3639 Mayfield Rd

Wickliffe, KY 42087

$96,000C+

2 bd · 1.0 ba · 1,219 sqft · Built — · Other · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,026/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$64
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $243/mo
• Annual: $2,910/yr
• Cap rate: 9.32%
• Cash-on-cash: 10.83%
• DSCR: 1.48
• 1% rule: 1.07%
• Cash to close: $26,880

Investor read

• This is a 2-bed/1.0-bath other listed at $96k.
• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• It's been on market 46 days — a 3% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.0%/yr); year-one equity from $664 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#429 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Ballard County (rural): math 31% / reading 40% proficiency, ranked #61 of 165 in KY (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ballard County Elementary School (math 38% / reading 41%, grade F, #208 of 676 statewide, top 34%, 467 students, 58% FRL); Ballard County Middle School (math 24% / reading 39%, grade F, #125 of 217 statewide, top 63%, 215 students, 58% FRL).
• Market conditions: 16 active listings in the ZIP.
• Ballard County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $19k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 46 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 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?
• 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.