36 and 38 Mullins St · Livingston, KY 40445

$27,900

2 bd · 1.0 ba · 1,040 sqft · SingleFamily · 90 Days on market

Poor condition 6,534 sqft lot $27/sqft · 61% below area ↓ 7% 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
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +1.7/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

Investor special at 36 & 38 Mullins Street in Livingston, Kentucky. This property, sitting just off US 25, South Wilderness Road, offers approximately 1,040 square feet of potential and is ready for a full renovation. It situated in the city limits of Livingston, with quick access to Interstate 75 in Mt. Vernon and London. With a spacious, open interior, attractive design elements, two bedroom areas, one bathroom area, and two cellars for added storage, there is a solid foundation here for the right buyer to reimagine and improve. Vacant for several years, the home will require substantial updates and is best suited for investors, flippers, or cash buyers looking for their next project. Detailed listing photos provide important insight into the condition and renovation needs. The old Livingston jail building conveys with no assigned value due to disrepair. Property is sold per deed, and buyers should verify square footage, acreage, and all other property details independently.

Key facts

• Full renovation
• 6,534 sq ft lot
• Listed 89 days

Tags

• FULL RENOVATION
• QUICK ACCESS TO INTERSTATE 75
• SPACIOUS OPEN INTERIOR
• TWO CELLARS FOR ADDED STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $28k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($933 rent vs $28k).
• Recommended offer: $26k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#346 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute 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: 10 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $193 of loan paydown is wiped out by about $837 of value loss. Plan a longer hold.
• Rockcastle County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Recommended offer $26,226 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 3.34% ✓
• Cap rate: 29.70%
• Cash-on-cash: 83.61%
• DSCR: 4.72
• GRM: 2.5

CMA / ARV

• ARV (median comp): $70,638
• List price: $27,900
• Delta: -60.50%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 Red Hill Rd	0.74mi	3/2.0 (+1)	1,008 (-3%)	13mo	$70,000	$69	41

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: 84.0%
• Equity multiple: 4.86×
• Total profit: $30,159
• Equity at exit: $4,160

10-year hold

• IRR: 87.2%
• Equity multiple: 10.08×
• Total profit: $70,958
• Equity at exit: $2,412

Cash invested: $7,812 (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 40445

• Home prices YoY: -4.8%
• Active inventory: 10
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $933 medium
• Mortgage (P&I): −$146
• Tax est. 1.5%: −$35 /mo · $418/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $544

Break-even live

Break-even rent $244

Max offer price $27,900

Occupancy floor 37%

Sensitivity live

Price	-10% $564	-5% $554	+0% $544	+5% $535	+10% $525
Rent	-10% $471	-5% $507	+0% $544	+5% $581	+10% $618
Rate	-1.0pp $558	-0.5pp $551	base $544	+0.5pp $537	+1.0pp $530

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: $6,975
• Closing costs: $837
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $27,900 Active 90 DOM
2. 2026-06-19
   days on market $27,900 Active 88 DOM
3. 2026-06-18
   days on market $27,900 Active 87 DOM
4. 2026-06-17
   days on market $27,900 Active 86 DOM
5. 2026-06-16
   days on market $27,900 Active 85 DOM
6. 2026-06-15
   days on market $27,900 Active 84 DOM
7. 2026-06-14
   days on market $27,900 Active 82 DOM
8. 2026-06-13
   days on market $27,900 Active 81 DOM
9. 2026-06-10
   days on market $27,900 Active 79 DOM
10. 2026-06-09
    days on market $27,900 Active 78 DOM
11. 2026-06-08
    days on market $27,900 Active 77 DOM
12. 2026-06-07
    days on market $27,900 Active 76 DOM
13. 2026-06-05
    days on market $27,900 Active 73 DOM
14. 2026-06-03
    days on market $27,900 Active 72 DOM
15. 2026-06-02
    days on market $27,900 Active 71 DOM
16. 2026-06-01
    days on market $27,900 Active 70 DOM
17. 2026-05-31
    days on market $27,900 Active 69 DOM
18. 2026-05-30
    days on market $27,900 Active 68 DOM
19. 2026-04-12
    price $27,900 995-char remark

    Show marketing remark (995 chars)

