306 W Fairview Ave · Eddyville, KY 42038

$245,000

2 bd · 1.5 ba · 1,003 sqft · SingleFamily public records · 84 Days on market

Built 1932 0.50 ac lot $244/sqft · 108% above area Est $172k · 43% over

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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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 BR, 2 BA cottage-like home located in Eddyville! This updated home features a galley style kitchen with stainless steel appliances to stay, living room, dining room with washer/dryer in closet, 2 bedrooms and 1 bathroom with a walk-in handicap accessible tub/ shower unit (NEW in 2023) and beautiful hardwood floors on the main level and upstairs offers much privacy with a primary en-suite. Outside you will love the spacious decks and 27ft above ground pool (New in 2025) for entertaining and a large yard (double lot) with a privacy fence, outbuilding, detached 2-car garage and paved driveway. Great location!! $245,000

Key facts

• Spacious decks
• Large yard
• Galley style kitchen

Tags

• GALLEY STYLE KITCHEN
• STAINLESS STEEL APPLIANCES
• HARDWOOD FLOORS
• SPACIOUS DECKS
• 27FT ABOVE GROUND POOL
• LARGE YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/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 $238k (3.0% below list).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.5% in Eddyville — 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 69/100 on livability (#174 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Lyon County (rural): math 45% / reading 52% proficiency, ranked #13 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lyon County Elementary School (math 42% / reading 57%, grade D, #100 of 676 statewide, top 16%, 457 students, 58% FRL); Lyon County Middle School (math 51% / reading 54%, grade C+, #16 of 217 statewide, top 7%, 243 students, 51% FRL); Lyon County High School (math 32% / reading 37%, grade F, #76 of 254 statewide, top 34%, 298 students, 46% FRL).
• Market conditions: 118 active listings in the ZIP; 3 units permitted in Lyon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lyon County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $188k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (median comp): $171,531
• List price: $245,000
• Delta: 42.83%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Knob St	0.15mi	2/1.0	935 (-7%)	5mo	$125,000	$134	76
304 W Dale Ave	0.17mi	2/1.0	912 (-9%)	19mo	$134,000	$147	59

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-16,544
• Equity at exit: $36,530

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $15,203
• Equity at exit: $21,183

Cash invested: $68,600 (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 42038

• Home prices YoY: -30.7%
• Active inventory: 118
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,376 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$125 /mo · $1,506/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $365

Break-even live

Break-even rent $1,914

Max offer price $245,000

Occupancy floor 80%

Sensitivity live

Price	-10% $503	-5% $434	+0% $365	+5% $295	+10% $226
Rent	-10% $177	-5% $271	+0% $365	+5% $459	+10% $552
Rate	-1.0pp $488	-0.5pp $427	base $365	+0.5pp $301	+1.0pp $237

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-22
   days on market $245,000 Active 84 DOM
2. 2026-06-21
   days on market $245,000 Active 83 DOM
3. 2026-06-21
   days on market $245,000 Active 82 DOM
4. 2026-06-18
   days on market $245,000 Active 80 DOM
5. 2026-06-17
   days on market $245,000 Active 79 DOM
6. 2026-06-16
   days on market $245,000 Active 78 DOM
7. 2026-06-15
   days on market $245,000 Active 77 DOM
8. 2026-06-13
   days on market $245,000 Active 75 DOM
9. 2026-06-12
   days on market $245,000 Active 74 DOM
10. 2026-06-09
    days on market $245,000 Active 71 DOM
11. 2026-06-08
    days on market $245,000 Active 70 DOM
12. 2026-06-07
    days on market $245,000 Active 69 DOM
13. 2026-06-07
    days on market $245,000 Active 68 DOM
14. 2026-06-04
    days on market $245,000 Active 65 DOM
15. 2026-06-02
    days on market $245,000 Active 64 DOM
16. 2026-06-01
    days on market $245,000 Active 63 DOM
17. 2026-05-31
    days on market $245,000 Active 62 DOM
18. 2026-05-31
    days on market $245,000 Active 61 DOM
19. 2026-03-30
    listed $245,000 Active 635-char remark

    Show marketing remark (635 chars)

    Charming 3 BR, 2 BA cottage-like home located in Eddyville! This updated home features a galley style kitchen with stainless steel appliances to stay, living room, dining room with washer/dryer in closet, 2 bedrooms and 1 bathroom with a walk-in handicap accessible tub/ shower unit (NEW in 2023) and beautiful hardwood floors on the main level and upstairs offers much privacy with a primary en-suite. Outside you will love the spacious decks and 27ft above ground pool (New in 2025) for entertaining and a large yard (double lot) with a privacy fence, outbuilding, detached 2-car garage and paved driveway. Great location!! $245,000

20. 2023-02-06
    soldstatus $188,000 Closed
21. 2023-02-06
    soldstatus $188,000
22. 2023-01-11
    status Pending
23. 2022-11-24
    price $192,500
24. 2022-11-09
    listed $199,900 Active
25. 2021-04-09
    soldstatus $111,500
26. 2021-04-07
    soldstatus $111,500
27. 2020-09-10
    listed $115,000
28. 2017-02-28
    listed $74,000

ⓘ 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: $1,506 · $125/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$601/yr (+$50/mo · 39.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $28,514
• − Mortgage interest: −$13,724
• − Property taxes: −$1,506
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,281
• − Management: −$2,281
• − Depreciation: −$7,127
• Taxable income: $369
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $4,288/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: Lyon County
• NCES district ID: 2103690
• Math proficiency: 45% ▼ -15.00%
• Reading proficiency: 52% ▼ -13.00%
• Median HH income: $43,899
• Composite: 40.94/100
• National rank: #3607
• State rank: #13 of 165 in KY

Livability — Eddyville

• Score: 69/100
• State rank: #174
• US rank: #8755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eddyville, KY
• Population (ZIP): 6,045

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 8,330 people
• By 2030: 8,308 · -0.3%
• By 2040: 8,196 · -1.6%
• By 2050: 8,069 · -3.1%
• By 2075: 8,131 · -2.4%
• By 2100: 6,856 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Italian 3% Serbian 2% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+53.4) · D 22.7% · R 76.1% · Other 1.2%
• 2008→2024 swing: -36.8pp toward R · 2008: -16.7pp · 2024: -53.4pp
• All cycles: 2024: R+53.4 2020: R+47.5 2016: R+44.0 2012: R+27.1 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.82%
• Current HPI: 148.5677
• 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

+231.1% since first listed

10 events — show timeline

• 2026-03-30 Listed $245,000 WKRMLS
• 2023-02-06 Sold (Public Records) $188,000 Public Records
• 2023-02-06 Sold (MLS) $188,000 WKRMLS
• 2023-01-11 Pending — WKRMLS
• 2022-11-24 Price Changed $192,500 WKRMLS
• 2022-11-09 Listed $199,900 WKRMLS
• 2021-04-09 Sold (Public Records) $111,500 Public Records
• 2021-04-07 Sold (MLS) $111,500 WKRMLS
• 2020-09-10 Listed $115,000 WKRMLS
• 2017-02-28 Listed $74,000 WKRMLS

Property tax history

+17.6%/yr

Latest (2025): $1,506 · -1.1% YoY. Source: county tax records.