355 Laurel St · Smiths Grove, KY 42171

$87,000

2 bd · 1.0 ba · 1,117 sqft · SingleFamily public records · 90 Days on market

Built 1895 1.00 ac lot $78/sqft · 44% below area Est $155k · 44% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into a piece of history with this 1 bedroom, 1 bathroom home built in 1895, offering charm, character, and a unique layout. This home features a living room, kitchen, and den area with a fireplace, creating a warm and inviting space with classic appeal. One standout feature is the very large walk-in closet located off the hallway, providing ample storage space rarely found in homes of this size. The property offers an opportunity for updates and personalization while preserving its historic feel. Appliances do not convey. Located in Smiths Grove, you’ll enjoy small-town living while being just a short drive to Bowling Green, where you’ll find shopping, dining, healthcare, and attractions such as Lost River Cave, the National Corvette Museum, and Western Kentucky University. Nearby towns like Glasgow and Cave City offer additional options for entertainment and everyday conveniences. This property is ideal for those looking for a home with character and the opportunity to make it their own in a convenient location.

Key facts

• Walk-in closet
• 1 acre lot
• Built 1895

Tags

• WALK-IN CLOSET
• SHORT DRIVE TO ATTRACTIONS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.2% in Smiths Grove — 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 (#256 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Warren County (rural): math 30% / reading 43% proficiency, ranked #48 of 165 in KY (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Warren Elementary (math 19% / reading 32%, grade F, #477 of 676 statewide, top 71%, 458 students, 66% FRL); Warren East Middle School (math 23% / reading 40%, grade F, #125 of 217 statewide, top 63%, 487 students, 65% FRL); Warren East High School (math 22% / reading 31%, grade F, #174 of 254 statewide, top 69%, 1,031 students, 60% FRL) — zoned schools average 64% FRL vs 42% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 79 active listings in the ZIP; 2,286 units permitted in Warren County in 2024 (1,410 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — 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 $81,780 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1895 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.30% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.40%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $155,150
• List price: $87,000
• Delta: -43.93%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
395 Lawson St	0.37mi	3/1.0 (+1)	1,050 (-6%)	12mo	$215,000	$205	58
744 Hedge St	0.60mi	3/2.0 (+1)	1,250 (+12%)	9mo	$234,900	$188	35

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $4,540
• Equity at exit: $12,972

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $27,999
• Equity at exit: $7,522

Cash invested: $24,360 (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 42171

• Home prices YoY: -12.6%
• Active inventory: 79
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$456
• Tax est. 1.5%: −$109 /mo · $1,305/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $292

Break-even live

Break-even rent $761

Max offer price $87,000

Occupancy floor 69%

Sensitivity live

Price	-10% $352	-5% $322	+0% $292	+5% $262	+10% $232
Rent	-10% $203	-5% $248	+0% $292	+5% $337	+10% $382
Rate	-1.0pp $336	-0.5pp $314	base $292	+0.5pp $270	+1.0pp $247

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $87,000 Active 90 DOM
2. 2026-06-19
   days on market $87,000 Active 88 DOM
3. 2026-06-18
   days on market $87,000 Active 87 DOM
4. 2026-06-17
   days on market $87,000 Active 86 DOM
5. 2026-06-16
   days on market $87,000 Active 85 DOM
6. 2026-06-15
   days on market $87,000 Active 84 DOM
7. 2026-06-14
   days on market $87,000 Active 82 DOM
8. 2026-06-13
   days on market $87,000 Active 81 DOM
9. 2026-06-10
   days on market $87,000 Active 79 DOM
10. 2026-06-09
    days on market $87,000 Active 78 DOM
11. 2026-06-08
    days on market $87,000 Active 77 DOM
12. 2026-06-07
    days on market $87,000 Active 76 DOM
13. 2026-06-05
    days on market $87,000 Active 73 DOM
14. 2026-06-02
    days on market $87,000 Active 71 DOM
15. 2026-06-01
    days on market $87,000 Active 70 DOM
16. 2026-05-31
    days on market $87,000 Active 69 DOM
17. 2026-05-30
    days on market $87,000 Active 68 DOM
18. 2026-03-23
    listed $87,000 Active 1049-char remark

    Show marketing remark (1049 chars)

    Step into a piece of history with this 1 bedroom, 1 bathroom home built in 1895, offering charm, character, and a unique layout. This home features a living room, kitchen, and den area with a fireplace, creating a warm and inviting space with classic appeal. One standout feature is the very large walk-in closet located off the hallway, providing ample storage space rarely found in homes of this size. The property offers an opportunity for updates and personalization while preserving its historic feel. Appliances do not convey. Located in Smiths Grove, you’ll enjoy small-town living while being just a short drive to Bowling Green, where you’ll find shopping, dining, healthcare, and attractions such as Lost River Cave, the National Corvette Museum, and Western Kentucky University. Nearby towns like Glasgow and Cave City offer additional options for entertainment and everyday conveniences. This property is ideal for those looking for a home with character and the opportunity to make it their own in a convenient location.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,574
• − Mortgage interest: −$4,873
• − Property taxes: −$1,305
• − Insurance: −$435
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$2,531
• Taxable income: $2,258
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $2,966/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: Warren County
• NCES district ID: 2105730
• Math proficiency: 30% ▼ -18.00%
• Reading proficiency: 43% ▼ -16.00%
• Median HH income: $50,092
• Composite: 31.55/100
• National rank: #5958
• State rank: #48 of 165 in KY

Livability — Smiths Grove

• Score: 65/100
• State rank: #256
• US rank: #12802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Smiths Grove, KY
• Population (ZIP): 7,189

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2%
• Common ancestry: Lithuanian 2% Polish 2% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

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: ▼ -44.24%
• Current HPI: 307.0886
• 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

1 event — show timeline

• 2026-03-23 Listed $87,000 REALTRACS as Distributed by MLS Grid

Property tax history

-10.1%/yr

Latest (2025): $116 · +80.7% YoY. Source: county tax records.