61-2 Woodson Bend Resort · Burnside, KY 42518

$204,900

2 bd · 1.0 ba · 925 sqft · Condo public records · 998 Days on market

Built 1972 $222/sqft · 6% below area Est $249k · 18% 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks MLS

Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

Key facts

• Community pool
• Built 1972
• Listed 997 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $-240 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (15.5% below list).
• Recommended offer: $173k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.0% in Burnside — 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 71/100 on livability (#141 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Pulaski County (town): math 43% / reading 53% proficiency, ranked #17 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 117 units permitted in Pulaski County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 998 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $205k implies a 128% gain — meaningful room to come down on a strong offer.

Recommended offer $173,164 (15.5% 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 998 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 9.9

CMA / ARV

• ARV (median comp): $248,663
• List price: $204,900
• Delta: -17.60%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $96,429
• Equity at exit: $184,590

10-year hold

• IRR: 18.9%
• Equity multiple: 6.16×
• Total profit: $296,294
• Equity at exit: $398,076

Cash invested: $57,372 (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 42518

• Active inventory: 50
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$105 /mo · $1,266/yr
• Insurance: −$85
• HOA est. from 8 same-building comps: −$343
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-240

Break-even live

Break-even rent $2,036

Max offer price $162,438

Occupancy floor —

Sensitivity live

Price	-10% $-124	-5% $-182	+0% $-240	+5% $-298	+10% $-356
Rent	-10% $-377	-5% $-309	+0% $-240	+5% $-172	+10% $-104
Rate	-1.0pp $-137	-0.5pp $-188	base $-240	+0.5pp $-293	+1.0pp $-347

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrashlandscapingexterior maint.poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-22
   days on market $204,900 Active 998 DOM
2. 2026-06-21
   days on market $204,900 Active 997 DOM
3. 2026-06-21
   days on market $204,900 Active 996 DOM
4. 2026-06-18
   days on market $204,900 Active 994 DOM
5. 2026-06-17
   days on market $204,900 Active 993 DOM
6. 2026-06-16
   days on market $204,900 Active 992 DOM
7. 2026-06-15
   days on market $204,900 Active 991 DOM
8. 2026-06-13
   days on market $204,900 Active 989 DOM
9. 2026-06-12
   days on market $204,900 Active 988 DOM
10. 2026-06-09
    days on market $204,900 Active 985 DOM
11. 2026-06-08
    days on market $204,900 Active 984 DOM
12. 2026-06-07
    days on market $204,900 Active 983 DOM
13. 2026-06-07
    days on market $204,900 Active 982 DOM
14. 2026-06-04
    days on market $204,900 Active 979 DOM
15. 2026-06-02
    days on market $204,900 Active 978 DOM
16. 2026-06-01
    days on market $204,900 Active 977 DOM
17. 2026-05-31
    days on market $204,900 Active 976 DOM
18. 2026-05-31
    days on market $204,900 Active 975 DOM
19. 2026-03-20
    price $204,900 632-char remark

    Show marketing remark (632 chars)

    Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

20. 2025-09-28
    price $209,900 632-char remark

    Show marketing remark (632 chars)

    Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

21. 2025-05-03
    price $214,900 632-char remark

    Show marketing remark (632 chars)

    Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

22. 2025-02-19
    price $224,900 632-char remark

    Show marketing remark (632 chars)

    Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

23. 2024-04-21
    price $229,900 632-char remark

    Show marketing remark (632 chars)

    Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

24. 2023-09-28
    listed $239,900 Active 632-char remark

    Show marketing remark (632 chars)

    Absolutely adorable 2 bedroom 1 full bath condo. Located in Woodson Bend Resort within close proximity to the social hub of Woodson Bend but building is situated to allow for a large yard space and privacy. Condo has open floor plan with large kitchen 2 very large bedrooms and one full bath. The screened in porch has sliders to allow for year round entertainment and beautiful views of wildlife. Amenities include 24 hour manned security, water, daily trash service, sewer, seasonal restaurant, volleyball, pickle ball, tennis courts, pool, community social gatherings, boat launch, exterior maintenance, playgrounds and a marina.

25. 2023-02-03
    status Active
26. 2022-10-29
    listed $239,000 Active
27. 2009-05-16
    soldstatus $89,900

ⓘ 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: $1,266 · $105/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$496/yr (+$41/mo · 39.2%)

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

Taxation est. · year 1

• Rental income: $20,780
• − Mortgage interest: −$11,478
• − Property taxes: −$1,266
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − HOA: −$4,116
• − Depreciation: −$5,961
• Taxable loss: −$6,390
• Est. tax savings @ 24.0%: +$1,533
• After-tax cash flow: $-1,351/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: Pulaski County
• NCES district ID: 2104950
• Math proficiency: 43% ▼ -18.00%
• Reading proficiency: 53% ▼ -13.00%
• Median HH income: $35,366
• Composite: 39.69/100
• National rank: #3906
• State rank: #17 of 165 in KY

Livability — Burnside

• Score: 71/100
• State rank: #141
• US rank: #6774

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,946

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 65,414 people
• By 2030: 65,828 · +0.6%
• By 2040: 65,972 · +0.9%
• By 2050: 65,108 · -0.5%
• By 2075: 61,647 · -5.8%
• By 2100: 53,613 · -18.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+65.2) · D 16.9% · R 82.1% · Other 1.0%
• 2008→2024 swing: -9.9pp toward R · 2008: -55.4pp · 2024: -65.2pp
• All cycles: 2024: R+65.2 2020: R+62.7 2016: R+66.7 2012: R+60.5 2008: R+55.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 111.57%
• Current HPI: 360.0351
• Rent YoY: —
• Metro: —
• 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

+127.9% since first listed

9 events — show timeline

• 2026-03-20 Price Changed $204,900 ImagineMLS
• 2025-09-28 Price Changed $209,900 ImagineMLS
• 2025-05-03 Price Changed $214,900 ImagineMLS
• 2025-02-19 Price Changed $224,900 ImagineMLS
• 2024-04-21 Price Changed $229,900 ImagineMLS
• 2023-09-28 Listed $239,900 ImagineMLS
• 2023-02-03 Relisted — ImagineMLS
• 2022-10-29 Listed $239,000 ImagineMLS
• 2009-05-16 Sold (Public Records) $89,900 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,266 · -2.3% YoY. Source: county tax records.