218 Baldwin Ave · Princeton, KY 42445

$29,900

3 bd · 1.0 ba · 1,788 sqft · SingleFamily public records · 117 Days on market

0.31 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located at 218 Baldwin Avenue in Princeton, Kentucky, this spacious 3-bedroom, 1-bath home offers 1,788 square feet of potential and sits on a generous 0.309-acre lot. This fixer-upper is the perfect opportunity for investors or savvy buyers looking to add value through renovation. Whether you're looking for your next flip, rental addition, or long-term investment project, this property is ready for transformation. Bring your vision and contractor, this rehab opportunity is priced for potential. Sold as-is.

Key facts

• 0.31 acre lot
• Listed 116 days

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single building (1,788 total area)
• Construction: Block foundation; Aluminum siding; Vinyl siding; Composition/shingle roof
• Exterior features: Wood fencing; Public water; Not waterfront; No notable view

Interior

• Bedrooms: 2 total rooms
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Space heater; Window unit(s)
• Interior features: Carpet and wood flooring; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.0% vs local median 6.2% in Princeton — 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 76/100 on livability (#88 in KY, #3,490 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment D+, commute F.
• Caldwell County (rural): math 28% / reading 39% proficiency, ranked #78 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caldwell County Elementary School (math 30% / reading 36%, grade F, #338 of 676 statewide, top 50%, 403 students, 56% FRL); Caldwell County Middle School (math 25% / reading 42%, grade F, #105 of 217 statewide, top 51%, 421 students, 55% FRL); Caldwell County High School (math 32% / reading 37%, grade F, #76 of 254 statewide, top 34%, 544 students, 43% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 58 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Caldwell County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 4.31% ✓
• Cap rate: 40.02%
• Cash-on-cash: 120.45%
• DSCR: 6.36
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $182,376
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 W Main St	0.23mi	3/1.0	1,736 (-3%)	1mo	$105,000	$60	84
912 W Main St	0.26mi	3/2.0	1,786 (-0%)	5mo	$225,000	$126	80
101 Winchester Ave	0.42mi	3/2.0	1,645 (-8%)	12mo	$200,000	$122	53
608 Downs St	0.56mi	4/2.0 (+1)	1,836 (+3%)	12mo	$180,000	$98	51
718 W Main St	0.36mi	2/2.0 (-1)	1,888 (+6%)	23mo	$190,000	$101	46
307 Maple St	0.63mi	3/1.5	1,539 (-14%)	1mo	$155,000	$101	44
325 S Seminary St	0.68mi	3/2.5	1,687 (-6%)	15mo	$176,600	$105	41
824 W Main St	0.28mi	4/2.0 (+1)	2,016 (+13%)	22mo	$205,000	$102	38
207 N Seminary St	0.67mi	2/2.0 (-1)	1,540 (-14%)	20mo	$215,000	$140	20

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: —
• Equity multiple: 6.81×
• Total profit: $48,676
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 14.30×
• Total profit: $111,308
• Equity at exit: $2,585

Cash invested: $8,372 (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 42445

• Home prices YoY: -7.9%
• Active inventory: 58
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$8 /mo · $97/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $840

Break-even live

Break-even rent $225

Max offer price $29,900

Occupancy floor 30%

Sensitivity live

Price	-10% $857	-5% $849	+0% $840	+5% $832	+10% $823
Rent	-10% $739	-5% $789	+0% $840	+5% $891	+10% $942
Rate	-1.0pp $855	-0.5pp $848	base $840	+0.5pp $833	+1.0pp $825

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-15
   days on market $29,900 Active 117 DOM
2. 2026-06-13
   days on market $29,900 Active 115 DOM
3. 2026-06-12
   days on market $29,900 Active 114 DOM
4. 2026-06-09
   days on market $29,900 Active 111 DOM
5. 2026-06-08
   days on market $29,900 Active 110 DOM
6. 2026-06-07
   days on market $29,900 Active 109 DOM
7. 2026-06-07
   days on market $29,900 Active 108 DOM
8. 2026-06-04
   days on market $29,900 Active 105 DOM
9. 2026-06-02
   days on market $29,900 Active 104 DOM
10. 2026-06-01
    days on market $29,900 Active 103 DOM
11. 2026-05-31
    days on market $29,900 Active 102 DOM
12. 2026-05-31
    days on market $29,900 Active 101 DOM
13. 2026-04-28
    price $29,900
14. 2026-04-18
    price $37,900
15. 2026-04-05
    price $38,900
16. 2026-03-27
    price $39,900
17. 2026-03-21
    price $42,900
18. 2026-03-13
    price $44,900
19. 2026-02-16
    listed $49,900 Active
20. 1999-10-01
    soldstatus $25,000

ⓘ 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: $97 · $8/mo
• Projected year-2 tax: $257 · $21/mo
• Expected delta: +$160/yr (+$13/mo · 164.0%)

ⓘ 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 ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,459
• − Mortgage interest: −$1,675
• − Property taxes: −$97
• − Insurance: −$150
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$870
• Taxable income: $10,194
• Est. tax owed @ 24.0%: −$2,446
• After-tax cash flow: $7,637/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: Caldwell County
• NCES district ID: 2100840
• Math proficiency: 28% ▼ -29.00%
• Reading proficiency: 39% ▼ -19.00%
• Median HH income: $40,080
• Composite: 28.12/100
• National rank: #6819
• State rank: #78 of 165 in KY

Livability — Princeton

• Score: 76/100
• State rank: #88
• US rank: #3490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, KY
• Population (ZIP): 10,371

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 12,100 people
• By 2030: 11,739 · -3.0%
• By 2040: 11,088 · -8.4%
• By 2050: 10,543 · -12.9%
• By 2075: 9,406 · -22.3%
• By 2100: 8,084 · -33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 3% Serbian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Caldwell

• 2024 margin: Solid R (+58.2) · D 20.3% · R 78.5% · Other 1.2%
• 2008→2024 swing: -31.6pp toward R · 2008: -26.7pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+54.0 2016: R+54.4 2012: R+35.0 2008: R+26.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.07%
• Current HPI: 232.7067
• 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

+19.6% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $29,900 ImagineMLS
• 2026-04-18 Price Changed $37,900 ImagineMLS
• 2026-04-05 Price Changed $38,900 ImagineMLS
• 2026-03-27 Price Changed $39,900 ImagineMLS
• 2026-03-21 Price Changed $42,900 ImagineMLS
• 2026-03-13 Price Changed $44,900 ImagineMLS
• 2026-02-16 Listed $49,900 ImagineMLS
• 1999-10-01 Sold (Public Records) $25,000 Public Records

Property tax history

-5.0%/yr

Latest (2025): $97 · -0.4% YoY. Source: county tax records.