103 N Main St · Elkton, KY 42220

$150,000

None bd · 2.0 ba · 1,600 sqft · MultiFamily · 262 Days on market

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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 +29.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +3.4/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

-103 and 105 South Main Street Elkton, Ky 42220 -Two separate office spaces being sold as one. -Approximately 1600 square feet -Both sides have bathrooms, one has kitchen -Separate HVAC -Has potential for a drive-up window if wanted -270-604-2070

Key facts

• Separate hvac
• One has kitchen
• Listed 262 days

Tags

• SEPARATE OFFICE SPACES
• BOTH SIDES HAVE BATHROOMS
• ONE HAS KITCHEN
• SEPARATE HVAC

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.4% in Elkton — 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 59/100 on livability (#419 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: schools D-, amenities F, commute F.
• Todd County (rural): math 23% / reading 39% proficiency, ranked #99 of 165 in KY (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP; 42 units permitted in Todd 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 $4k of value loss. Plan a longer hold.
• Todd County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $83k; list at $150k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.06%
• DSCR: 1.67
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $9,211
• Equity at exit: $22,365

10-year hold

• IRR: 15.0%
• Equity multiple: 2.21×
• Total profit: $51,012
• Equity at exit: $12,969

Cash invested: $42,000 (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 42220

• Home prices YoY: -1.1%
• Active inventory: 56
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $527

Break-even live

Break-even rent $1,133

Max offer price $150,000

Occupancy floor 66%

Sensitivity live

Price	-10% $612	-5% $570	+0% $527	+5% $485	+10% $442
Rent	-10% $385	-5% $456	+0% $527	+5% $598	+10% $669
Rate	-1.0pp $603	-0.5pp $565	base $527	+0.5pp $488	+1.0pp $449

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

Units	Beds	Baths	Est. rent
▸ 2× units	0	1	$1,800
Total (2 units)			$1,800

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $150,000 Active 262 DOM
2. 2026-06-17
   days on market $150,000 Active 261 DOM
3. 2026-06-16
   days on market $150,000 Active 260 DOM
4. 2026-06-15
   days on market $150,000 Active 259 DOM
5. 2026-06-14
   days on market $150,000 Active 257 DOM
6. 2026-06-13
   days on market $150,000 Active 256 DOM
7. 2026-06-10
   days on market $150,000 Active 254 DOM
8. 2026-06-09
   days on market $150,000 Active 253 DOM
9. 2026-06-08
   days on market $150,000 Active 252 DOM
10. 2026-06-07
    days on market $150,000 Active 251 DOM
11. 2026-06-02
    days on market $150,000 Active 246 DOM
12. 2026-06-01
    days on market $150,000 Active 245 DOM
13. 2026-05-31
    days on market $150,000 Active 244 DOM
14. 2026-05-30
    days on market $150,000 Active 243 DOM
15. 2025-09-29
    listed $150,000 Active 246-char remark

    Show marketing remark (246 chars)

    -103 and 105 South Main Street Elkton, Ky 42220 -Two separate office spaces being sold as one. -Approximately 1600 square feet -Both sides have bathrooms, one has kitchen -Separate HVAC -Has potential for a drive-up window if wanted -270-604-2070

16. 2003-04-01
    soldstatus $83,000

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $1,290 · $108/mo
• Expected delta: +$742/yr (+$62/mo · 135.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$8,402
• − Property taxes: −$548
• − Insurance: −$750
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,364
• Taxable income: $4,080
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $5,347/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: Todd County
• NCES district ID: 2105550
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 39% ▼ -15.00%
• Median HH income: $39,989
• Composite: 26.01/100
• National rank: #7315
• State rank: #99 of 165 in KY

Livability — Elkton

• Score: 59/100
• State rank: #419
• US rank: #20187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkton, KY
• Population (ZIP): 5,795

Population outlook (Todd County) Hauer SSP2

• Today (2025): 12,073 people
• By 2030: 11,770 · -2.5%
• By 2040: 11,082 · -8.2%
• By 2050: 10,250 · -15.1%
• By 2075: 8,037 · -33.4%
• By 2100: 5,654 · -53.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Iranian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 93% English-only · German/W. Germanic 4% Spanish 3%

Political lean MEDSL · Todd

• 2024 margin: Solid R (+57.9) · D 20.6% · R 78.4% · Other 1.0%
• 2008→2024 swing: -21.6pp toward R · 2008: -36.3pp · 2024: -57.9pp
• All cycles: 2024: R+57.9 2020: R+53.3 2016: R+53.9 2012: R+39.1 2008: R+36.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.23%
• Current HPI: 291.83
• Rent YoY: —
• Metro: —
• 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

+80.7% since first listed

2 events — show timeline

• 2025-09-29 Listed $150,000 ForSaleByOwner.com
• 2003-04-01 Sold (Public Records) $83,000 Public Records

Property tax history

+1.1%/yr

Latest (2014): $548 · +2.3% YoY. Source: county tax records.