2829 Carter Ave · Ashland, KY 41101

$102,000

3 bd · 2.0 ba · 1,560 sqft · Other · 114 Days on market

Built 1935 $65/sqft · 65% above area

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Why this score? — see what drove the C+ 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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming two-story home located in the heart of Ashland, Kentucky, just a Stone’s throw away from KDMC and a variety of local amenities. This delightful residence features three spacious bedrooms, with a potential for a fourth, making it perfect for growing families or those seeking extra space. Enjoy two modern bathrooms that provide convenience and comfort. Parking is readily available both in front of the house, and in the rear, offering easy access for you and your guests. Don’t miss this opportunity to make this lovely home your own. * In Short Sale Approval * * Sold AS-IS *

Key facts

• Built 1935
• Listed 113 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $102k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• Recommended offer: $93k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.4% in Ashland — 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 64/100 on livability (#304 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Ashland Independent (urban): math 32% / reading 44% proficiency, ranked #49 of 165 in KY (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 100 active listings in the ZIP; 2 units permitted in Boyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $705 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Boyd County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $92,820 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.14% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• GRM: 7.3

CMA / ARV

• ARV (median comp): $61,972
• List price: $102,000
• Delta: 64.59%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,951
• Equity at exit: $15,209

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $25,412
• Equity at exit: $8,819

Cash invested: $28,560 (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 41101

• Active inventory: 100
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$535
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $291

Break-even live

Break-even rent $795

Max offer price $102,000

Occupancy floor 70%

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: $25,500
• Closing costs: $3,060
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $102,000 Active 114 DOM
2. 2026-06-17
   days on market $102,000 Active 113 DOM
3. 2026-06-16
   days on market $102,000 Active 112 DOM
4. 2026-06-15
   days on market $102,000 Active 111 DOM
5. 2026-06-13
   days on market $102,000 Active 109 DOM
6. 2026-06-12
   days on market $102,000 Active 108 DOM
7. 2026-06-09
   days on market $102,000 Active 105 DOM
8. 2026-06-08
   days on market $102,000 Active 104 DOM
9. 2026-06-07
   days on market $102,000 Active 103 DOM
10. 2026-06-07
    days on market $102,000 Active 102 DOM
11. 2026-06-04
    days on market $102,000 Active 99 DOM
12. 2026-06-02
    days on market $102,000 Active 98 DOM
13. 2026-06-01
    days on market $102,000 Active 97 DOM
14. 2026-05-31
    days on market $102,000 Active 96 DOM
15. 2026-05-31
    days on market $102,000 Active 95 DOM
16. 2026-03-20
    price $102,000 616-char remark

    Show marketing remark (616 chars)

    Welcome to this charming two-story home located in the heart of Ashland, Kentucky, just a Stone’s throw away from KDMC and a variety of local amenities. This delightful residence features three spacious bedrooms, with a potential for a fourth, making it perfect for growing families or those seeking extra space. Enjoy two modern bathrooms that provide convenience and comfort. Parking is readily available both in front of the house, and in the rear, offering easy access for you and your guests. Don’t miss this opportunity to make this lovely home your own. * In Short Sale Approval * * Sold AS-IS *

17. 2026-02-24
    listed $112,000 Active 616-char remark

    Show marketing remark (616 chars)

    Welcome to this charming two-story home located in the heart of Ashland, Kentucky, just a Stone’s throw away from KDMC and a variety of local amenities. This delightful residence features three spacious bedrooms, with a potential for a fourth, making it perfect for growing families or those seeking extra space. Enjoy two modern bathrooms that provide convenience and comfort. Parking is readily available both in front of the house, and in the rear, offering easy access for you and your guests. Don’t miss this opportunity to make this lovely home your own. * In Short Sale Approval * * Sold AS-IS *

18. 2025-10-09
    status Active
19. 2025-08-17
    price $115,000
20. 2025-08-01
    price $120,000
21. 2025-07-12
    price $125,000
22. 2025-06-28
    listed $130,000 Active
23. 2023-06-20
    soldstatus $97,000
24. 2023-06-16
    soldstatus $97,000 Closed
25. 2023-04-28
    historical Active Under Contract
26. 2023-04-13
    price $99,900
27. 2023-03-16
    status Active
28. 2023-03-06
    historical Active Under Contract
29. 2023-02-02
    listed $105,000 Active
30. 1991-10-24
    soldstatus $20,000

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: +$271/yr (+$23/mo · 44.6%)

ⓘ 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 ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,953
• − Mortgage interest: −$5,714
• − Property taxes: −$607
• − Insurance: −$510
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$2,967
• Taxable income: $1,923
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $3,026/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: Ashland Independent
• NCES district ID: 2100150
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $36,579
• Composite: 31.51/100
• National rank: #5971
• State rank: #49 of 165 in KY

Livability — Ashland

• Score: 64/100
• State rank: #304
• US rank: #14462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, KY
• City population: 19,331
• Population (ZIP): 19,331

Population outlook (Boyd County) Hauer SSP2

• Today (2025): 46,137 people
• By 2030: 44,585 · -3.4%
• By 2040: 41,442 · -10.2%
• By 2050: 38,313 · -17.0%
• By 2075: 31,077 · -32.6%
• By 2100: 23,432 · -49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Boyd

• 2024 margin: Solid R (+38.5) · D 30.0% · R 68.6% · Other 1.4%
• 2008→2024 swing: -26.2pp toward R · 2008: -12.3pp · 2024: -38.5pp
• All cycles: 2024: R+38.5 2020: R+33.2 2016: R+37.0 2012: R+16.3 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.83%
• Current HPI: 148.0076
• 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

+410.0% since first listed

15 events — show timeline

• 2026-03-20 Price Changed $102,000 AABOR
• 2026-02-24 Listed $112,000 AABOR
• 2025-10-09 Relisted — AABOR
• 2025-08-17 Price Changed $115,000 AABOR
• 2025-08-01 Price Changed $120,000 AABOR
• 2025-07-12 Price Changed $125,000 AABOR
• 2025-06-28 Listed $130,000 AABOR
• 2023-06-20 Sold (Public Records) $97,000 Public Records
• 2023-06-16 Sold (MLS) $97,000 AABOR
• 2023-04-28 Contingent — AABOR
• 2023-04-13 Price Changed $99,900 AABOR
• 2023-03-16 Relisted — AABOR
• 2023-03-06 Contingent — AABOR
• 2023-02-02 Listed $105,000 AABOR
• 1991-10-24 Sold (Public Records) $20,000 Public Records

Property tax history

+10.4%/yr

Latest (2025): $607 · -1.2% YoY. Source: county tax records.