3232 Blackburn Ave · Ashland, KY 41101

$104,900

3 bd · 1.0 ba · 1,215 sqft · SingleFamily public records · 92 Days on market

Built 1925 5,248 sqft lot $86/sqft · 29% below area Est $156k · 33% under

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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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +5.9/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious starter home in the heart of South Ashland. Watch the kids walk to school from your brand new front porch!!! Tall ceilings, beautiful woodwork and French doors. Full basement with additional storage throughout. Recently replaced roof, vinyl windows and water heater. A full bath has been added to the main level, along with a laundry area. Sliding glass door leads out to a great seating area with composite decking. There is alley access in the rear for additional parking and you will still have enough space for the pups to romp around. This is a true two bedroom with an option form a third. Put this one on your list and give your agent a call. Because this home needs a porch swing!!!!!

Key facts

• Alley access
• Laundry area
• Front porch

Tags

• FRONT PORCH
• FULL BASEMENT
• COMPOSITE DECKING
• ALLEY ACCESS
• LAUNDRY AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 5.4% in Ashland — 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 (#304 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Ashland Independent (urban): math 32% / reading 44% proficiency, ranked #49 of 165 in KY (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 100 active listings in the ZIP; 2 units permitted in Boyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Boyd County population projected at -17% 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 $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 3 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 $40k; list at $105k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $95,459 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.40%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

• ARV (median comp): $156,007
• List price: $104,900
• Delta: -32.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3213 Crest Street St	0.15mi	2/2.0 (-1)	1,247 (+3%)	2mo	$132,500	$106	78
2200 Crest St	0.19mi	2/1.0 (-1)	1,167 (-4%)	3mo	$30,501	$26	77
2616 Monroe St	0.26mi	2/2.0 (-1)	1,200 (-1%)	5mo	$81,500	$68	73
3836 Logan St	0.43mi	3/1.0	1,150 (-5%)	3mo	$68,500	$60	69
2204 Broad St	0.61mi	3/1.0	1,226 (+1%)	2mo	$78,144	$64	69
2704 Greenway Road Rd	0.27mi	3/1.0	1,360 (+12%)	6mo	$158,500	$117	63
2309 Sellars St	0.54mi	3/2.0	1,273 (+5%)	5mo	$168,000	$132	59
3842 Cactus Street St	0.44mi	3/2.0	1,342 (+10%)	2mo	$217,000	$162	56
2805 Hampton St	0.62mi	3/1.0	1,344 (+11%)	4mo	$116,000	$86	50
1620 Spring Park	0.61mi	3/2.0	1,344 (+11%)	1mo	$219,000	$163	49
2410 Cleveland St	0.57mi	2/1.0 (-1)	1,093 (-10%)	6mo	$40,000	$37	46
2929 Newman St	0.62mi	2/2.0 (-1)	1,372 (+13%)	6mo	$184,000	$134	35

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: 0.7%
• Equity multiple: 1.02×
• Total profit: $731
• Equity at exit: $15,641

10-year hold

• IRR: 10.3%
• Equity multiple: 1.79×
• Total profit: $23,338
• Equity at exit: $9,070

Cash invested: $29,372 (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 41101

• Active inventory: 100
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$28 /mo · $337/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $279

Break-even live

Break-even rent $787

Max offer price $104,900

Occupancy floor 71%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $104,900 Active 92 DOM
2. 2026-06-17
   days on market $104,900 Active 91 DOM
3. 2026-06-16
   days on market $104,900 Active 90 DOM
4. 2026-06-15
   days on market $104,900 Active 89 DOM
5. 2026-06-13
   days on market $104,900 Active 87 DOM
6. 2026-06-12
   days on market $104,900 Active 86 DOM
7. 2026-06-09
   days on market $104,900 Active 83 DOM
8. 2026-06-09
   price $104,900 Active 82 DOM
9. 2026-06-08
   days on market $109,000 Active 82 DOM
10. 2026-06-07
    days on market $109,000 Active 81 DOM
11. 2026-06-07
    days on market $109,000 Active 80 DOM
12. 2026-06-04
    days on market $109,000 Active 77 DOM
13. 2026-06-02
    days on market $109,000 Active 76 DOM
14. 2026-06-01
    days on market $109,000 Active 75 DOM
15. 2026-05-31
    days on market $109,000 Active 74 DOM
16. 2026-05-31
    days on market $109,000 Active 73 DOM
17. 2026-03-18
    listed $109,000 Active 701-char remark

