215 S Walters Ave · Hodgenville, KY 42748

$170,000

2 bd · 1.0 ba · 768 sqft · Other public records · 29 Days on market

Built 1958 6,098 sqft lot

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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
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Whether you're searching for your next home or a solid investment opportunity, this property checks all the boxes! This charming 2-bedroom, 1-bath home in downtown Hodgenville offers a great mix of comfort, character, and functionality. Step inside and you’ll find a welcoming eat-in kitchen with an inviting feel, suitable for everyday living. The spacious living room features hardwood flooring and provides plenty of room to relax or entertain your guests. The full bathroom includes a shower/tub combo and is finished with attractive tile flooring. Both bedrooms offer comfortable layouts with carpet flooring and added space for flexibility. Step outside and you’ll appreciate the added extras that come with the property, a detached shed for storage, a fire pit area ideal for winding down in the evenings/nights, and a carport for convenient covered parking. This well-rounded property in downtown Hodgenville comes with both lifestyle and investment appeal that is move in ready. Don’t let this one pass you by!

Key facts

• Hardwood flooring
• Carport
• Fire pit area

Tags

• EAT-IN KITCHEN
• HARDWOOD FLOORING
• TILE FLOORING
• DETACHED SHED
• FIRE PIT AREA
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.1% in Hodgenville — 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 65/100 on livability (#259 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Larue County (rural): math 26% / reading 40% proficiency, ranked #82 of 165 in KY (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 65 units permitted in Larue County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Larue County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $120k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — 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. 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?
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.97%
• DSCR: 1.71
• GRM: 6.7

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $12,750
• Equity at exit: $25,348

10-year hold

• IRR: 16.2%
• Equity multiple: 2.32×
• Total profit: $62,826
• Equity at exit: $14,698

Cash invested: $47,600 (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 42748

• Home prices YoY: -28.9%
• Active inventory: 79
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $634

Break-even live

Break-even rent $1,298

Max offer price $170,000

Occupancy floor 65%

Sensitivity live

Price	-10% $730	-5% $682	+0% $634	+5% $586	+10% $537
Rent	-10% $468	-5% $551	+0% $634	+5% $717	+10% $800
Rate	-1.0pp $719	-0.5pp $677	base $634	+0.5pp $590	+1.0pp $545

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Despain Ct Hodgenville, KY	2.0	2.0	1100	$2,100	$1.91	21d	1	0.94mi

Listing history 14 events

1. 2026-05-19
   status Pending 1037-char remark

   Show marketing remark (1037 chars)

   Whether you're searching for your next home or a solid investment opportunity, this property checks all the boxes! This charming 2-bedroom, 1-bath home in downtown Hodgenville offers a great mix of comfort, character, and functionality. Step inside and you’ll find a welcoming eat-in kitchen with an inviting feel, suitable for everyday living. The spacious living room features hardwood flooring and provides plenty of room to relax or entertain your guests. The full bathroom includes a shower/tub combo and is finished with attractive tile flooring. Both bedrooms offer comfortable layouts with carpet flooring and added space for flexibility. Step outside and you’ll appreciate the added extras that come with the property, a detached shed for storage, a fire pit area ideal for winding down in the evenings/nights, and a carport for convenient covered parking. This well-rounded property in downtown Hodgenville comes with both lifestyle and investment appeal that is move in ready. Don’t let this one pass you by!

2. 2026-05-19
   status Active 1037-char remark

   Show marketing remark (1037 chars)

   Whether you're searching for your next home or a solid investment opportunity, this property checks all the boxes! This charming 2-bedroom, 1-bath home in downtown Hodgenville offers a great mix of comfort, character, and functionality. Step inside and you’ll find a welcoming eat-in kitchen with an inviting feel, suitable for everyday living. The spacious living room features hardwood flooring and provides plenty of room to relax or entertain your guests. The full bathroom includes a shower/tub combo and is finished with attractive tile flooring. Both bedrooms offer comfortable layouts with carpet flooring and added space for flexibility. Step outside and you’ll appreciate the added extras that come with the property, a detached shed for storage, a fire pit area ideal for winding down in the evenings/nights, and a carport for convenient covered parking. This well-rounded property in downtown Hodgenville comes with both lifestyle and investment appeal that is move in ready. Don’t let this one pass you by!

