3108 Madison St · Paducah, KY 42001

$99,900

4 bd · 2.0 ba · 2,016 sqft · SingleFamily · 788 Days on market

Built 1912 10,454 sqft lot $50/sqft · 58% below area

---

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 +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic 4-bedroom home offering over 2,000 square feet with major updates already started. Seller has completed key exterior and structural improvements including new siding, windows, sheetrock, and significant yard cleanup. Interior has been opened up with removal of drop ceilings and kitchen cabinets, creating a blank slate for renovation. Features include high ceilings, original wood flooring, large room sizes, and multiple fireplaces that highlight the home’s character and potential. Electrical work has been updated in the kitchen and is ready for final connection to the panel. Property is being sold as-is and is ideal for investors, flippers, or buyers looking to customize a historic home to their own specifications. Large lot with detached garage and located within city limits with immediate possession available.

Key facts

• Historic home
• 0.24 acre lot
• Garage

Tags

• HISTORIC HOME

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 4.5% in Paducah — 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 68/100 on livability (#197 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, employment D.
• Paducah Independent (town): math 22% / reading 36% proficiency, ranked #122 of 165 in KY (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 248 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 187 units permitted in McCracken County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• McCracken County population projected to shrink 9% 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 788 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $100k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — 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 $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 788 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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. 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: 1.61% ✓
• Cap rate: 13.25%
• Cash-on-cash: 24.85%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

• ARV (median comp): $236,124
• List price: $99,900
• Delta: -57.69%
• 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
2543 Clay St	0.59mi	4/2.0	2,025 (+0%)	1mo	$200,000	$99	71
310 Friedman Ave	0.43mi	4/2.0	1,878 (-7%)	3mo	$145,000	$77	66
3201 Buckner Ln	0.23mi	3/2.0 (-1)	1,847 (-8%)	9mo	$200,000	$108	63
2724 Jefferson St	0.45mi	3/1.5 (-1)	1,972 (-2%)	7mo	$222,000	$113	62
2908 Clark St	0.52mi	3/2.0 (-1)	1,936 (-4%)	4mo	$160,000	$83	60
2431 Trimble St	0.73mi	3/2.0 (-1)	2,032 (+1%)	2mo	$217,000	$107	58
329 Friedman Ave	0.46mi	3/2.0 (-1)	1,805 (-10%)	2mo	$300,000	$166	55
729 W Jefferson St	0.62mi	3/2.0 (-1)	1,824 (-10%)	6mo	$208,500	$114	45
2544 Trimble St	0.60mi	3/2.0 (-1)	1,755 (-13%)	2mo	$239,000	$136	44
327 Friedman Ave	0.45mi	3/1.0 (-1)	1,715 (-15%)	2mo	$185,000	$108	44
2812 Kentucky Ave	0.47mi	3/2.0 (-1)	2,309 (+14%)	8mo	$239,900	$104	42
2605 Adams St	0.74mi	3/2.0 (-1)	1,723 (-14%)	5mo	$178,000	$103	32

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: 18.3%
• Equity multiple: 1.74×
• Total profit: $20,723
• Equity at exit: $14,895

10-year hold

• IRR: 26.7%
• Equity multiple: 3.35×
• Total profit: $65,641
• Equity at exit: $8,638

Cash invested: $27,972 (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 42001

• Home prices YoY: -24.8%
• Active inventory: 248
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,607 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $579

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 59%

Sensitivity live

Price	-10% $648	-5% $614	+0% $579	+5% $545	+10% $510
Rent	-10% $452	-5% $516	+0% $579	+5% $643	+10% $706
Rate	-1.0pp $629	-0.5pp $605	base $579	+0.5pp $553	+1.0pp $527

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
732 Hillgate St Paducah, KY	5.0	3.0	2680	$900	$0.34	44d	1	0.87mi

Listing history 9 events

1. 2025-11-28
   status Active 837-char remark

   Show marketing remark (837 chars)

   Historic 4-bedroom home offering over 2,000 square feet with major updates already started. Seller has completed key exterior and structural improvements including new siding, windows, sheetrock, and significant yard cleanup. Interior has been opened up with removal of drop ceilings and kitchen cabinets, creating a blank slate for renovation. Features include high ceilings, original wood flooring, large room sizes, and multiple fireplaces that highlight the home’s character and potential. Electrical work has been updated in the kitchen and is ready for final connection to the panel. Property is being sold as-is and is ideal for investors, flippers, or buyers looking to customize a historic home to their own specifications. Large lot with detached garage and located within city limits with immediate possession available.

