721 Martin Luther King Jr. Dr · Paducah, KY 42001

$215,000

3 bd · 2.0 ba · 2,536 sqft · SingleFamily public records · 118 Days on market

Built 1897 6,970 sqft lot $85/sqft · 28% below area Est $286k · 25% under ↓ 34% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into timeless charm with modern comfort in the heart of Paducah’s sought-after LowerTown Arts District! Built in 1897 & completely restored, this beautiful home perfectly blends historic character with thoughtful modern updates. Enjoy efficient WiFi-controlled HVAC split units for customized comfort upstairs and down, along with lightning-fast fiber internet—ideal for working from home or streaming. The fully restored antique cast-iron clawfoot tub adds classic elegance, while the kitchen features sleek stainless steel appliances. In addition to its cosmetic updates, the crawlspace has been professionally renovated, providing added stability and long-term peace of mind for the next owner. Outside, a spacious backyard with alley access offers room for entertaining, parking, or future possibilities. Whether you’re looking for a unique primary residence or a strong investment opportunity, this home is truly move-in ready. Don’t miss your chance to own a piece of history!

Key facts

• Alley access
• Spacious backyard
• Fiber internet

Tags

• FIBER INTERNET
• ANTIQUE CAST-IRON CLAWFOOT TUB
• STAINLESS STEEL APPLIANCES
• SPACIOUS BACKYARD
• ALLEY ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-37 ($-441/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (28.4% below list).
• Recommended offer: $154k (28.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.5% in Paducah — 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 68/100 on livability (#197 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, employment D.
• Paducah Independent (town): math 22% / reading 36% proficiency, ranked #122 of 165 in KY (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 248 active listings in the ZIP; 187 units permitted in McCracken County in 2024 (104 in 5+ unit buildings).

Forward outlook

• 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.
• McCracken County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $35k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,036 (28.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• GRM: 11.6

CMA / ARV

• ARV (median comp): $286,110
• List price: $215,000
• Delta: -24.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
830 Jefferson St	0.36mi	3/2.0	2,549 (+0%)	4mo	$141,500	$56	79
315 N 8th St	0.22mi	3/2.0	2,316 (-9%)	10mo	$170,000	$73	67
320 Harahan Blvd	0.72mi	3/2.0	2,377 (-6%)	23mo	$248,000	$104	37

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-37,298
• Equity at exit: $32,057

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-35,976
• Equity at exit: $18,589

Cash invested: $60,200 (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 42001

• Home prices YoY: -24.8%
• Active inventory: 248
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,540 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$37 /mo · $439/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-37

Break-even live

Break-even rent $1,587

Max offer price $208,512

Occupancy floor 97%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-17
   days on market $215,000 Active 118 DOM
2. 2026-06-16
   days on market $215,000 Active 117 DOM
3. 2026-06-15
   days on market $215,000 Active 116 DOM
4. 2026-06-14
   days on market $215,000 Active 114 DOM
5. 2026-06-12
   days on market $215,000 Active 113 DOM
6. 2026-06-09
   days on market $215,000 Active 110 DOM
7. 2026-06-08
   days on market $215,000 Active 109 DOM
8. 2026-06-07
   days on market $215,000 Active 108 DOM
9. 2026-06-03
   days on market $215,000 Active 104 DOM
10. 2026-06-02
    days on market $215,000 Active 103 DOM
11. 2026-06-01
    days on market $215,000 Active 102 DOM
12. 2026-05-31
    days on market $215,000 Active 101 DOM
13. 2026-05-30
    days on market $215,000 Active 100 DOM
14. 2026-05-04
    price $215,000 1017-char remark

    Show marketing remark (1017 chars)

    Step into timeless charm with modern comfort in the heart of Paducah’s sought-after LowerTown Arts District! Built in 1897 & completely restored, this beautiful home perfectly blends historic character with thoughtful modern updates. Enjoy efficient WiFi-controlled HVAC split units for customized comfort upstairs and down, along with lightning-fast fiber internet—ideal for working from home or streaming. The fully restored antique cast-iron clawfoot tub adds classic elegance, while the kitchen features sleek stainless steel appliances. In addition to its cosmetic updates, the crawlspace has been professionally renovated, providing added stability and long-term peace of mind for the next owner. Outside, a spacious backyard with alley access offers room for entertaining, parking, or future possibilities. Whether you’re looking for a unique primary residence or a strong investment opportunity, this home is truly move-in ready. Don’t miss your chance to own a piece of history!

15. 2026-04-13
    price $225,000 1017-char remark

    Show marketing remark (1017 chars)

    Step into timeless charm with modern comfort in the heart of Paducah’s sought-after LowerTown Arts District! Built in 1897 & completely restored, this beautiful home perfectly blends historic character with thoughtful modern updates. Enjoy efficient WiFi-controlled HVAC split units for customized comfort upstairs and down, along with lightning-fast fiber internet—ideal for working from home or streaming. The fully restored antique cast-iron clawfoot tub adds classic elegance, while the kitchen features sleek stainless steel appliances. In addition to its cosmetic updates, the crawlspace has been professionally renovated, providing added stability and long-term peace of mind for the next owner. Outside, a spacious backyard with alley access offers room for entertaining, parking, or future possibilities. Whether you’re looking for a unique primary residence or a strong investment opportunity, this home is truly move-in ready. Don’t miss your chance to own a piece of history!

