1033 High St · Shelbyville, KY 40065

$1

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 34 Days on market

Built 1993 8,712 sqft lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.3/30.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Public auction on May 9th at 10 AM at the Shelby County Fair Grounds in the Floral Hall. Open House on April 19th from 2 to 4 PM. Home was built in 1993 and is in great condition. 2-bedroom 1 bath. Lot size is estimated.

Key facts

• 8,712 sq ft lot
• Built 1993
• Listed 34 days

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $176,643 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-236 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 4.7% vs local median 3.5% in Shelbyville — 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 75/100 on livability (#101 in KY, #4,143 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D, amenities F, commute F.
• Shelby County (town): math 26% / reading 37% proficiency, ranked #77 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 292 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 237 units permitted in Shelby County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Shelby County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 264964.2% of price.
• 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 $1

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 34 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 4.69%
• Cash-on-cash: -5.73%
• DSCR: 0.74
• GRM: 11.8

CMA / ARV

• ARV (median comp): $176,643
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1033 High St	0.00mi	2/1.0	768 (0%)	0mo	$99,000	$129	100
104 Martin Luther King Junior St	0.07mi	2/1.0	801 (+4%)	1mo	$104,500	$130	89
1204 Park St	0.18mi	2/1.0	753 (-2%)	5mo	$45,000	$60	84
1030 High St	0.02mi	2/1.0	861 (+12%)	0mo	$88,000	$102	79
76 Pearl St	0.24mi	2/1.0	724 (-6%)	15mo	$140,000	$193	67
105 Ada Ave	0.50mi	2/1.0	864 (+12%)	11mo	$195,000	$226	47
904 Brown Ave	0.59mi	2/1.0	866 (+13%)	17mo	$195,000	$225	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: -26.1%
• Equity multiple: 0.12×
• Total profit: $-43,652
• Equity at exit: $26,338

10-year hold

• IRR: -22.9%
• Equity multiple: -0.16×
• Total profit: $-57,311
• Equity at exit: $15,273

Cash invested: $49,460 (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 40065

• Active inventory: 292

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$926
• Tax est. 1.5%: −$221 /mo · $2,650/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-236

Break-even live

Break-even rent $1,545

Max offer price $142,456

Occupancy floor —

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: $44,161
• Closing costs: $5,299
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Martin Luther King Jr St Shelbyville, KY	2.0	1.0	909	$1,295	$1.42	17d	1	0.11mi
1016 Washington St Unit 2 Shelbyville, KY	1.0	1.0	600	$825	$1.38	23d	1	0.20mi
113 Ada Ave Shelbyville, KY	2.0	1.5	1008	$1,025	$1.02	43d	1	0.51mi
1569 Sanford Ln Shelbyville, KY	1.0–2.0	1.0–2.0	1017	$1,225	$1.20	1d	5	0.62mi
149 Gray Hill Ct Shelbyville, KY	2.0	1.5	1050	$895	$0.85	23d	1	0.87mi
3025 Squire Cir Shelbyville, KY	1.0	1.0	720	$992	$1.38	10d	1	0.92mi
874 Marian Village Dr Shelbyville, KY	2.0–3.0	1.5–2.0	1015	$1,095	$1.08	1d	4	1.08mi
1856 Blackwell Rd Unit 1858 Blackwell Shelbyville, KY	3.0	2.0	1100	$1,695	$1.54	43d	1	1.18mi
1814 Oakwood Dr Shelbyville, KY	3.0	1.0	1050	$1,599	$1.52	43d	1	1.19mi

Listing history 2 events

1. 2026-05-12
   status Pending 220-char remark

   Show marketing remark (220 chars)

   Public auction on May 9th at 10 AM at the Shelby County Fair Grounds in the Floral Hall. Open House on April 19th from 2 to 4 PM. Home was built in 1993 and is in great condition. 2-bedroom 1 bath. Lot size is estimated.

2. 2026-04-08
   listed $1 Active 220-char remark

   Show marketing remark (220 chars)

   Public auction on May 9th at 10 AM at the Shelby County Fair Grounds in the Floral Hall. Open House on April 19th from 2 to 4 PM. Home was built in 1993 and is in great condition. 2-bedroom 1 bath. Lot size is estimated.

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,954
• − Mortgage interest: −$9,895
• − Property taxes: −$2,650
• − Insurance: −$883
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$5,139
• Taxable loss: −$6,005
• Est. tax savings @ 24.0%: +$1,441
• After-tax cash flow: $-1,394/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: Shelby County
• NCES district ID: 2105320
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 37% ▼ -11.00%
• Median HH income: $58,163
• Composite: 28.19/100
• National rank: #6809
• State rank: #77 of 165 in KY

Livability — Shelbyville

• Score: 75/100
• State rank: #101
• US rank: #4143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, KY
• County: Shelby County · 32,160 people
• City population: 32,160
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 32,160
• Household income: $77,869
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 655.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 52,947 people
• By 2030: 56,624 · +6.9%
• By 2040: 63,983 · +20.8%
• By 2050: 70,917 · +33.9%
• By 2075: 87,345 · +65.0%
• By 2100: 97,345 · +83.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 11% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+34.7) · D 31.8% · R 66.5% · Other 1.7%
• 2008→2024 swing: -10.0pp toward R · 2008: -24.7pp · 2024: -34.7pp
• All cycles: 2024: R+34.7 2020: R+29.6 2016: R+33.6 2012: R+27.6 2008: R+24.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.73%
• Current HPI: 177.2875
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-IN
• 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

Property tax history

-1.2%/yr

Latest (2025): $376 · -0.9% YoY. Source: county tax records.