214 Cunningham St

Sadieville, KY 40370

$190,000B

3 bd · 1.5 ba · 1,568 sqft · Built — · Other · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,801/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$588
• Net cashflow: $1,002/mo
• Annual: $12,020/yr
• Cap rate: 12.62%
• Cash-on-cash: 22.59%
• DSCR: 2.01
• 1% rule: 1.47%
• Cash to close: $53,200

Investor read

• This is a 3-bed/1.5-bath other listed at $190k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• It's been on market 46 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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); Royal Spring Middle School (math 34% / reading 54%, grade D, #40 of 217 statewide, top 19%, 726 students, 44% 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 39% FRL track the district average.
• Market conditions: 25 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.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

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.