    Investor special at 36 & 38 Mullins Street in Livingston, Kentucky. This property, sitting just off US 25, South Wilderness Road, offers approximately 1,040 square feet of potential and is ready for a full renovation. It situated in the city limits of Livingston, with quick access to Interstate 75 in Mt. Vernon and London. With a spacious, open interior, attractive design elements, two bedroom areas, one bathroom area, and two cellars for added storage, there is a solid foundation here for the right buyer to reimagine and improve. Vacant for several years, the home will require substantial updates and is best suited for investors, flippers, or cash buyers looking for their next project. Detailed listing photos provide important insight into the condition and renovation needs. The old Livingston jail building conveys with no assigned value due to disrepair. Property is sold per deed, and buyers should verify square footage, acreage, and all other property details independently.

20. 2026-03-21
    listed $29,900 Active 995-char remark

    Show marketing remark (995 chars)

    Investor special at 36 & 38 Mullins Street in Livingston, Kentucky. This property, sitting just off US 25, South Wilderness Road, offers approximately 1,040 square feet of potential and is ready for a full renovation. It situated in the city limits of Livingston, with quick access to Interstate 75 in Mt. Vernon and London. With a spacious, open interior, attractive design elements, two bedroom areas, one bathroom area, and two cellars for added storage, there is a solid foundation here for the right buyer to reimagine and improve. Vacant for several years, the home will require substantial updates and is best suited for investors, flippers, or cash buyers looking for their next project. Detailed listing photos provide important insight into the condition and renovation needs. The old Livingston jail building conveys with no assigned value due to disrepair. Property is sold per deed, and buyers should verify square footage, acreage, and all other property details independently.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,196
• − Mortgage interest: −$1,563
• − Property taxes: −$418
• − Insurance: −$140
• − Repairs & maintenance: −$896
• − Management: −$896
• − Depreciation: −$812
• Taxable income: $6,473
• Est. tax owed @ 24.0%: −$1,553
• After-tax cash flow: $4,978/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including structural repairs, kitchen and bathroom updates, and exterior improvements. Significant value can be added through a comprehensive renovation.

Repairs flagged

• Major Exposed framing — Structural integrity compromised
• Major Missing cabinets — Kitchen functionality impaired
• Major Weathered shingles — Roof leakage risk
• Major Weathered siding — Structural integrity compromised
• Major Exposed subfloor — Flooring functionality impaired
• Major Exposed framing — Structural integrity compromised

Value-add opportunities

• Both Kitchen renovation — Modern kitchen increases both resale and rental value
• Both Bathroom renovation — Modern bathroom increases both resale and rental value
• Both Roof replacement — New roof reduces maintenance and increases both resale and rental value
• Both Exterior siding and paint — New siding and paint improves curb appeal and increases both resale and rental value
• Both Flooring replacement — New flooring improves functionality and increases both resale and rental value
• Both Interior wall repairs and painting — New walls and paint improve functionality and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed framing · Structural integrity compromised	Major	$15,000–50,000
Missing cabinets · Kitchen functionality impaired	Major	$15,000–50,000
Weathered shingles · Roof leakage risk	Major	$15,000–50,000
Weathered siding · Structural integrity compromised	Major	$15,000–50,000
Exposed subfloor · Flooring functionality impaired	Major	$15,000–50,000
Exposed framing · Structural integrity compromised	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Kitchen renovation — Modern kitchen increases both resale and rental value ↑
• Both Bathroom renovation — Modern bathroom increases both resale and rental value ↑
• Both Roof replacement — New roof reduces maintenance and increases both resale and rental value ↑
• Both Exterior siding and paint — New siding and paint improves curb appeal and increases both resale and rental value ↑
• Both Flooring replacement — New flooring improves functionality and increases both resale and rental value ↑
• Both Interior wall repairs and painting — New walls and paint improve functionality and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Livingston

• Score: 62/100
• State rank: #346
• US rank: #16500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livingston, KY
• Population (ZIP): 755

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Italian 9% Slovak 4% Lithuanian 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: ▼ -6.66%
• Current HPI: 131.5023
• 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

-6.7% since first listed

2 events — show timeline

• 2026-04-12 Price Changed $27,900 ImagineMLS
• 2026-03-21 Listed $29,900 ImagineMLS