524 4th St · Flatwoods, KY 41139

$69,500

2 bd · 1.0 ba · 2,524 sqft · SingleFamily public records · 136 Days on market

Built 1932 8,057 sqft lot $28/sqft · 64% below area ↓ 37% since listing

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Why this score? — see what drove the B- 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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

524 N 4th Street - Flatwoods, KY 5 Bedrooms | 2.5 Baths | 2,524 Sq Ft | Cash or Conventional Only If you've been searching for space, value, and upside — this is it. This massive 2,524 sq ft home offers 5 true bedrooms and 2.5 baths, making it one of the largest homes available in Flatwoods at this price point — and it is priced to sell. With partial renovations already completed, this property is a steal for the money and ready for someone to finish it out and instantly build equity. Located just minutes from town, shopping, schools, and daily conveniences, this home checks all the boxes for: Large families Investors House hackers Anyone wanting a big home without a big price tag Highlights include: 5 spacious bedrooms 2.5 bathrooms Partial renovations already done Huge square footage rarely found at this price Convenient in-town location Tremendous equity potential Cash or Conventional financing only. This home will not qualify for FHA or USDA loans. Opportunities like this don't last — especially with this much space and this price point. Schedule your showing today and lock in one of the best values in Flatwoods!

Key facts

• 8,057 sq ft lot
• Built 1932
• Listed 136 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $70k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.3% in Flatwoods — 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 72/100 on livability (#125 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Russell Independent (suburban): math 40% / reading 49% proficiency, ranked #22 of 165 in KY (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 20 units permitted in Greenup County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Greenup County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.40% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.51%
• DSCR: 1.91
• GRM: 6.0

CMA / ARV

• ARV (median comp): $193,203
• List price: $69,500
• Delta: -64.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1201 Wheeler Street St	0.61mi	3/2.0 (+1)	2,460 (-2%)	18mo	$106,000	$43	43
1063 York Drive Cir	0.74mi	3/2.0 (+1)	2,380 (-6%)	20mo	$245,000	$103	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 12.8%
• Equity multiple: 1.51×
• Total profit: $9,907
• Equity at exit: $10,363

10-year hold

• IRR: 21.7%
• Equity multiple: 2.84×
• Total profit: $35,850
• Equity at exit: $6,009

Cash invested: $19,460 (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 41139

• Home prices YoY: -6.4%
• Active inventory: 42
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $333

Break-even live

Break-even rent $551

Max offer price $69,500

Occupancy floor 61%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-12
   price $69,500 1174-char remark

   Show marketing remark (1174 chars)

   524 N 4th Street - Flatwoods, KY 5 Bedrooms | 2.5 Baths | 2,524 Sq Ft | Cash or Conventional Only If you've been searching for space, value, and upside — this is it. This massive 2,524 sq ft home offers 5 true bedrooms and 2.5 baths, making it one of the largest homes available in Flatwoods at this price point — and it is priced to sell. With partial renovations already completed, this property is a steal for the money and ready for someone to finish it out and instantly build equity. Located just minutes from town, shopping, schools, and daily conveniences, this home checks all the boxes for: Large families Investors House hackers Anyone wanting a big home without a big price tag Highlights include: 5 spacious bedrooms 2.5 bathrooms Partial renovations already done Huge square footage rarely found at this price Convenient in-town location Tremendous equity potential Cash or Conventional financing only. This home will not qualify for FHA or USDA loans. Opportunities like this don't last — especially with this much space and this price point. Schedule your showing today and lock in one of the best values in Flatwoods!

2. 2026-03-21
   price $82,000 1174-char remark

   Show marketing remark (1174 chars)

   524 N 4th Street - Flatwoods, KY 5 Bedrooms | 2.5 Baths | 2,524 Sq Ft | Cash or Conventional Only If you've been searching for space, value, and upside — this is it. This massive 2,524 sq ft home offers 5 true bedrooms and 2.5 baths, making it one of the largest homes available in Flatwoods at this price point — and it is priced to sell. With partial renovations already completed, this property is a steal for the money and ready for someone to finish it out and instantly build equity. Located just minutes from town, shopping, schools, and daily conveniences, this home checks all the boxes for: Large families Investors House hackers Anyone wanting a big home without a big price tag Highlights include: 5 spacious bedrooms 2.5 bathrooms Partial renovations already done Huge square footage rarely found at this price Convenient in-town location Tremendous equity potential Cash or Conventional financing only. This home will not qualify for FHA or USDA loans. Opportunities like this don't last — especially with this much space and this price point. Schedule your showing today and lock in one of the best values in Flatwoods!

