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31
Values stable, rental yield at 6.5%
Updated 13 days ago
Your Investment Paths
Turnkey Rental
428 Richland Church Road offers solid rental prospects with estimated monthly income between $1,549 and $1,610. These figures suggest a healthy market position, supported by local demand and a strong projected annual yield of 6.49%. This property sits in a stable segment of the Gray market. With competitive rental returns and consistent demand for three-bedroom homes, this investment represents a reliable opportunity to build steady cash flow in a balanced neighborhood.
More about this home
Neighborhood Assessment
Gray, KY is a rural spot with plenty of peace and green space—a real quiet country vibe. The nearest public schools, Lynn Camp High and Knox Central High, are 5-8 miles out, so having a car is basically a must. You won't get much walkability here; errands or shopping take some driving. The area’s not buzzing with new development, but it’s steady and laid-back, and there's little local commercial action. For someone seeking tranquil living, it's a nice escape from crowded towns. Home sales in the immediate area tend to run way lower than this home's estimated value. Most nearby three-bedroom homes are listed between $130K and $235K, while this property hits nearly $292K. The recent updates give it a boost, and the 1.98-acre lot is a big plus, but it’ll likely attract folks already looking for an upgraded home in the country—not quick-flip buyers, since comps are mostly smaller and cheaper. Rural properties like this move slower, so patience is key when listing.
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Rental Income
$19K
Yield
6.5%
Year 1 Estimates
Fix-and-Flip
Upgrading your home creates significant value, boosting price per square foot from $130 to $178. This 37% jump makes your property truly shine, helping it stand out while potentially pushing your sale value toward $324,000. Investing in modern finishes is a fantastic way to refresh your lifestyle. While rental income remains stable, these upgrades transform your space into a premium retreat, offering a compelling blend of personal enjoyment and long-term equity.
Value Add
$84K
Post Typical Renovation
Buy-Rehab-Rent
This property offers strong BRR potential with a post-renovation value estimated between 293,000 and 324,000 dollars. Investors can capture significant equity growth, as renovated homes in this market command a premium of nearly 37 percent per square foot. Expected monthly rental income averages 1,695 dollars, delivering a solid 6.6 percent yield. Given the 1993 build and manageable size, this asset provides a reliable, income-producing foundation for a long-term hold in an appreciating local market.
Rental Income
$20K
Yield
6.6%
Year 1 Estimates, Post Typical Renovation
Market Activity
Estimated value
$292K
$80.1K over comp median
Comparative Market Analysis
$148K – $385K
~331 days to sell
Based on 9 comps
428 Richland Church Rd, Gray Investment Report: Flip & Rental Analysis · Frontflip