695 W Main St · Mount Vernon, KY 40456

$59,900

4 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 69 Days on market

Built 1918 10,018 sqft lot $43/sqft · 64% below area ↓ 14% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Motivated Seller Willing to Take OFFERS! Investor Special with Charm & Potential! Step into the past with this character-filled home located on West Main Street in the heart of Mt. Vernon. Featuring original hardwood floors, this property is ready for a complete remodel and offers endless potential for the right buyer. This home will require significant TLC, making it an excellent opportunity for investors, flippers, or buyers looking to restore a home to its former beauty. With the right vision, this property could truly shine. Enjoy relaxing on the spacious front porch, surrounded by established perennials and mature trees, creating a welcoming outdoor space with natural charm.

Key facts

• Spacious front porch
• Mature trees
• 0.23 acre lot

Tags

• ORIGINAL HARDWOOD FLOORS
• SPACIOUS FRONT PORCH
• ESTABLISHED PERENNIALS
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 2.8% in Mount Vernon — 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 63/100 on livability (#321 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: housing C-, schools D+, amenities F.
• Rockcastle County (rural): math 23% / reading 40% proficiency, ranked #102 of 165 in KY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Rockcastle County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 1.68% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.35%
• DSCR: 2.35
• GRM: 5.0

CMA / ARV

• ARV (median comp): $166,130
• List price: $59,900
• Delta: -63.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Old Somerset Rd	0.42mi	4/1.0	1,372 (-1%)	16mo	$166,000	$121	64
269 Old Somerset Rd	0.24mi	3/2.0 (-1)	1,500 (+8%)	5mo	$150,000	$100	63
995 West Main St	0.31mi	3/1.0 (-1)	1,344 (-3%)	18mo	$94,000	$70	60
70 Jerri Ln	0.38mi	3/2.0 (-1)	1,290 (-7%)	16mo	$205,000	$159	48
120 W Main St	0.57mi	5/1.0 (+1)	1,540 (+11%)	9mo	$64,000	$42	43
35 E Poplar St	0.50mi	3/2.0 (-1)	1,238 (-11%)	8mo	$175,000	$141	42
30 Ferguson St	0.36mi	3/2.0 (-1)	1,216 (-13%)	14mo	$160,000	$132	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.3%
• Equity multiple: 4.56×
• Total profit: $59,627
• Equity at exit: $53,963

10-year hold

• IRR: 41.2%
• Equity multiple: 10.20×
• Total profit: $154,323
• Equity at exit: $116,373

Cash invested: $16,772 (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 40456

• Home prices YoY: 11.6%
• Active inventory: 64
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,005 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$31 /mo · $366/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $424

Break-even live

Break-even rent $468

Max offer price $59,900

Occupancy floor 53%

Sensitivity live

Price	-10% $458	-5% $441	+0% $424	+5% $407	+10% $390
Rent	-10% $345	-5% $384	+0% $424	+5% $464	+10% $504
Rate	-1.0pp $454	-0.5pp $439	base $424	+0.5pp $409	+1.0pp $393

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $59,900 Active 69 DOM
2. 2026-06-19
   days on market $59,900 Active 67 DOM
3. 2026-06-18
   days on market $59,900 Active 66 DOM
4. 2026-06-17
   days on market $59,900 Active 65 DOM
5. 2026-06-16
   days on market $59,900 Active 64 DOM
6. 2026-06-15
   days on market $59,900 Active 63 DOM
7. 2026-06-14
   days on market $59,900 Active 61 DOM
8. 2026-06-13
   days on market $59,900 Active 60 DOM
9. 2026-06-10
   days on market $59,900 Active 58 DOM
10. 2026-06-09
    days on market $59,900 Active 57 DOM
11. 2026-06-08
    days on market $59,900 Active 56 DOM
12. 2026-06-07
    days on market $59,900 Active 55 DOM
13. 2026-06-05
    days on market $59,900 Active 52 DOM
14. 2026-06-03
    days on market $59,900 Active 51 DOM
15. 2026-06-02
    days on market $59,900 Active 50 DOM
16. 2026-06-01
    days on market $59,900 Active 49 DOM
17. 2026-05-31
    days on market $59,900 Active 48 DOM
18. 2026-05-30
    days on market $59,900 Active 47 DOM
19. 2026-05-11
    price $59,900 692-char remark

    Show marketing remark (692 chars)

    Motivated Seller Willing to Take OFFERS! Investor Special with Charm & Potential! Step into the past with this character-filled home located on West Main Street in the heart of Mt. Vernon. Featuring original hardwood floors, this property is ready for a complete remodel and offers endless potential for the right buyer. This home will require significant TLC, making it an excellent opportunity for investors, flippers, or buyers looking to restore a home to its former beauty. With the right vision, this property could truly shine. Enjoy relaxing on the spacious front porch, surrounded by established perennials and mature trees, creating a welcoming outdoor space with natural charm.

20. 2026-04-07
    listed $70,000 Active 692-char remark

    Show marketing remark (692 chars)

    Motivated Seller Willing to Take OFFERS! Investor Special with Charm & Potential! Step into the past with this character-filled home located on West Main Street in the heart of Mt. Vernon. Featuring original hardwood floors, this property is ready for a complete remodel and offers endless potential for the right buyer. This home will require significant TLC, making it an excellent opportunity for investors, flippers, or buyers looking to restore a home to its former beauty. With the right vision, this property could truly shine. Enjoy relaxing on the spacious front porch, surrounded by established perennials and mature trees, creating a welcoming outdoor space with natural charm.

ⓘ 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: $366 · $31/mo
• Projected year-2 tax: $515 · $43/mo
• Expected delta: +$149/yr (+$12/mo · 40.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 20 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: $12,057
• − Mortgage interest: −$3,355
• − Property taxes: −$366
• − Insurance: −$300
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$1,743
• Taxable income: $4,365
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $4,043/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: Rockcastle County
• NCES district ID: 2105070
• Math proficiency: 23% ▼ -21.00%
• Reading proficiency: 40% ▼ -18.00%
• Median HH income: $30,809
• Composite: 25.55/100
• National rank: #7430
• State rank: #102 of 165 in KY

Livability — Mount Vernon

• Score: 63/100
• State rank: #321
• US rank: #15406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, KY
• Population (ZIP): 8,324

Population outlook (Rockcastle County) Hauer SSP2

• Today (2025): 17,003 people
• By 2030: 16,913 · -0.5%
• By 2040: 16,504 · -2.9%
• By 2050: 15,697 · -7.7%
• By 2075: 13,724 · -19.3%
• By 2100: 11,369 · -33.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Serbian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Rockcastle

• 2024 margin: Solid R (+73.1) · D 12.8% · R 85.9% · Other 1.3%
• 2008→2024 swing: -19.8pp toward R · 2008: -53.4pp · 2024: -73.1pp
• All cycles: 2024: R+73.1 2020: R+69.9 2016: R+70.2 2012: R+63.2 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.63%
• Current HPI: 227.3369
• 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

-14.4% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $59,900 ImagineMLS
• 2026-04-07 Listed $70,000 ImagineMLS

Property tax history

+2.5%/yr

Latest (2025): $366 · -0.6% YoY. Source: county tax records.