708 Pike St

Sadieville, KY 40370

$135,000B-

4 bd · 2.0 ba · 1,188 sqft · Built 1996 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,863/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$601
• Net cashflow: $1,441/mo
• Annual: $17,297/yr
• Cap rate: 19.11%
• Cash-on-cash: 45.76%
• DSCR: 3.04
• 1% rule: 2.12%
• Cash to close: $37,800

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $135k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#272 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.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Elementary School (math 43% / reading 48%, grade D-, #142 of 676 statewide, top 21%, 454 students, 34% FRL); Scott County Middle School (math 38% / reading 53%, grade D+, #32 of 217 statewide, top 15%, 864 students, 35% FRL); Scott County High School (math 34% / reading 37%, grade F, #73 of 254 statewide, top 28%, 1,197 students, 40% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 24 active listings in the ZIP; 546 units permitted in Scott County in 2024 (98 in 5+ unit buildings).
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 21y 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 $72k; list at $135k implies a 88% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 19.1% vs local median 2.4% in Sadieville — 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

• 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.