219 Main St · North Middletown, KY 40357

$150,000

3 bd · 2.0 ba · 3,306 sqft · Other public records · 78 Days on market

0.62 ac 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bedroom, 2 bath home feels like a step back in time. From the moment you walk in, you're greeting by rich character, thoughtful details, and the kind of quality that comes from a different era. Original touches and large, inviting spaces create a sense of history while still offering the comfort of every day living. Each room tells its own story-- cozy, sunlit and full of personality. If you've been waiting for something with soul, something that doesn't feel like every other house on the market, this is it. Sold As-Is, inspections welcome

Key facts

• 0.62 acre lot
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#409 in KY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Bourbon County (town): math 26% / reading 32% proficiency, ranked #108 of 165 in KY (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 90 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $150k implies a 76% gain — meaningful room to come down on a strong offer.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.08% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.62%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.5%
• Equity multiple: 1.94×
• Total profit: $39,470
• Equity at exit: $67,446

10-year hold

• IRR: 18.0%
• Equity multiple: 3.63×
• Total profit: $110,442
• Equity at exit: $103,943

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 40357

• Active inventory: 1
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,615 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $337

Break-even live

Break-even rent $1,189

Max offer price $150,000

Occupancy floor 74%

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 22 events

1. 2026-06-13
   status $150,000 Pending 78 DOM
2. 2026-06-10
   days on market $150,000 Active 78 DOM
3. 2026-06-09
   days on market $150,000 Active 77 DOM
4. 2026-06-08
   days on market $150,000 Active 76 DOM
5. 2026-06-07
   days on market $150,000 Active 75 DOM
6. 2026-06-03
   days on market $150,000 Active 71 DOM
7. 2026-06-02
   days on market $150,000 Active 70 DOM
8. 2026-06-01
   days on market $150,000 Active 69 DOM
9. 2026-05-31
   days on market $150,000 Active 68 DOM
10. 2026-05-31
    days on market $150,000 Active 67 DOM
11. 2026-04-15
    price $175,000 560-char remark

    Show marketing remark (560 chars)

    This 3 bedroom, 2 bath home feels like a step back in time. From the moment you walk in, you're greeting by rich character, thoughtful details, and the kind of quality that comes from a different era. Original touches and large, inviting spaces create a sense of history while still offering the comfort of every day living. Each room tells its own story-- cozy, sunlit and full of personality. If you've been waiting for something with soul, something that doesn't feel like every other house on the market, this is it. Sold As-Is, inspections welcome

12. 2026-04-02
    price $190,000 560-char remark

    Show marketing remark (560 chars)

    This 3 bedroom, 2 bath home feels like a step back in time. From the moment you walk in, you're greeting by rich character, thoughtful details, and the kind of quality that comes from a different era. Original touches and large, inviting spaces create a sense of history while still offering the comfort of every day living. Each room tells its own story-- cozy, sunlit and full of personality. If you've been waiting for something with soul, something that doesn't feel like every other house on the market, this is it. Sold As-Is, inspections welcome

13. 2026-03-20
    listed $200,000 Active 560-char remark

    Show marketing remark (560 chars)

    This 3 bedroom, 2 bath home feels like a step back in time. From the moment you walk in, you're greeting by rich character, thoughtful details, and the kind of quality that comes from a different era. Original touches and large, inviting spaces create a sense of history while still offering the comfort of every day living. Each room tells its own story-- cozy, sunlit and full of personality. If you've been waiting for something with soul, something that doesn't feel like every other house on the market, this is it. Sold As-Is, inspections welcome

14. 2025-10-22
    soldstatus $85,000
15. 2025-10-17
    soldstatus $85,000 Closed 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

16. 2025-10-03
    status Pending 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

17. 2025-09-12
    price $89,900 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

18. 2025-09-02
    price $94,900 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

19. 2025-08-04
    price $99,900 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

20. 2025-07-18
    price $104,900 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

21. 2025-06-23
    price $114,900 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

22. 2025-06-06
    listed $124,900 Active 92-char remark

    Show marketing remark (92 chars)

    Large home in North Middletown for sale!!!. Large rooms with covered porch!!! Come see today

ⓘ 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: $1,083 · $90/mo
• Projected year-2 tax: $1,290 · $108/mo
• Expected delta: +$207/yr (+$17/mo · 19.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $19,381
• − Mortgage interest: −$8,402
• − Property taxes: −$1,083
• − Insurance: −$750
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − Depreciation: −$4,364
• Taxable income: $1,681
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $3,635/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: Bourbon County
• NCES district ID: 2100540
• Math proficiency: 26% ▼ -19.00%
• Reading proficiency: 32% ▼ -21.00%
• Median HH income: $47,654
• Composite: 25.13/100
• National rank: #7523
• State rank: #108 of 165 in KY

Livability — North Middletown

• Score: 59/100
• State rank: #409
• US rank: #19598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Middletown, KY
• City population: 94
• Population (ZIP): 94

Population outlook (Bourbon County) Hauer SSP2

• Today (2025): 20,485 people
• By 2030: 20,559 · +0.4%
• By 2040: 20,491 · +0.0%
• By 2050: 20,065 · -2.1%
• By 2075: 19,173 · -6.4%
• By 2100: 16,646 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%

Political lean MEDSL · Bourbon

• 2024 margin: Solid R (+33.5) · D 32.4% · R 65.9% · Other 1.7%
• 2008→2024 swing: -16.3pp toward R · 2008: -17.2pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.0 2016: R+31.6 2012: R+20.4 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+40.1% since first listed

12 events — show timeline

• 2026-04-15 Price Changed $175,000 ImagineMLS
• 2026-04-02 Price Changed $190,000 ImagineMLS
• 2026-03-20 Listed $200,000 ImagineMLS
• 2025-10-22 Sold (Public Records) $85,000 Public Records
• 2025-10-17 Sold (MLS) $85,000 ImagineMLS
• 2025-10-03 Pending — ImagineMLS
• 2025-09-12 Price Changed $89,900 ImagineMLS
• 2025-09-02 Price Changed $94,900 ImagineMLS
• 2025-08-04 Price Changed $99,900 ImagineMLS
• 2025-07-18 Price Changed $104,900 ImagineMLS
• 2025-06-23 Price Changed $114,900 ImagineMLS
• 2025-06-06 Listed $124,900 ImagineMLS

Property tax history

+7.5%/yr

Latest (2025): $1,083 · -1.0% YoY. Source: county tax records.