10765 Ky-698 · McKinney, KY 40437

$150,000

4 bd · 2.0 ba · 2,256 sqft · MultiFamily · 431 Days on market

Fair condition 9,583 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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +4.8/10.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Livability +2.2/5.0
• Condition / age +2.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

Key facts

• 9,583 sq ft lot
• 10 parking spots
• Listed 430 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive. Per door: $261/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 45/100 on livability (#518 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Lincoln County (rural): math 20% / reading 35% proficiency, ranked #131 of 165 in KY (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 27 active listings in the ZIP; 91 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $514 of equity ($1k loan paydown + $-523 appreciation (-0.3% local appreciation)).
• Lincoln County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 431 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 431 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 1.32% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.94%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.63×
• Total profit: $26,503
• Equity at exit: $40,961

10-year hold

• IRR: 18.5%
• Equity multiple: 2.98×
• Total profit: $83,045
• Equity at exit: $47,211

Cash invested: $42,000 (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 40437

• Home prices YoY: -0.1%
• Active inventory: 27
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,974 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $523

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,974
Total (2 units)			$1,974

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $150,000 Active 431 DOM
2. 2026-06-18
   days on market $150,000 Active 430 DOM
3. 2026-06-17
   days on market $150,000 Active 429 DOM
4. 2026-05-31
   days on market $150,000 Active 428 DOM
5. 2026-05-30
   days on market $150,000 Active 427 DOM
6. 2025-09-02
   price $150,000 221-char remark

   Show marketing remark (221 chars)

   Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

7. 2025-07-16
   status Active 221-char remark

   Show marketing remark (221 chars)

   Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

8. 2025-07-01
   historical 221-char remark

   Show marketing remark (221 chars)

   Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

9. 2025-06-11
   price $170,000 221-char remark

   Show marketing remark (221 chars)

   Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

10. 2025-06-02
    status Active 221-char remark

    Show marketing remark (221 chars)

    Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

11. 2025-05-31
    historical 221-char remark

    Show marketing remark (221 chars)

    Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

12. 2025-03-12
    listed $175,000 Active 221-char remark

    Show marketing remark (221 chars)

    Located near the Mc Kinney area. Offering single-level living. This duplex features a spacious living area. Large driveway, providing able parking. This duplex offers a great opportunity for homeowners or investors alike.

13. 2022-12-31
    historical
14. 2022-10-16
    status Active
15. 2022-10-16
    price $144,000
16. 2022-08-15
    historical
17. 2022-04-28
    listed $154,000 Active
18. 2015-07-15
    historical
19. 2015-04-01
    listed $69,900
20. 2012-10-16
    historical
21. 2012-04-24
    listed $69,900

ⓘ 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 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,688
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$4,364
• Taxable income: $4,132
• Est. tax owed @ 24.0%: −$992
• After-tax cash flow: $5,282/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 · 1 photo

Fair 40/100 Moderate rehab

This multi-family property requires significant exterior repairs and maintenance, including a major roof replacement and exterior cleaning. Landscaping and painting would also significantly enhance its curb appeal and value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Roof — Appears aged and possibly damaged

Value-add opportunities

• Both Landscaping and exterior cleaning — Enhances curb appeal and property value
• Both Painting exterior and interior — Improves appearance and value
• Both Roof repair or replacement — Essential for structural integrity and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Roof · Appears aged and possibly damaged	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and exterior cleaning — Enhances curb appeal and property value ↑
• Both Painting exterior and interior — Improves appearance and value ↑
• Both Roof repair or replacement — Essential for structural integrity and 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: Lincoln County
• NCES district ID: 2103480
• Math proficiency: 20% ▼ -18.00%
• Reading proficiency: 35% ▼ -16.00%
• Median HH income: $35,356
• Composite: 22.68/100
• National rank: #8042
• State rank: #131 of 165 in KY

Livability — McKinney

• Score: 45/100
• State rank: #518
• US rank: #26477

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,488

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 23,293 people
• By 2030: 22,392 · -3.9%
• By 2040: 20,336 · -12.7%
• By 2050: 18,016 · -22.7%
• By 2075: 12,976 · -44.3%
• By 2100: 8,446 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2%
• Common ancestry: Italian 3% Slovak 3% Serbian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+61.2) · D 18.9% · R 80.0% · Other 1.1%
• 2008→2024 swing: -22.7pp toward R · 2008: -38.5pp · 2024: -61.2pp
• All cycles: 2024: R+61.2 2020: R+57.1 2016: R+57.3 2012: R+41.9 2008: R+38.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.35%
• Current HPI: 256.6402
• 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

+114.6% since first listed

16 events — show timeline

• 2025-09-02 Price Changed $150,000 ImagineMLS
• 2025-07-16 Relisted — ImagineMLS
• 2025-07-01 Listing Removed — ImagineMLS
• 2025-06-11 Price Changed $170,000 ImagineMLS
• 2025-06-02 Relisted — ImagineMLS
• 2025-05-31 Listing Removed — ImagineMLS
• 2025-03-12 Listed $175,000 ImagineMLS
• 2022-12-31 Listing Removed — ImagineMLS
• 2022-10-16 Relisted — ImagineMLS
• 2022-10-16 Price Changed $144,000 ImagineMLS
• 2022-08-15 Listing Removed — ImagineMLS
• 2022-04-28 Listed $154,000 ImagineMLS
• 2015-07-15 Listing Removed — ImagineMLS
• 2015-04-01 Listed $69,900 ImagineMLS
• 2012-10-16 Listing Removed — ImagineMLS
• 2012-04-24 Listed $69,900 ImagineMLS