114-116 Rice St · Louisa, KY 41230

$75,000

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 58 Days on market

Built 1942 5,227 sqft lot $85/sqft · 14% below area

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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 +27.7/30.0
• DSCR +9.7/10.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Rare chance to own two homes on one purchase! This unique offering includes two rental properties, perfect for generating multiple streams of income or creating a flexible living arrangement. Whether you're an investor or a buyer thinking outside the box, this setup delivers both opportunity and potential. Being sold as is. Agent owned.

Key facts

• 5,227 sq ft lot
• Built 1942
• Listed 58 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Mixed zoning
• Construction: Wood siding; Shingle roof; Built on lot of approximately 0.12 acres
• Exterior features: Front porch

Interior

• Kitchen: Refrigerator; Cooktop
• Heating & cooling: Baseboard heating; Space heater; Window unit(s) for cooling; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($854 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 4.0% in Louisa — 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 61/100 on livability (#381 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, employment F.
• Lawrence County (town): math 23% / reading 42% proficiency, ranked #95 of 165 in KY (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lawrence County High School (math 32% / reading 47%, grade F, #40 of 254 statewide, top 19%, 738 students, 63% FRL).
• Market conditions: 64 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($519 loan paydown + $5k appreciation (7.2% local appreciation)).
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $75k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.14% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.91%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

• ARV (median comp): $175,773
• List price: $75,000
• Delta: -57.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 East Sycamore St	0.36mi	2/1.0	916 (+4%)	9mo	$50,000	$55	70
206 Powhatan St	0.43mi	2/1.0	1,000 (+13%)	10mo	$19,900	$20	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 2.77×
• Total profit: $37,126
• Equity at exit: $52,787

10-year hold

• IRR: 23.2%
• Equity multiple: 5.77×
• Total profit: $100,264
• Equity at exit: $101,018

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 41230

• Home prices YoY: 4.2%
• Active inventory: 64
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $854 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$24 /mo · $293/yr
• Insurance: −$31
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $160

Break-even live

Break-even rent $652

Max offer price $75,000

Occupancy floor 76%

Sensitivity live

Price	-10% $202	-5% $181	+0% $160	+5% $138	+10% $117
Rent	-10% $92	-5% $126	+0% $160	+5% $193	+10% $227
Rate	-1.0pp $197	-0.5pp $179	base $160	+0.5pp $140	+1.0pp $120

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: —

Listing history 19 events

1. 2026-06-21
   days on market $75,000 Active 58 DOM
2. 2026-06-18
   days on market $75,000 Active 56 DOM
3. 2026-06-17
   days on market $75,000 Active 55 DOM
4. 2026-06-16
   days on market $75,000 Active 54 DOM
5. 2026-06-15
   days on market $75,000 Active 53 DOM
6. 2026-06-13
   days on market $75,000 Active 51 DOM
7. 2026-06-12
   days on market $75,000 Active 50 DOM
8. 2026-06-09
   days on market $75,000 Active 47 DOM
9. 2026-06-08
   days on market $75,000 Active 46 DOM
10. 2026-06-07
    days on market $75,000 Active 45 DOM
11. 2026-06-07
    days on market $75,000 Active 44 DOM
12. 2026-06-04
    days on market $75,000 Active 41 DOM
13. 2026-06-02
    days on market $75,000 Active 40 DOM
14. 2026-06-01
    days on market $75,000 Active 39 DOM
15. 2026-05-31
    days on market $75,000 Active 38 DOM
16. 2026-05-31
    days on market $75,000 Active 37 DOM
17. 2026-04-23
    listed $79,000 Active 338-char remark
18. 2018-04-20
    soldstatus $25,000
19. 1998-04-01
    soldstatus $16,667

ⓘ 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: $293 · $24/mo
• Projected year-2 tax: $645 · $54/mo
• Expected delta: +$352/yr (+$29/mo · 120.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,253
• − Mortgage interest: −$4,201
• − Property taxes: −$293
• − Insurance: −$1,172
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$2,182
• Taxable income: $764
• Est. tax owed @ 24.0%: −$183
• After-tax cash flow: $1,731/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: Lawrence County
• NCES district ID: 2103240
• Math proficiency: 23% ▼ -17.00%
• Reading proficiency: 42% ▼ -18.00%
• Median HH income: $32,668
• Composite: 26.55/100
• National rank: #7189
• State rank: #95 of 165 in KY

Livability — Louisa

• Score: 61/100
• State rank: #381
• US rank: #18153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisa, KY
• Population (ZIP): 12,399

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 15,462 people
• By 2030: 15,038 · -2.7%
• By 2040: 14,142 · -8.5%
• By 2050: 13,292 · -14.0%
• By 2075: 11,353 · -26.6%
• By 2100: 9,417 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 1%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Chinese 2%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+67.2) · D 15.9% · R 83.1%
• 2008→2024 swing: -41.3pp toward R · 2008: -26.0pp · 2024: -67.2pp
• All cycles: 2024: R+67.2 2020: R+63.2 2016: R+62.5 2012: R+44.3 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.17%
• Current HPI: 177.9918
• 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

+350.0% since first listed

4 events — show timeline

• 2026-05-23 Price Changed $75,000 EKAR
• 2026-04-23 Listed $79,000 EKAR
• 2018-04-20 Sold (Public Records) $25,000 Public Records
• 1998-04-01 Sold (Public Records) $16,667 Public Records

Property tax history

+1.8%/yr

Latest (2025): $293 · +2.8% YoY. Source: county tax records.