1100 Keene Rd

Nicholasville, KY 40356

$199,000B

4 bd · 1.5 ba · 2,464 sqft · Built — · SingleFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,275/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$180
• HOA: −$0
• Vac / Maint / Mgmt: −$478
• Net cashflow: $573/mo
• Annual: $6,876/yr
• Cap rate: 9.75%
• Cash-on-cash: 12.34%
• DSCR: 1.55
• 1% rule: 1.14%
• Cash to close: $55,720

Investor read

• This is a 4-bed/1.5-bath single-family listed at $199k.
• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• It's been on market 48 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• 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 66/100 on livability (#231 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Jessamine County (town): math 31% / reading 45% proficiency, ranked #37 of 165 in KY (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brookside Elementary School (math 36% / reading 32%, grade F, #329 of 676 statewide, top 49%, 514 students, 57% FRL); East Jessamine Middle School (math 23% / reading 44%, grade F, #105 of 217 statewide, top 51%, 936 students, 56% FRL).
• Market conditions: Rents rising fast (+7.5%/yr); 496 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 267 units permitted in Jessamine County in 2024 (9 in 5+ unit buildings).
• Jessamine County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 9.7% vs local median 3.4% in Nicholasville — 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.
• This rent runs 37% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.