340 Sandy Ct · Bowling Green, KY 42101

$264,900

4 bd · 4.0 ba · 2,006 sqft · MultiFamily · 31 Days on market

Built 2006 Good condition 2.18 ac lot ↓ 10% since listing

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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 +15.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• 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

Rare duplex opportunity on 2.18 acres with endless potential! Each unit offers 2 bedrooms, 2 bathrooms, and a 1-car garage, making this a perfect option for investors or buyers looking to house hack like the current owner. One side is owner occupied and features brand new appliances, while there is still room to increase rents for added cash flow. Whether you’re looking for immediate income, owner-occupant flexibility, or future opportunities with the acreage, this property is full of potential!

Key facts

• 2.18 acre lot
• Garage
• Built 2006

Property features AI

Finance

• Other: Approximately 2.18-acre lot; Subdivision: Kelly Heights

Exterior

• Parking: Has garage
• Utilities: Public water; Public sewer
• Home design: Residential income duplex (multi-family)
• Construction: Metal roof
• Exterior features: Patio

Interior

• Bathrooms: 4 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Electric water heater; Accessible full bathroom

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive. Per door: $46/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 $243k (8.2% below list).
• Recommended offer: $243k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.0% in Bowling Green — 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 65/100 on livability (#255 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Warren County (rural): math 30% / reading 43% proficiency, ranked #48 of 165 in KY (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oakland Elementary (math 8% / reading 17%, grade F, #630 of 676 statewide, top 95%, 380 students, 79% FRL); Warren East Middle School (math 23% / reading 40%, grade F, #125 of 217 statewide, top 63%, 487 students, 65% FRL); Warren East High School (math 22% / reading 31%, grade F, #174 of 254 statewide, top 69%, 1,031 students, 60% FRL) — zoned schools average 68% FRL vs 42% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 36% district-wide (-13 pts) — the specific schools serving this property underperform the Warren County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 639 active listings in the ZIP; 2,286 units permitted in Warren County in 2024 (1,410 in 5+ unit buildings).
• At $2,433/mo this rent would consume 61% of the median local household income ($48k/yr) (locally 3855% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Warren County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

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 $243,300 (8.2% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 8% 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.28% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-43,549
• Equity at exit: $39,497

10-year hold

• IRR: -15.0%
• Equity multiple: 0.25×
• Total profit: $-55,468
• Equity at exit: $22,904

Cash invested: $74,172 (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 42101

• Home prices YoY: -20.9%
• Rents YoY: 0.3%
• Active inventory: 639
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $2,433 medium
• Mortgage (P&I): −$1,389
• Tax est. 1.5%: −$331 /mo · $3,974/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $91

Break-even live

Break-even rent $2,317

Max offer price $264,900

Occupancy floor 91%

Sensitivity live

Price	-10% $274	-5% $183	+0% $91	+5% $0	+10% $-92
Rent	-10% $-101	-5% $-5	+0% $91	+5% $188	+10% $284
Rate	-1.0pp $225	-0.5pp $159	base $91	+0.5pp $23	+1.0pp $-47

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,434
Total (2 units)			$2,433

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-22
   days on market $264,900 Active 31 DOM
2. 2026-06-19
   pricedays on market $264,900 Active 29 DOM
3. 2026-06-18
   days on market $269,900 Active 28 DOM
4. 2026-06-17
   days on market $269,900 Active 27 DOM
5. 2026-06-16
   days on market $269,900 Active 26 DOM
6. 2026-06-15
   days on market $269,900 Active 25 DOM
7. 2026-06-14
   days on market $269,900 Active 23 DOM
8. 2026-06-13
   days on market $269,900 Active 22 DOM
9. 2026-06-10
   days on market $269,900 Active 20 DOM
10. 2026-06-09
    days on market $269,900 Active 19 DOM
11. 2026-06-08
    days on market $269,900 Active 18 DOM
12. 2026-06-07
    days on market $269,900 Active 17 DOM
13. 2026-06-05
    days on market $269,900 Active 14 DOM
14. 2026-06-02
    days on market $269,900 Active 12 DOM
15. 2026-06-01
    days on market $269,900 Active 11 DOM
16. 2026-05-31
    days on market $269,900 Active 10 DOM
17. 2026-05-30
    days on market $269,900 Active 9 DOM
18. 2026-05-21
    listed $269,900 Active
19. 2024-11-05
    price $294,900
20. 2024-10-14
    listed $299,900 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 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $29,196
• − Mortgage interest: −$14,839
• − Property taxes: −$3,974
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,336
• − Management: −$2,336
• − Depreciation: −$7,706
• Taxable loss: −$3,318
• Est. tax savings @ 24.0%: +$796
• After-tax cash flow: $1,893/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 · 12 photos

