237 Edwards St · Owensboro, KY 42301

$49,900

3 bd · 1.0 ba · 1,327 sqft · SingleFamily public records · 31 Days on market

Built 1953 7,000 sqft lot ↓ 8% 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 +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * Attention investors * * * As is property. Inside will need full restoration but property has good bones. Will not qualify for financing. Built in 1953 and on a large lot across from Twin Rivers Nursing facility. This would be a great investment opportunity. Property is being sold as is! Very motivated seller.

Key facts

• 7,000 sq ft lot
• Built 1953
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $826 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.2% vs local median 3.1% in Owensboro — 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 71/100 on livability (#148 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime D-, amenities F.
• Owensboro Independent (urban): math 27% / reading 36% proficiency, ranked #100 of 165 in KY (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cravens Elementary School (math 17% / reading 22%, grade F, #572 of 676 statewide, top 88%, 370 students, 92% FRL); Owensboro Middle School (math 25% / reading 34%, grade F, #151 of 217 statewide, top 71%, 807 students, 74% FRL); Owensboro High School (math 30% / reading 40%, grade F, #74 of 254 statewide, top 29%, 1,334 students, 58% FRL).
• Market conditions: 297 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.86% ✓
• Cap rate: 26.16%
• Cash-on-cash: 70.96%
• DSCR: 4.16
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $171,183
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
237 Edwards St	0.00mi	3/1.0	1,327 (0%)	2mo	$30,000	$23	99
2114 W 5th St	0.26mi	3/1.0	1,250 (-6%)	3mo	$142,000	$114	76
2304 W 7th St	0.33mi	3/1.5	1,376 (+4%)	3mo	$135,000	$98	74
1605 W Fifth St	0.59mi	3/1.5	1,300 (-2%)	3mo	$170,000	$131	64
918 Marianna Dr	0.55mi	3/1.0	1,262 (-5%)	3mo	$149,500	$118	64
679 Ridgewood St	0.69mi	3/1.0	1,247 (-6%)	0mo	$90,000	$72	58
1002 Piedmont Dr	0.62mi	3/1.0	1,392 (+5%)	6mo	$184,700	$133	58
615 Fargo St	0.56mi	3/2.0	1,280 (-4%)	8mo	$179,900	$141	57
2929 Wandering Ln	0.69mi	3/1.0	1,252 (-6%)	9mo	$169,900	$136	51
2935 Wandering Ln	0.69mi	3/1.0	1,189 (-10%)	3mo	$174,900	$147	48
738 Dornell St	0.51mi	2/1.0 (-1)	1,134 (-14%)	2mo	$136,000	$120	45
3023 Wandering Ln	0.70mi	3/1.0	1,131 (-15%)	5mo	$145,500	$129	39

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: 70.5%
• Equity multiple: 4.19×
• Total profit: $44,527
• Equity at exit: $7,440

10-year hold

• IRR: 74.5%
• Equity multiple: 8.62×
• Total profit: $106,503
• Equity at exit: $4,314

Cash invested: $13,972 (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 42301

• Home prices YoY: -31.0%
• Active inventory: 297
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$17 /mo · $206/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $826

Break-even live

Break-even rent $379

Max offer price $49,900

Occupancy floor 37%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1202 Hutch Ln Unit A Owensboro, KY	2.0	1.0	989	$825	$0.83	13d	1	0.68mi

Listing history 6 events

1. 2026-04-25
   status Pending
2. 2026-04-13
   price $49,900
3. 2026-04-03
   price $54,900
4. 2026-03-25
   listed $59,900 Active
5. 2015-04-01
   soldstatus $54,000
6. 2015-04-01
   soldstatus $54,000

ⓘ 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: $206 · $17/mo
• Projected year-2 tax: $429 · $36/mo
• Expected delta: +$223/yr (+$19/mo · 108.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,100
• − Mortgage interest: −$2,795
• − Property taxes: −$206
• − Insurance: −$250
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$1,452
• Taxable income: $9,662
• Est. tax owed @ 24.0%: −$2,319
• After-tax cash flow: $7,595/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: Owensboro Independent
• NCES district ID: 2104590
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $33,020
• Composite: 25.79/100
• National rank: #7364
• State rank: #100 of 165 in KY

Livability — Owensboro

• Score: 71/100
• State rank: #148
• US rank: #7153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owensboro, KY
• County: Daviess County · 87,564 people
• City population: 87,564
• Metro: Owensboro, KY
• Population (ZIP): 45,445
• Household income: $66,885
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 1228.0

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 103,810 people
• By 2030: 105,722 · +1.8%
• By 2040: 108,731 · +4.7%
• By 2050: 110,295 · +6.2%
• By 2075: 113,056 · +8.9%
• By 2100: 106,257 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: -10.1pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+27.9 2016: R+32.2 2012: R+21.1 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.96%
• Current HPI: 238.2395
• Rent YoY: —
• Metro: Owensboro, KY
• 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

-7.6% since first listed

6 events — show timeline

• 2026-04-25 Pending — GORAMLS
• 2026-04-13 Price Changed $49,900 GORAMLS
• 2026-04-03 Price Changed $54,900 GORAMLS
• 2026-03-25 Listed $59,900 GORAMLS
• 2015-04-01 Sold (Public Records) $54,000 Public Records
• 2015-04-01 Sold (Public Records) $54,000 Public Records

Property tax history

-4.4%/yr

Latest (2025): $206 · -3.3% YoY. Source: county tax records.