4300 E U.s. 60 · Morehead, KY 40351

$159,500

4 bd · 2.0 ba · 1,672 sqft · SingleFamily public records · 63 Days on market

Built 1946 0.72 ac lot $95/sqft · 27% below area Est $217k · 27% under

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Why this score? — see what drove the C+ 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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Family home, with large backyard for the kids. Good bones and foundation, just needs a good handyman/owner. Only minutes from Rodburn grade school and MSU.

Key facts

• Minutes from msu
• Large backyard
• 0.72 acre lot

Tags

• LARGE BACKYARD
• MINUTES FROM MSU

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (16.4% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $133k (16.4% below list) — sets the bar for cash-flow.
• Cap rate 8.1% vs local median 4.7% in Morehead — 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 62/100 on livability (#345 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools D, housing D.
• Rowan County (rural): math 28% / reading 41% proficiency, ranked #74 of 165 in KY (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 147 active listings in the ZIP; 15 units permitted in Rowan County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rowan County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $39k; list at $160k implies a 309% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,274 (16.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $217,232
• List price: $159,500
• Delta: -26.58%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-37,101
• Equity at exit: $23,782

10-year hold

• IRR: -19.0%
• Equity multiple: -0.03×
• Total profit: $-46,002
• Equity at exit: $13,791

Cash invested: $44,660 (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 40351

• Home prices YoY: -22.6%
• Active inventory: 147
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,706 medium
• Mortgage (P&I): −$836
• Tax est. 1.5%: −$199 /mo · $2,392/yr
• Insurance: −$66
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-181

Break-even live

Break-even rent $1,935

Max offer price $133,274

Occupancy floor —

Sensitivity live

Price	-10% $-71	-5% $-126	+0% $-181	+5% $-236	+10% $-291
Rent	-10% $-316	-5% $-249	+0% $-181	+5% $-114	+10% $-46
Rate	-1.0pp $-101	-0.5pp $-141	base $-181	+0.5pp $-223	+1.0pp $-265

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $159,500 Active 63 DOM
2. 2026-06-17
   days on market $159,500 Active 62 DOM
3. 2026-06-16
   days on market $159,500 Active 61 DOM
4. 2026-06-15
   days on market $159,500 Active 60 DOM
5. 2026-06-14
   days on market $159,500 Active 58 DOM
6. 2026-06-13
   days on market $159,500 Active 57 DOM
7. 2026-06-10
   days on market $159,500 Active 55 DOM
8. 2026-06-09
   days on market $159,500 Active 54 DOM
9. 2026-06-08
   days on market $159,500 Active 53 DOM
10. 2026-06-07
    days on market $159,500 Active 52 DOM
11. 2026-06-03
    days on market $159,500 Active 48 DOM
12. 2026-06-02
    days on market $159,500 Active 47 DOM
13. 2026-06-01
    days on market $159,500 Active 46 DOM
14. 2026-05-31
    days on market $159,500 Active 45 DOM
15. 2026-05-31
    days on market $159,500 Active 44 DOM
16. 2026-04-16
    listed $159,500 Active 158-char remark

    Show marketing remark (158 chars)

    Family home, with large backyard for the kids. Good bones and foundation, just needs a good handyman/owner. Only minutes from Rodburn grade school and MSU.

17. 2010-12-10
    soldstatus $39,000
18. 2010-11-07
    historical
19. 2010-05-07
    listed $52,900

ⓘ 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,469
• − Mortgage interest: −$8,934
• − Property taxes: −$2,392
• − Insurance: −$5,916
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$4,640
• Taxable loss: −$4,689
• Est. tax savings @ 24.0%: +$1,125
• After-tax cash flow: $-1,050/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.

Schools (NCES district)

• District: Rowan County
• NCES district ID: 2105100
• Math proficiency: 28% ▼ -19.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $35,139
• Composite: 28.47/100
• National rank: #6742
• State rank: #74 of 165 in KY

Livability — Morehead

• Score: 62/100
• State rank: #345
• US rank: #16479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rowan County · 22,322 people
• City population: 22,322
• Metro: nan
• Population (ZIP): 22,322
• Household income: $51,835
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 589.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 27,518 people
• By 2030: 29,242 · +6.3%
• By 2040: 32,949 · +19.7%
• By 2050: 37,128 · +34.9%
• By 2075: 49,130 · +78.5%
• By 2100: 59,014 · +114.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Rowan

• 2024 margin: Strong R (+27.8) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -29.8pp toward R · 2008: 2.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+21.0 2016: R+21.3 2012: R+7.8 2008: D+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.28%
• Current HPI: 203.0786
• Rent YoY: —
• Metro: nan
• 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

Price history

+201.5% since first listed

4 events — show timeline

• 2026-04-16 Listed $159,500 ImagineMLS
• 2010-12-10 Sold (Public Records) $39,000 Public Records
• 2010-11-07 Listing Removed — ImagineMLS
• 2010-05-07 Listed $52,900 ImagineMLS