188 Church St · Lewisburg, KY 42256

$120,000

3 bd · 1.0 ba · 1,558 sqft · Other public records · 10 Days on market

Built 1950 0.75 ac lot

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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
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• 1% rule +4.4/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to 188 Church St. This unique home is situated on two lots offering a generous 0.75 +/- acres combined. This property gives you the rare advantage of a huge, sprawling backyard within town limits as well as having two addresses and two utility sites. Whether you want to plant a massive garden, lose yourself in the detached workshop, or just enjoy the wide-open Kentucky views, this acreage delivers. Inside the home, you’ll find a large open living room, plenty of storage space in the pantry and a primary bedroom with two adjoining offices and a walk in closet. This property won’t last long, call today to schedule your showing!

Key facts

• Two lots
• Two addresses
• Detached workshop

Tags

• TWO LOTS
• SPRAWLING BACKYARD
• DETACHED WORKSHOP
• PLENTY OF STORAGE SPACE
• TWO ADDRESSES
• TWO UTILITY SITES

Property features AI

Exterior

• Parking: Gravel parking; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Metal roof; 0.75 acre lot

Interior

• Kitchen: Dishwasher; Range/Oven; Refrigerator
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Propane heating (space heater); Window cooling units
• Interior features: Eat-in kitchen; Vaulted ceilings; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $63 ($759/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 $113k (5.9% below list).
• Recommended offer: $113k (5.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#295 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Logan County (rural): math 35% / reading 44% proficiency, ranked #32 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lewisburg Elementary School (math 41% / reading 43%, grade F, #178 of 676 statewide, top 29%, 484 students, 64% FRL); Logan County High School (math 32% / reading 54%, grade F, #30 of 254 statewide, top 12%, 953 students, 47% FRL).
• Market conditions: 66 active listings in the ZIP; 30 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $876 of equity ($830 loan paydown + $46 appreciation (0.0% local appreciation)).
• Logan County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $112,976 (5.9% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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: 0.94% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $749
• Equity at exit: $35,074

10-year hold

• IRR: 6.0%
• Equity multiple: 1.65×
• Total profit: $21,894
• Equity at exit: $42,345

Cash invested: $33,600 (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 42256

• Home prices YoY: 0.0%
• Active inventory: 66
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $63

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 89%

Sensitivity live

Price	-10% $146	-5% $105	+0% $63	+5% $22	+10% $-20
Rent	-10% $-26	-5% $19	+0% $63	+5% $108	+10% $152
Rate	-1.0pp $124	-0.5pp $94	base $63	+0.5pp $32	+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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $120,000 Active 10 DOM
2. 2026-06-18
   days on market $120,000 Active 7 DOM
3. 2026-06-17
   days on market $120,000 Active 6 DOM
4. 2026-06-16
   days on market $120,000 Active 5 DOM
5. 2026-06-15
   days on market $120,000 Active 4 DOM
6. 2026-06-14
   days on market $120,000 Active 2 DOM
7. 2026-06-13
   remarks 641-char remark
8. 2026-06-13
   listed $120,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,557
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$3,491
• Taxable loss: −$1,225
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $1,053/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: Logan County
• NCES district ID: 2103540
• Math proficiency: 35% ▼ -17.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $42,577
• Composite: 33.34/100
• National rank: #5492
• State rank: #32 of 165 in KY

Livability — Lewisburg

• Score: 64/100
• State rank: #295
• US rank: #14165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisburg, KY
• Population (ZIP): 5,052

Population outlook (Logan County) Hauer SSP2

• Today (2025): 26,133 people
• By 2030: 25,572 · -2.1%
• By 2040: 24,247 · -7.2%
• By 2050: 22,849 · -12.6%
• By 2075: 19,587 · -25.0%
• By 2100: 15,927 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Italian 2% Slovak 1% Romanian 1%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 2% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+55.1) · D 21.9% · R 76.9% · Other 1.2%
• 2008→2024 swing: -26.5pp toward R · 2008: -28.6pp · 2024: -55.1pp
• All cycles: 2024: R+55.1 2020: R+48.4 2016: R+46.1 2012: R+32.6 2008: R+28.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ 0.04%
• Current HPI: 265.4274
• 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

• 2026-06-10 Listed $120,000 RASKMLS

Property tax history

+3.7%/yr

Latest (2025): $216 · -0.8% YoY. Source: county tax records.