127 Underwood Ave · Hodgenville, KY 42748

$134,000

2 bd · 1.0 ba · 802 sqft · Other public records · 8 Days on market

Built 1940 5,662 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Active Under Contract as of 06/11/2026. Property sold AS-IS. Buyer and buyer's agent to verify any and all pertinent information. There is an active security system. Will send a code if needed.

Key facts

• 5,662 sq ft lot
• Parking
• Built 1940

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1940; Vinyl siding; Metal roof; Concrete block foundation
• Exterior features: Partial chain-link fencing

Interior

• Kitchen: Main-level kitchen
• Bedrooms: Two bedrooms total; Primary bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Seven total rooms; No basement; Family room on the main level; Main-level office
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $134k.

Deal economics

• At list price, monthly cash flow is $862 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Cap rate 14.0% vs local median 4.1% in Hodgenville — 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 65/100 on livability (#259 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Larue County (rural): math 26% / reading 40% proficiency, ranked #82 of 165 in KY (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 65 units permitted in Larue County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Larue County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $134,000

Questions for the listing agent

1. Built in 1940 — 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 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?
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 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: 1.57% ✓
• Cap rate: 14.01%
• Cash-on-cash: 27.56%
• DSCR: 2.23
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.6%
• Equity multiple: 1.88×
• Total profit: $33,114
• Equity at exit: $19,980

10-year hold

• IRR: 29.7%
• Equity multiple: 3.65×
• Total profit: $99,302
• Equity at exit: $11,586

Cash invested: $37,520 (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 42748

• Home prices YoY: -28.9%
• Active inventory: 79
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$39 /mo · $466/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $862

Break-even live

Break-even rent $1,009

Max offer price $134,000

Occupancy floor 54%

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Despain Ct Hodgenville, KY	2.0	2.0	1100	$2,100	$1.91	20d	1	0.53mi

Listing history 7 events

1. 2026-06-18
   days on market $134,000 Active 8 DOM
2. 2026-06-17
   days on market $134,000 Active 7 DOM
3. 2026-06-16
   days on market $134,000 Active 6 DOM
4. 2026-06-15
   days on market $134,000 Active 5 DOM
5. 2026-06-14
   days on market $134,000 Active 3 DOM
6. 2026-06-13
   remarks 531-char remark
7. 2026-06-13
   listed $134,000 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: $466 · $39/mo
• Projected year-2 tax: $1,152 · $96/mo
• Expected delta: +$686/yr (+$57/mo · 147.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $25,200
• − Mortgage interest: −$7,506
• − Property taxes: −$466
• − Insurance: −$670
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$3,898
• Taxable income: $8,627
• Est. tax owed @ 24.0%: −$2,071
• After-tax cash flow: $8,268/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: Larue County
• NCES district ID: 2103180
• Math proficiency: 26% ▼ -20.00%
• Reading proficiency: 40% ▼ -19.00%
• Median HH income: $39,784
• Composite: 27.66/100
• National rank: #6918
• State rank: #82 of 165 in KY

Livability — Hodgenville

• Score: 65/100
• State rank: #259
• US rank: #12858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hodgenville, KY
• Population (ZIP): 9,189

Population outlook (Larue County) Hauer SSP2

• Today (2025): 14,441 people
• By 2030: 14,453 · +0.1%
• By 2040: 14,258 · -1.3%
• By 2050: 13,687 · -5.2%
• By 2075: 12,271 · -15.0%
• By 2100: 10,639 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Black 1%
• Common ancestry: Lithuanian 4% Serbian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Larue

• 2024 margin: Solid R (+60.4) · D 19.1% · R 79.5% · Other 1.3%
• 2008→2024 swing: -24.1pp toward R · 2008: -36.3pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+57.3 2016: R+55.4 2012: R+37.8 2008: R+36.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.53%
• Current HPI: 241.8077
• 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

+396.3% since first listed

16 events — show timeline

• 2026-06-11 Listed $134,000 HKARMLS
• 2026-06-10 Listed $134,000 Metro Search MLS
• 2026-06-10 Price Changed $134,000 Metro Search MLS
• 2023-09-22 Sold (Public Records) $123,495 Public Records
• 2023-09-22 Sold (MLS) $123,495 HKARMLS
• 2023-09-22 Sold (MLS) $123,495 Metro Search MLS
• 2023-08-30 Pending — HKARMLS
• 2023-08-10 Delisted — HKARMLS
• 2023-08-07 Pending — Metro Search MLS
• 2023-08-07 Pending — HKARMLS
• 2023-08-02 Listed $124,900 HKARMLS
• 2023-08-02 Listed $124,900 Metro Search MLS
• 2023-02-07 Sold (Public Records) $33,000 Public Records
• 2013-03-05 Sold (Public Records) $47,500 Public Records
• 2011-05-01 Sold (Public Records) $46,750 Public Records
• 1999-08-01 Sold (Public Records) $27,000 Public Records

Property tax history

+6.0%/yr

Latest (2022): $466 · +79.6% YoY. Source: county tax records.