508 E 3rd St · Augusta, KY 41002

$34,500

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 204 Days on market

Built 1950 5,227 sqft lot

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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
• Appreciation +7.2/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Attention Investors ~ this home is a great opportunity for rebuilding using your skills and creativity in turning this home back into what it once was. The home has fire damage in the kitchen and smoke damage throughout. other areas. The current owners decided this was too large of a project for them to take on. The main level has been mostly gutted but needs that talented person(s) to finish the job.

Key facts

• 5,227 sq ft lot
• Listed 204 days

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family house; One and one-half stories
• Construction: Vinyl siding; Stone foundation; Composition roof; Built as an existing structure
• Exterior features: Porch; Partial wood fencing; Outbuilding; Level lot; 42 x 125 lot dimensions; Has view

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Space heater
• Interior features: Eat-in kitchen; Living room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $30k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#378 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, schools D-, amenities F.
• Augusta Independent (rural): math 30% / reading 35% proficiency, ranked #167 of 173 in KY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($239 loan paydown + $2k appreciation (4.3% local appreciation)).
• Bracken County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $34k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 204 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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.
8. 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.
9. 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: 3.15% ✓
• Cap rate: 28.10%
• Cash-on-cash: 77.87%
• DSCR: 4.46
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $175,200
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Chapel Ave	0.05mi	3/1.5	1,236 (+3%)	17mo	$180,000	$146	77
626 E 2nd St	0.29mi	3/1.0	1,142 (-5%)	11mo	$100,000	$88	70
414 E 2nd St	0.17mi	3/2.0	1,090 (-9%)	6mo	$96,000	$88	68
630 E 2nd St	0.31mi	2/1.0 (-1)	1,120 (-7%)	12mo	$166,600	$149	60
504 East 4th St	0.15mi	2/2.0 (-1)	1,373 (+14%)	13mo	$225,000	$164	50
218 E 2nd St	0.35mi	3/1.0	1,348 (+12%)	18mo	$159,000	$118	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 76.8%
• Equity multiple: 5.46×
• Total profit: $43,117
• Equity at exit: $18,203

10-year hold

• IRR: 75.3%
• Equity multiple: 11.31×
• Total profit: $99,627
• Equity at exit: $30,354

Cash invested: $9,660 (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 41002

• Home prices YoY: 1.4%
• Active inventory: 16
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$181
• Tax from tax record: −$37 /mo · $444/yr
• Insurance: −$14
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $571

Break-even live

Break-even rent $364

Max offer price $34,500

Occupancy floor 42%

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: $8,625
• Closing costs: $1,035
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $34,500 Active 204 DOM
2. 2026-06-17
   days on market $34,500 Active 203 DOM
3. 2026-06-16
   days on market $34,500 Active 202 DOM
4. 2026-06-15
   days on market $34,500 Active 201 DOM
5. 2026-06-13
   days on market $34,500 Active 199 DOM
6. 2026-06-12
   days on market $34,500 Active 198 DOM
7. 2026-06-09
   days on market $34,500 Active 195 DOM
8. 2026-06-08
   days on market $34,500 Active 194 DOM
9. 2026-06-07
   days on market $34,500 Active 193 DOM
10. 2026-06-07
    days on market $34,500 Active 192 DOM
11. 2026-06-04
    days on market $34,500 Active 189 DOM
12. 2026-06-02
    days on market $34,500 Active 188 DOM
13. 2026-06-01
    days on market $34,500 Active 187 DOM
14. 2026-05-31
    days on market $34,500 Active 186 DOM
15. 2026-05-31
    days on market $34,500 Active 185 DOM
16. 2026-05-25
    status Active
17. 2026-05-25
    price $34,900
18. 2026-05-13
    historical
19. 2026-05-13
    historical
20. 2025-11-13
    listed $39,500 Active
21. 2025-11-13
    listed $39,500 Active
22. 1991-09-01
    soldstatus $15,000

ⓘ 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: $444 · $37/mo
• Projected year-2 tax: $444 · $37/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 93% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,050
• − Mortgage interest: −$1,933
• − Property taxes: −$444
• − Insurance: −$839
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$1,004
• Taxable income: $6,743
• Est. tax owed @ 24.0%: −$1,618
• After-tax cash flow: $5,237/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: Augusta Independent
• NCES district ID: 2100180
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $34,470
• Composite: 29.52/100
• National rank: #11771
• State rank: #167 of 173 in KY

Livability — Augusta

• Score: 61/100
• State rank: #378
• US rank: #17968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Augusta, KY
• County: Bracken · 8,179 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 2,498
• Household income: $58,292
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1.3

Population outlook (Bracken County) Hauer SSP2

• Today (2025): 8,026 people
• By 2030: 7,751 · -3.4%
• By 2040: 7,054 · -12.1%
• By 2050: 6,246 · -22.2%
• By 2075: 4,453 · -44.5%
• By 2100: 2,941 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Native American 4%
• Common ancestry: Slovak 7% Lithuanian 4% Iranian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Bracken

• 2024 margin: Solid R (+65.0) · D 16.9% · R 82.0% · Other 1.1%
• 2008→2024 swing: -40.8pp toward R · 2008: -24.3pp · 2024: -65.0pp
• All cycles: 2024: R+65.0 2020: R+61.2 2016: R+57.0 2012: R+27.3 2008: R+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.35%
• Current HPI: 307.1107
• 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

+132.7% since first listed

7 events — show timeline

• 2026-05-25 Relisted — NKMLS
• 2026-05-25 Price Changed $34,900 NKMLS
• 2026-05-13 Listing Removed — ImagineMLS
• 2026-05-13 Listing Removed — NKMLS
• 2025-11-13 Listed $39,500 ImagineMLS
• 2025-11-13 Listed $39,500 NKMLS
• 1991-09-01 Sold (Public Records) $15,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $444 · +1.7% YoY. Source: county tax records.