1933 S 28th St · Paducah, KY 42001

$289,900

8 bd · 4.0 ba · 4,675 sqft · MultiFamily · 8 Days on market

0.33 ac lot ↓ 36% 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
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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

Multifamily investment opportunity. Five (5) of the six (6) units are 2BR/1Bath and rent ranging from $715-$825/mo. All tenants are current with no arrears. CAPEX are electrical upgrades and renovations in all units. Refurbished/new flooring in downstairs units. Repair/reinforced wood deck/steps and soffits and new gutters. No known deferred maintenance.

Key facts

• Reinforced wood deck
• New gutters
• Refurbished flooring

Tags

• ELECTRICAL UPGRADES
• RENOVATIONS IN ALL UNITS
• REFURBISHED FLOORING
• REINFORCED WOOD DECK
• NEW GUTTERS
• NO KNOWN DEFERRED MAINTENANCE

Property features AI

Exterior

• Parking: Circular driveway
• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Residential income property (multi-family); Five-or-more unit building; 2 stories
• Construction: Block and frame construction; Shingle roof; Slab foundation; Built as multi-family residential
• Exterior features: Balcony; Level lot

Interior

• Flooring: Laminate flooring; Wood flooring
• Bathrooms: Six full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Laminate and wood flooring

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $521/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $290k).
• Cap rate 14.9% 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-, employment D, amenities F.
• 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.
• Zoned schools: Morgan Elementary School (math 17% / reading 22%, grade F, #572 of 676 statewide, top 88%, 380 students, 89% FRL); Paducah Middle School (math 19% / reading 36%, grade F, #168 of 217 statewide, top 78%, 652 students, 69% FRL); Paducah Tilghman High School (math 22% / reading 42%, grade F, #97 of 254 statewide, top 46%, 878 students, 64% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: 248 active listings in the ZIP; 187 units permitted in McCracken County in 2024 (104 in 5+ unit buildings).
• At $5,176/mo this rent would consume 87% of the median local household income ($71k/yr) (locally 1001% 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 $9k 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 $81k cash investment doubles in ~4 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 2y 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.

Recommended offer $289,900

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.79% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.83%
• DSCR: 2.37
• GRM: 4.7

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: 25.6%
• Equity multiple: 2.06×
• Total profit: $85,935
• Equity at exit: $43,225

10-year hold

• IRR: 33.3%
• Equity multiple: 4.03×
• Total profit: $246,192
• Equity at exit: $25,065

Cash invested: $81,172 (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: 18.7×

Monthly cashflow live

• Estimated rent: $5,176 medium
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,087
• Net cashflow: $2,086

Break-even live

Break-even rent $2,536

Max offer price $289,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$5,176
Total (4 units)			$5,176

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $289,900 Active 8 DOM
2. 2026-06-18
   days on market $289,900 Active 7 DOM
3. 2026-06-17
   days on market $289,900 Active 6 DOM
4. 2026-06-16
   days on market $289,900 Active 5 DOM
5. 2026-06-15
   days on market $289,900 Active 4 DOM
6. 2026-06-14
   days on market $289,900 Active 2 DOM
7. 2026-06-12
   remarks 356-char remark
8. 2026-06-12
   listed $289,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $62,112
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$4,969
• − Management: −$4,969
• − Depreciation: −$8,433
• Taxable income: $21,704
• Est. tax owed @ 24.0%: −$5,209
• After-tax cash flow: $19,818/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

-35.6% since first listed

8 events — show timeline

• 2026-06-11 Listed $289,900 WKRMLS
• 2024-12-13 Listed $349,000 WKRMLS
• 2024-10-31 Relisted — WKRMLS
• 2024-10-26 Price Changed $349,000 WKRMLS
• 2024-07-01 Price Changed $369,900 WKRMLS
• 2024-05-14 Price Changed $395,000 WKRMLS
• 2024-04-24 Price Changed $420,000 WKRMLS
• 2024-03-22 Listed $450,000 WKRMLS