407 Sycamore Street St · Greenup, KY 41144

$29,900

2 bd · 1.0 ba · 1,440 sqft · SingleFamily · 71 Days on market

$21/sqft · 76% below area ↓ 31% since listing

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Looking for a project with potential? This 2-bedroom, 1-bath home offers a great opportunity to make it your own or add to your investment portfolio. The property features an unfinished basement, perfect for extra storage space, and a large enclosed area off the kitchen that provides additional living space or room for customization. Enjoy relaxing on the spacious front porch, adding to the home’s charm and curb appeal. With some work and vision, this property could truly shine. Don’t miss your chance to bring it back to life!

Key facts

• Unfinished basement
• Spacious front porch
• Large enclosed area

Tags

• UNFINISHED BASEMENT
• LARGE ENCLOSED AREA
• SPACIOUS FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#192 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Greenup County (suburban): math 23% / reading 35% proficiency, ranked #118 of 165 in KY (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 35 active listings in the ZIP; 20 units permitted in Greenup County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($207 loan paydown + $3k appreciation (10.0% local appreciation)).
• Greenup County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, 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 71 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 3.62% ✓
• Cap rate: 31.84%
• Cash-on-cash: 91.24%
• DSCR: 5.06
• GRM: 2.3

CMA / ARV

• ARV (median comp): $126,207
• List price: $29,900
• Delta: -76.31%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 Chesapeake Ave	0.21mi	3/1.0 (+1)	1,310 (-9%)	22mo	$15,000	$11	52

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 93.0%
• Equity multiple: 7.37×
• Total profit: $53,348
• Equity at exit: $26,936

10-year hold

• IRR: 87.9%
• Equity multiple: 16.30×
• Total profit: $128,116
• Equity at exit: $58,089

Cash invested: $8,372 (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 41144

• Home prices YoY: 8.4%
• Active inventory: 35
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$50 /mo · $599/yr
• Insurance: −$12
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $581

Break-even live

Break-even rent $348

Max offer price $29,900

Occupancy floor 41%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $29,900 Active 71 DOM
2. 2026-06-17
   days on market $29,900 Active 70 DOM
3. 2026-06-16
   days on market $29,900 Active 69 DOM
4. 2026-06-15
   days on market $29,900 Active 68 DOM
5. 2026-06-13
   days on market $29,900 Active 66 DOM
6. 2026-06-12
   days on market $29,900 Active 65 DOM
7. 2026-06-09
   days on market $29,900 Active 62 DOM
8. 2026-06-08
   days on market $29,900 Active 61 DOM
9. 2026-06-07
   days on market $29,900 Active 60 DOM
10. 2026-06-07
    days on market $29,900 Active 59 DOM
11. 2026-06-04
    days on market $29,900 Active 56 DOM
12. 2026-06-02
    pricedays on market $29,900 Active 55 DOM
13. 2026-06-01
    days on market $37,900 Active 54 DOM
14. 2026-05-31
    days on market $37,900 Active 53 DOM
15. 2026-05-31
    days on market $37,900 Active 52 DOM
16. 2026-04-30
    price $37,900 544-char remark

    Show marketing remark (541 chars)

    Looking for a project with potential? This 2-bedroom, 1-bath home offers a great opportunity to make it your own or add to yourinvestment portfolio. The property features an unfinished basement, perfect for extra storage space, and a large enclosed area off thekitchen that provides additional living space or room for customization. Enjoy relaxing on the spacious front porch, adding to the home’scharm and curb appeal. With some work and vision, this property could truly shine. Don’t miss your chance to bring it back to life!

17. 2026-04-30
    price $37,900 541-char remark

    Show marketing remark (541 chars)

    Looking for a project with potential? This 2-bedroom, 1-bath home offers a great opportunity to make it your own or add to yourinvestment portfolio. The property features an unfinished basement, perfect for extra storage space, and a large enclosed area off thekitchen that provides additional living space or room for customization. Enjoy relaxing on the spacious front porch, adding to the home’scharm and curb appeal. With some work and vision, this property could truly shine. Don’t miss your chance to bring it back to life!

18. 2026-04-14
    listed $44,900 Active 541-char remark

    Show marketing remark (541 chars)

    Looking for a project with potential? This 2-bedroom, 1-bath home offers a great opportunity to make it your own or add to yourinvestment portfolio. The property features an unfinished basement, perfect for extra storage space, and a large enclosed area off thekitchen that provides additional living space or room for customization. Enjoy relaxing on the spacious front porch, adding to the home’scharm and curb appeal. With some work and vision, this property could truly shine. Don’t miss your chance to bring it back to life!

19. 2026-04-08
    listed $44,900 Active 544-char remark

    Show marketing remark (544 chars)

    Looking for a project with potential? This 2-bedroom, 1-bath home offers a great opportunity to make it your own or add to your investment portfolio. The property features an unfinished basement, perfect for extra storage space, and a large enclosed area off the kitchen that provides additional living space or room for customization. Enjoy relaxing on the spacious front porch, adding to the home’s charm and curb appeal. With some work and vision, this property could truly shine. Don’t miss your chance to bring it back to life!

20. 2025-03-13
    price $44,000
21. 2024-09-15
    listed $54,900 Active

ⓘ 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: $599 · $50/mo
• Projected year-2 tax: $599 · $50/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,998
• − Mortgage interest: −$1,675
• − Property taxes: −$599
• − Insurance: −$816
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$870
• Taxable income: $6,959
• Est. tax owed @ 24.0%: −$1,670
• After-tax cash flow: $5,302/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: Greenup County
• NCES district ID: 2102400
• Math proficiency: 23% ▼ -19.00%
• Reading proficiency: 35% ▼ -18.00%
• Median HH income: $39,526
• Composite: 24.33/100
• National rank: #7702
• State rank: #118 of 165 in KY

Livability — Greenup

• Score: 68/100
• State rank: #192
• US rank: #9586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenup, KY
• County: Greenup · 24,497 people
• Metro: Huntington-Ashland, WV-KY-OH
• Population (ZIP): 8,457
• Household income: $57,782
• Rent vs Own: 16.7% rent · 83.3% own

Population outlook (Greenup County) Hauer SSP2

• Today (2025): 34,374 people
• By 2030: 33,145 · -3.6%
• By 2040: 30,407 · -11.5%
• By 2050: 27,702 · -19.4%
• By 2075: 21,970 · -36.1%
• By 2100: 16,670 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 0%

Political lean MEDSL · Greenup

• 2024 margin: Solid R (+50.5) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -36.4pp toward R · 2008: -14.1pp · 2024: -50.5pp
• All cycles: 2024: R+50.5 2020: R+45.1 2016: R+45.5 2012: R+18.6 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.56%
• Current HPI: 225.77
• 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

-31.0% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $37,900 AABOR
• 2026-04-30 Price Changed $37,900 HBRMLS
• 2026-04-14 Listed $44,900 HBRMLS
• 2026-04-08 Listed $44,900 AABOR
• 2025-03-13 Price Changed $44,000 AABOR
• 2024-09-15 Listed $54,900 AABOR

Property tax history

+33.3%/yr

Latest (2025): $599 · +9876.8% YoY. Source: county tax records.