Good 75/100 Cosmetic rehab

This property is a well-maintained, two-unit duplex with good condition and potential for increased value through landscaping, flooring, and painting improvements.

Repairs flagged

• Minor Landscaping — The landscaping appears overgrown and could benefit from trimming and planting.
• Minor Curb appeal — The lack of landscaping and curb appeal could be improved with some landscaping and curb appeal enhancements.
• Minor Flooring — The carpeted flooring in the living room and kitchen could be replaced with hardwood or tile for a more modern look and increased value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will increase the home's resale and rental value.
• Both Flooring replacement in living room and kitchen — Replacing the carpet with hardwood or tile flooring will increase the home's resale and rental value.
• Both Painting the exterior and interior walls — Painting the exterior and interior walls will improve the home's curb appeal and resale value.
• Both Upgrading the HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the home's comfort and energy efficiency, increasing its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · The landscaping appears overgrown and could benefit from trimming and planting.	Minor	$500–3,000
Curb appeal · The lack of landscaping and curb appeal could be improved with some landscaping and curb appeal enhancements.	Minor	$500–3,000
Flooring · The carpeted flooring in the living room and kitchen could be replaced with hardwood or tile for a more modern look and increased value.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will increase the home's resale and rental value. ↑
• Both Flooring replacement in living room and kitchen — Replacing the carpet with hardwood or tile flooring will increase the home's resale and rental value. ↑
• Both Painting the exterior and interior walls — Painting the exterior and interior walls will improve the home's curb appeal and resale value. ↑
• Both Upgrading the HVAC and mechanical systems — Upgrading the HVAC and mechanical systems will improve the home's comfort and energy efficiency, increasing its resale and rental 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: Warren County
• NCES district ID: 2105730
• Math proficiency: 30% ▼ -18.00%
• Reading proficiency: 43% ▼ -16.00%
• Median HH income: $50,092
• Composite: 31.55/100
• National rank: #5958
• State rank: #48 of 165 in KY

Livability — Bowling Green

• Score: 65/100
• State rank: #255
• US rank: #12782

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Warren County · 129,408 people
• City population: 129,408
• Metro: Bowling Green, KY
• Population (ZIP): 65,421
• Household income: $48,217
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 3855.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 144,620 people
• By 2030: 155,977 · +7.9%
• By 2040: 179,381 · +24.0%
• By 2050: 203,713 · +40.9%
• By 2075: 267,291 · +84.8%
• By 2100: 314,019 · +117.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 13% Hispanic / Latino 10% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% American 1% Italian 1%
• Foreign-born: 10% · Canada, Philippines
• Languages at home: 84% English-only · Spanish 8% Other Asian/Pacific 2% Russian/Polish/Slavic 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+24.3) · D 37.0% · R 61.3% · Other 1.6%
• 2008→2024 swing: -5.4pp toward R · 2008: -18.9pp · 2024: -24.3pp
• All cycles: 2024: R+24.3 2020: R+16.8 2016: R+24.2 2012: R+21.8 2008: R+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.34%
• Current HPI: 277.6554
• Rent YoY: ▲ 0.28%
• Metro: Bowling Green, KY
• 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

-10.0% since first listed

3 events — show timeline

• 2026-05-21 Listed $269,900 RASKMLS
• 2024-11-05 Price Changed $294,900 RASKMLS
• 2024-10-14 Listed $299,900 RASKMLS