1016 High St · Shelbyville, KY 40065

$1

1 bd · 1.0 ba · 1,268 sqft · SingleFamily public records · 34 Days on market

Built 1976 Fair condition 0.25 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.0/30.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Public auction May 9th,2026 At Shelby County Fair Grounds in the Floral Hall. Open house will be April 19th, 2026, from 2 to 4 PM. This home has new paint, new floor covering, Shingles replaced in 2025 Home is vacant. Age and lot size are estimated,

Key facts

• 0.25 acre lot
• Built 1976
• Listed 34 days

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $206,652 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $1. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-487 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

Location & tenants

• Location reads 75/100 on livability (#101 in KY, #4,143 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D, amenities F, commute F.
• Shelby County (town): math 26% / reading 37% proficiency, ranked #77 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 292 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 237 units permitted in Shelby 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 $6k of value loss. Plan a longer hold.
• Shelby County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: property tax is 309978.1% of price.
• 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 $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.58% ✗
• Cap rate: 3.47%
• Cash-on-cash: -10.10%
• DSCR: 0.55
• GRM: 14.5

CMA / ARV

• ARV (median comp): $206,652
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Ada Ave	0.47mi	2/1.0 (+1)	1,215 (-4%)	18mo	$150,000	$123	51
1030 Main St	0.21mi	2/2.0 (+1)	1,077 (-15%)	10mo	$274,600	$255	48
28 7th St	0.40mi	2/1.0 (+1)	1,112 (-12%)	11mo	$210,000	$189	47
95 Smithfield Rd	0.58mi	2/1.0 (+1)	1,376 (+8%)	9mo	$154,000	$112	46
1017 Horse Shoe Dr	0.66mi	2/2.0 (+1)	1,200 (-5%)	9mo	$234,000	$195	44
1004 Brown Ave	0.65mi	2/2.0 (+1)	1,315 (+4%)	20mo	$213,000	$162	38
1100 Brown Ave	0.70mi	2/1.0 (+1)	1,155 (-9%)	17mo	$148,000	$128	34

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: -34.5%
• Equity multiple: -0.11×
• Total profit: $-64,484
• Equity at exit: $30,812

10-year hold

• IRR: -44.2%
• Equity multiple: -0.66×
• Total profit: $-96,015
• Equity at exit: $17,867

Cash invested: $57,863 (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 40065

• Active inventory: 292

Monthly cashflow live

• Estimated rent: $1,191 high
• Mortgage (P&I): −$1,084
• Tax est. 1.5%: −$258 /mo · $3,100/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-487

Break-even live

Break-even rent $1,808

Max offer price $136,187

Occupancy floor —

Sensitivity live

Price	-10% $-344	-5% $-416	+0% $-487	+5% $-558	+10% $-630
Rent	-10% $-581	-5% $-534	+0% $-487	+5% $-440	+10% $-393
Rate	-1.0pp $-383	-0.5pp $-434	base $-487	+0.5pp $-541	+1.0pp $-595

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: $51,663
• Closing costs: $6,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Martin Luther King Jr St Shelbyville, KY	2.0	1.0	909	$1,295	$1.42	17d	1	0.06mi
113 Ada Ave Shelbyville, KY	2.0	1.5	1008	$1,025	$1.02	44d	1	0.46mi
1569 Sanford Ln Shelbyville, KY	1.0–2.0	1.0–2.0	1017	$1,010	$0.99	2d	5	0.70mi
149 Gray Hill Ct Shelbyville, KY	2.0	1.5	1050	$895	$0.85	24d	1	0.84mi
874 Marian Village Dr Shelbyville, KY	2.0–3.0	1.5–2.0	1015	$1,095	$1.08	2d	4	1.09mi

Listing history 4 events

1. 2026-05-12
   status Pending 249-char remark

   Show marketing remark (249 chars)

   Public auction May 9th,2026 At Shelby County Fair Grounds in the Floral Hall. Open house will be April 19th, 2026, from 2 to 4 PM. This home has new paint, new floor covering, Shingles replaced in 2025 Home is vacant. Age and lot size are estimated,

2. 2026-04-08
   listed $1 Active 249-char remark

   Show marketing remark (249 chars)

   Public auction May 9th,2026 At Shelby County Fair Grounds in the Floral Hall. Open house will be April 19th, 2026, from 2 to 4 PM. This home has new paint, new floor covering, Shingles replaced in 2025 Home is vacant. Age and lot size are estimated,

3. 2010-09-25
   historical
4. 2009-09-25
   listed $59,000

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,296
• − Mortgage interest: −$11,576
• − Property taxes: −$3,100
• − Insurance: −$1,033
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$6,012
• Taxable loss: −$9,712
• Est. tax savings @ 24.0%: +$2,331
• After-tax cash flow: $-3,513/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 · 10 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, including painting, new flooring, and window replacements, to improve its condition and value.

Repairs flagged

• Major Paint — Peeling paint on exterior
• Major Siding — Damaged siding
• Major Flooring — Needs replacement
• Major Interior walls — Paint peeling
• Minor Windows — Some appear old

Value-add opportunities

• Both Paint job — Fresh paint enhances curb appeal and interior
• Both New flooring — New flooring improves aesthetics and functionality
• Both Window replacements — New windows improve energy efficiency and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Peeling paint on exterior	Major	$15,000–50,000
Siding · Damaged siding	Major	$15,000–50,000
Flooring · Needs replacement	Major	$15,000–50,000
Interior walls · Paint peeling	Major	$15,000–50,000
Windows · Some appear old	Minor	$500–3,000
Total estimated repair cost · 5 items		$60,500–203,000

Value-add ROI direction

• Both Paint job — Fresh paint enhances curb appeal and interior ↑
• Both New flooring — New flooring improves aesthetics and functionality ↑
• Both Window replacements — New windows improve energy efficiency and appearance ↑

ⓘ 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: Shelby County
• NCES district ID: 2105320
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 37% ▼ -11.00%
• Median HH income: $58,163
• Composite: 28.19/100
• National rank: #6809
• State rank: #77 of 165 in KY

Livability — Shelbyville

• Score: 75/100
• State rank: #101
• US rank: #4143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, KY
• County: Shelby County · 32,160 people
• City population: 32,160
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 32,160
• Household income: $77,869
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 655.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 52,947 people
• By 2030: 56,624 · +6.9%
• By 2040: 63,983 · +20.8%
• By 2050: 70,917 · +33.9%
• By 2075: 87,345 · +65.0%
• By 2100: 97,345 · +83.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 11% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+34.7) · D 31.8% · R 66.5% · Other 1.7%
• 2008→2024 swing: -10.0pp toward R · 2008: -24.7pp · 2024: -34.7pp
• All cycles: 2024: R+34.7 2020: R+29.6 2016: R+33.6 2012: R+27.6 2008: R+24.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.73%
• Current HPI: 177.2875
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-IN
• 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

4 events — show timeline

• 2026-05-12 Pending — Metro Search MLS
• 2026-04-08 Listed $1 Metro Search MLS
• 2010-09-25 Listing Removed — Metro Search MLS
• 2009-09-25 Listed $59,000 Metro Search MLS

Property tax history

+1.3%/yr

Latest (2025): $253 · -0.9% YoY. Source: county tax records.