224 S Spring St · Madisonville, KY 42431

$87,500

1 bd · 1.0 ba · 598 sqft · SingleFamily public records · 73 Days on market

4,792 sqft lot

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Why this score? — see what drove the D 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 +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Need a little place? Here's a true 1 bedroom house. 600 sq ft with living room, kitchen, bath, and bedroom. Has a fully covered back deck. Small flat yard and shared driveway. Text or call me at 270-871-9954 to see!!

Key facts

• Vinyl flooring
• Fresh paint
• Landscaping

Tags

• VINYL SIDING
• LANDSCAPING
• FRESH PAINT
• VINYL FLOORING
• NEW HOT WATER HEATER
• NEW WATER LINES

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (residential); Single story
• Construction: Vinyl siding; Composition roof
• Exterior features: Deck; Wood fencing; .11-acre lot; Shed(s)

Interior

• Kitchen: Range; Gas range; Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heat pump (heating)
• Interior features: Living room fireplace
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $34 ($404/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 $81k (7.6% below list).
• Recommended offer: $81k (7.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.0% in Madisonville — 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 72/100 on livability (#132 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Hopkins County (town): math 27% / reading 43% proficiency, ranked #65 of 165 in KY (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Broadway Elementary School (math 37% / reading 47%, grade F, #178 of 676 statewide, top 29%, 358 students, 60% FRL); Browning Springs Middle School (math 18% / reading 40%, grade F, #156 of 217 statewide, top 74%, 499 students, 63% FRL); Madisonville North Hopkins High School (math 30% / reading 38%, grade F, #89 of 254 statewide, top 36%, 1,189 students, 46% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 193 active listings in the ZIP; 122 units permitted in Hopkins County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hopkins County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago 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 $48k; list at $88k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $80,808 (7.6% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 8% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 9.0

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-12,021
• Equity at exit: $13,047

10-year hold

• IRR: -4.8%
• Equity multiple: 0.69×
• Total profit: $-7,655
• Equity at exit: $7,565

Cash invested: $24,500 (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 42431

• Home prices YoY: -15.2%
• Active inventory: 193
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $808 medium
• Mortgage (P&I): −$459
• Tax est. 1.5%: −$109 /mo · $1,312/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $34

Break-even live

Break-even rent $765

Max offer price $87,500

Occupancy floor 91%

Sensitivity live

Price	-10% $94	-5% $64	+0% $34	+5% $3	+10% $-27
Rent	-10% $-30	-5% $2	+0% $34	+5% $66	+10% $98
Rate	-1.0pp $78	-0.5pp $56	base $34	+0.5pp $11	+1.0pp $-12

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $87,500 Active 73 DOM
2. 2026-06-21
   days on market $87,500 Active 72 DOM
3. 2026-06-18
   days on market $87,500 Active 70 DOM
4. 2026-06-17
   days on market $87,500 Active 69 DOM
5. 2026-06-16
   days on market $87,500 Active 68 DOM
6. 2026-06-15
   days on market $87,500 Active 67 DOM
7. 2026-06-13
   days on market $87,500 Active 65 DOM
8. 2026-06-12
   days on market $87,500 Active 64 DOM
9. 2026-06-09
   days on market $87,500 Active 61 DOM
10. 2026-06-08
    days on market $87,500 Active 60 DOM
11. 2026-06-07
    days on market $87,500 Active 59 DOM
12. 2026-06-07
    days on market $87,500 Active 58 DOM
13. 2026-06-04
    days on market $87,500 Active 55 DOM
14. 2026-06-02
    days on market $87,500 Active 54 DOM
15. 2026-06-01
    days on market $87,500 Active 53 DOM
16. 2026-05-31
    days on market $87,500 Active 52 DOM
17. 2026-05-31
    days on market $87,500 Active 51 DOM
18. 2026-04-09
    listed $87,500 Active
19. 2026-01-01
    price $87,500
20. 2025-10-20
    listed $89,900 Active
21. 2023-08-07
    soldstatus $47,900
22. 2023-08-04
    soldstatus $47,900 Closed 216-char remark

    Show marketing remark (216 chars)

    Need a little place? Here's a true 1 bedroom house. 600 sq ft with living room, kitchen, bath, and bedroom. Has a fully covered back deck. Small flat yard and shared driveway. Text or call me at 270-871-9954 to see!!

