501 E Madison St · Franklin, KY 42134

$134,000

2 bd · 1.0 ba · 1,287 sqft · SingleFamily public records · 156 Days on market

Built 1875 0.41 ac lot $104/sqft · 25% below area Est $174k · 23% under

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Why this score? — see what drove the C+ 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +4.9/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming home is rich with character and timeless appeal. Imagine the stories these walls hold. 1875 circa according to tax records. Offering 2 bedrooms and 1 bath and sits on a large level lot with space to enjoy outdoor living, gardening, etc. The detached building provides additional storage or flexible use. Recent updates include newer windows and a newer water heater. A rare opportunity to own a piece of history.

Key facts

• 0.41 acre lot
• Built 1875
• Listed 155 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (1.1% below list).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.9% in Franklin — 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 65/100 on livability (#266 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Simpson County (town): math 29% / reading 39% proficiency, ranked #72 of 165 in KY (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 255 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 204 units permitted in Simpson County in 2024 (31 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Simpson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $134k implies a 370% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — 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 $117,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 1875 — 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 F-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: 0.99% ✗
• Cap rate: 8.58%
• Cash-on-cash: 8.17%
• DSCR: 1.36
• GRM: 8.4

CMA / ARV

• ARV (median comp): $174,468
• List price: $134,000
• Delta: -23.20%
• 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
424 Morris St	0.27mi	2/1.0	1,282 (-0%)	11mo	$103,500	$81	78
308 Macedonia Rd	0.37mi	3/2.0 (+1)	1,299 (+1%)	3mo	$262,000	$202	69
309 Mcgoodwin Ave	0.33mi	3/1.0 (+1)	1,192 (-7%)	10mo	$113,000	$95	59
401 N High St	0.66mi	3/1.0 (+1)	1,248 (-3%)	0mo	$188,500	$151	59
400 Macedonia Rd	0.41mi	3/2.0 (+1)	1,316 (+2%)	11mo	$229,000	$174	58
612 Merle Ave	0.70mi	3/2.0 (+1)	1,296 (+1%)	7mo	$247,325	$191	51
618 Merle Ave	0.74mi	3/2.0 (+1)	1,296 (+1%)	7mo	$262,560	$203	49
401 W Washington St	0.74mi	2/2.0	1,318 (+2%)	11mo	$222,000	$168	49
402 Macedonia Rd	0.43mi	3/2.0 (+1)	1,187 (-8%)	11mo	$215,000	$181	48
500 Willow Ln	0.46mi	3/2.0 (+1)	1,142 (-11%)	3mo	$155,000	$136	48
612 Village Dr	0.61mi	3/1.5 (+1)	1,431 (+11%)	3mo	$233,000	$163	44
612 Lemon St	0.60mi	2/2.0	1,108 (-14%)	11mo	$215,000	$194	36

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: -3.9%
• Equity multiple: 0.85×
• Total profit: $-5,500
• Equity at exit: $19,980

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $15,915
• Equity at exit: $11,586

Cash invested: $37,520 (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 42134

• Home prices YoY: -27.7%
• Active inventory: 255
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,325 high
• Mortgage (P&I): −$703
• Tax from tax record: −$33 /mo · $395/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $256

Break-even live

Break-even rent $1,002

Max offer price $134,000

Occupancy floor 76%

Sensitivity live

Price	-10% $331	-5% $293	+0% $256	+5% $218	+10% $180
Rent	-10% $151	-5% $203	+0% $256	+5% $308	+10% $360
Rate	-1.0pp $323	-0.5pp $290	base $256	+0.5pp $221	+1.0pp $186

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
413 E Madison St Franklin, KY	2.0	1.0	1000	$1,300	$1.30	44d	1	0.09mi
205 Walker St Apt B Franklin, KY	3.0	2.5	1150	$1,750	$1.52	44d	1	0.67mi
813 W Madison St Franklin, KY	1.0–2.0	1.0–2.0	788	$1,195	$1.52	2d	7	1.14mi
834 N Main St Unit 27 Franklin, KY	2.0	1.0	980	$1,000	$1.02	44d	1	1.14mi
834 N Main St Unit 40 Franklin, KY	3.0	2.0	1280	$1,295	$1.01	44d	1	1.16mi
834 N Main St Unit 28 Franklin, KY	3.0	2.0	1000	$1,195	$1.20	44d	1	1.16mi
845 W Madison St Unit 20 Franklin, KY	2.0	1.0	900	$999	$1.11	21d	1	1.27mi
845 W Madison St Unit 2 Franklin, KY	1.0	1.0	900	$850	$0.94	21d	1	1.27mi
845 W Madison St Franklin, KY	1.0–2.0	1.0	900	$999	$1.11	13d	4	1.27mi
801 Blackjack Rd Franklin, KY	2.0–3.0	2.0	1171	$1,200	$1.02	13d	5	1.29mi
801 Blackjack Rd Unit 1101 Franklin, KY	3.0	2.0	1245	$1,425	$1.14	44d	1	1.29mi
801 Blackjack Rd Unit 1203 Franklin, KY	2.0	2.0	1097	$1,200	$1.09	44d	1	1.29mi
1030 Brookview Dr Unit 21C Franklin, KY	2.0	1.0	976	$950	$0.97	44d	1	1.35mi
811 Witt Rd Franklin, KY	3.0	2.0	1550	$2,195	$1.42	21d	1	1.35mi
965 W Madison St Apt C2 Franklin, KY	2.0	2.0	1070	$1,025	$0.96	21d	1	1.49mi

