856 Buford Rd

Pleasant Ridge, KY 42376

$150,000C

3 bd · 2.0 ba · 1,232 sqft · Built 1994 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,768/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$371
• Net cashflow: $360/mo
• Annual: $4,323/yr
• Cap rate: 9.17%
• Cash-on-cash: 10.29%
• DSCR: 1.46
• 1% rule: 1.18%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath other listed at $150k.
• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ohio County (rural): math 29% / reading 44% proficiency, ranked #58 of 165 in KY (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wayland Alexander Elementary School (math 36% / reading 47%, grade F, #197 of 676 statewide, top 29%, 659 students, 67% FRL); Ohio County Middle School (math 30% / reading 44%, grade F, #80 of 217 statewide, top 41%, 550 students, 62% FRL); Ohio County High School (math 39% / reading 48%, grade F, #28 of 254 statewide, top 11%, 1,144 students, 57% FRL).
• Market conditions: 52 active listings in the ZIP; 17 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).
• Current owner paid $18k; list at $150k implies a 738% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.