3315 Hovekamp Rd · Farley, KY 42003

$55,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily · 35 Days on market

Built 1975 6,098 sqft lot $55/sqft · 53% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated sellers. Charming 3 bedroom, 1 bath home located in Paducah city limits! This 1-story home offers approximately 1,008 square feet with wood and tile flooring, central heat and air, vinyl frame windows, and a durable metal roof. The kitchen comes equipped with a refrigerator and stove, and the home also features a covered 2-car carport. Situated on a level lot with public water and sewer, this property offers immediate possession with deed and convenient access to shopping, dining, schools, and I-24. Great opportunity for a first-time buyer, downsizer, or investment property!

Key facts

• Vinyl frame windows
• Durable metal roof
• Central heat and air

Tags

• WOOD AND TILE FLOORING
• CENTRAL HEAT AND AIR
• VINYL FRAME WINDOWS
• DURABLE METAL ROOF
• COVERED 2-CAR CARPORT
• LEVEL LOT

Property features AI

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story
• Construction: Metal roof
• Exterior features: Level lot; Gravel road access

Interior

• Kitchen: Cooktop; Refrigerator
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Refrigerator; Cooktop; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#359 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: employment D, amenities F, commute F.
• Mccracken County (town): math 41% / reading 52% proficiency, ranked #16 of 165 in KY (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Reidland Elementary School (math 22% / reading 32%, grade F, #434 of 676 statewide, top 69%, 587 students, 70% FRL); Reidland Middle School (math 36% / reading 47%, grade F, #51 of 217 statewide, top 24%, 330 students, 64% FRL); Mccracken County High School (math 30% / reading 44%, grade F, #58 of 254 statewide, top 27%, 1,999 students, 43% FRL) — zoned schools average 59% FRL vs 41% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 268 active listings in the ZIP; 187 units permitted in McCracken County in 2024 (104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• McCracken County population projected to shrink 9% 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.95% ✓
• Cap rate: 16.74%
• Cash-on-cash: 37.31%
• DSCR: 2.66
• GRM: 4.3

CMA / ARV

• ARV (median comp): $117,089
• List price: $55,000
• Delta: -53.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Virginia St	0.32mi	3/1.5	1,065 (+6%)	10mo	$95,000	$89	65
3236 Estes Ln	0.38mi	2/1.0 (-1)	1,000 (-1%)	22mo	$135,000	$135	57
3029 Estes Ln	0.53mi	3/2.0	984 (-2%)	12mo	$154,000	$157	57
3328 Rudd St	0.36mi	2/1.0 (-1)	910 (-10%)	17mo	$110,000	$121	48
134 Arizona St	0.33mi	3/1.0	1,144 (+14%)	23mo	$50,000	$44	43

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: 33.3%
• Equity multiple: 2.40×
• Total profit: $21,595
• Equity at exit: $8,201

10-year hold

• IRR: 40.2%
• Equity multiple: 4.77×
• Total profit: $58,115
• Equity at exit: $4,755

Cash invested: $15,400 (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 42003

• Home prices YoY: -19.8%
• Active inventory: 268
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$58 /mo · $701/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $479

Break-even live

Break-even rent $468

Max offer price $55,000

Occupancy floor 50%

Sensitivity live

Price	-10% $510	-5% $494	+0% $479	+5% $463	+10% $448
Rent	-10% $394	-5% $436	+0% $479	+5% $521	+10% $564
Rate	-1.0pp $507	-0.5pp $493	base $479	+0.5pp $465	+1.0pp $450

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $55,000 Active 35 DOM
2. 2026-06-18
   remarks 591-char remark
3. 2026-06-18
   price $55,000 Active 34 DOM
4. 2026-06-18
   days on market $69,900 Active 34 DOM
5. 2026-06-17
   days on market $69,900 Active 33 DOM
6. 2026-06-17
   days on market $69,900 Active 32 DOM
7. 2026-06-14
   days on market $69,900 Active 31 DOM
8. 2026-06-12
   days on market $69,900 Active 30 DOM
9. 2026-06-09
   days on market $69,900 Active 27 DOM
10. 2026-06-08
    days on market $69,900 Active 26 DOM
11. 2026-06-07
    days on market $69,900 Active 25 DOM
12. 2026-06-05
    pricedays on market $69,900 Active 22 DOM
13. 2026-06-03
    days on market $79,900 Active 21 DOM
14. 2026-06-02
    days on market $79,900 Active 20 DOM
15. 2026-06-01
    days on market $79,900 Active 19 DOM
16. 2026-05-31
    days on market $79,900 Active 18 DOM
17. 2026-05-30
    days on market $79,900 Active 17 DOM
18. 2026-05-13
    listed $79,900 Active 572-char remark
19. 2005-09-19
    soldstatus $45,000

ⓘ 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: $701 · $58/mo
• Projected year-2 tax: $701 · $58/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $12,890
• − Mortgage interest: −$3,081
• − Property taxes: −$701
• − Insurance: −$275
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$1,600
• Taxable income: $5,171
• Est. tax owed @ 24.0%: −$1,241
• After-tax cash flow: $4,505/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: Mccracken County
• NCES district ID: 2103960
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 52% ▼ -15.00%
• Median HH income: $49,976
• Composite: 39.84/100
• National rank: #3871
• State rank: #16 of 165 in KY

Livability — Farley

• Score: 62/100
• State rank: #359
• US rank: #17178

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farley, KY
• Population (ZIP): 29,384

Population outlook (McCracken County) Hauer SSP2

• Today (2025): 64,237 people
• By 2030: 63,468 · -1.2%
• By 2040: 61,221 · -4.7%
• By 2050: 58,432 · -9.0%
• By 2075: 52,668 · -18.0%
• By 2100: 44,517 · -30.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · McCracken

• 2024 margin: Solid R (+34.9) · D 31.9% · R 66.8% · Other 1.2%
• 2008→2024 swing: -9.7pp toward R · 2008: -25.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+31.7 2016: R+37.2 2012: R+32.5 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.31%
• Current HPI: 236.3013
• 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

+55.3% since first listed

4 events — show timeline

• 2026-06-16 Relisted — WKRMLS
• 2026-06-04 Price Changed $69,900 WKRMLS
• 2026-05-13 Listed $79,900 WKRMLS
• 2005-09-19 Sold (Public Records) $45,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $701 · -1.8% YoY. Source: county tax records.