2. 2025-11-07
   price $99,900 837-char remark

   Show marketing remark (837 chars)

   Historic 4-bedroom home offering over 2,000 square feet with major updates already started. Seller has completed key exterior and structural improvements including new siding, windows, sheetrock, and significant yard cleanup. Interior has been opened up with removal of drop ceilings and kitchen cabinets, creating a blank slate for renovation. Features include high ceilings, original wood flooring, large room sizes, and multiple fireplaces that highlight the home’s character and potential. Electrical work has been updated in the kitchen and is ready for final connection to the panel. Property is being sold as-is and is ideal for investors, flippers, or buyers looking to customize a historic home to their own specifications. Large lot with detached garage and located within city limits with immediate possession available.

3. 2025-08-26
   price $109,900 837-char remark

   Show marketing remark (837 chars)

   Historic 4-bedroom home offering over 2,000 square feet with major updates already started. Seller has completed key exterior and structural improvements including new siding, windows, sheetrock, and significant yard cleanup. Interior has been opened up with removal of drop ceilings and kitchen cabinets, creating a blank slate for renovation. Features include high ceilings, original wood flooring, large room sizes, and multiple fireplaces that highlight the home’s character and potential. Electrical work has been updated in the kitchen and is ready for final connection to the panel. Property is being sold as-is and is ideal for investors, flippers, or buyers looking to customize a historic home to their own specifications. Large lot with detached garage and located within city limits with immediate possession available.

4. 2024-03-27
   listed $119,900 Active 837-char remark

   Show marketing remark (837 chars)

   Historic 4-bedroom home offering over 2,000 square feet with major updates already started. Seller has completed key exterior and structural improvements including new siding, windows, sheetrock, and significant yard cleanup. Interior has been opened up with removal of drop ceilings and kitchen cabinets, creating a blank slate for renovation. Features include high ceilings, original wood flooring, large room sizes, and multiple fireplaces that highlight the home’s character and potential. Electrical work has been updated in the kitchen and is ready for final connection to the panel. Property is being sold as-is and is ideal for investors, flippers, or buyers looking to customize a historic home to their own specifications. Large lot with detached garage and located within city limits with immediate possession available.

5. 2019-08-15
   soldstatus $27,000
6. 2019-07-02
   listed $45,000
7. 2018-05-14
   soldstatus $60,000
8. 2018-02-01
   listed $69,900
9. 2017-04-14
   listed $59,900

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,284
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$2,906
• Taxable income: $5,699
• Est. tax owed @ 24.0%: −$1,368
• After-tax cash flow: $5,582/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: Paducah Independent
• NCES district ID: 2104650
• Math proficiency: 22% ▼ -14.00%
• Reading proficiency: 36% ▼ -17.00%
• Median HH income: $30,067
• Composite: 23.41/100
• National rank: #7896
• State rank: #122 of 165 in KY

Livability — Paducah

• Score: 68/100
• State rank: #197
• US rank: #9780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paducah, KY
• County: McCracken County · 30,856 people
• City population: 30,856
• Metro: Paducah, KY-IL
• Population (ZIP): 30,856
• Household income: $71,365
• Rent vs Own: 36.5% rent · 63.5% own
• Severe rent burden: 1001.0

Population outlook (McCracken County) Hauer SSP2

• Today (2025): 64,237 people
• By 2030: 63,468 · -1.2%
• By 2040: 61,221 · -4.7%
• By 2050: 58,432 · -9.0%
• By 2075: 52,668 · -18.0%
• By 2100: 44,517 · -30.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 2% Italian 2% Serbian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · McCracken

• 2024 margin: Solid R (+34.9) · D 31.9% · R 66.8% · Other 1.2%
• 2008→2024 swing: -9.7pp toward R · 2008: -25.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+31.7 2016: R+37.2 2012: R+32.5 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.23%
• Current HPI: 258.1706
• Rent YoY: —
• Metro: Paducah, KY-IL
• 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

+66.8% since first listed

9 events — show timeline

• 2025-11-28 Relisted — WKRMLS
• 2025-11-07 Price Changed $99,900 WKRMLS
• 2025-08-26 Price Changed $109,900 WKRMLS
• 2024-03-27 Listed $119,900 WKRMLS
• 2019-08-15 Sold (MLS) $27,000 WKRMLS
• 2019-07-02 Listed $45,000 WKRMLS
• 2018-05-14 Sold (MLS) $60,000 WKRMLS
• 2018-02-01 Listed $69,900 WKRMLS
• 2017-04-14 Listed $59,900 WKRMLS

Property tax history

-25.3%/yr

Latest (2025): $97 · -0.8% YoY. Source: county tax records.