201 E Market St · Warsaw, KY 41095

$89,500

1 bd · 1.0 ba · 784 sqft · SingleFamily public records · 133 Days on market

4,269 sqft lot

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Why this score? — see what drove the C- 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 +14.5/30.0
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

OPEN HOUSE SATURDAY 1/21 11:00-1:00 Totally remodeled and absolutely adorable! You've got to see this one. Painted inside and out, new trim, luxury vinyl plank flooring throughout entire main floor, new windows, interior doors, light fixtures, cabinets, QUARTZ countertops, STAINLESS STEEL APPLIANCES including stove, microwave, dishwasher and refrigerator. New electrical and New furnace. Fenced in back yard. Sits in the heart of Warsaw with off street parking. Buyer to verify all information.

Key facts

• Updated bath
• Shed
• Large fenced lot

Tags

• LARGE FENCED LOT
• UPDATED KITCHEN
• UPDATED BATH
• USABLE FULL BASEMENT
• SHED
• COVERED AREA BEHIND SHED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Single family residence; One level; Existing structure
• Construction: Aluminum siding; Block foundation
• Exterior features: Vinyl-clad windows; Wood fencing; Shingle roof; City street frontage; Lot approximately 38 x 107 (0.1 acre)

Interior

• Kitchen: Stainless steel appliances; Electric range; Dishwasher; Refrigerator
• Bedrooms: Primary Bedroom (13 x 12); Bedroom 2 (12 x 13)
• Bathrooms: Primary Bath (6 x 5); 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Ceiling fan(s)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $20 ($237/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 $83k (6.9% below list).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 3.3% in Warsaw — 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 61/100 on livability (#376 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute F.
• Gallatin County (rural): math 20% / reading 31% proficiency, ranked #137 of 165 in KY (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gallatin County Upper Elementary (math 18% / reading 32%, grade F, #483 of 676 statewide, top 72%, 290 students, 70% FRL); Gallatin County Middle School (math 22% / reading 30%, grade F, #178 of 217 statewide, top 83%, 326 students, 67% FRL); Gallatin County High School (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 493 students, 65% FRL).
• Market conditions: 46 active listings in the ZIP; 56 units permitted in Gallatin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($619 loan paydown + $7k appreciation (8.4% local appreciation)).
• Gallatin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $50k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $78,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 0.93% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.61×
• Total profit: $40,298
• Equity at exit: $70,280

10-year hold

• IRR: 19.7%
• Equity multiple: 5.64×
• Total profit: $116,169
• Equity at exit: $141,743

Cash invested: $25,060 (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 41095

• Home prices YoY: 2.9%
• Active inventory: 46
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $833 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$132 /mo · $1,582/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $20

Break-even live

Break-even rent $808

Max offer price $89,500

Occupancy floor 93%

Sensitivity live

Price	-10% $70	-5% $45	+0% $20	+5% $-6	+10% $-31
Rent	-10% $-46	-5% $-13	+0% $20	+5% $53	+10% $86
Rate	-1.0pp $65	-0.5pp $42	base $20	+0.5pp $-3	+1.0pp $-27

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-12
   statusdays on market $89,500 Pending 133 DOM
2. 2026-06-09
   days on market $89,500 Active 131 DOM
3. 2026-06-09
   price $89,500 Active 130 DOM
4. 2026-06-08
   days on market $99,500 Active 130 DOM
5. 2026-06-07
   days on market $99,500 Active 129 DOM
6. 2026-06-07
   days on market $99,500 Active 128 DOM
7. 2026-06-04
   days on market $99,500 Active 125 DOM
8. 2026-06-02
   days on market $99,500 Active 124 DOM
9. 2026-06-01
   days on market $99,500 Active 123 DOM
10. 2026-05-31
    days on market $99,500 Active 122 DOM
11. 2026-05-31
    days on market $99,500 Active 121 DOM
12. 2026-05-07
    price $99,500
13. 2026-04-06
    price $113,500
14. 2026-03-03
    price $128,500
15. 2026-01-28
    listed $139,900 Active
16. 2025-02-12
    historical
17. 2025-02-04
    price $168,000
18. 2025-01-03
    listed $171,000 Active
19. 2023-02-28
    soldstatus $149,000
20. 2023-02-24
    soldstatus $149,000 Sold 504-char remark

    Show marketing remark (504 chars)

    OPEN HOUSE SATURDAY 1/21 11:00-1:00 Totally remodeled and absolutely adorable! You've got to see this one. Painted inside and out, new trim, luxury vinyl plank flooring throughout entire main floor, new windows, interior doors, light fixtures, cabinets, QUARTZ countertops, STAINLESS STEEL APPLIANCES including stove, microwave, dishwasher and refrigerator. New electrical and New furnace. Fenced in back yard. Sits in the heart of Warsaw with off street parking. Buyer to verify all information.

