1249 Kentucky St · Bowling Green, KY 42101

$379,900

35 bd · 25.0 ba · — sqft · MultiFamily · 112 Days on market

Built 1933 0.25 ac lot ↓ 18% since listing

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Prime investment opportunity in downtown Bowling Green just steps from Western Kentucky University and Fountain Square Park. This 5-unit property features a well maintained 4plex plus an additional 1 bed, 1 bath cottage, offering strong rental history with upside potential through future rent increases. High demand location near campus, dining, and entertainment makes this a consistent income producer with long term appreciation potential.

Key facts

• High demand location
• 0.25 acre lot
• Built 1933

Tags

• INVESTMENT OPPORTUNITY
• STRONG RENTAL HISTORY
• HIGH DEMAND LOCATION
• CONSISTENT INCOME PRODUCER

Property features AI

Finance

• Other: Lot approximately 0.25 acre

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property — quadruplex (multi-family)
• Construction: Frame construction
• Exterior features: Shingle roof

Interior

• Bathrooms: Five full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Has heating

What this means for you Summary

Snapshot

• This is a 5 × 7-bed/5.0-bath units multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $6k ($69k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $380k).
• Recommended offer: $346k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.6% vs local median 3.2% in Bowling Green — 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 65/100 on livability (#255 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Bowling Green Independent (urban): math 37% / reading 41% proficiency, ranked #44 of 165 in KY (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Parker-Bennett-Curry School (math 22% / reading 22%, grade F, #525 of 676 statewide, top 82%, 346 students, 100% FRL); Bowling Green Junior High (math 37% / reading 46%, grade F, #51 of 217 statewide, top 24%, 963 students, 65% FRL); Bowling Green High School (math 39% / reading 39%, grade F, #51 of 254 statewide, top 21%, 1,294 students, 58% FRL) — zoned schools average 74% FRL vs 53% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 591 active listings in the ZIP; 2,286 units permitted in Warren County in 2024 (1,410 in 5+ unit buildings).
• At $10,646/mo this rent would consume 265% of the median local household income ($48k/yr) (locally 3855% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Warren County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.3% rent growth), your $106k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($346k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $345,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.80% ✓
• Cap rate: 24.57%
• Cash-on-cash: 65.26%
• DSCR: 3.90
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.28% rent growth · sell at horizon

5-year hold

• IRR: 61.3%
• Equity multiple: 3.62×
• Total profit: $278,681
• Equity at exit: $56,644

10-year hold

• IRR: 65.0%
• Equity multiple: 6.71×
• Total profit: $607,527
• Equity at exit: $32,847

Cash invested: $106,372 (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 42101

• Home prices YoY: -20.9%
• Rents YoY: 0.3%
• Active inventory: 591
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $10,646 medium
• Mortgage (P&I): −$1,992
• Tax est. 1.5%: −$475 /mo · $5,698/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,236
• Net cashflow: $5,785

Break-even live

Break-even rent $3,323

Max offer price $379,900

Occupancy floor 41%

Sensitivity live

Price	-10% $6,047	-5% $5,916	+0% $5,785	+5% $5,654	+10% $5,522
Rent	-10% $4,944	-5% $5,364	+0% $5,785	+5% $6,205	+10% $6,626
Rate	-1.0pp $5,976	-0.5pp $5,882	base $5,785	+0.5pp $5,686	+1.0pp $5,586

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	7	5	$10,645
Total (5 units)			$10,646

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $379,900 Active 112 DOM
2. 2026-06-18
   days on market $379,900 Active 111 DOM
3. 2026-06-17
   days on market $379,900 Active 110 DOM
4. 2026-06-16
   days on market $379,900 Active 109 DOM
5. 2026-06-15
   days on market $379,900 Active 108 DOM
6. 2026-06-14
   days on market $379,900 Active 106 DOM
7. 2026-06-13
   days on market $379,900 Active 105 DOM
8. 2026-06-10
   days on market $379,900 Active 103 DOM
9. 2026-06-09
   days on market $379,900 Active 102 DOM
10. 2026-06-08
    days on market $379,900 Active 101 DOM
11. 2026-06-07
    days on market $379,900 Active 100 DOM
12. 2026-06-02
    days on market $379,900 Active 95 DOM
13. 2026-06-01
    days on market $379,900 Active 94 DOM
14. 2026-05-31
    days on market $379,900 Active 93 DOM
15. 2026-05-30
    days on market $379,900 Active 92 DOM
16. 2026-04-02
    price $379,900
17. 2026-02-27
    listed $389,900 Active
18. 2025-12-29
    listed Active
19. 2024-05-06
    price $434,900
20. 2024-03-12
    listed $439,900 Active
21. 2022-12-18
    historical
22. 2022-03-28
    listed $464,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $127,752
• − Mortgage interest: −$21,280
• − Property taxes: −$5,698
• − Insurance: −$1,900
• − Repairs & maintenance: −$10,220
• − Management: −$10,220
• − Depreciation: −$11,052
• Taxable income: $67,382
• Est. tax owed @ 24.0%: −$16,172
• After-tax cash flow: $53,248/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: Bowling Green Independent
• NCES district ID: 2100570
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 41% ▼ -15.00%
• Median HH income: $31,181
• Composite: 31.86/100
• National rank: #5870
• State rank: #44 of 165 in KY

Livability — Bowling Green

• Score: 65/100
• State rank: #255
• US rank: #12782

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bowling Green, KY
• County: Warren County · 129,408 people
• City population: 129,408
• Metro: Bowling Green, KY
• Population (ZIP): 65,421
• Household income: $48,217
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 3855.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 144,620 people
• By 2030: 155,977 · +7.9%
• By 2040: 179,381 · +24.0%
• By 2050: 203,713 · +40.9%
• By 2075: 267,291 · +84.8%
• By 2100: 314,019 · +117.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 13% Hispanic / Latino 10% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% American 1% Italian 1%
• Foreign-born: 10% · Canada, Philippines
• Languages at home: 84% English-only · Spanish 8% Other Asian/Pacific 2% Russian/Polish/Slavic 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+24.3) · D 37.0% · R 61.3% · Other 1.6%
• 2008→2024 swing: -5.4pp toward R · 2008: -18.9pp · 2024: -24.3pp
• All cycles: 2024: R+24.3 2020: R+16.8 2016: R+24.2 2012: R+21.8 2008: R+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.34%
• Current HPI: 277.6554
• Rent YoY: ▲ 0.28%
• Metro: Bowling Green, KY
• 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

-18.3% since first listed

7 events — show timeline

• 2026-04-02 Price Changed $379,900 RASKMLS
• 2026-02-27 Listed $389,900 RASKMLS
• 2025-12-29 Listed — RASKMLS
• 2024-05-06 Price Changed $434,900 RASKMLS
• 2024-03-12 Listed $439,900 RASKMLS
• 2022-12-18 Rental Removed — RENT.
• 2022-03-28 Listed $464,900 RASKMLS