107 S Alves St · Henderson, KY 42420

$225,000

8 bd · 2.0 ba · 1,508 sqft · MultiFamily public records · 42 Days on market

0.68 ac lot ↓ 34% since listing

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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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

INVESTMENT OPPORTUNITY WITH CHARACTER & CASH FLOW POTENTIAL! Unique Duplex located in the heart of Henderson offering immediate income potential with additional upside opportunity. Property features attractive architectural character, multiple covered porch areas, mature shade trees, off-street parking, and a highly desirable in-town location. Rare opportunity to own a multi-family property with charm, presence, and value-add potential all in one package. Whether you're looking to expand your investment portfolio or step into multi-family ownership, this property deserves a look! Offered at $225,000.

Key facts

• 0.68 acre lot
• Listed 42 days

Property features AI

Finance

• Financial info: One unit currently rented for $650 (2-bedroom unit)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Brick construction; Shingle roof
• Construction: Brick exterior
• Exterior features: Front porch

Interior

• Bedrooms: One unit with 5 bedrooms; One unit with 2 bedrooms
• Bathrooms: One unit with 2 bathrooms; One unit with 1 bathroom
• Heating & cooling: Central air conditioning
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive. Per door: $151/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (6.2% below list).
• Recommended offer: $211k (6.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#114 in KY, #4,949 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Henderson County (suburban): math 40% / reading 41% proficiency, ranked #29 of 165 in KY (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 228 active listings in the ZIP; 92 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Henderson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

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 $211,100 (6.2% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.94% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• GRM: 8.9

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-17,335
• Equity at exit: $33,548

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $9,298
• Equity at exit: $19,454

Cash invested: $63,000 (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 42420

• Home prices YoY: -31.6%
• Active inventory: 228
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $2,111 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$92 /mo · $1,109/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $302

Break-even live

Break-even rent $1,729

Max offer price $225,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$2,110
Total (2 units)			$2,111

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $225,000 Active 42 DOM
2. 2026-06-17
   days on market $225,000 Active 41 DOM
3. 2026-06-16
   days on market $225,000 Active 40 DOM
4. 2026-06-15
   days on market $225,000 Active 39 DOM
5. 2026-06-14
   days on market $225,000 Active 37 DOM
6. 2026-06-13
   days on market $225,000 Active 36 DOM
7. 2026-06-10
   days on market $225,000 Active 34 DOM
8. 2026-06-09
   days on market $225,000 Active 33 DOM
9. 2026-06-08
   days on market $225,000 Active 32 DOM
10. 2026-06-07
    days on market $225,000 Active 31 DOM
11. 2026-06-05
    days on market $225,000 Active 28 DOM
12. 2026-06-02
    days on market $225,000 Active 26 DOM
13. 2026-06-01
    days on market $225,000 Active 25 DOM
14. 2026-05-31
    days on market $225,000 Active 24 DOM
15. 2026-05-30
    days on market $225,000 Active 23 DOM
16. 2026-05-07
    listed $225,000 Active 613-char remark
17. 2024-03-08
    soldstatus $341,333

ⓘ 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: $1,109 · $92/mo
• Projected year-2 tax: $1,935 · $161/mo
• Expected delta: +$826/yr (+$69/mo · 74.5%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $25,332
• − Mortgage interest: −$12,603
• − Property taxes: −$1,109
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − Depreciation: −$6,545
• Taxable loss: −$104
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $3,644/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: Henderson County
• NCES district ID: 2102710
• Math proficiency: 40% ▼ -19.00%
• Reading proficiency: 41% ▼ -16.00%
• Median HH income: $41,772
• Composite: 34.13/100
• National rank: #5285
• State rank: #29 of 165 in KY

Livability — Henderson

• Score: 74/100
• State rank: #114
• US rank: #4949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henderson, KY
• Population (ZIP): 38,434

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 46,910 people
• By 2030: 46,841 · -0.1%
• By 2040: 46,018 · -1.9%
• By 2050: 44,390 · -5.4%
• By 2075: 40,442 · -13.8%
• By 2100: 33,538 · -28.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Henderson

• 2024 margin: Strong R (+29.2) · D 34.7% · R 64.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: 2.6pp · 2024: -29.2pp
• All cycles: 2024: R+29.2 2020: R+24.6 2016: R+27.7 2012: R+11.8 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.69%
• Current HPI: 207.5676
• 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

-34.1% since first listed

2 events — show timeline

• 2026-05-07 Listed $225,000 HABOR
• 2024-03-08 Sold (Public Records) $341,333 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,109 · +16.6% YoY. Source: county tax records.