3. 2026-05-12
   historical 1037-char remark

   Show marketing remark (1037 chars)

   Whether you're searching for your next home or a solid investment opportunity, this property checks all the boxes! This charming 2-bedroom, 1-bath home in downtown Hodgenville offers a great mix of comfort, character, and functionality. Step inside and you’ll find a welcoming eat-in kitchen with an inviting feel, suitable for everyday living. The spacious living room features hardwood flooring and provides plenty of room to relax or entertain your guests. The full bathroom includes a shower/tub combo and is finished with attractive tile flooring. Both bedrooms offer comfortable layouts with carpet flooring and added space for flexibility. Step outside and you’ll appreciate the added extras that come with the property, a detached shed for storage, a fire pit area ideal for winding down in the evenings/nights, and a carport for convenient covered parking. This well-rounded property in downtown Hodgenville comes with both lifestyle and investment appeal that is move in ready. Don’t let this one pass you by!

4. 2026-05-05
   status Pending 1037-char remark

   Show marketing remark (1037 chars)

   Whether you're searching for your next home or a solid investment opportunity, this property checks all the boxes! This charming 2-bedroom, 1-bath home in downtown Hodgenville offers a great mix of comfort, character, and functionality. Step inside and you’ll find a welcoming eat-in kitchen with an inviting feel, suitable for everyday living. The spacious living room features hardwood flooring and provides plenty of room to relax or entertain your guests. The full bathroom includes a shower/tub combo and is finished with attractive tile flooring. Both bedrooms offer comfortable layouts with carpet flooring and added space for flexibility. Step outside and you’ll appreciate the added extras that come with the property, a detached shed for storage, a fire pit area ideal for winding down in the evenings/nights, and a carport for convenient covered parking. This well-rounded property in downtown Hodgenville comes with both lifestyle and investment appeal that is move in ready. Don’t let this one pass you by!

5. 2026-04-06
   listed $170,000 Active 1037-char remark

   Show marketing remark (1037 chars)

   Whether you're searching for your next home or a solid investment opportunity, this property checks all the boxes! This charming 2-bedroom, 1-bath home in downtown Hodgenville offers a great mix of comfort, character, and functionality. Step inside and you’ll find a welcoming eat-in kitchen with an inviting feel, suitable for everyday living. The spacious living room features hardwood flooring and provides plenty of room to relax or entertain your guests. The full bathroom includes a shower/tub combo and is finished with attractive tile flooring. Both bedrooms offer comfortable layouts with carpet flooring and added space for flexibility. Step outside and you’ll appreciate the added extras that come with the property, a detached shed for storage, a fire pit area ideal for winding down in the evenings/nights, and a carport for convenient covered parking. This well-rounded property in downtown Hodgenville comes with both lifestyle and investment appeal that is move in ready. Don’t let this one pass you by!

6. 2024-02-07
   soldstatus $120,000 Closed 324-char remark

   Show marketing remark (324 chars)

   Charming home nestled right in City Limits of Hodgenville. This 768+/-sqft home has beautiful hardwood flooring in the living with carpet in the 2 bedrooms. The one full bath has just recently been updated. Outside on the 0.15+/-acre lot has a carport and shed. This home offers the perfect blend of comfort and convenience.

7. 2024-02-07
   soldstatus $120,000

   Show marketing remark (324 chars)

   Charming home nestled right in City Limits of Hodgenville. This 768+/-sqft home has beautiful hardwood flooring in the living with carpet in the 2 bedrooms. The one full bath has just recently been updated. Outside on the 0.15+/-acre lot has a carport and shed. This home offers the perfect blend of comfort and convenience.

