690 Sunset Dr

Vine Grove, KY 40175

$253,500D

4 bd · 2.0 ba · 1,944 sqft · Built 1998 · Other · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,082/mo
• Mortgage (P&I): −$1,329
• Tax + insurance: −$311
• HOA: −$0
• Vac / Maint / Mgmt: −$437
• Net cashflow: $4/mo
• Annual: $47/yr
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• 1% rule: 0.82%
• Cash to close: $70,980

Investor read

• This is a 4-bed/2.0-bath other listed at $254k.
• At list price, monthly cash flow is $4 ($47/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (17.9% below list).
• It's been on market 33 days — a 3% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (17.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#124 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Meade County (rural): math 41% / reading 48% proficiency, ranked #21 of 165 in KY (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 155 active listings in the ZIP; 124 units permitted in Meade County in 2024 (0 in 5+ unit buildings).
• Meade County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 3y 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 $220k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.3% vs local median 4.0% in Vine Grove — 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

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 18% 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.
• 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.
• 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.