2735 Blackburn Ave · Ashland, KY 41101

$49,000

4 bd · 2.0 ba · 1,664 sqft · SingleFamily · 73 Days on market

Poor condition $29/sqft · 65% below area

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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
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special – Blank Canvas Ready for Transformation! Opportunity is knocking with this fully gutted property, taken down to the studs and ready for your vision to come to life. Whether you're an experienced investor or a buyer looking to customize every detail, this is your chance to create something truly special from the ground up. This spacious layout offers 4 bedrooms, 2 full bathrooms, two separate living areas, and a versatile flex room—perfect for a home office, gym, playroom, or additional bedroom. The footprint is already there—you just bring the design and finishes. With major demo already complete, you can skip the mess and get straight to building value. Ideal for a flip, rental portfolio addition, or custom renovation project. Endless potential. Unlimited possibilities. Your vision starts here.

Key facts

• Listed 73 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $49k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.8% 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: amenities F, commute F, employment 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.
• Zoned schools: Poage Elementary School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 299 students, 64% FRL); Ashland Middle School (math 29% / reading 45%, grade F, #80 of 217 statewide, top 41%, 687 students, 63% FRL); Paul G. Blazer High School (math 27% / reading 42%, grade F, #76 of 254 statewide, top 34%, 893 students, 54% FRL).
• 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 $339 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $26k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $46,060 (6.0% 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 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.40% ✓
• Cap rate: 20.78%
• Cash-on-cash: 51.75%
• DSCR: 3.30
• GRM: 3.5

CMA / ARV

• ARV (median comp): $138,740
• List price: $49,000
• Delta: -64.68%
• 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
2505 S 29th Street St	0.13mi	3/2.5 (-1)	1,710 (+3%)	4mo	$132,000	$77	79
2809 29th St	0.19mi	4/1.5	1,582 (-5%)	3mo	$84,800	$54	79
2422 Carroll Street St	0.24mi	3/1.5 (-1)	1,585 (-5%)	5mo	$165,000	$104	69
2101 Blackburn Ave	0.40mi	3/2.0 (-1)	1,760 (+6%)	5mo	$132,000	$75	62
1626 Elliott Avenue Ave	0.68mi	3/2.0 (-1)	1,644 (-1%)	1mo	$187,000	$114	61
3717 Blackburn Avenue Ave	0.67mi	4/2.0	1,778 (+7%)	0mo	$212,500	$120	57
3228 Hackworth St	0.66mi	3/2.0 (-1)	1,588 (-5%)	1mo	$96,000	$60	55
2403 Suzanne Court Ct	0.58mi	3/2.0 (-1)	1,781 (+7%)	1mo	$185,000	$104	55
3221 Hackworth St	0.66mi	3/1.5 (-1)	1,600 (-4%)	4mo	$65,000	$41	52
1800 Pike Street St	0.67mi	3/2.0 (-1)	1,784 (+7%)	2mo	$190,000	$107	50
2224 Moore St	0.47mi	5/3.0 (+1)	1,873 (+13%)	2mo	$180,000	$96	47
2313 Woodland Avenue Ave	0.70mi	3/1.5 (-1)	1,462 (-12%)	1mo	$110,000	$75	40

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: 49.7%
• Equity multiple: 3.17×
• Total profit: $29,762
• Equity at exit: $7,306

10-year hold

• IRR: 55.2%
• Equity multiple: 6.43×
• Total profit: $74,513
• Equity at exit: $4,237

Cash invested: $13,720 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $592

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 45%

Sensitivity live

Price	-10% $626	-5% $609	+0% $592	+5% $575	+10% $558
Rent	-10% $499	-5% $545	+0% $592	+5% $638	+10% $685
Rate	-1.0pp $616	-0.5pp $604	base $592	+0.5pp $579	+1.0pp $566

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $49,000 Active 73 DOM
2. 2026-06-21
   days on market $49,000 Active 72 DOM
3. 2026-06-18
   days on market $49,000 Active 70 DOM
4. 2026-06-17
   days on market $49,000 Active 69 DOM
5. 2026-06-16
   days on market $49,000 Active 68 DOM
6. 2026-06-15
   days on market $49,000 Active 67 DOM
7. 2026-06-13
   days on market $49,000 Active 65 DOM
8. 2026-06-12
   days on market $49,000 Active 64 DOM
9. 2026-06-09
   days on market $49,000 Active 61 DOM
10. 2026-06-08
    days on market $49,000 Active 60 DOM
11. 2026-06-07
    days on market $49,000 Active 59 DOM
12. 2026-06-07
    days on market $49,000 Active 58 DOM
13. 2026-06-04
    days on market $49,000 Active 55 DOM
14. 2026-06-02
    days on market $49,000 Active 54 DOM
15. 2026-06-01
    days on market $49,000 Active 53 DOM
16. 2026-05-31
    days on market $49,000 Active 52 DOM
17. 2026-05-31
    days on market $49,000 Active 51 DOM
18. 2026-05-04
    price $49,000 842-char remark

