9151 Us-60

Salt Lick, KY 40371

$19,900D+

3 bd · 1.0 ba · 1,484 sqft · Built 1915 · SingleFamily · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,167/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$180
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $638/mo
• Annual: $7,652/yr
• Cap rate: 52.29%
• Cash-on-cash: 164.29%
• DSCR: 8.31
• 1% rule: 5.87%
• Cash to close: $5,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 137 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.6%/yr); year-one equity from $138 of loan paydown is wiped out by about $522 of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#453 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety D+, amenities F, commute F.
• Bath County (rural): math 19% / reading 34% proficiency, ranked #139 of 165 in KY (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Crossroads Elementary School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 395 students, 80% FRL); Bath County Middle School (math 16% / reading 33%, grade F, #189 of 217 statewide, top 89%, 416 students, 78% FRL); Bath County High School (math 32% / reading 37%, grade F, #76 of 254 statewide, top 34%, 618 students, 77% FRL) — zoned schools average 78% FRL vs 60% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.8% of price; flood insurance adds $125/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP.
• Bath County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-2.6% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 F-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?