1424 Parkhurst Dr

Bowling Green, KY 42101

$209,900F

3 bd · 1.0 ba · 936 sqft · Built 1958 · SingleFamily · Active · 256 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,140/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $-330/mo
• Annual: $-3,965/yr
• Cap rate: 4.40%
• Cash-on-cash: -6.75%
• DSCR: 0.70
• 1% rule: 0.54%
• Cash to close: $58,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (27.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (45.7% below list).
• It's been on market 256 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (45.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#255 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Bowling Green Independent (urban): math 37% / reading 41% proficiency, ranked #44 of 165 in KY (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dishman Mcginnis Elementary School (math 24% / reading 22%, grade F, #520 of 676 statewide, top 77%, 430 students, 96% FRL); Bowling Green Junior High (math 37% / reading 46%, grade F, #51 of 217 statewide, top 24%, 963 students, 65% FRL); Bowling Green High School (math 39% / reading 39%, grade F, #51 of 254 statewide, top 21%, 1,294 students, 58% FRL) — zoned schools average 73% FRL vs 53% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 639 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,286 units permitted in Warren County in 2024 (1,410 in 5+ unit buildings).
• Warren County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $160k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.4% vs local median 3.2% in Bowling Green — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 256 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.