817 Cottage Dr · Owensboro, KY 42301

$205,000

4 bd · 1.0 ba · 1,482 sqft · SingleFamily public records · 3 Days on market

Built 1943 6,000 sqft lot Est $176k · 16% over

---

Why this score? — see what drove the D- 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 +16.2/30.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cottage on Cottage! Dining area with built-ins, kitchen with appliances, updated bathroom, partially finished basement great for play room or tv room, laundry in basement, replacement windows, hardwood flooring. 2 bdrms main level, 2 bdrms up. Bonus rm on main level. Character and charm is what you'll find in this jewel.

Key facts

• Hardwood flooring
• Updated bathroom
• 6,000 sq ft lot

Tags

• HARDWOOD FLOORING
• UPDATED BATHROOM
• UPDATED KITCHEN FLOORING
• PARTIALLY FINISHED BASEMENT
• HVAC AND FURNACE REPLACED
• ROOF RECENTLY REPLACED

Property features AI

Exterior

• Parking: 1-car garage; Concrete parking surface
• Utilities: Natural gas available; Public sewer
• Home design: Single-family residence; 1 story
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window cooling units
• Interior features: Dishwasher; Microwave; Range; Refrigerator; Gas water heater; Unfinished partial basement with sump pump

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/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 $166k (18.9% below list).
• Recommended offer: $166k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Zoned schools: Sutton Elementary School (math 37% / reading 41%, grade F, #229 of 676 statewide, top 34%, 561 students, 46% FRL); Owensboro Middle School (math 25% / reading 34%, grade F, #151 of 217 statewide, top 71%, 807 students, 74% FRL); Owensboro High School (math 30% / reading 40%, grade F, #74 of 254 statewide, top 29%, 1,334 students, 58% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 301 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $122k; list at $205k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,234 (18.9% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.25%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $176,358
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1014 W 12th St	0.28mi	3/2.0 (-1)	1,490 (+0%)	1mo	$70,000	$47	77
1115 West Parrish Ave	0.21mi	3/1.5 (-1)	1,371 (-8%)	4mo	$173,000	$126	67
902 Hill Ave	0.59mi	3/1.0 (-1)	1,470 (-1%)	2mo	$175,000	$119	64
401 Booth Ave	0.62mi	3/1.0 (-1)	1,540 (+4%)	3mo	$179,900	$117	57
116 E Parrish Ave	0.55mi	3/2.0 (-1)	1,442 (-3%)	6mo	$110,000	$76	56
411 W 7th St	0.69mi	3/2.0 (-1)	1,486 (+0%)	5mo	$157,000	$106	54
929 Locust St	0.45mi	4/2.0	1,311 (-12%)	2mo	$125,000	$95	54
404 W 8th St	0.58mi	3/1.5 (-1)	1,386 (-6%)	5mo	$179,500	$130	51
301 E 22nd St	0.74mi	3/2.0 (-1)	1,450 (-2%)	7mo	$130,000	$90	47
109 E 19th St	0.54mi	3/2.0 (-1)	1,322 (-11%)	2mo	$225,000	$170	46
430 Booth Ave	0.64mi	4/2.0	1,628 (+10%)	5mo	$242,000	$149	46
103 E 22nd St	0.63mi	3/2.0 (-1)	1,336 (-10%)	1mo	$259,900	$195	44

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: 0.54×
• Total profit: $-26,468
• Equity at exit: $30,566

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-14,646
• Equity at exit: $17,725

Cash invested: $57,400 (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 42301

• Home prices YoY: -31.0%
• Active inventory: 301
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,662 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $108

Break-even live

Break-even rent $1,526

Max offer price $205,000

Occupancy floor 89%

Sensitivity live

Price	-10% $224	-5% $166	+0% $108	+5% $50	+10% $-8
Rent	-10% $-24	-5% $42	+0% $108	+5% $173	+10% $239
Rate	-1.0pp $211	-0.5pp $160	base $108	+0.5pp $55	+1.0pp $0

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1302 Daviess St Owensboro, KY	3.0	1.0	1008	$1,200	$1.19	23d	1	0.55mi
2035 Ottawa Dr Owensboro, KY	4.0	1.5	1407	$1,650	$1.17	45d	1	1.49mi

Listing history 8 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $205,000 Active
3. 2015-03-31
   soldstatus $122,000 322-char remark

   Show marketing remark (322 chars)

   Cottage on Cottage! Dining area with built-ins, kitchen with appliances, updated bathroom, partially finished basement great for play room or tv room, laundry in basement, replacement windows, hardwood flooring. 2 bdrms main level, 2 bdrms up. Bonus rm on main level. Character and charm is what you'll find in this jewel.

4. 2015-03-01
   soldstatus $122,000
5. 2015-03-01
   soldstatus $122,000
6. 2014-11-24
   listed $129,900 322-char remark

   Show marketing remark (322 chars)

   Cottage on Cottage! Dining area with built-ins, kitchen with appliances, updated bathroom, partially finished basement great for play room or tv room, laundry in basement, replacement windows, hardwood flooring. 2 bdrms main level, 2 bdrms up. Bonus rm on main level. Character and charm is what you'll find in this jewel.

7. 2013-12-13
   soldstatus $126,500 390-char remark

   Show marketing remark (390 chars)

   Three bedroom, one bath cottage on Cottage Drive. TONS OF CHARACTER. Dining Area with built-in bookcases. Updated Bathroom. Partially finished basement & potential two additions bedrooms upstairs. One car garage, replacement windows, updated plumbing, and hardwood floors. Great location and fenced-in yard. Square footage in bonus area is not included in Living Space square footage.

8. 2013-09-17
   listed $126,900 390-char remark

   Show marketing remark (390 chars)

   Three bedroom, one bath cottage on Cottage Drive. TONS OF CHARACTER. Dining Area with built-in bookcases. Updated Bathroom. Partially finished basement & potential two additions bedrooms upstairs. One car garage, replacement windows, updated plumbing, and hardwood floors. Great location and fenced-in yard. Square footage in bonus area is not included in Living Space square footage.

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$1,221/yr (+$102/mo · 225.3%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,948
• − Mortgage interest: −$11,483
• − Property taxes: −$542
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$5,964
• Taxable loss: −$2,257
• Est. tax savings @ 24.0%: +$542
• After-tax cash flow: $1,833/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: 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): 45,445
• Household income: $66,885
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 1228.0

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 (82%)
• Race & ethnicity: White 82% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2%

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: ▼ -106.96%
• Current HPI: 238.2395
• 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

+61.5% since first listed

8 events — show timeline

• 2026-05-21 Pending — GORAMLS
• 2026-05-18 Listed $205,000 GORAMLS
• 2015-03-31 Sold (MLS) $122,000 GORAMLS
• 2015-03-01 Sold (Public Records) $122,000 Public Records
• 2015-03-01 Sold (Public Records) $122,000 Public Records
• 2014-11-24 Listed $129,900 GORAMLS
• 2013-12-13 Sold (MLS) $126,500 GORAMLS
• 2013-09-17 Listed $126,900 GORAMLS

Property tax history

-10.6%/yr

Latest (2025): $542 · -3.3% YoY. Source: county tax records.