235 Railroad St · Island, KY 42350

$59,900

2 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 277 Days on market

Built 1964 $47/sqft · 52% below area

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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
• Appreciation +6.2/10.0
• Schools +3.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

ATTENTION investors or first time buyers. Looking for a place to add your personal TLC, look no further. This 2 BR, 1 BA located in Island KY is a perfect handyman special. With a newer roof and water heater, some of the high ticket items have been addressed. Kitchen and dining floor has also been replaced. At this price it won't last long.

Key facts

• Newer roof
• Water heater
• Built 1964

Tags

• NEWER ROOF
• WATER HEATER
• KITCHEN AND DINING FLOOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/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: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#439 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Mclean County (rural): math 34% / reading 45% proficiency, ranked #34 of 165 in KY (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Livermore Elementary School (math 22% / reading 47%, grade F, #301 of 676 statewide, top 48%, 227 students, 64% FRL); Mclean County Middle School (math 30% / reading 41%, grade F, #94 of 217 statewide, top 44%, 319 students, 53% FRL); Mclean County High School (math 32% / reading 42%, grade F, #58 of 254 statewide, top 27%, 413 students, 48% FRL).
• Market conditions: 2 active listings in the ZIP; 1 units permitted in McLean County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $1k appreciation (2.3% local appreciation)).
• McLean County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $23k; list at $60k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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 F-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: 1.77% ✓
• Cap rate: 15.91%
• Cash-on-cash: 34.33%
• DSCR: 2.53
• GRM: 4.7

CMA / ARV

• ARV (median comp): $126,076
• List price: $59,900
• Delta: -52.49%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
355 2nd St	0.14mi	3/1.0 (+1)	1,377 (+9%)	22mo	$120,500	$88	56

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

Projected returns pro-forma

2.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 3.13×
• Total profit: $35,667
• Equity at exit: $24,707

10-year hold

• IRR: 39.6%
• Equity multiple: 6.18×
• Total profit: $86,795
• Equity at exit: $36,428

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 42350

• Home prices YoY: 1.0%
• Active inventory: 2
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$17 /mo · $200/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $480

Break-even live

Break-even rent $450

Max offer price $59,900

Occupancy floor 50%

Sensitivity live

Price	-10% $514	-5% $497	+0% $480	+5% $463	+10% $446
Rent	-10% $396	-5% $438	+0% $480	+5% $522	+10% $563
Rate	-1.0pp $510	-0.5pp $495	base $480	+0.5pp $464	+1.0pp $449

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 19 events

1. 2026-06-22
   days on market $59,900 Active 277 DOM
2. 2026-06-19
   days on market $59,900 Active 275 DOM
3. 2026-06-18
   days on market $59,900 Active 274 DOM
4. 2026-06-17
   days on market $59,900 Active 273 DOM
5. 2026-06-16
   days on market $59,900 Active 272 DOM
6. 2026-06-15
   days on market $59,900 Active 271 DOM
7. 2026-06-14
   days on market $59,900 Active 269 DOM
8. 2026-06-13
   days on market $59,900 Active 268 DOM
9. 2026-06-10
   days on market $59,900 Active 266 DOM
10. 2026-06-09
    days on market $59,900 Active 265 DOM
11. 2026-06-08
    days on market $59,900 Active 264 DOM
12. 2026-06-07
    days on market $59,900 Active 263 DOM
13. 2026-06-02
    days on market $59,900 Active 258 DOM
14. 2026-06-01
    days on market $59,900 Active 257 DOM
15. 2026-05-31
    days on market $59,900 Active 256 DOM
16. 2026-05-30
    days on market $59,900 Active 255 DOM
17. 2025-09-18
    listed $59,900 Active 342-char remark

    Show marketing remark (342 chars)

    ATTENTION investors or first time buyers. Looking for a place to add your personal TLC, look no further. This 2 BR, 1 BA located in Island KY is a perfect handyman special. With a newer roof and water heater, some of the high ticket items have been addressed. Kitchen and dining floor has also been replaced. At this price it won't last long.

18. 2025-09-16
    listed $59,900 Active 342-char remark

    Show marketing remark (342 chars)

    ATTENTION investors or first time buyers. Looking for a place to add your personal TLC, look no further. This 2 BR, 1 BA located in Island KY is a perfect handyman special. With a newer roof and water heater, some of the high ticket items have been addressed. Kitchen and dining floor has also been replaced. At this price it won't last long.

19. 1997-04-01
    soldstatus $22,800

ⓘ 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: $200 · $17/mo
• Projected year-2 tax: $515 · $43/mo
• Expected delta: +$315/yr (+$26/mo · 157.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,694
• − Mortgage interest: −$3,355
• − Property taxes: −$200
• − Insurance: −$300
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$1,743
• Taxable income: $5,065
• Est. tax owed @ 24.0%: −$1,216
• After-tax cash flow: $4,543/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: Mclean County
• NCES district ID: 2104020
• Math proficiency: 34% ▼ -20.00%
• Reading proficiency: 45% ▼ -16.00%
• Median HH income: $41,890
• Composite: 33.26/100
• National rank: #5512
• State rank: #34 of 165 in KY

Livability — Island

• Score: 57/100
• State rank: #439
• US rank: #21650

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: Island, KY
• Population (ZIP): 1,175

Population outlook (McLean County) Hauer SSP2

• Today (2025): 9,230 people
• By 2030: 8,943 · -3.1%
• By 2040: 8,312 · -9.9%
• By 2050: 7,677 · -16.8%
• By 2075: 6,325 · -31.5%
• By 2100: 5,010 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Scottish 1% Slovak 1%
• Foreign-born: 1% · Canada, Guatemala
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · McLean

• 2024 margin: Solid R (+55.9) · D 21.4% · R 77.2% · Other 1.4%
• 2008→2024 swing: -46.3pp toward R · 2008: -9.6pp · 2024: -55.9pp
• All cycles: 2024: R+55.9 2020: R+53.5 2016: R+52.4 2012: R+30.3 2008: R+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.33%
• Current HPI: 232.678
• 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

+162.7% since first listed

3 events — show timeline

• 2025-09-18 Listed $59,900 MHCBOR
• 2025-09-16 Listed $59,900 GORAMLS
• 1997-04-01 Sold (Public Records) $22,800 Public Records

Property tax history

-0.9%/yr

Latest (2025): $200 · +0.0% YoY. Source: county tax records.