21. 2023-01-28
    status Pending 504-char remark

    Show marketing remark (504 chars)

    OPEN HOUSE SATURDAY 1/21 11:00-1:00 Totally remodeled and absolutely adorable! You've got to see this one. Painted inside and out, new trim, luxury vinyl plank flooring throughout entire main floor, new windows, interior doors, light fixtures, cabinets, QUARTZ countertops, STAINLESS STEEL APPLIANCES including stove, microwave, dishwasher and refrigerator. New electrical and New furnace. Fenced in back yard. Sits in the heart of Warsaw with off street parking. Buyer to verify all information.

22. 2023-01-19
    listed $145,000 Active 504-char remark

    Show marketing remark (504 chars)

    OPEN HOUSE SATURDAY 1/21 11:00-1:00 Totally remodeled and absolutely adorable! You've got to see this one. Painted inside and out, new trim, luxury vinyl plank flooring throughout entire main floor, new windows, interior doors, light fixtures, cabinets, QUARTZ countertops, STAINLESS STEEL APPLIANCES including stove, microwave, dishwasher and refrigerator. New electrical and New furnace. Fenced in back yard. Sits in the heart of Warsaw with off street parking. Buyer to verify all information.

23. 2022-09-12
    soldstatus $80,000
24. 2022-09-07
    soldstatus $80,000 Sold
25. 2022-08-12
    status Pending
26. 2022-08-09
    price $80,000
27. 2022-07-25
    price $100,000
28. 2022-06-17
    listed $142,000 Active
29. 2019-06-28
    soldstatus $243,650
30. 2013-03-31
    soldstatus $28,000
31. 2012-12-16
    listed $33,500
32. 2008-08-01
    soldstatus $50,000
33. 2003-06-01
    soldstatus $50,000

ⓘ 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: $1,582 · $132/mo
• Projected year-2 tax: $1,582 · $132/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,998
• − Mortgage interest: −$5,013
• − Property taxes: −$1,582
• − Insurance: −$448
• − Repairs & maintenance: −$800
• − Management: −$800
• − Depreciation: −$2,604
• Taxable loss: −$1,248
• Est. tax savings @ 24.0%: +$300
• After-tax cash flow: $536/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: Gallatin County
• NCES district ID: 2102130
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 31% ▼ -16.00%
• Median HH income: $46,041
• Composite: 22.05/100
• National rank: #8195
• State rank: #137 of 165 in KY

Livability — Warsaw

• Score: 61/100
• State rank: #376
• US rank: #17814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warsaw, KY
• Population (ZIP): 3,775

Population outlook (Gallatin County) Hauer SSP2

• Today (2025): 8,658 people
• By 2030: 8,616 · -0.5%
• By 2040: 8,410 · -2.9%
• By 2050: 8,140 · -6.0%
• By 2075: 7,308 · -15.6%
• By 2100: 6,671 · -22.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Black 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 1% Italian 1% Scottish 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6% French/Haitian/Cajun 0%

Political lean MEDSL · Gallatin

• 2024 margin: Solid R (+59.9) · D 19.4% · R 79.4% · Other 1.2%
• 2008→2024 swing: -42.3pp toward R · 2008: -17.6pp · 2024: -59.9pp
• All cycles: 2024: R+59.9 2020: R+55.4 2016: R+50.8 2012: R+17.0 2008: R+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.37%
• Current HPI: 293.2896
• 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

+99.0% since first listed

22 events — show timeline

• 2026-05-07 Price Changed $99,500 NKMLS
• 2026-04-06 Price Changed $113,500 NKMLS
• 2026-03-03 Price Changed $128,500 NKMLS
• 2026-01-28 Listed $139,900 NKMLS
• 2025-02-12 Listing Removed — NKMLS
• 2025-02-04 Price Changed $168,000 NKMLS
• 2025-01-03 Listed $171,000 NKMLS
• 2023-02-28 Sold (Public Records) $149,000 Public Records
• 2023-02-24 Sold (MLS) $149,000 NKMLS
• 2023-01-28 Pending — NKMLS
• 2023-01-19 Listed $145,000 NKMLS
• 2022-09-12 Sold (Public Records) $80,000 Public Records
• 2022-09-07 Sold (MLS) $80,000 NKMLS
• 2022-08-12 Pending — NKMLS
• 2022-08-09 Price Changed $80,000 NKMLS
• 2022-07-25 Price Changed $100,000 NKMLS
• 2022-06-17 Listed $142,000 NKMLS
• 2019-06-28 Sold (Public Records) $243,650 Public Records
• 2013-03-31 Sold (MLS) $28,000 NKMLS
• 2012-12-16 Listed $33,500 NKMLS
• 2008-08-01 Sold (Public Records) $50,000 Public Records
• 2003-06-01 Sold (Public Records) $50,000 Public Records

Property tax history

+14.6%/yr

Latest (2025): $1,582 · -0.2% YoY. Source: county tax records.