    Show marketing remark (842 chars)

    Investor Special – Blank Canvas Ready for Transformation! Opportunity is knocking with this fully gutted property, taken down to the studs and ready for your vision to come to life. Whether you're an experienced investor or a buyer looking to customize every detail, this is your chance to create something truly special from the ground up. This spacious layout offers 4 bedrooms, 2 full bathrooms, two separate living areas, and a versatile flex room—perfect for a home office, gym, playroom, or additional bedroom. The footprint is already there—you just bring the design and finishes. With major demo already complete, you can skip the mess and get straight to building value. Ideal for a flip, rental portfolio addition, or custom renovation project. Endless potential. Unlimited possibilities. Your vision starts here.

19. 2026-04-09
    listed $74,999 Active 842-char remark

    Show marketing remark (842 chars)

    Investor Special – Blank Canvas Ready for Transformation! Opportunity is knocking with this fully gutted property, taken down to the studs and ready for your vision to come to life. Whether you're an experienced investor or a buyer looking to customize every detail, this is your chance to create something truly special from the ground up. This spacious layout offers 4 bedrooms, 2 full bathrooms, two separate living areas, and a versatile flex room—perfect for a home office, gym, playroom, or additional bedroom. The footprint is already there—you just bring the design and finishes. With major demo already complete, you can skip the mess and get straight to building value. Ideal for a flip, rental portfolio addition, or custom renovation project. Endless potential. Unlimited possibilities. Your vision starts here.

20. 2024-03-29
    soldstatus $75,000 Closed 1000-char remark

    Show marketing remark (1000 chars)

    Check out this 2 story home situated on 3 lots that has a TON of potential! This home features a nice front porch, incredibly spacious rooms, a huge back yard that could become a beautiful outdoor space, and you will find original hardwood floors all throughout the house. All you have to do is tear up the carpet that is left! The roof and hot water heater are approximately 2 years old. The heating and air, plumbing, and electrical systems have all had updates! That isn't all! Right next door included with this property, you will find a 1 bedroom, 1 bath house that has an oversized living room, kitchen, dining room, and a 2 car garage bay below! This house has original oak hardwood floors throughout. This property would be great for a single family home with a guest house or an awesome income producing property. All it needs is a little hard work and attention to detail. Seller will pay up to $5000 of buyers closing costs. Don't miss out on this opportunity, schedule your showing today!

21. 2024-03-27
    status Pending 1000-char remark

    Show marketing remark (1000 chars)

    Check out this 2 story home situated on 3 lots that has a TON of potential! This home features a nice front porch, incredibly spacious rooms, a huge back yard that could become a beautiful outdoor space, and you will find original hardwood floors all throughout the house. All you have to do is tear up the carpet that is left! The roof and hot water heater are approximately 2 years old. The heating and air, plumbing, and electrical systems have all had updates! That isn't all! Right next door included with this property, you will find a 1 bedroom, 1 bath house that has an oversized living room, kitchen, dining room, and a 2 car garage bay below! This house has original oak hardwood floors throughout. This property would be great for a single family home with a guest house or an awesome income producing property. All it needs is a little hard work and attention to detail. Seller will pay up to $5000 of buyers closing costs. Don't miss out on this opportunity, schedule your showing today!

22. 2024-03-01
    status Active Under Contract 1000-char remark

    Show marketing remark (1000 chars)

    Check out this 2 story home situated on 3 lots that has a TON of potential! This home features a nice front porch, incredibly spacious rooms, a huge back yard that could become a beautiful outdoor space, and you will find original hardwood floors all throughout the house. All you have to do is tear up the carpet that is left! The roof and hot water heater are approximately 2 years old. The heating and air, plumbing, and electrical systems have all had updates! That isn't all! Right next door included with this property, you will find a 1 bedroom, 1 bath house that has an oversized living room, kitchen, dining room, and a 2 car garage bay below! This house has original oak hardwood floors throughout. This property would be great for a single family home with a guest house or an awesome income producing property. All it needs is a little hard work and attention to detail. Seller will pay up to $5000 of buyers closing costs. Don't miss out on this opportunity, schedule your showing today!