    Show marketing remark (701 chars)

    Spacious starter home in the heart of South Ashland. Watch the kids walk to school from your brand new front porch!!! Tall ceilings, beautiful woodwork and French doors. Full basement with additional storage throughout. Recently replaced roof, vinyl windows and water heater. A full bath has been added to the main level, along with a laundry area. Sliding glass door leads out to a great seating area with composite decking. There is alley access in the rear for additional parking and you will still have enough space for the pups to romp around. This is a true two bedroom with an option form a third. Put this one on your list and give your agent a call. Because this home needs a porch swing!!!!!

18. 2025-12-09
    status Active
19. 2025-10-30
    historical Active Under Contract
20. 2025-10-27
    price $109,900
21. 2025-10-24
    price $121,400
22. 2025-10-20
    price $121,700
23. 2025-10-15
    price $122,000
24. 2025-10-14
    price $122,200
25. 2025-10-13
    price $122,300
26. 2025-10-08
    price $122,700
27. 2025-09-28
    price $123,200
28. 2025-09-27
    price $123,300
29. 2025-09-24
    price $123,500
30. 2025-09-22
    price $123,700
31. 2025-09-20
    price $123,900
32. 2025-09-18
    price $124,000
33. 2025-09-04
    price $124,500
34. 2025-08-25
    price $129,000
35. 2025-08-21
    listed $129,900 Active
36. 2008-04-24
    soldstatus $40,000
37. 2004-05-25
    soldstatus $51,000

ⓘ 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: $337 · $28/mo
• Projected year-2 tax: $902 · $75/mo
• Expected delta: +$565/yr (+$47/mo · 167.8%)

ⓘ 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 ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,686
• − Mortgage interest: −$5,876
• − Property taxes: −$337
• − Insurance: −$524
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$3,052
• Taxable income: $1,707
• Est. tax owed @ 24.0%: −$410
• After-tax cash flow: $2,939/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: Ashland Independent
• NCES district ID: 2100150
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $36,579
• Composite: 31.51/100
• National rank: #5971
• State rank: #49 of 165 in KY

Livability — Ashland

• Score: 64/100
• State rank: #304
• US rank: #14462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, KY
• City population: 19,331
• Population (ZIP): 19,331

Population outlook (Boyd County) Hauer SSP2

• Today (2025): 46,137 people
• By 2030: 44,585 · -3.4%
• By 2040: 41,442 · -10.2%
• By 2050: 38,313 · -17.0%
• By 2075: 31,077 · -32.6%
• By 2100: 23,432 · -49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Boyd

• 2024 margin: Solid R (+38.5) · D 30.0% · R 68.6% · Other 1.4%
• 2008→2024 swing: -26.2pp toward R · 2008: -12.3pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+33.2 2016: R+37.0 2012: R+16.3 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.83%
• Current HPI: 148.0076
• 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

+113.7% since first listed

21 events — show timeline

• 2026-03-18 Listed $109,000 AABOR
• 2025-12-09 Relisted — AABOR
• 2025-10-30 Contingent — AABOR
• 2025-10-27 Price Changed $109,900 AABOR
• 2025-10-24 Price Changed $121,400 AABOR
• 2025-10-20 Price Changed $121,700 AABOR
• 2025-10-15 Price Changed $122,000 AABOR
• 2025-10-14 Price Changed $122,200 AABOR
• 2025-10-13 Price Changed $122,300 AABOR
• 2025-10-08 Price Changed $122,700 AABOR
• 2025-09-28 Price Changed $123,200 AABOR
• 2025-09-27 Price Changed $123,300 AABOR
• 2025-09-24 Price Changed $123,500 AABOR
• 2025-09-22 Price Changed $123,700 AABOR
• 2025-09-20 Price Changed $123,900 AABOR
• 2025-09-18 Price Changed $124,000 AABOR
• 2025-09-04 Price Changed $124,500 AABOR
• 2025-08-25 Price Changed $129,000 AABOR
• 2025-08-21 Listed $129,900 AABOR
• 2008-04-24 Sold (Public Records) $40,000 Public Records
• 2004-05-25 Sold (Public Records) $51,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $337 · -1.1% YoY. Source: county tax records.