816 W 13th St · Owensboro, KY 42301

$75,000

2 bd · 2.0 ba · 1,424 sqft · MultiFamily public records · 1 Days on market

Built 1895

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +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 MLS

Non-member listing

Key facts

• Built 1895

Tags

• AS-IS RENOVATION PROJECT
• PARTIALLY GUTTED RENOVATION
• SOME WINDOWS DOORS REPLACED
• ROUGH-IN WORK STARTED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.0% 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: 297 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 5y ago 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 $45k; list at $75k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1895 — 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. 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.
5. 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.
6. 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: 1.47% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.31%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $155,216
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 West 13th St	0.00mi	2/2.0	1,424 (0%)	3mo	$45,000	$32	98
501 Cedar St	0.58mi	2/2.0	1,536 (+8%)	17mo	$168,000	$109	46

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: 12.6%
• Equity multiple: 1.50×
• Total profit: $10,506
• Equity at exit: $11,183

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $38,371
• Equity at exit: $6,485

Cash invested: $21,000 (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 42301

• Home prices YoY: -31.0%
• Active inventory: 297
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,106 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $356

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 63%

Sensitivity live

Price	-10% $407	-5% $381	+0% $356	+5% $330	+10% $304
Rent	-10% $268	-5% $312	+0% $356	+5% $399	+10% $443
Rate	-1.0pp $393	-0.5pp $375	base $356	+0.5pp $336	+1.0pp $316

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1302 Daviess St Owensboro, KY	3.0	1.0	1008	$1,200	$1.19	22d	1	0.54mi
725 Scherm Rd Unit B8 Owensboro, KY	2.0	1.0	875	$795	$0.91	44d	1	1.20mi
1202 Hutch Ln Unit A Owensboro, KY	2.0	1.0	989	$825	$0.83	14d	1	1.21mi

Listing history 20 events

1. 2026-05-13
   status Under Contract
2. 2026-05-12
   listed $75,000 Active
3. 2026-04-13
   soldstatus $45,000
4. 2026-03-31
   soldstatus $45,000 18-char remark

   Show marketing remark (166 chars)

   Duplex that is gutted and ready to finish inside. Addition on one side by the seller who owns Griffith Constrution. Detached 1 car garage. Backs up to Parrish Avenue.

5. 2026-03-31
   soldstatus $45,000 Closed 166-char remark

   Show marketing remark (166 chars)

   Duplex that is gutted and ready to finish inside. Addition on one side by the seller who owns Griffith Constrution. Detached 1 car garage. Backs up to Parrish Avenue.

6. 2026-03-16
   status Pending 166-char remark

   Show marketing remark (166 chars)

   Duplex that is gutted and ready to finish inside. Addition on one side by the seller who owns Griffith Constrution. Detached 1 car garage. Backs up to Parrish Avenue.

7. 2026-03-13
   listed $45,000 18-char remark

   Show marketing remark (18 chars)

   Non-member listing

8. 2026-02-26
   listed $55,000 Active 166-char remark

   Show marketing remark (166 chars)

   Duplex that is gutted and ready to finish inside. Addition on one side by the seller who owns Griffith Constrution. Detached 1 car garage. Backs up to Parrish Avenue.

9. 2025-07-24
   listed $69,999 Active
10. 2024-09-11
    price $69,499
11. 2024-06-05
    price $69,999
12. 2024-03-05
    price $75,999
13. 2023-11-03
    status Active
14. 2023-09-05
    listed $79,999 Active
15. 2023-01-17
    status Active
16. 2022-11-27
    status Active
17. 2022-10-04
    historical
18. 2022-01-10
    listed $79,999
19. 2021-08-03
    listed $79,999 Active
20. 2021-03-21
    listed $60,000

ⓘ 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: $13,273
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$2,182
• Taxable income: $3,266
• Est. tax owed @ 24.0%: −$784
• After-tax cash flow: $3,482/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): 45,445
• Household income: $66,885
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 1228.0

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 (82%)
• Race & ethnicity: White 82% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2%

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: ▼ -106.96%
• Current HPI: 238.2395
• 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

+25.0% since first listed

20 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $75,000 FSBO.com
• 2026-04-13 Sold (Public Records) $45,000 Public Records
• 2026-03-31 Sold (MLS) $45,000 GORAMLS
• 2026-03-31 Sold (MLS) $45,000 HABOR
• 2026-03-16 Pending — GORAMLS
• 2026-03-13 Listed $45,000 HABOR
• 2026-02-26 Listed $55,000 GORAMLS
• 2025-07-24 Listed $69,999 GORAMLS
• 2024-09-11 Price Changed $69,499 GORAMLS
• 2024-06-05 Price Changed $69,999 GORAMLS
• 2024-03-05 Price Changed $75,999 GORAMLS
• 2023-11-03 Relisted — GORAMLS
• 2023-09-05 Listed $79,999 GORAMLS
• 2023-01-17 Relisted — GORAMLS
• 2022-11-27 Relisted — GORAMLS
• 2022-10-04 Delisted — GORAMLS
• 2022-01-10 Listed $79,999 GORAMLS
• 2021-08-03 Listed $79,999 GORAMLS
• 2021-03-21 Listed $60,000 GORAMLS

Property tax history

-9.1%/yr

Latest (2025): $131 · -3.3% YoY. Source: county tax records.