402 E Locust St · Princeton, KY 42445

$90,000

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 80 Days on market

Built 1984 Est $109k · 18% under

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.2/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bed, 1-Bath Starter Home Nestled near local shops, schools and dining . This freshly painted, with interior updates , also new Refrigerator and stove 3-bedroom, 1-bath home offers 925 sq ft of comfortable, move-in-ready living. Thoughtful updates have been completed to give the home a clean, modern feel while preserving its affordability and potential. Bright living room, functional eat-in kitchen, and a practical floorplan. Home sold AS IS.

Key facts

• Built 1984
• Listed 80 days

Property features AI

Exterior

• Parking: No covered spaces reported; No total parking spaces reported
• Utilities: Water available; Public water; Public sewer
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding
• Exterior features: Public water available; Public sewer

Interior

• Kitchen: Electric oven, Electric range, Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Electric oven; Electric range; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 6.2% in Princeton — 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 (#88 in KY, #3,490 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment D+, commute F.
• Caldwell County (rural): math 28% / reading 39% proficiency, ranked #78 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caldwell County Primary School (523 students, 64% FRL); Caldwell County High School (math 32% / reading 37%, grade F, #76 of 254 statewide, top 34%, 544 students, 43% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 58 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Caldwell County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $35k; list at $90k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.22% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $109,150
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 White St	0.38mi	2/1.0 (-1)	990 (+7%)	14mo	$116,600	$118	54
376 Sandlick Rd	0.62mi	3/1.0	960 (+4%)	14mo	$130,000	$135	53
521 N Plum St Unit 1/2	0.60mi	3/1.0	960 (+4%)	15mo	$124,000	$129	53
212 Grace St	0.40mi	2/1.0 (-1)	1,020 (+10%)	9mo	$125,000	$123	52
108 Ratliff St	0.62mi	2/1.0 (-1)	914 (-1%)	18mo	$68,000	$74	49
510 E Main St	0.19mi	3/1.0	1,056 (+14%)	22mo	$125,000	$118	49
509 S Seminary St	0.68mi	3/1.0	1,050 (+14%)	1mo	$120,000	$114	45
400 Maple Ave	0.56mi	2/1.0 (-1)	840 (-9%)	11mo	$90,000	$107	44
204 Ratliff St	0.68mi	3/1.0	1,062 (+15%)	3mo	$103,000	$97	41

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,055
• Equity at exit: $13,419

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $21,103
• Equity at exit: $7,782

Cash invested: $25,200 (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 42445

• Home prices YoY: -7.9%
• Active inventory: 58
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $245

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 73%

Sensitivity live

Price	-10% $307	-5% $276	+0% $245	+5% $214	+10% $183
Rent	-10% $159	-5% $202	+0% $245	+5% $289	+10% $332
Rate	-1.0pp $291	-0.5pp $268	base $245	+0.5pp $222	+1.0pp $198

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $90,000 Active 80 DOM
2. 2026-06-18
   days on market $90,000 Active 78 DOM
3. 2026-06-17
   days on market $90,000 Active 77 DOM
4. 2026-06-16
   days on market $90,000 Active 76 DOM
5. 2026-06-15
   days on market $90,000 Active 75 DOM
6. 2026-06-13
   days on market $90,000 Active 73 DOM
7. 2026-06-12
   days on market $90,000 Active 72 DOM
8. 2026-06-09
   days on market $90,000 Active 69 DOM
9. 2026-06-08
   days on market $90,000 Active 68 DOM
10. 2026-06-07
    days on market $90,000 Active 67 DOM
11. 2026-06-07
    days on market $90,000 Active 66 DOM
12. 2026-06-04
    days on market $90,000 Active 63 DOM
13. 2026-06-02
    days on market $90,000 Active 62 DOM
14. 2026-06-01
    days on market $90,000 Active 61 DOM
15. 2026-05-31
    days on market $90,000 Active 60 DOM
16. 2026-05-31
    days on market $90,000 Active 59 DOM
17. 2026-05-16
    status Active
18. 2026-05-13
    historical Active Under Contract
19. 2026-04-09
    status Active
20. 2026-04-05
    historical Active Under Contract
21. 2026-04-01
    listed $90,000 Active
22. 2026-03-31
    historical $90,000
23. 2025-11-07
    price $99,900
24. 2025-10-07
    listed $105,000 Active
25. 1997-07-01
    soldstatus $35,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $13,174
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$2,618
• Taxable income: $1,606
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $2,558/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: Caldwell County
• NCES district ID: 2100840
• Math proficiency: 28% ▼ -29.00%
• Reading proficiency: 39% ▼ -19.00%
• Median HH income: $40,080
• Composite: 28.12/100
• National rank: #6819
• State rank: #78 of 165 in KY

Livability — Princeton

• Score: 76/100
• State rank: #88
• US rank: #3490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, KY
• Population (ZIP): 10,371

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 12,100 people
• By 2030: 11,739 · -3.0%
• By 2040: 11,088 · -8.4%
• By 2050: 10,543 · -12.9%
• By 2075: 9,406 · -22.3%
• By 2100: 8,084 · -33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Italian 3% Serbian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Caldwell

• 2024 margin: Solid R (+58.2) · D 20.3% · R 78.5% · Other 1.2%
• 2008→2024 swing: -31.6pp toward R · 2008: -26.7pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+54.0 2016: R+54.4 2012: R+35.0 2008: R+26.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.07%
• Current HPI: 232.7067
• 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

+157.1% since first listed

9 events — show timeline

• 2026-05-16 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-05-13 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-04-09 Relisted — REALTRACS as Distributed by MLS Grid
• 2026-04-05 Contingent — REALTRACS as Distributed by MLS Grid
• 2026-04-01 Listed $90,000 REALTRACS as Distributed by MLS Grid
• 2026-03-31 Coming Soon $90,000 REALTRACS as Distributed by MLS Grid
• 2025-11-07 Price Changed $99,900 WKRMLS
• 2025-10-07 Listed $105,000 WKRMLS
• 1997-07-01 Sold (Public Records) $35,000 Public Records

Property tax history

-3.1%/yr

Latest (2025): $175 · -48.8% YoY. Source: county tax records.