1624 East 19th St · Owensboro, KY 42303

$54,900

1 bd · 1.0 ba · 630 sqft · SingleFamily public records · 1 Days on market

Built 1931 7,000 sqft lot Est $61k · 10% under

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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
• ARV discount +12.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks

Long term tenant still in this home and would like to stay. Subject to tenants rights.

Key facts

• 7,000 sq ft lot
• Built 1931

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $55k).
• Cap rate 15.2% 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.
• Zoned schools: Estes Elementary School (math 20% / reading 27%, grade F, #515 of 676 statewide, top 77%, 444 students, 85% FRL); Owensboro Middle School (math 25% / reading 34%, grade F, #151 of 217 statewide, top 71%, 807 students, 74% FRL); Owensboro High School (math 30% / reading 40%, grade F, #74 of 254 statewide, top 29%, 1,334 students, 58% FRL).
• Market conditions: 360 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).
• This rent is only 17% 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 $380 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $54,900

Questions for the listing agent

1. Built in 1931 — 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 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: 1.68% ✓
• Cap rate: 15.15%
• Cash-on-cash: 31.64%
• DSCR: 2.41
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $61,110
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1808 E 15th St	0.33mi	2/1.0 (+1)	672 (+7%)	7mo	$101,000	$150	63
1611 Norris Ave	0.29mi	1/1.0	576 (-9%)	22mo	$75,000	$130	53
1027 Jackson St	0.62mi	2/1.0 (+1)	672 (+7%)	4mo	$65,000	$97	52
1681 Glendale Ave	0.64mi	2/1.0 (+1)	720 (+14%)	0mo	$40,000	$56	41
1681 Glendale Ave	0.64mi	2/1.0 (+1)	720 (+14%)	6mo	$30,000	$42	36
1649 Parkdale Dr	0.56mi	2/1.0 (+1)	720 (+14%)	17mo	$38,000	$53	31

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: 26.5%
• Equity multiple: 2.10×
• Total profit: $16,900
• Equity at exit: $8,186

10-year hold

• IRR: 34.1%
• Equity multiple: 4.11×
• Total profit: $47,878
• Equity at exit: $4,747

Cash invested: $15,372 (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: 5.0×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$14 /mo · $162/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $405

Break-even live

Break-even rent $410

Max offer price $54,900

Occupancy floor 51%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3242 Old Hartford Rd Unit 10 Owensboro, KY	1.0	1.0	600	$865	$1.44	43d	1	0.94mi
3242 Old Hartford Rd Unit 2 Owensboro, KY	1.0	1.0	600	$700	$1.17	43d	1	0.94mi

Listing history 3 events

1. 2025-06-24
   soldstatus $190,000
2. 2025-04-16
   status Pending
3. 2025-04-16
   listed $54,900 Active

ⓘ 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: $162 · $14/mo
• Projected year-2 tax: $472 · $39/mo
• Expected delta: +$310/yr (+$26/mo · 191.4%)

ⓘ 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 ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,083
• − Mortgage interest: −$3,075
• − Property taxes: −$162
• − Insurance: −$274
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$1,597
• Taxable income: $4,201
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $3,856/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

+246.1% since first listed

3 events — show timeline

• 2025-06-24 Sold (Public Records) $190,000 Public Records
• 2025-04-16 Pending — GORAMLS
• 2025-04-16 Listed $54,900 GORAMLS

Property tax history

-9.0%/yr

Latest (2025): $162 · +25.2% YoY. Source: county tax records.