23. 2023-07-07
    status Pending 216-char remark

    Show marketing remark (216 chars)

    Need a little place? Here's a true 1 bedroom house. 600 sq ft with living room, kitchen, bath, and bedroom. Has a fully covered back deck. Small flat yard and shared driveway. Text or call me at 270-871-9954 to see!!

24. 2023-06-27
    status Active 216-char remark

    Show marketing remark (216 chars)

    Need a little place? Here's a true 1 bedroom house. 600 sq ft with living room, kitchen, bath, and bedroom. Has a fully covered back deck. Small flat yard and shared driveway. Text or call me at 270-871-9954 to see!!

25. 2023-06-26
    status Pending 216-char remark

    Show marketing remark (216 chars)

    Need a little place? Here's a true 1 bedroom house. 600 sq ft with living room, kitchen, bath, and bedroom. Has a fully covered back deck. Small flat yard and shared driveway. Text or call me at 270-871-9954 to see!!

26. 2023-06-23
    listed $49,900 Active 216-char remark

    Show marketing remark (216 chars)

    Need a little place? Here's a true 1 bedroom house. 600 sq ft with living room, kitchen, bath, and bedroom. Has a fully covered back deck. Small flat yard and shared driveway. Text or call me at 270-871-9954 to see!!

27. 2005-07-07
    soldstatus $60,000
28. 1995-09-01
    soldstatus $8,000
29. 1984-05-01
    soldstatus $13,000

ⓘ 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 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,697
• − Mortgage interest: −$4,901
• − Property taxes: −$1,312
• − Insurance: −$438
• − Repairs & maintenance: −$776
• − Management: −$776
• − Depreciation: −$2,545
• Taxable loss: −$1,051
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $657/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: Hopkins County
• NCES district ID: 2102860
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 43% ▼ -17.00%
• Median HH income: $42,436
• Composite: 29.56/100
• National rank: #6488
• State rank: #65 of 165 in KY

Livability — Madisonville

• Score: 72/100
• State rank: #132
• US rank: #6200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madisonville, KY
• City population: 27,095
• Population (ZIP): 27,095

Population outlook (Hopkins County) Hauer SSP2

• Today (2025): 45,164 people
• By 2030: 44,083 · -2.4%
• By 2040: 41,650 · -7.8%
• By 2050: 39,303 · -13.0%
• By 2075: 34,567 · -23.5%
• By 2100: 29,476 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 3% Native American 1%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Hopkins

• 2024 margin: Solid R (+50.9) · D 23.9% · R 74.8% · Other 1.2%
• 2008→2024 swing: -26.0pp toward R · 2008: -24.9pp · 2024: -50.9pp
• All cycles: 2024: R+50.9 2020: R+48.0 2016: R+54.0 2012: R+39.9 2008: R+24.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.52%
• Current HPI: 220.2269
• 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

+573.1% since first listed

12 events — show timeline

• 2026-04-09 Listed $87,500 MHCBOR
• 2026-01-01 Price Changed $87,500 MHCBOR
• 2025-10-20 Listed $89,900 MHCBOR
• 2023-08-07 Sold (Public Records) $47,900 Public Records
• 2023-08-04 Sold (MLS) $47,900 MHCBOR
• 2023-07-07 Pending — MHCBOR
• 2023-06-27 Relisted — MHCBOR
• 2023-06-26 Pending — MHCBOR
• 2023-06-23 Listed $49,900 MHCBOR
• 2005-07-07 Sold (Public Records) $60,000 Public Records
• 1995-09-01 Sold (Public Records) $8,000 Public Records
• 1984-05-01 Sold (Public Records) $13,000 Public Records

Property tax history

-26.2%/yr

Latest (2024): $15 · -94.6% YoY. Source: county tax records.