23. 2023-12-18
    historical Active Under Contract 1000-char remark

    Show marketing remark (1000 chars)

    Check out this 2 story home situated on 3 lots that has a TON of potential! This home features a nice front porch, incredibly spacious rooms, a huge back yard that could become a beautiful outdoor space, and you will find original hardwood floors all throughout the house. All you have to do is tear up the carpet that is left! The roof and hot water heater are approximately 2 years old. The heating and air, plumbing, and electrical systems have all had updates! That isn't all! Right next door included with this property, you will find a 1 bedroom, 1 bath house that has an oversized living room, kitchen, dining room, and a 2 car garage bay below! This house has original oak hardwood floors throughout. This property would be great for a single family home with a guest house or an awesome income producing property. All it needs is a little hard work and attention to detail. Seller will pay up to $5000 of buyers closing costs. Don't miss out on this opportunity, schedule your showing today!

24. 2023-10-06
    price $119,000 1000-char remark

    Show marketing remark (1000 chars)

    Check out this 2 story home situated on 3 lots that has a TON of potential! This home features a nice front porch, incredibly spacious rooms, a huge back yard that could become a beautiful outdoor space, and you will find original hardwood floors all throughout the house. All you have to do is tear up the carpet that is left! The roof and hot water heater are approximately 2 years old. The heating and air, plumbing, and electrical systems have all had updates! That isn't all! Right next door included with this property, you will find a 1 bedroom, 1 bath house that has an oversized living room, kitchen, dining room, and a 2 car garage bay below! This house has original oak hardwood floors throughout. This property would be great for a single family home with a guest house or an awesome income producing property. All it needs is a little hard work and attention to detail. Seller will pay up to $5000 of buyers closing costs. Don't miss out on this opportunity, schedule your showing today!

25. 2023-09-06
    listed $139,000 Active 1000-char remark

    Show marketing remark (1000 chars)

    Check out this 2 story home situated on 3 lots that has a TON of potential! This home features a nice front porch, incredibly spacious rooms, a huge back yard that could become a beautiful outdoor space, and you will find original hardwood floors all throughout the house. All you have to do is tear up the carpet that is left! The roof and hot water heater are approximately 2 years old. The heating and air, plumbing, and electrical systems have all had updates! That isn't all! Right next door included with this property, you will find a 1 bedroom, 1 bath house that has an oversized living room, kitchen, dining room, and a 2 car garage bay below! This house has original oak hardwood floors throughout. This property would be great for a single family home with a guest house or an awesome income producing property. All it needs is a little hard work and attention to detail. Seller will pay up to $5000 of buyers closing costs. Don't miss out on this opportunity, schedule your showing today!

26. 2023-06-29
    price $150,000
27. 2023-05-30
    price $160,000
28. 2023-05-19
    price $190,000
29. 2023-05-02
    listed $200,000 Active

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $14,131
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$1,425
• Taxable income: $6,720
• Est. tax owed @ 24.0%: −$1,613
• After-tax cash flow: $5,487/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.

Condition & rehab AI · 13 photos

Poor 20/100 Gut rehab

This fully gutted property requires extensive repairs and updates to become move-in ready. The exterior and interior are in poor condition, and the property is ready for a complete transformation.

Repairs flagged

• Major Exterior siding — Exposed brick and peeling paint
• Major Interior drywall — Exposed studs and missing drywall
• Major Flooring — Exposed subfloor

Value-add opportunities

• Both Exterior siding and paint — Improves curb appeal and value
• Both Interior drywall and flooring — Creates a livable space and enhances value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Exposed brick and peeling paint	Major	$15,000–50,000
Interior drywall · Exposed studs and missing drywall	Major	$15,000–50,000
Flooring · Exposed subfloor	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Exterior siding and paint — Improves curb appeal and value ↑
• Both Interior drywall and flooring — Creates a livable space and enhances value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-75.5% since first listed

12 events — show timeline

• 2026-05-04 Price Changed $49,000 AABOR
• 2026-04-09 Listed $74,999 AABOR
• 2024-03-29 Sold (MLS) $75,000 AABOR
• 2024-03-27 Pending — AABOR
• 2024-03-01 Relisted — AABOR
• 2023-12-18 Contingent — AABOR
• 2023-10-06 Price Changed $119,000 AABOR
• 2023-09-06 Listed $139,000 AABOR
• 2023-06-29 Price Changed $150,000 AABOR
• 2023-05-30 Price Changed $160,000 AABOR
• 2023-05-19 Price Changed $190,000 AABOR
• 2023-05-02 Listed $200,000 AABOR