101 N Main Cross St · Louisa, KY 41230

$209,000

6 bd · 3.0 ba · 0 sqft · MultiFamily public records · 6 Days on market

Built 1940 5,175 sqft lot Est $190k · 10% over ↓ 9% since listing

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Why this score? — see what drove the F 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).

• Appreciation +8.6/10.0
• Cash flow +5.1/30.0
• Livability +3.1/5.0
• ARV discount +3.0/15.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Multi-family units

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

Listing remarks

Prime downtown Louisa mixed-use opportunity with endless potential! The first level offers spacious storage/warehouse space ideal for inventory, retail expansion, workshop use, or future business possibilities. Upstairs features 3 residential apartments plus an additional large storage area, creating multiple income-producing opportunities under one roof. Located in the heart of downtown with excellent visibility and access, this property is perfect for investors, entrepreneurs, or anyone looking to grow a business while generating rental income. So much potential for redevelopment, expansion, or new ventures!

Key facts

• Large storage area
• Excellent visibility
• Spacious storage

Tags

• MIXED-USE OPPORTUNITY
• SPACIOUS STORAGE
• LARGE STORAGE AREA
• INCOME-PRODUCING OPPORTUNITIES
• EXCELLENT VISIBILITY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story multi-family residential income property; Mixed zoning
• Construction: Block, brick, metal siding, and wood siding construction
• Exterior features: Shingle roof

Interior

• Kitchen: Cooktop; Refrigerator
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Refrigerator; Cooktop

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $209k.

Deal economics

• At list price, monthly cash flow is $-485 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (41.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (52.7% below list).
• Recommended offer: $99k (52.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#381 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, employment F.
• Lawrence County (town): math 23% / reading 42% proficiency, ranked #95 of 165 in KY (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Louisa East Elementary School (math 24% / reading 44%, grade F, #329 of 676 statewide, top 49%, 491 students, 62% FRL); Louisa Middle School (math 22% / reading 43%, grade F, #116 of 217 statewide, top 55%, 457 students, 67% FRL); Lawrence County High School (math 32% / reading 47%, grade F, #40 of 254 statewide, top 19%, 738 students, 63% FRL).
• Market conditions: 64 active listings in the ZIP.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (7.2% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,772 (52.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 0.47% ✗
• Cap rate: 3.51%
• Cash-on-cash: -9.95%
• DSCR: 0.56
• GRM: 17.6

CMA / ARV

• ARV (median comp): $190,000
• List price: $209,000
• Delta: 10.00%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 N Main Cross St	0.00mi	6/3.0	8,148	1mo	$190,000	$23	87

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

Projected returns pro-forma

7.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.75×
• Total profit: $44,110
• Equity at exit: $147,100

10-year hold

• IRR: 11.4%
• Equity multiple: 3.58×
• Total profit: $150,951
• Equity at exit: $281,503

Cash invested: $58,520 (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 41230

• Home prices YoY: 4.2%
• Active inventory: 64
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $988 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$82 /mo · $990/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $-485

Break-even live

Break-even rent $1,602

Max offer price $123,269

Occupancy floor —

Sensitivity live

Price	-10% $-367	-5% $-426	+0% $-485	+5% $-544	+10% $-604
Rent	-10% $-563	-5% $-524	+0% $-485	+5% $-446	+10% $-407
Rate	-1.0pp $-380	-0.5pp $-432	base $-485	+0.5pp $-539	+1.0pp $-595

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-13
   status Pending 617-char remark
2. 2026-05-07
   listed $209,000 Active 617-char remark

ⓘ 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: $990 · $82/mo
• Projected year-2 tax: $1,797 · $150/mo
• Expected delta: +$807/yr (+$67/mo · 81.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,853
• − Mortgage interest: −$11,707
• − Property taxes: −$990
• − Insurance: −$1,045
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$6,080
• Taxable loss: −$9,866
• Est. tax savings @ 24.0%: +$2,368
• After-tax cash flow: $-3,456/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: Lawrence County
• NCES district ID: 2103240
• Math proficiency: 23% ▼ -17.00%
• Reading proficiency: 42% ▼ -18.00%
• Median HH income: $32,668
• Composite: 26.55/100
• National rank: #7189
• State rank: #95 of 165 in KY

Livability — Louisa

• Score: 61/100
• State rank: #381
• US rank: #18153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisa, KY
• Population (ZIP): 12,399

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 15,462 people
• By 2030: 15,038 · -2.7%
• By 2040: 14,142 · -8.5%
• By 2050: 13,292 · -14.0%
• By 2075: 11,353 · -26.6%
• By 2100: 9,417 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 1%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Chinese 2%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+67.2) · D 15.9% · R 83.1%
• 2008→2024 swing: -41.3pp toward R · 2008: -26.0pp · 2024: -67.2pp
• All cycles: 2024: R+67.2 2020: R+63.2 2016: R+62.5 2012: R+44.3 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.17%
• Current HPI: 177.9918
• 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

-9.1% since first listed

3 events — show timeline

• 2026-05-28 Sold (MLS) $190,000 EKAR
• 2026-05-13 Pending — EKAR
• 2026-05-07 Listed $209,000 EKAR

Property tax history

+1.3%/yr

Latest (2017): $990 · +8.7% YoY. Source: county tax records.