8. 2024-01-29
   status Pending 324-char remark

   Show marketing remark (324 chars)

   Charming home nestled right in City Limits of Hodgenville. This 768+/-sqft home has beautiful hardwood flooring in the living with carpet in the 2 bedrooms. The one full bath has just recently been updated. Outside on the 0.15+/-acre lot has a carport and shed. This home offers the perfect blend of comfort and convenience.

9. 2024-01-22
   price $135,000 324-char remark

   Show marketing remark (324 chars)

   Charming home nestled right in City Limits of Hodgenville. This 768+/-sqft home has beautiful hardwood flooring in the living with carpet in the 2 bedrooms. The one full bath has just recently been updated. Outside on the 0.15+/-acre lot has a carport and shed. This home offers the perfect blend of comfort and convenience.

10. 2024-01-12
    listed $140,000 Active 324-char remark

    Show marketing remark (324 chars)

    Charming home nestled right in City Limits of Hodgenville. This 768+/-sqft home has beautiful hardwood flooring in the living with carpet in the 2 bedrooms. The one full bath has just recently been updated. Outside on the 0.15+/-acre lot has a carport and shed. This home offers the perfect blend of comfort and convenience.

11. 2018-09-14
    soldstatus $77,000
12. 2018-09-14
    soldstatus $77,000
13. 2018-07-31
    listed $79,900
14. 2003-04-01
    soldstatus $63,500

ⓘ 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: $756 · $63/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$706/yr (+$59/mo · 93.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 21 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: $25,200
• − Mortgage interest: −$9,523
• − Property taxes: −$756
• − Insurance: −$850
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$4,945
• Taxable income: $5,094
• Est. tax owed @ 24.0%: −$1,223
• After-tax cash flow: $6,381/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: Larue County
• NCES district ID: 2103180
• Math proficiency: 26% ▼ -20.00%
• Reading proficiency: 40% ▼ -19.00%
• Median HH income: $39,784
• Composite: 27.66/100
• National rank: #6918
• State rank: #82 of 165 in KY

Livability — Hodgenville

• Score: 65/100
• State rank: #259
• US rank: #12858

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hodgenville, KY
• Population (ZIP): 9,189

Population outlook (Larue County) Hauer SSP2

• Today (2025): 14,441 people
• By 2030: 14,453 · +0.1%
• By 2040: 14,258 · -1.3%
• By 2050: 13,687 · -5.2%
• By 2075: 12,271 · -15.0%
• By 2100: 10,639 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Black 1%
• Common ancestry: Lithuanian 4% Serbian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Larue

• 2024 margin: Solid R (+60.4) · D 19.1% · R 79.5% · Other 1.3%
• 2008→2024 swing: -24.1pp toward R · 2008: -36.3pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+57.3 2016: R+55.4 2012: R+37.8 2008: R+36.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.53%
• Current HPI: 241.8077
• 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

+167.7% since first listed

14 events — show timeline

• 2026-05-19 Pending — HKARMLS
• 2026-05-19 Relisted — HKARMLS
• 2026-05-12 Delisted — HKARMLS
• 2026-05-05 Pending — HKARMLS
• 2026-04-06 Listed $170,000 HKARMLS
• 2024-02-07 Sold (Public Records) $120,000 Public Records
• 2024-02-07 Sold (MLS) $120,000 HKARMLS
• 2024-01-29 Pending — HKARMLS
• 2024-01-22 Price Changed $135,000 HKARMLS
• 2024-01-12 Listed $140,000 HKARMLS
• 2018-09-14 Sold (Public Records) $77,000 Public Records
• 2018-09-14 Sold (MLS) $77,000 HKARMLS
• 2018-07-31 Listed $79,900 HKARMLS
• 2003-04-01 Sold (Public Records) $63,500 Public Records

Property tax history

+11.1%/yr

Latest (2022): $756 · +185.5% YoY. Source: county tax records.