3. 2026-03-05
   price $85,000 1174-char remark

   Show marketing remark (1174 chars)

   524 N 4th Street - Flatwoods, KY 5 Bedrooms | 2.5 Baths | 2,524 Sq Ft | Cash or Conventional Only If you've been searching for space, value, and upside — this is it. This massive 2,524 sq ft home offers 5 true bedrooms and 2.5 baths, making it one of the largest homes available in Flatwoods at this price point — and it is priced to sell. With partial renovations already completed, this property is a steal for the money and ready for someone to finish it out and instantly build equity. Located just minutes from town, shopping, schools, and daily conveniences, this home checks all the boxes for: Large families Investors House hackers Anyone wanting a big home without a big price tag Highlights include: 5 spacious bedrooms 2.5 bathrooms Partial renovations already done Huge square footage rarely found at this price Convenient in-town location Tremendous equity potential Cash or Conventional financing only. This home will not qualify for FHA or USDA loans. Opportunities like this don't last — especially with this much space and this price point. Schedule your showing today and lock in one of the best values in Flatwoods!

4. 2026-01-18
   price $99,500 1174-char remark

   Show marketing remark (1174 chars)

   524 N 4th Street - Flatwoods, KY 5 Bedrooms | 2.5 Baths | 2,524 Sq Ft | Cash or Conventional Only If you've been searching for space, value, and upside — this is it. This massive 2,524 sq ft home offers 5 true bedrooms and 2.5 baths, making it one of the largest homes available in Flatwoods at this price point — and it is priced to sell. With partial renovations already completed, this property is a steal for the money and ready for someone to finish it out and instantly build equity. Located just minutes from town, shopping, schools, and daily conveniences, this home checks all the boxes for: Large families Investors House hackers Anyone wanting a big home without a big price tag Highlights include: 5 spacious bedrooms 2.5 bathrooms Partial renovations already done Huge square footage rarely found at this price Convenient in-town location Tremendous equity potential Cash or Conventional financing only. This home will not qualify for FHA or USDA loans. Opportunities like this don't last — especially with this much space and this price point. Schedule your showing today and lock in one of the best values in Flatwoods!

5. 2026-01-05
   listed $110,000 Active 1174-char remark

   Show marketing remark (1174 chars)

   524 N 4th Street - Flatwoods, KY 5 Bedrooms | 2.5 Baths | 2,524 Sq Ft | Cash or Conventional Only If you've been searching for space, value, and upside — this is it. This massive 2,524 sq ft home offers 5 true bedrooms and 2.5 baths, making it one of the largest homes available in Flatwoods at this price point — and it is priced to sell. With partial renovations already completed, this property is a steal for the money and ready for someone to finish it out and instantly build equity. Located just minutes from town, shopping, schools, and daily conveniences, this home checks all the boxes for: Large families Investors House hackers Anyone wanting a big home without a big price tag Highlights include: 5 spacious bedrooms 2.5 bathrooms Partial renovations already done Huge square footage rarely found at this price Convenient in-town location Tremendous equity potential Cash or Conventional financing only. This home will not qualify for FHA or USDA loans. Opportunities like this don't last — especially with this much space and this price point. Schedule your showing today and lock in one of the best values in Flatwoods!

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $598 · $50/mo
• Expected delta: +$97/yr (+$8/mo · 19.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,661
• − Mortgage interest: −$3,893
• − Property taxes: −$500
• − Insurance: −$348
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$2,022
• Taxable income: $3,033
• Est. tax owed @ 24.0%: −$728
• After-tax cash flow: $3,263/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: Russell Independent
• NCES district ID: 2105130
• Math proficiency: 40% ▼ -22.00%
• Reading proficiency: 49% ▼ -18.00%
• Median HH income: $49,382
• Composite: 38.14/100
• National rank: #4268
• State rank: #22 of 165 in KY

Livability — Flatwoods

• Score: 72/100
• State rank: #125
• US rank: #5872

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flatwoods, KY
• County: Greenup · 24,497 people
• City population: 5,527
• Metro: Huntington-Ashland, WV-KY-OH
• Population (ZIP): 8,258
• Household income: $59,550
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 4.4

Population outlook (Greenup County) Hauer SSP2

• Today (2025): 34,374 people
• By 2030: 33,145 · -3.6%
• By 2040: 30,407 · -11.5%
• By 2050: 27,702 · -19.4%
• By 2075: 21,970 · -36.1%
• By 2100: 16,670 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Greenup

• 2024 margin: Solid R (+50.5) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -36.4pp toward R · 2008: -14.1pp · 2024: -50.5pp
• All cycles: 2024: R+50.5 2020: R+45.1 2016: R+45.5 2012: R+18.6 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.89%
• Current HPI: 189.3977
• 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

-36.8% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $69,500 ImagineMLS
• 2026-03-21 Price Changed $82,000 ImagineMLS
• 2026-03-05 Price Changed $85,000 ImagineMLS
• 2026-01-18 Price Changed $99,500 ImagineMLS
• 2026-01-05 Listed $110,000 ImagineMLS

Property tax history

+3.4%/yr

Latest (2025): $500 · +34.5% YoY. Source: county tax records.