincoln County (rural): math 20% / reading 35% proficiency, ranked #131 of 165 in KY (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Waynesburg Elementary School (math 12% / reading 27%, grade F, #572 of 676 statewide, top 88%, 190 students, 83% FRL); Lincoln County Middle School (math 18% / reading 38%, grade F, #165 of 217 statewide, top 77%, 745 students, 67% FRL); Lincoln County High School (math 24% / reading 32%, grade F, #151 of 254 statewide, top 61%, 951 students, 63% FRL).
• Market conditions: 27 active listings in the ZIP; 91 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 11.2% vs local median 4.7% in Eubank — 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 165 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn appearance and need for cleaning.
• Moderate: Bathroom fixtures — Signs of wear and need for cleaning or replacement.
• Moderate: Electrical panel — May need maintenance or upgrade for safety and functionality.
• Moderate: HVAC system — May need cleaning or minor repairs for optimal performance.