10770 Brown Ridge Rd · Morehead, KY 40351

$155,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 25 Days on market

Built 1962 0.96 ac lot Est $136k · 14% over

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Why this score? — see what drove the D 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).

• Cash flow +21.0/30.0
• DSCR +6.7/10.0
• 1% rule +4.4/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

Key facts

• 0.96 acre lot
• 2 garage spots
• Built 1962

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/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 $145k (6.3% below list).
• Recommended offer: $145k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.7% in Morehead — 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 62/100 on livability (#345 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: health & safety C-, housing D, amenities F.
• Rowan County (rural): math 28% / reading 41% proficiency, ranked #74 of 165 in KY (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rodburn Elementary School (math 17% / reading 37%, grade F, #434 of 676 statewide, top 69%, 403 students, 77% FRL); Rowan County Middle School (math 31% / reading 46%, grade F, #68 of 217 statewide, top 32%, 716 students, 62% FRL); Rowan County Senior High School (math 29% / reading 31%, grade F, #122 of 254 statewide, top 49%, 1,017 students, 60% FRL).
• Market conditions: 147 active listings in the ZIP; 15 units permitted in Rowan County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rowan County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $124k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,233 (6.3% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $136,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10770 Brown Ridge Rd	0.00mi	3/1.0	1,110 (+7%)	1mo	$145,000	$131	88

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-11,220
• Equity at exit: $23,111

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $7,940
• Equity at exit: $13,402

Cash invested: $43,400 (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 40351

• Home prices YoY: -22.6%
• Active inventory: 147
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,452 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $219

Break-even live

Break-even rent $1,175

Max offer price $155,000

Occupancy floor 80%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-28
   status Pending
2. 2026-04-14
   historical Contingent
3. 2026-04-04
   listed $155,000 Active
4. 2022-05-02
   soldstatus $124,500
5. 2022-04-11
   soldstatus $124,500 Closed 255-char remark

   Show marketing remark (255 chars)

   If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

6. 2022-02-28
   status Pending 255-char remark

   Show marketing remark (255 chars)

   If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

7. 2021-11-12
   price $138,000 255-char remark

   Show marketing remark (255 chars)

   If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

8. 2021-10-24
   price $145,000 255-char remark

   Show marketing remark (255 chars)

   If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

9. 2021-10-09
   status Active 255-char remark

   Show marketing remark (255 chars)

   If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

10. 2021-09-25
    status Pending 255-char remark

    Show marketing remark (255 chars)

    If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

11. 2021-09-23
    listed $150,000 Active 255-char remark

    Show marketing remark (255 chars)

    If you're looking for a little slice of heaven in Eastern Kentucky, look no further! This 3 bed 1 bath home sitting on .8 acres is move in ready and only 25 minutes from downtown Morehead! This home also features a huge detached garage, shed, and carport.

12. 2021-05-03
    historical 126-char remark

    Show marketing remark (126 chars)

    Adorable and well maintained farmhouse on .96 acres with huge detached garage/shop building. This 3 bedroom, 1 bathroom house.

13. 2021-04-27
    soldstatus $120,000
14. 2021-04-26
    soldstatus $120,000 Closed 126-char remark

    Show marketing remark (126 chars)

    Adorable and well maintained farmhouse on .96 acres with huge detached garage/shop building. This 3 bedroom, 1 bathroom house.

15. 2021-03-22
    listed $128,500 126-char remark

    Show marketing remark (126 chars)

    Adorable and well maintained farmhouse on .96 acres with huge detached garage/shop building. This 3 bedroom, 1 bathroom house.

16. 2021-03-22
    historical 126-char remark

    Show marketing remark (126 chars)

    Adorable and well maintained farmhouse on .96 acres with huge detached garage/shop building. This 3 bedroom, 1 bathroom house.

ⓘ 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: $608 · $51/mo
• Projected year-2 tax: $1,333 · $111/mo
• Expected delta: +$725/yr (+$60/mo · 119.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,428
• − Mortgage interest: −$8,682
• − Property taxes: −$608
• − Insurance: −$775
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$4,509
• Taxable income: $65
• Est. tax owed @ 24.0%: −$16
• After-tax cash flow: $2,615/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: Rowan County
• NCES district ID: 2105100
• Math proficiency: 28% ▼ -19.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $35,139
• Composite: 28.47/100
• National rank: #6742
• State rank: #74 of 165 in KY

Livability — Morehead

• Score: 62/100
• State rank: #345
• US rank: #16479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rowan County · 22,322 people
• City population: 22,322
• Metro: nan
• Population (ZIP): 22,322
• Household income: $51,835
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 589.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 27,518 people
• By 2030: 29,242 · +6.3%
• By 2040: 32,949 · +19.7%
• By 2050: 37,128 · +34.9%
• By 2075: 49,130 · +78.5%
• By 2100: 59,014 · +114.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2% Black 1%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Rowan

• 2024 margin: Strong R (+27.8) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -29.8pp toward R · 2008: 2.0pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+21.0 2016: R+21.3 2012: R+7.8 2008: D+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.28%
• Current HPI: 203.0786
• Rent YoY: —
• Metro: nan
• 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

+20.6% since first listed

16 events — show timeline

• 2026-04-28 Pending — ImagineMLS
• 2026-04-14 Contingent — ImagineMLS
• 2026-04-04 Listed $155,000 ImagineMLS
• 2022-05-02 Sold (Public Records) $124,500 Public Records
• 2022-04-11 Sold (MLS) $124,500 ImagineMLS
• 2022-02-28 Pending — ImagineMLS
• 2021-11-12 Price Changed $138,000 ImagineMLS
• 2021-10-24 Price Changed $145,000 ImagineMLS
• 2021-10-09 Relisted — ImagineMLS
• 2021-09-25 Pending — ImagineMLS
• 2021-09-23 Listed $150,000 ImagineMLS
• 2021-05-03 Listing Removed — ImagineMLS
• 2021-04-27 Sold (Public Records) $120,000 Public Records
• 2021-04-26 Sold (MLS) $120,000 ImagineMLS
• 2021-03-22 Listing Removed — ImagineMLS
• 2021-03-22 Listed $128,500 ImagineMLS