3409 S 29th St · Ashland, KY 41101

$110,000

3 bd · 1.5 ba · 1,568 sqft · SingleFamily public records · 68 Days on market

6,000 sqft lot $70/sqft · 36% below area Est $172k · 36% under

---

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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +5.6/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors or buyers looking to build equity! This fixer-upper offers 4 bedrooms and 2 full bathrooms, with the potential for a 5th bedroom. The home features off-street parking with multiple spaces available in the rear. With a little vision and TLC, this property could truly shine!

Key facts

• Off-street parking
• 6,000 sq ft lot
• Listed 68 days

Tags

• OFF-STREET PARKING
• MULTIPLE SPACES AVAILABLE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.1% in Ashland — 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 64/100 on livability (#304 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Ashland Independent (urban): math 32% / reading 44% proficiency, ranked #49 of 165 in KY (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 107 active listings in the ZIP; 2 units permitted in Boyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Boyd County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $110k implies a 152% gain — meaningful room to come down on a strong offer.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

• ARV (median comp): $172,218
• List price: $110,000
• Delta: -36.13%
• 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
2422 Carroll Street St	0.43mi	3/1.5	1,585 (+1%)	5mo	$165,000	$104	74
2809 29th St	0.38mi	4/1.5 (+1)	1,582 (+1%)	3mo	$84,800	$54	74
1626 Elliott Avenue Ave	0.48mi	3/2.0	1,644 (+5%)	1mo	$187,000	$114	67
3209 Floyd Street St	0.28mi	3/2.0	1,458 (-7%)	8mo	$267,000	$183	67
1400 Maxwell Street St	0.60mi	3/1.5	1,491 (-5%)	1mo	$145,000	$97	63
2521 Oaklawn Court Ct	0.54mi	4/2.0 (+1)	1,566 (-0%)	9mo	$202,000	$129	60
2720 Bruce Dr	0.53mi	4/2.0 (+1)	1,582 (+1%)	8mo	$155,900	$99	60
1800 Pike Street St	0.36mi	3/2.0	1,784 (+14%)	2mo	$190,000	$107	57
2505 S 29th Street St	0.49mi	3/2.5	1,710 (+9%)	4mo	$132,000	$77	55
1641 Lawrence Ave	0.42mi	3/1.0	1,354 (-14%)	1mo	$159,000	$117	54
2101 Blackburn Ave	0.58mi	3/2.0	1,760 (+12%)	5mo	$132,000	$75	46
2333 Griffith Street St	0.60mi	4/1.0 (+1)	1,456 (-7%)	8mo	$93,000	$64	46

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,849
• Equity at exit: $16,401

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $18,853
• Equity at exit: $9,511

Cash invested: $30,800 (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 41101

• Active inventory: 107
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,164 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$45 /mo · $544/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $251

Break-even live

Break-even rent $846

Max offer price $110,000

Occupancy floor 73%

Sensitivity live

Price	-10% $314	-5% $283	+0% $251	+5% $220	+10% $189
Rent	-10% $160	-5% $205	+0% $251	+5% $297	+10% $343
Rate	-1.0pp $307	-0.5pp $279	base $251	+0.5pp $223	+1.0pp $194

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $110,000 Active 68 DOM
2. 2026-06-18
   days on market $110,000 Active 66 DOM
3. 2026-06-17
   days on market $110,000 Active 65 DOM
4. 2026-06-16
   days on market $110,000 Active 64 DOM
5. 2026-06-15
   days on market $110,000 Active 63 DOM
6. 2026-06-13
   days on market $110,000 Active 61 DOM
7. 2026-06-12
   days on market $110,000 Active 60 DOM
8. 2026-06-09
   days on market $110,000 Active 57 DOM
9. 2026-06-08
   days on market $110,000 Active 56 DOM
10. 2026-06-07
    days on market $110,000 Active 55 DOM
11. 2026-06-07
    days on market $110,000 Active 54 DOM
12. 2026-06-04
    days on market $110,000 Active 51 DOM
13. 2026-06-02
    days on market $110,000 Active 50 DOM
14. 2026-06-01
    days on market $110,000 Active 49 DOM
15. 2026-05-31
    days on market $110,000 Active 48 DOM
16. 2026-05-31
    days on market $110,000 Active 47 DOM
17. 2026-04-13
    listed $110,000 Active 305-char remark

    Show marketing remark (305 chars)

    Great opportunity for investors or buyers looking to build equity! This fixer-upper offers 4 bedrooms and 2 full bathrooms, with the potential for a 5th bedroom. The home features off-street parking with multiple spaces available in the rear. With a little vision and TLC, this property could truly shine!

18. 1998-08-14
    soldstatus $43,600

ⓘ 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: $544 · $45/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$402/yr (+$34/mo · 74.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,966
• − Mortgage interest: −$6,162
• − Property taxes: −$544
• − Insurance: −$550
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$3,200
• Taxable income: $1,276
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $2,711/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: Ashland Independent
• NCES district ID: 2100150
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $36,579
• Composite: 31.51/100
• National rank: #5971
• State rank: #49 of 165 in KY

Livability — Ashland

• Score: 64/100
• State rank: #304
• US rank: #14462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, KY
• City population: 19,331
• Population (ZIP): 19,331

Population outlook (Boyd County) Hauer SSP2

• Today (2025): 46,137 people
• By 2030: 44,585 · -3.4%
• By 2040: 41,442 · -10.2%
• By 2050: 38,313 · -17.0%
• By 2075: 31,077 · -32.6%
• By 2100: 23,432 · -49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Boyd

• 2024 margin: Solid R (+38.5) · D 30.0% · R 68.6% · Other 1.4%
• 2008→2024 swing: -26.2pp toward R · 2008: -12.3pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+33.2 2016: R+37.0 2012: R+16.3 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.83%
• Current HPI: 148.0076
• 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

+152.3% since first listed

2 events — show timeline

• 2026-04-13 Listed $110,000 AABOR
• 1998-08-14 Sold (Public Records) $43,600 Public Records

Property tax history

+1.2%/yr

Latest (2025): $544 · -1.2% YoY. Source: county tax records.