3313 Allen St · Owensboro, KY 42303

$121,900

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 26 Days on market

Built 1956 $141/sqft · 9% below area Est $136k · 11% under ↓ 4% since listing

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Why this score? — see what drove the D+ 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 +15.5/30.0
• ARV discount +12.3/15.0
• DSCR +4.8/10.0
• Livability +3.6/5.0
• 1% rule +3.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

Key facts

• Great location
• Fenced-in backyard
• Detached garage

Tags

• FENCED-IN BACKYARD
• DETACHED GARAGE
• EXTRA STORAGE HOBBY SPACE
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $50 ($596/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (20.3% below list).
• Recommended offer: $97k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.1% in Owensboro — 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 71/100 on livability (#148 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime D-, amenities F.
• Owensboro Independent (urban): math 27% / reading 36% proficiency, ranked #100 of 165 in KY (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 360 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).
• This rent is only 18% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $843 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($120k) 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.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $97,146 (20.3% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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?
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 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: 0.80% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 10.5

CMA / ARV

• ARV (median comp): $136,410
• List price: $121,900
• Delta: -10.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3615 Longfellow Dr	0.23mi	2/2.0	836 (-3%)	4mo	$162,000	$194	77
3403 St Ann St	0.06mi	2/1.0	768 (-11%)	2mo	$76,000	$99	76
215 Byron Ct	0.26mi	3/1.0 (+1)	897 (+4%)	3mo	$175,000	$195	74
3739 Kipling Dr	0.37mi	3/1.0 (+1)	912 (+6%)	2mo	$170,000	$186	67
2944 Mcalister Pl	0.53mi	3/1.0 (+1)	925 (+7%)	1mo	$162,500	$176	58
3016 Daviess St	0.37mi	2/1.5	984 (+14%)	2mo	$162,000	$165	56
720 Canterbury Rd	0.53mi	2/1.0	986 (+14%)	2mo	$168,000	$170	51
134 Tennyson Dr	0.50mi	3/1.0 (+1)	975 (+13%)	1mo	$169,900	$174	49
3832 Jefferson St	0.48mi	3/1.0 (+1)	975 (+13%)	4mo	$147,000	$151	48
327 Whittier Dr	0.57mi	3/1.0 (+1)	975 (+13%)	1mo	$175,000	$179	46
213 Holmes Dr	0.60mi	3/1.0 (+1)	975 (+13%)	3mo	$169,400	$174	43
312 Holmes Dr	0.64mi	3/1.0 (+1)	975 (+13%)	1mo	$155,000	$159	42

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-16,650
• Equity at exit: $18,176

10-year hold

• IRR: -4.8%
• Equity multiple: 0.69×
• Total profit: $-10,675
• Equity at exit: $10,540

Cash invested: $34,132 (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 42303

• Home prices YoY: -29.1%
• Active inventory: 360
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $971 high
• Mortgage (P&I): −$639
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $50

Break-even live

Break-even rent $909

Max offer price $121,900

Occupancy floor 90%

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: $30,475
• Closing costs: $3,657
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Legion Blvd W Unit C39 Owensboro, KY	2.0	1.0	805	$875	$1.09	43d	1	0.51mi
405 Legion Blvd W Unit E58 Owensboro, KY	1.0	1.0	600	$700	$1.17	43d	1	0.51mi
725 Scherm Rd Unit B8 Owensboro, KY	2.0	1.0	875	$795	$0.91	43d	1	0.71mi
616 Time Dr Unit D Owensboro, KY	1.0	1.0	750	$700	$0.93	43d	1	0.74mi
645 Chuck Gray Ct Owensboro, KY	2.0	1.0	930	$1,000	$1.08	43d	1	0.77mi
630 Chuck Gray Ct Unit 630 04 Owensboro, KY	2.0	1.0	775	$975	$1.26	44d	1	0.83mi
3242 Old Hartford Rd Unit 2 Owensboro, KY	1.0	1.0	600	$700	$1.17	43d	1	1.22mi
3242 Old Hartford Rd Unit 10 Owensboro, KY	1.0	1.0	600	$865	$1.44	43d	1	1.22mi

Listing history 6 events

1. 2026-05-07
   status Pending 247-char remark

   Show marketing remark (247 chars)

   Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

2. 2026-05-07
   historical Active Under Contract 247-char remark

   Show marketing remark (247 chars)

   Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

3. 2026-05-02
   price $121,900 247-char remark

   Show marketing remark (247 chars)

   Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

4. 2026-05-01
   price $121,900 247-char remark

   Show marketing remark (247 chars)

   Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

5. 2026-04-11
   listed $126,900 Active 247-char remark

   Show marketing remark (247 chars)

   Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

6. 2026-04-08
   listed $126,900 Active 247-char remark

   Show marketing remark (247 chars)

   Being sold AS-IS, this cozy 3 bedroom 1 bath house is in a great location, close to everything! Featuring a fantastic, fenced-in backyard and a detached garage with extra storage/hobby space. Come bring your imagination and make this one your own.

ⓘ 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: $333 · $28/mo
• Projected year-2 tax: $1,048 · $87/mo
• Expected delta: +$716/yr (+$60/mo · 215.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $11,658
• − Mortgage interest: −$6,828
• − Property taxes: −$333
• − Insurance: −$610
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$3,546
• Taxable loss: −$1,524
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $962/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: Owensboro Independent
• NCES district ID: 2104590
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $33,020
• Composite: 25.79/100
• National rank: #7364
• State rank: #100 of 165 in KY

Livability — Owensboro

• Score: 71/100
• State rank: #148
• US rank: #7153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owensboro, KY
• County: Daviess County · 87,564 people
• City population: 87,564
• Metro: Owensboro, KY
• Population (ZIP): 42,119
• Household income: $64,773
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 983.0

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 103,810 people
• By 2030: 105,722 · +1.8%
• By 2040: 108,731 · +4.7%
• By 2050: 110,295 · +6.2%
• By 2075: 113,056 · +8.9%
• By 2100: 106,257 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 5% Black 3% Asian 2%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: -10.1pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+27.9 2016: R+32.2 2012: R+21.1 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.55%
• Current HPI: 217.7128
• Rent YoY: —
• Metro: Owensboro, KY
• 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

-3.9% since first listed

6 events — show timeline

• 2026-05-07 Pending — GORAMLS
• 2026-05-07 Contingent — RASKMLS
• 2026-05-02 Price Changed $121,900 RASKMLS
• 2026-05-01 Price Changed $121,900 GORAMLS
• 2026-04-11 Listed $126,900 GORAMLS
• 2026-04-08 Listed $126,900 RASKMLS

Property tax history

-7.9%/yr

Latest (2025): $333 · +23.6% YoY. Source: county tax records.