175 S Main St · Whitley City, KY 42653

$275,000

5 bd · 3.0 ba · 1,600 sqft · MultiFamily · 171 Days on market

Built 1946 Poor condition 0.25 ac lot $172/sqft · 50% above area Est $184k · 50% 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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Appreciation +6.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Totally updated interior and exterior building with 3 new rental units. Downstairs units have 2 bedrooms and 1 bath. Upstairs unit has 1 bedroom, 1 bath. A fourth unit can also be completed upstairs. All units are leased. Basement area offers the possibility of adding 2 additional units. Located in the town of Whitley City with restaurants, shopping, library and courthouse within walking distance. Property has city sewer and city water.

Key facts

• Updated exterior
• New rental units
• Updated interior

Tags

• UPDATED INTERIOR
• UPDATED EXTERIOR
• NEW RENTAL UNITS
• POSSIBILITY OF ADDING UNITS
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO LIBRARY

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $275k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#441 in KY) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing B; Watch: schools F, amenities F, commute F.
• Mccreary County (rural): math 22% / reading 35% proficiency, ranked #135 of 165 in KY (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 31 active listings in the ZIP.

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (2.9% local appreciation)).
• McCreary County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.19% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.70%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $183,659
• List price: $275,000
• Delta: 49.73%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

2.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.97×
• Total profit: $74,845
• Equity at exit: $121,445

10-year hold

• IRR: 18.8%
• Equity multiple: 3.70×
• Total profit: $207,839
• Equity at exit: $185,463

Cash invested: $77,000 (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 42653

• Home prices YoY: 1.8%
• Active inventory: 31
• Price-to-rent: 28.0×

Monthly cashflow live

• Estimated rent: $3,275 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $687

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,451
1× unit	1	1	$823
Total (4 units)			$3,275

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $275,000 Active 171 DOM
2. 2026-06-17
   days on market $275,000 Active 170 DOM
3. 2026-06-16
   days on market $275,000 Active 169 DOM
4. 2026-06-15
   days on market $275,000 Active 168 DOM
5. 2026-06-13
   days on market $275,000 Active 166 DOM
6. 2026-06-12
   days on market $275,000 Active 165 DOM
7. 2026-06-09
   days on market $275,000 Active 162 DOM
8. 2026-06-08
   days on market $275,000 Active 161 DOM
9. 2026-06-07
   days on market $275,000 Active 160 DOM
10. 2026-06-07
    days on market $275,000 Active 159 DOM
11. 2026-06-04
    days on market $275,000 Active 156 DOM
12. 2026-06-02
    days on market $275,000 Active 155 DOM
13. 2026-06-01
    days on market $275,000 Active 154 DOM
14. 2026-05-31
    days on market $275,000 Active 153 DOM
15. 2026-05-31
    days on market $275,000 Active 152 DOM
16. 2025-12-27
    listed $275,000 Active 448-char remark

    Show marketing remark (448 chars)

    Totally updated interior and exterior building with 3 new rental units. Downstairs units have 2 bedrooms and 1 bath. Upstairs unit has 1 bedroom, 1 bath. A fourth unit can also be completed upstairs. All units are leased. Basement area offers the possibility of adding 2 additional units. Located in the town of Whitley City with restaurants, shopping, library and courthouse within walking distance. Property has city sewer and city water.

ⓘ 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: $39,300
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,144
• − Management: −$3,144
• − Depreciation: −$8,000
• Taxable income: $4,108
• Est. tax owed @ 24.0%: −$986
• After-tax cash flow: $7,256/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 · 3 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive renovation to improve its condition and increase its value.

Repairs flagged

• Major siding — Severe weathering and peeling
• Major roof — Visible damage and potential leaks
• Major flooring — Likely outdated or damaged
• Major HVAC/mechanicals — Likely outdated or in need of repair

Value-add opportunities

• Both exterior renovation — Improves curb appeal and rental value
• Both HVAC upgrade — Enhances comfort and energy efficiency
• Both interior updates — Modernizes the space and attracts tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and peeling	Major	$15,000–50,000
roof · Visible damage and potential leaks	Major	$15,000–50,000
flooring · Likely outdated or damaged	Major	$15,000–50,000
HVAC/mechanicals · Likely outdated or in need of repair	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior renovation — Improves curb appeal and rental value ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑
• Both interior updates — Modernizes the space and attracts 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: Mccreary County
• NCES district ID: 2103990
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 35% ▼ -19.00%
• Median HH income: $22,071
• Composite: 22.24/100
• National rank: #8147
• State rank: #135 of 165 in KY

Livability — Whitley City

• Score: 57/100
• State rank: #441
• US rank: #21812

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitley City, KY
• Population (ZIP): 3,911

Population outlook (McCreary County) Hauer SSP2

• Today (2025): 17,097 people
• By 2030: 16,678 · -2.5%
• By 2040: 15,626 · -8.6%
• By 2050: 14,467 · -15.4%
• By 2075: 11,665 · -31.8%
• By 2100: 9,268 · -45.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Black 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Scottish 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · McCreary

• 2024 margin: Solid R (+78.7) · D 10.3% · R 89.0%
• 2008→2024 swing: -26.6pp toward R · 2008: -52.1pp · 2024: -78.7pp
• All cycles: 2024: R+78.7 2020: R+76.7 2016: R+75.3 2012: R+61.3 2008: R+52.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.86%
• Current HPI: 164.4688
• 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

1 event — show timeline

• 2025-12-27 Listed $275,000 ImagineMLS