603 Saint Ann St · Owensboro, KY 42303

$299,900

15 bd · 9.0 ba · 2,936 sqft · MultiFamily · 356 Days on market

Built 1906 Good condition 3,330 sqft lot $102/sqft · 45% above area Est $207k · 45% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

Key facts

• Short-term rentals
• Adorable triplex
• 3,330 sq ft lot

Tags

• ADORABLE TRIPLEX
• SHORT-TERM RENTALS
• PRIME INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $587/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 3.1% in Owensboro — 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 71/100 on livability (#148 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime D-, amenities F.
• Owensboro Independent (urban): math 27% / reading 36% proficiency, ranked #100 of 165 in KY (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 360 active listings in the ZIP; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).
• At $4,853/mo this rent would consume 90% of the median local household income ($65k/yr) (locally 983% 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 $9k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $45k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 356 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. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.62% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.17%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

• ARV (median comp): $207,156
• List price: $299,900
• Delta: 44.77%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.7%
• Equity multiple: 1.76×
• Total profit: $63,656
• Equity at exit: $44,716

10-year hold

• IRR: 27.1%
• Equity multiple: 3.38×
• Total profit: $200,178
• Equity at exit: $25,930

Cash invested: $83,972 (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 42303

• Home prices YoY: -29.1%
• Active inventory: 360
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $4,853 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,019
• Net cashflow: $1,761

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,969	-5% $1,865	+0% $1,761	+5% $1,658	+10% $1,554
Rent	-10% $1,378	-5% $1,570	+0% $1,761	+5% $1,953	+10% $2,145
Rate	-1.0pp $1,912	-0.5pp $1,838	base $1,761	+0.5pp $1,684	+1.0pp $1,605

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$4,854
Total (3 units)			$4,853

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-20
   status Pending 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

2. 2026-03-18
   price $299,900 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

3. 2026-02-25
   price $314,900 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

4. 2025-10-22
   status Active 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

5. 2025-06-17
   status Pending 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

6. 2025-04-15
   price $319,900 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

7. 2025-03-26
   price $339,900 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

8. 2025-01-22
   listed $344,900 Active 347-char remark

   Show marketing remark (347 chars)

   NEW ROOF AND NEW SIDING!!!! CASH FLOW OPPORTUNITY!! This charming old home has been transformed into an adorable triplex, close to Brescia College! If you're looking for a prime investment opportunity with current cash flow, this gem is perfect for you. Currently being used as short-term rentals, it’s a great way to diversify your income.

9. 2024-09-05
   listed $349,900 Active
10. 2022-11-14
    soldstatus $280,000 Closed
11. 2022-10-24
    status Pending
12. 2022-10-18
    listed $269,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $58,236
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,659
• − Management: −$4,659
• − Depreciation: −$8,724
• Taxable income: $17,397
• Est. tax owed @ 24.0%: −$4,175
• After-tax cash flow: $16,961/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

Good 75/100 Cosmetic rehab

This charming triplex is in good condition with recent renovations, making it an excellent investment opportunity with current cash flow.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and can increase both resale and rental value
• Both Upgrade lighting fixtures — Improves aesthetics and can attract more tenants
• Both Install smart home devices — Enhances convenience and can attract more tenants

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and can increase both resale and rental value ↑
• Both Upgrade lighting fixtures — Improves aesthetics and can attract more tenants ↑
• Both Install smart home devices — Enhances convenience and can attract more tenants ↑

ⓘ 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: Owensboro Independent
• NCES district ID: 2104590
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $33,020
• Composite: 25.79/100
• National rank: #7364
• State rank: #100 of 165 in KY

Livability — Owensboro

• Score: 71/100
• State rank: #148
• US rank: #7153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owensboro, KY
• County: Daviess County · 87,564 people
• City population: 87,564
• Metro: Owensboro, KY
• Population (ZIP): 42,119
• Household income: $64,773
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 983.0

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 103,810 people
• By 2030: 105,722 · +1.8%
• By 2040: 108,731 · +4.7%
• By 2050: 110,295 · +6.2%
• By 2075: 113,056 · +8.9%
• By 2100: 106,257 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 5% Black 3% Asian 2%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: -10.1pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+27.9 2016: R+32.2 2012: R+21.1 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.55%
• Current HPI: 217.7128
• Rent YoY: —
• Metro: Owensboro, 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

+11.1% since first listed

12 events — show timeline

• 2026-05-20 Pending — GORAMLS
• 2026-03-18 Price Changed $299,900 GORAMLS
• 2026-02-25 Price Changed $314,900 GORAMLS
• 2025-10-22 Relisted — GORAMLS
• 2025-06-17 Pending — GORAMLS
• 2025-04-15 Price Changed $319,900 GORAMLS
• 2025-03-26 Price Changed $339,900 GORAMLS
• 2025-01-22 Listed $344,900 GORAMLS
• 2024-09-05 Listed $349,900 GORAMLS
• 2022-11-14 Sold (MLS) $280,000 GORAMLS
• 2022-10-24 Pending — GORAMLS
• 2022-10-18 Listed $269,900 GORAMLS