Listing history 24 events

1. 2026-06-19
   days on market $134,000 Active 156 DOM
2. 2026-06-18
   price $134,000 Active 155 DOM
3. 2026-06-18
   days on market $135,000 Active 155 DOM
4. 2026-06-17
   days on market $135,000 Active 154 DOM
5. 2026-06-16
   days on market $135,000 Active 153 DOM
6. 2026-06-15
   days on market $135,000 Active 152 DOM
7. 2026-06-14
   days on market $135,000 Active 150 DOM
8. 2026-06-13
   days on market $135,000 Active 149 DOM
9. 2026-06-10
   pricedays on market $135,000 Active 147 DOM
10. 2026-06-09
    days on market $137,500 Active 146 DOM
11. 2026-06-08
    days on market $137,500 Active 145 DOM
12. 2026-06-07
    days on market $137,500 Active 144 DOM
13. 2026-06-03
    days on market $137,500 Active 140 DOM
14. 2026-06-02
    days on market $137,500 Active 139 DOM
15. 2026-06-01
    days on market $137,500 Active 138 DOM
16. 2026-05-31
    days on market $137,500 Active 137 DOM
17. 2026-05-30
    days on market $137,500 Active 136 DOM
18. 2026-04-03
    price $144,900 426-char remark

    Show marketing remark (426 chars)

    This charming home is rich with character and timeless appeal. Imagine the stories these walls hold. 1875 circa according to tax records. Offering 2 bedrooms and 1 bath and sits on a large level lot with space to enjoy outdoor living, gardening, etc. The detached building provides additional storage or flexible use. Recent updates include newer windows and a newer water heater. A rare opportunity to own a piece of history.

19. 2026-02-12
    price $149,900 426-char remark

    Show marketing remark (426 chars)

    This charming home is rich with character and timeless appeal. Imagine the stories these walls hold. 1875 circa according to tax records. Offering 2 bedrooms and 1 bath and sits on a large level lot with space to enjoy outdoor living, gardening, etc. The detached building provides additional storage or flexible use. Recent updates include newer windows and a newer water heater. A rare opportunity to own a piece of history.

20. 2026-02-10
    historical
21. 2026-01-19
    listed $155,000 Active
22. 2026-01-14
    listed $155,000 Active 426-char remark

    Show marketing remark (426 chars)

    This charming home is rich with character and timeless appeal. Imagine the stories these walls hold. 1875 circa according to tax records. Offering 2 bedrooms and 1 bath and sits on a large level lot with space to enjoy outdoor living, gardening, etc. The detached building provides additional storage or flexible use. Recent updates include newer windows and a newer water heater. A rare opportunity to own a piece of history.

23. 2026-01-13
    historical $155,000 426-char remark

    Show marketing remark (426 chars)

    This charming home is rich with character and timeless appeal. Imagine the stories these walls hold. 1875 circa according to tax records. Offering 2 bedrooms and 1 bath and sits on a large level lot with space to enjoy outdoor living, gardening, etc. The detached building provides additional storage or flexible use. Recent updates include newer windows and a newer water heater. A rare opportunity to own a piece of history.

24. 2016-07-05
    soldstatus $28,500

ⓘ 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: $395 · $33/mo
• Projected year-2 tax: $1,152 · $96/mo
• Expected delta: +$758/yr (+$63/mo · 191.8%)

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

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 ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $15,904
• − Mortgage interest: −$7,506
• − Property taxes: −$395
• − Insurance: −$670
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$3,898
• Taxable income: $890
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $2,853/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: Simpson County
• NCES district ID: 2105400
• Math proficiency: 29% ▼ -18.00%
• Reading proficiency: 39% ▼ -16.00%
• Median HH income: $41,691
• Composite: 28.69/100
• National rank: #6692
• State rank: #72 of 165 in KY

Livability — Franklin

• Score: 65/100
• State rank: #266
• US rank: #13010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, KY
• County: Simpson County · 19,380 people
• City population: 19,380
• Metro: nan
• Population (ZIP): 19,380
• Household income: $59,113
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 576.0

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 19,331 people
• By 2030: 19,921 · +3.1%
• By 2040: 20,975 · +8.5%
• By 2050: 21,736 · +12.4%
• By 2075: 23,536 · +21.8%
• By 2100: 23,054 · +19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+43.9) · D 27.4% · R 71.2% · Other 1.4%
• 2008→2024 swing: -21.1pp toward R · 2008: -22.7pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+36.7 2016: R+39.0 2012: R+24.1 2008: R+22.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.92%
• Current HPI: 221.6725
• Rent YoY: —
• Metro: nan
• 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

+408.4% since first listed

7 events — show timeline

• 2026-04-03 Price Changed $144,900 RASKMLS
• 2026-02-12 Price Changed $149,900 RASKMLS
• 2026-02-10 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-19 Listed $155,000 REALTRACS as Distributed by MLS Grid
• 2026-01-14 Listed $155,000 RASKMLS
• 2026-01-13 Coming Soon $155,000 RASKMLS
• 2016-07-05 Sold (Public Records) $28,500 Public Records

Property tax history

+16.2%/yr

Latest (2025): $395 · -0.8% YoY. Source: county tax records.