2103 S Virginia St · Hopkinsville, KY 42240

$319,000

5 bd · 3.0 ba · 2,931 sqft · MultiFamily public records · 16 Days on market

Built 1902 0.85 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 +16.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome to 2103 S Virginia St in Hopkinsville, KY, a unique investment opportunity featuring a charming historic multi unit property. Nestled among mature trees, this property offers character, curb appeal, and strong income potential in a convenient location. The home is currently configured as three units, including two one bedroom, one bath units and one two bedroom, one bath unit. Each unit offers functional living space with natural light and a comfortable layout, making it appealing for both short and long term tenants. The property has a proven track record as a profitable short term rental, making it an excellent option for investors seeking immediate income. The historic character

Key facts

• Natural light
• Comfortable layout
• Peaceful setting

Tags

• HISTORIC MULTI UNIT PROPERTY
• STRONG INCOME POTENTIAL
• NATURAL LIGHT
• COMFORTABLE LAYOUT
• PROFITABLE SHORT TERM RENTAL
• PEACEFUL SETTING

Property features AI

Finance

• Other: Zoning: R-1; Total of 4 units; Above-grade living area reported as 2,931 (agent measured)
• Financial info: Owner pays electricity, gas, trash collection and water; Tenant pays: none; Tax annual amount: $902

Exterior

• Parking: No covered parking reported; No parking total reported
• Utilities: Public water; Public sewer; Water available
• Home design: Residential income property (quadruplex); Attached property; Two levels; Shingle roof
• Construction: Wood siding construction; Approximate year built
• Exterior features: Lot approximately 100 x 370; Public water available; Public sewer

Interior

• Flooring: Wood flooring; Tile flooring
• Heating & cooling: Central heating; Central air
• Interior features: Wood and tile flooring; Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $319k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive. Per door: $55/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $259k (18.8% below list).
• Recommended offer: $259k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.3% in Hopkinsville — 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 64/100 on livability (#305 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: crime F, amenities F, commute F.
• Christian County (town): math 30% / reading 34% proficiency, ranked #93 of 165 in KY (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Indian Hills Elementary School (math 39% / reading 38%, grade F, #234 of 676 statewide, top 36%, 582 students, 71% FRL); Christian County Middle School (math 21% / reading 40%, grade F, #143 of 217 statewide, top 67%, 650 students, 69% FRL); Christian County High School (math 20% / reading 36%, grade F, #151 of 254 statewide, top 61%, 1,187 students, 67% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 255 active listings in the ZIP; 193 units permitted in Christian County in 2024 (66 in 5+ unit buildings).
• At $2,589/mo this rent would consume 60% of the median local household income ($52k/yr) (locally 1475% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Christian County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($314k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — 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 $258,900 (18.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-31,642
• Equity at exit: $47,564

10-year hold

• IRR: 3.8%
• Equity multiple: 1.32×
• Total profit: $28,346
• Equity at exit: $27,581

Cash invested: $89,320 (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 42240

• Home prices YoY: -17.5%
• Rents YoY: 6.6%
• Active inventory: 255
• Price-to-rent: 31.5×

Monthly cashflow live

• Estimated rent: $2,589 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $164

Break-even live

Break-even rent $2,381

Max offer price $319,000

Occupancy floor 89%

Sensitivity live

Price	-10% $345	-5% $255	+0% $164	+5% $74	+10% $-16
Rent	-10% $-40	-5% $62	+0% $164	+5% $267	+10% $369
Rate	-1.0pp $325	-0.5pp $245	base $164	+0.5pp $82	+1.0pp $-2

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,690
1× unit	2	1	$900
Total (3 units)			$2,589

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $319,000 Active 16 DOM
2. 2026-06-18
   days on market $319,000 Active 13 DOM
3. 2026-06-17
   days on market $319,000 Active 12 DOM
4. 2026-06-16
   days on market $319,000 Active 11 DOM
5. 2026-06-15
   days on market $319,000 Active 10 DOM
6. 2026-06-14
   days on market $319,000 Active 8 DOM
7. 2026-06-13
   days on market $319,000 Active 7 DOM
8. 2026-06-10
   days on market $319,000 Active 5 DOM
9. 2026-06-09
   days on market $319,000 Active 4 DOM
10. 2026-06-08
    days on market $319,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $319,000 Active 2 DOM

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $2,743 · $229/mo
• Expected delta: +$1,841/yr (+$153/mo · 204.0%)

ⓘ 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 ≥107°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: $31,068
• − Mortgage interest: −$17,869
• − Property taxes: −$902
• − Insurance: −$1,595
• − Repairs & maintenance: −$2,485
• − Management: −$2,485
• − Depreciation: −$9,280
• Taxable loss: −$3,549
• Est. tax savings @ 24.0%: +$852
• After-tax cash flow: $2,824/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: Christian County
• NCES district ID: 2101150
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 34% ▼ -10.00%
• Median HH income: $38,961
• Composite: 26.8/100
• National rank: #7118
• State rank: #93 of 165 in KY

Livability — Hopkinsville

• Score: 64/100
• State rank: #305
• US rank: #14474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hopkinsville, KY
• County: Christian County · 51,080 people
• City population: 41,415
• Metro: Clarksville, TN-KY
• Population (ZIP): 41,415
• Household income: $51,534
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1475.0

Population outlook (Christian County) Hauer SSP2

• Today (2025): 67,861 people
• By 2030: 65,808 · -3.0%
• By 2040: 60,090 · -11.5%
• By 2050: 54,561 · -19.6%
• By 2075: 45,859 · -32.4%
• By 2100: 38,310 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 23% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Christian

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.1% · Other 1.3%
• 2008→2024 swing: -12.4pp toward R · 2008: -21.2pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+28.4 2016: R+31.4 2012: R+23.8 2008: R+21.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.36%
• Current HPI: 233.3958
• Rent YoY: ▲ 6.61%
• Metro: Clarksville, TN-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

1 event — show timeline

• 2026-06-05 Listed $319,000 REALTRACS as Distributed by MLS Grid

Property tax history

-0.5%/yr

Latest (2025): $902 · -4.4% YoY. Source: county tax records.