402 E Wayne St · Glasgow, KY 42141

$200,000

12 bd · 9.0 ba · 2,400 sqft · MultiFamily · 179 Days on market

0.45 ac lot ↓ 46% 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 +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 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 MLS

This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. These two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

Key facts

• Historic main home
• Natural light
• 0.45 acre lot

Tags

• HISTORIC MAIN HOME
• PRESERVED ARCHITECTURAL CHARM
• NEWLY UPDATED KITCHENS
• NATURAL LIGHT
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO DINING

Property features AI

Finance

• Financial info: Property marketed as residential income / multi-family

Exterior

• Home design: Residential income property; Multi-family
• Exterior features: Lot approximately 0.45 acres

Interior

• Bathrooms: 3 full bathrooms
• Interior features: Three full bathrooms

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/?-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $350/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 3.4% in Glasgow — 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 76/100 on livability (#92 in KY, #3,738 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Glasgow Independent (town): math 32% / reading 40% proficiency, ranked #69 of 165 in KY (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Green Elementary School (math 31% / reading 36%, grade F, #334 of 676 statewide, top 50%, 538 students, 60% FRL); Glasgow Middle School (math 29% / reading 43%, grade F, #91 of 217 statewide, top 43%, 539 students, 61% FRL); Glasgow High School (math 42% / reading 47%, grade F, #21 of 254 statewide, top 10%, 589 students, 53% FRL).
• Market conditions: 298 active listings in the ZIP; 283 units permitted in Barren County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Barren County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts 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

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.54% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.51%
• DSCR: 2.00
• GRM: 5.4

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: 15.4%
• Equity multiple: 1.62×
• Total profit: $34,529
• Equity at exit: $29,821

10-year hold

• IRR: 24.0%
• Equity multiple: 3.08×
• Total profit: $116,389
• Equity at exit: $17,292

Cash invested: $56,000 (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 42141

• Home prices YoY: -20.6%
• Active inventory: 298
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,079 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $1,050

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,188	-5% $1,119	+0% $1,050	+5% $981	+10% $912
Rent	-10% $807	-5% $929	+0% $1,050	+5% $1,172	+10% $1,293
Rate	-1.0pp $1,151	-0.5pp $1,101	base $1,050	+0.5pp $998	+1.0pp $946

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	—	$3,078
Total (3 units)			$3,079

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $200,000 Active 179 DOM
2. 2026-06-21
   pricedays on marketlisting id $200,000 Active 178 DOM
3. 2026-06-18
   days on market $150,000 Active 176 DOM
4. 2026-06-17
   days on market $150,000 Active 175 DOM
5. 2026-06-16
   days on market $150,000 Active 174 DOM
6. 2026-06-15
   days on market $150,000 Active 173 DOM
7. 2026-06-13
   days on market $150,000 Active 171 DOM
8. 2026-06-12
   days on market $150,000 Active 170 DOM
9. 2026-06-09
   days on market $150,000 Active 167 DOM
10. 2026-06-08
    days on market $150,000 Active 166 DOM
11. 2026-06-07
    days on market $150,000 Active 165 DOM
12. 2026-06-07
    days on market $150,000 Active 164 DOM
13. 2026-06-04
    days on market $150,000 Active 161 DOM
14. 2026-06-02
    days on market $150,000 Active 160 DOM
15. 2026-06-01
    days on market $150,000 Active 159 DOM
16. 2026-05-31
    pricelisting id $150,000 Active 158 DOM
17. 2026-05-31
    days on market $200,000 Active 158 DOM
18. 2026-05-31
    days on market $200,000 Active 157 DOM
19. 2026-05-20
    status Active 1089-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

20. 2026-05-20
    status Active 1389-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

21. 2026-05-20
    status Active

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

22. 2025-12-07
    listed $200,000 Active

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

23. 2025-12-07
    listed $150,000 Active 1089-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

24. 2025-12-07
    status Active 1389-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

25. 2025-12-07
    price $330,000 1389-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

26. 2025-08-04
    price $345,000 1389-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

27. 2025-05-02
    listed $369,900 Active 1389-char remark

    Show marketing remark (1389 chars)

    This rare downtown Glasgow property offers exceptional flexibility, with five total units that can be purchased in several different configurations. Buyers can choose to purchase the historic main home containing three units, the pair of studio-style units sold together, or the entire five-unit package as one investment. This allows owner occupants, investors, or portfolio builders to tailor the purchase to their goals. Contact your agent for pricing specific to each configuration. The main historic home includes three units: two 1-bedroom units and one 2-bedroom unit. These spaces feature preserved architectural charm, 10-foot ceilings, brand new windows that fill the rooms with natural light, original hardwood floors, and newly updated kitchens with new appliances. The additional two studio-style units, sold together as their own package, offer open concept living with updated kitchens and strong rental appeal. One studio functions as a 2-bedroom layout and the other as a 1-bedroom unit. Located in the heart of downtown Glasgow, this property sits within walking distance to shopping, dining, and local amenities, offering consistent tenant demand and long-term investment potential. Whether you are expanding your portfolio or looking for an owner occupant opportunity with income producing units, this multifamily property combines character, location, and versatility.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,948
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,956
• − Management: −$2,956
• − Depreciation: −$5,818
• Taxable income: $10,015
• Est. tax owed @ 24.0%: −$2,404
• After-tax cash flow: $10,199/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: Glasgow Independent
• NCES district ID: 2102220
• Math proficiency: 32% ▼ -21.00%
• Reading proficiency: 40% ▼ -16.00%
• Median HH income: $27,729
• Composite: 29.02/100
• National rank: #6610
• State rank: #69 of 165 in KY

Livability — Glasgow

• Score: 76/100
• State rank: #92
• US rank: #3738

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glasgow, KY
• Population (ZIP): 32,133

Population outlook (Barren County) Hauer SSP2

• Today (2025): 46,858 people
• By 2030: 48,311 · +3.1%
• By 2040: 50,931 · +8.7%
• By 2050: 52,820 · +12.7%
• By 2075: 56,499 · +20.6%
• By 2100: 55,831 · +19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 5% Black 4%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Barren

• 2024 margin: Solid R (+52.8) · D 23.1% · R 75.9% · Other 1.1%
• 2008→2024 swing: -18.9pp toward R · 2008: -33.9pp · 2024: -52.8pp
• All cycles: 2024: R+52.8 2020: R+47.5 2016: R+49.9 2012: R+33.3 2008: R+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.48%
• Current HPI: 278.8778
• 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

-45.9% since first listed

9 events — show timeline

• 2026-05-20 Relisted — RASKMLS
• 2026-05-20 Relisted — RASKMLS
• 2026-05-20 Relisted — RASKMLS
• 2025-12-07 Listed $200,000 RASKMLS
• 2025-12-07 Listed $150,000 RASKMLS
• 2025-12-07 Relisted — RASKMLS
• 2025-12-07 Price Changed $330,000 RASKMLS
• 2025-08-04 Price Changed $345,000 RASKMLS
• 2025-05-02 Listed $369,900 RASKMLS