114 Spruce St · Murray, KY 42071

$209,999

4 bd · 2.0 ba · 1,805 sqft · MultiFamily public records · 16 Days on market

Built 1900 0.46 ac lot

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Why this score? — see what drove the C+ 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.1/5.0
• 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

The cutest house in Murray! Get it first! This Beauty is a Pure Gem Gorgeously Remodeled Top To Bottom and Priced to Sell. Brand New Roof, Spacious Cedar Front Porch, Distinctive Cedar Window Trim, New Floors Throughout, Tiled Jetted Tub For That Spa Treatment At Home! You’ll Think This Is New Construction. All New Windows, Electrical Wiring, Plumbing, And Sheetrock. Entirely Freshly Painted, New Cabinets, New Vanities, New Dimmable Lighting, New Interior And Exterior Doors. Huge Tree Lined Backyard To Play In With Natural Privacy. Two Rooms Have Been Combined To Create New Expansive Master. 2nd Master Upstairs. Large Mudroom/laundry. You’ll Think You’re In A Newly Constru

Key facts

• All new windows
• Tiled jetted tub
• Brand new roof

Tags

• BRAND NEW ROOF
• SPACIOUS CEDAR FRONT PORCH
• DISTINCTIVE CEDAR WINDOW TRIM
• TILED JETTED TUB
• ALL NEW WINDOWS
• NEW CABINETS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Frame construction
• Exterior features: Approximately 0.46-acre lot; No subdivision

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.6% in Murray — 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 (#380 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Murray Independent (town): math 58% / reading 63% proficiency, ranked #5 of 165 in KY (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.2%/yr); 256 active listings in the ZIP; 81 units permitted in Calloway County in 2024 (66 in 5+ unit buildings).
• At $2,372/mo this rent would consume 57% of the median local household income ($50k/yr) (locally 1046% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Calloway County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $18k; list at $210k implies a 1035% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,849 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.13% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.63%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.18% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.06×
• Total profit: $3,319
• Equity at exit: $31,312

10-year hold

• IRR: 14.8%
• Equity multiple: 2.43×
• Total profit: $84,199
• Equity at exit: $18,157

Cash invested: $58,800 (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 42071

• Home prices YoY: -8.5%
• Rents YoY: 7.2%
• Active inventory: 256
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,372 medium
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $423

Break-even live

Break-even rent $1,837

Max offer price $209,999

Occupancy floor 77%

Sensitivity live

Price	-10% $568	-5% $495	+0% $423	+5% $350	+10% $277
Rent	-10% $235	-5% $329	+0% $423	+5% $516	+10% $610
Rate	-1.0pp $528	-0.5pp $476	base $423	+0.5pp $368	+1.0pp $313

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,372
Total (2 units)			$2,372

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $209,999 Active 16 DOM
2. 2026-06-18
   days on market $209,999 Active 15 DOM
3. 2026-06-17
   days on market $209,999 Active 14 DOM
4. 2026-06-17
   price $209,999 Active 13 DOM
5. 2026-06-16
   days on market $216,574 Active 13 DOM
6. 2026-06-15
   days on market $216,574 Active 12 DOM
7. 2026-06-14
   days on market $216,574 Active 10 DOM
8. 2026-06-12
   days on market $216,574 Active 9 DOM
9. 2026-06-09
   days on market $216,574 Active 6 DOM
10. 2026-06-08
    days on market $216,574 Active 5 DOM
11. 2026-06-07
    days on market $216,574 Active 4 DOM
12. 2026-06-05
    remarks 681-char remark
13. 2026-06-05
    listed $216,574 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $28,464
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$6,109
• Taxable income: $1,838
• Est. tax owed @ 24.0%: −$441
• After-tax cash flow: $4,630/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: Murray Independent
• NCES district ID: 2104380
• Math proficiency: 58% ▼ -15.00%
• Reading proficiency: 63% ▼ -14.00%
• Median HH income: $37,625
• Composite: 50.29/100
• National rank: #1882
• State rank: #5 of 165 in KY

Livability — Murray

• Score: 61/100
• State rank: #380
• US rank: #18091

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Murray, KY
• County: Calloway County · 30,981 people
• City population: 30,981
• Metro: Murray, KY
• Population (ZIP): 30,981
• Household income: $50,198
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1046.0

Population outlook (Calloway County) Hauer SSP2

• Today (2025): 41,071 people
• By 2030: 42,608 · +3.7%
• By 2040: 45,435 · +10.6%
• By 2050: 48,501 · +18.1%
• By 2075: 56,481 · +37.5%
• By 2100: 63,271 · +54.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 4% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Calloway

• 2024 margin: Solid R (+38.0) · D 30.2% · R 68.1% · Other 1.7%
• 2008→2024 swing: -19.6pp toward R · 2008: -18.4pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+31.8 2016: R+35.0 2012: R+27.4 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.43%
• Current HPI: 274.5366
• Rent YoY: ▲ 7.18%
• Metro: Murray, 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

+1070.7% since first listed

10 events — show timeline

• 2026-06-03 Listed $216,574 WKRMLS
• 2026-02-10 Price Changed $238,945 WKRMLS
• 2026-02-03 Price Changed $239,879 WKRMLS
• 2026-02-02 Price Changed $246,999 WKRMLS
• 2026-01-26 Price Changed $247,999 WKRMLS
• 2026-01-20 Price Changed $248,999 WKRMLS
• 2026-01-12 Price Changed $249,999 WKRMLS
• 2026-01-03 Price Changed $252,252 WKRMLS
• 2025-11-20 Listed $254,318 WKRMLS
• 1994-12-01 Sold (Public Records) $18,500 Public Records

Property tax history

-7.4%/yr

Latest (2025): $219 · +1.5% YoY. Source: county tax records.