3060 Cane Ridge Rd · North Middletown, KY 40361

$50,000

2 bd · 1.0 ba · 816 sqft · Other public records · 31 Days on market

9,321 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you are looking for a fixer upper that you want to put your own design on, 3060 Cane ridge rd. is the property for you!!! This house needs a full redo. It is part of a 10 property portfolio that can be purchased as a package or separately. Use caution when entering the property. Buyer or buyer agent to verify sq. ft. and schools

Key facts

• 9,321 sq ft lot
• Listed 31 days

Property features AI

Exterior

• Utilities: Septic tank sewer
• Home design: House; Two levels
• Construction: 816 building area total
• Exterior features: Metal roof; Stone and other foundation details; Vinyl siding and other construction materials; Public water

Interior

• Bedrooms: 2 total rooms (includes bedroom count)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Interior features: Hardwood flooring; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#409 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Bourbon County (town): math 26% / reading 32% proficiency, ranked #108 of 165 in KY (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cane Ridge Elementary School (math 25% / reading 26%, grade F, #477 of 676 statewide, top 71%, 464 students, 56% FRL); Bourbon County Middle School (math 25% / reading 38%, grade F, #125 of 217 statewide, top 63%, 593 students, 63% FRL); Bourbon County High School (math 27% / reading 32%, grade F, #127 of 254 statewide, top 58%, 790 students, 53% FRL).
• Market conditions: 126 active listings in the ZIP; 90 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.18% ✓
• Cap rate: 19.62%
• Cash-on-cash: 47.60%
• DSCR: 3.12
• GRM: 3.8

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: 38.6%
• Equity multiple: 2.65×
• Total profit: $23,065
• Equity at exit: $7,455

10-year hold

• IRR: 45.1%
• Equity multiple: 5.31×
• Total profit: $60,306
• Equity at exit: $4,323

Cash invested: $14,000 (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 40361

• Home prices YoY: -23.1%
• Active inventory: 126
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$21 /mo · $256/yr
• Insurance: −$21
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $489

Break-even live

Break-even rent $469

Max offer price $50,000

Occupancy floor 50%

Sensitivity live

Price	-10% $517	-5% $503	+0% $489	+5% $475	+10% $461
Rent	-10% $403	-5% $446	+0% $489	+5% $532	+10% $575
Rate	-1.0pp $514	-0.5pp $502	base $489	+0.5pp $476	+1.0pp $463

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $50,000 Active 31 DOM
2. 2026-06-17
   days on market $50,000 Active 30 DOM
3. 2026-06-16
   days on market $50,000 Active 29 DOM
4. 2026-06-15
   days on market $50,000 Active 28 DOM
5. 2026-06-14
   days on market $50,000 Active 26 DOM
6. 2026-06-13
   days on market $50,000 Active 25 DOM
7. 2026-06-10
   days on market $50,000 Active 23 DOM
8. 2026-06-09
   days on market $50,000 Active 22 DOM
9. 2026-06-08
   days on market $50,000 Active 21 DOM
10. 2026-06-07
    days on market $50,000 Active 20 DOM
11. 2026-06-03
    days on market $50,000 Active 16 DOM
12. 2026-06-02
    days on market $50,000 Active 15 DOM
13. 2026-06-01
    days on market $50,000 Active 14 DOM
14. 2026-05-31
    days on market $50,000 Active 13 DOM
15. 2026-05-31
    days on market $50,000 Active 12 DOM
16. 2026-05-18
    listed $50,000 Active

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

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $256 · $21/mo
• Projected year-2 tax: $430 · $36/mo
• Expected delta: +$174/yr (+$15/mo · 68.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 4% 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: $13,058
• − Mortgage interest: −$2,801
• − Property taxes: −$256
• − Insurance: −$1,048
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,455
• Taxable income: $5,410
• Est. tax owed @ 24.0%: −$1,298
• After-tax cash flow: $4,568/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: Bourbon County
• NCES district ID: 2100540
• Math proficiency: 26% ▼ -19.00%
• Reading proficiency: 32% ▼ -21.00%
• Median HH income: $47,654
• Composite: 25.13/100
• National rank: #7523
• State rank: #108 of 165 in KY

Livability — North Middletown

• Score: 59/100
• State rank: #409
• US rank: #19598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bourbon County · 18,361 people
• City population: 94
• Metro: Lexington-Fayette, KY
• Population (ZIP): 18,361
• Household income: $63,333
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 509.0

Population outlook (Bourbon County) Hauer SSP2

• Today (2025): 20,485 people
• By 2030: 20,559 · +0.4%
• By 2040: 20,491 · +0.0%
• By 2050: 20,065 · -2.1%
• By 2075: 19,173 · -6.4%
• By 2100: 16,646 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Slovak 2% Serbian 2% Iranian 2%
• Foreign-born: 4% · Canada, Dominican Republic
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Bourbon

• 2024 margin: Solid R (+33.5) · D 32.4% · R 65.9% · Other 1.7%
• 2008→2024 swing: -16.3pp toward R · 2008: -17.2pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.0 2016: R+31.6 2012: R+20.4 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.90%
• Current HPI: 241.9393
• Rent YoY: —
• 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

Price history

1 event — show timeline

• 2026-05-18 Listed $50,000 ImagineMLS

Property tax history

+6.6%/yr

Latest (2025): $256 · -1.0% YoY. Source: county tax records.