16. 2026-03-26
    price $229,000 1017-char remark

    Show marketing remark (1017 chars)

    Step into timeless charm with modern comfort in the heart of Paducah’s sought-after LowerTown Arts District! Built in 1897 & completely restored, this beautiful home perfectly blends historic character with thoughtful modern updates. Enjoy efficient WiFi-controlled HVAC split units for customized comfort upstairs and down, along with lightning-fast fiber internet—ideal for working from home or streaming. The fully restored antique cast-iron clawfoot tub adds classic elegance, while the kitchen features sleek stainless steel appliances. In addition to its cosmetic updates, the crawlspace has been professionally renovated, providing added stability and long-term peace of mind for the next owner. Outside, a spacious backyard with alley access offers room for entertaining, parking, or future possibilities. Whether you’re looking for a unique primary residence or a strong investment opportunity, this home is truly move-in ready. Don’t miss your chance to own a piece of history!

17. 2026-02-20
    listed $250,000 Active 1017-char remark

    Show marketing remark (1017 chars)

    Step into timeless charm with modern comfort in the heart of Paducah’s sought-after LowerTown Arts District! Built in 1897 & completely restored, this beautiful home perfectly blends historic character with thoughtful modern updates. Enjoy efficient WiFi-controlled HVAC split units for customized comfort upstairs and down, along with lightning-fast fiber internet—ideal for working from home or streaming. The fully restored antique cast-iron clawfoot tub adds classic elegance, while the kitchen features sleek stainless steel appliances. In addition to its cosmetic updates, the crawlspace has been professionally renovated, providing added stability and long-term peace of mind for the next owner. Outside, a spacious backyard with alley access offers room for entertaining, parking, or future possibilities. Whether you’re looking for a unique primary residence or a strong investment opportunity, this home is truly move-in ready. Don’t miss your chance to own a piece of history!

18. 2025-07-29
    soldstatus $216,250
19. 2025-02-01
    listed $239,000 Active
20. 2024-07-30
    price $239,000
21. 2024-07-18
    price $254,900
22. 2024-07-01
    price $259,900
23. 2024-05-24
    price $264,000
24. 2024-04-19
    price $269,000
25. 2024-03-13
    price $275,000
26. 2024-03-01
    price $294,000
27. 2024-01-30
    price $299,000
28. 2023-11-22
    listed $325,000 Active

ⓘ 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: $439 · $37/mo
• Projected year-2 tax: $1,849 · $154/mo
• Expected delta: +$1,410/yr (+$118/mo · 321.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,484
• − Mortgage interest: −$12,043
• − Property taxes: −$439
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$6,255
• Taxable loss: −$4,285
• Est. tax savings @ 24.0%: +$1,028
• After-tax cash flow: $588/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: Paducah Independent
• NCES district ID: 2104650
• Math proficiency: 22% ▼ -14.00%
• Reading proficiency: 36% ▼ -17.00%
• Median HH income: $30,067
• Composite: 23.41/100
• National rank: #7896
• State rank: #122 of 165 in KY

Livability — Paducah

• Score: 68/100
• State rank: #197
• US rank: #9780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paducah, KY
• County: McCracken County · 30,856 people
• City population: 30,856
• Metro: Paducah, KY-IL
• Population (ZIP): 30,856
• Household income: $71,365
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1001.0

Population outlook (McCracken County) Hauer SSP2

• Today (2025): 64,237 people
• By 2030: 63,468 · -1.2%
• By 2040: 61,221 · -4.7%
• By 2050: 58,432 · -9.0%
• By 2075: 52,668 · -18.0%
• By 2100: 44,517 · -30.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 2% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · McCracken

• 2024 margin: Solid R (+34.9) · D 31.9% · R 66.8% · Other 1.2%
• 2008→2024 swing: -9.7pp toward R · 2008: -25.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+31.7 2016: R+37.2 2012: R+32.5 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.23%
• Current HPI: 258.1706
• Rent YoY: —
• Metro: Paducah, KY-IL
• 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

-33.8% since first listed

15 events — show timeline

• 2026-05-04 Price Changed $215,000 WKRMLS
• 2026-04-13 Price Changed $225,000 WKRMLS
• 2026-03-26 Price Changed $229,000 WKRMLS
• 2026-02-20 Listed $250,000 WKRMLS
• 2025-07-29 Sold (Public Records) $216,250 Public Records
• 2025-02-01 Listed $239,000 WKRMLS
• 2024-07-30 Price Changed $239,000 WKRMLS
• 2024-07-18 Price Changed $254,900 WKRMLS
• 2024-07-01 Price Changed $259,900 WKRMLS
• 2024-05-24 Price Changed $264,000 WKRMLS
• 2024-04-19 Price Changed $269,000 WKRMLS
• 2024-03-13 Price Changed $275,000 WKRMLS
• 2024-03-01 Price Changed $294,000 WKRMLS
• 2024-01-30 Price Changed $299,000 WKRMLS
• 2023-11-22 Listed $325,000 WKRMLS

Property tax history

-2.4%/yr

Latest (2025): $439 · -0.8% YoY. Source: county tax records.