500 N High St · Franklin, KY 42134

$170,000

2 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 76 Days on market

Built 1948 9,147 sqft lot $123/sqft · 14% below area Est $197k · 14% under

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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 +15.6/30.0
• ARV discount +13.6/15.0
• DSCR +4.8/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

House is in the middle of renovations that have been halted. Great opportunity to come and create and make this property your own. Back yard fenced with deep corner lot that backs to alley with in walking/biking distance to Franklin Square. Convenient to much!!

Key facts

• Deep corner lot
• Back yard fenced
• 9,147 sq ft lot

Tags

• BACK YARD FENCED
• DEEP CORNER LOT
• WALKING BIKING DISTANCE

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $72 ($865/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 $146k (14.3% below list).
• Recommended offer: $146k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.9% in Franklin — 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 (#266 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Simpson County (town): math 29% / reading 39% proficiency, ranked #72 of 165 in KY (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Simpson Elementary School (math 26% / reading 27%, grade F, #469 of 676 statewide, top 70%, 726 students, 69% FRL); Franklin-Simpson Middle School (math 29% / reading 39%, grade F, #103 of 217 statewide, top 48%, 687 students, 69% FRL); Franklin-Simpson High School (math 27% / reading 42%, grade F, #76 of 254 statewide, top 34%, 817 students, 63% FRL) — zoned schools average 67% FRL vs 52% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 282 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 204 units permitted in Simpson County in 2024 (31 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.
• Simpson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,748 (14.3% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (median comp): $196,750
• List price: $170,000
• Delta: -13.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Bell St	0.11mi	3/1.0 (+1)	1,313 (-5%)	1mo	$175,000	$133	81
401 N High St	0.09mi	3/1.0 (+1)	1,248 (-10%)	0mo	$188,500	$151	74
301 N College St	0.22mi	2/1.0	1,542 (+12%)	1mo	$239,250	$155	70
401 W Washington St	0.27mi	2/2.0	1,318 (-4%)	11mo	$222,000	$168	67
418 Longview Dr	0.55mi	3/2.0 (+1)	1,415 (+2%)	6mo	$269,900	$191	56
612 Merle Ave	0.52mi	3/2.0 (+1)	1,296 (-6%)	7mo	$247,325	$191	51
618 Merle Ave	0.54mi	3/2.0 (+1)	1,296 (-6%)	8mo	$262,560	$203	49
701 Phillips St	0.70mi	3/1.5 (+1)	1,321 (-4%)	7mo	$210,000	$159	47
309 Mcgoodwin Ave	0.38mi	3/1.0 (+1)	1,192 (-14%)	10mo	$113,000	$95	46
1014 Cohen Ln	0.61mi	3/2.0 (+1)	1,533 (+11%)	4mo	$254,000	$166	41
428 Westview Dr	0.73mi	3/2.0 (+1)	1,200 (-13%)	2mo	$130,000	$108	34
702 Tyler St	0.70mi	3/2.0 (+1)	1,236 (-10%)	10mo	$229,900	$186	32

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-22,993
• Equity at exit: $25,348

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-14,260
• 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 42134

• Home prices YoY: -27.7%
• Active inventory: 282
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$891
• Tax from tax record: −$117 /mo · $1,404/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $72

Break-even live

Break-even rent $1,366

Max offer price $170,000

Occupancy floor 90%

Sensitivity live

Price	-10% $168	-5% $120	+0% $72	+5% $24	+10% $-24
Rent	-10% $-43	-5% $15	+0% $72	+5% $130	+10% $187
Rate	-1.0pp $158	-0.5pp $115	base $72	+0.5pp $28	+1.0pp $-17

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 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Walker St Apt B Franklin, KY	3.0	2.5	1150	$1,750	$1.52	45d	1	0.03mi
413 E Madison St Franklin, KY	2.0	1.0	1000	$1,300	$1.30	45d	1	0.62mi
834 N Main St Unit 40 Franklin, KY	3.0	2.0	1280	$1,295	$1.01	45d	1	0.70mi
834 N Main St Unit 28 Franklin, KY	3.0	2.0	1000	$1,195	$1.20	45d	1	0.70mi
834 N Main St Unit 27 Franklin, KY	2.0	1.0	980	$1,000	$1.02	45d	1	0.71mi
813 W Madison St Franklin, KY	1.0–2.0	1.0–2.0	788	$1,195	$1.52	3d	7	0.77mi
845 W Madison St Unit 20 Franklin, KY	2.0	1.0	900	$999	$1.11	22d	1	0.96mi
845 W Madison St Franklin, KY	1.0–2.0	1.0	900	$999	$1.11	14d	4	0.96mi
845 W Madison St Unit 2 Franklin, KY	1.0	1.0	900	$850	$0.94	22d	1	0.96mi
411 Fairview Ave Apt C Franklin, KY	3.0	1.5	1450	$1,250	$0.86	25d	1	1.12mi
965 W Madison St Apt C2 Franklin, KY	2.0	2.0	1070	$1,025	$0.96	22d	1	1.20mi
801 Blackjack Rd Unit 1203 Franklin, KY	2.0	2.0	1097	$1,200	$1.09	45d	1	1.33mi
801 Blackjack Rd Franklin, KY	2.0–3.0	2.0	1171	$1,200	$1.02	14d	5	1.33mi
801 Blackjack Rd Unit 1101 Franklin, KY	3.0	2.0	1245	$1,425	$1.14	45d	1	1.33mi
1248 Derek Dr Franklin, KY	3.0	2.0	1200	$1,650	$1.38	14d	1	1.34mi
1248 Derek Dr Franklin, KY	3.0	2.0	1200	$1,650	$1.38	22d	1	1.34mi
811 Witt Rd Franklin, KY	3.0	2.0	1550	$2,195	$1.42	22d	1	1.35mi
1500 Easton St Unit 15106 Franklin, KY	2.0	1.5	1220	$1,395	$1.14	14d	1	1.37mi

Listing history 23 events

1. 2026-06-17
   days on market $170,000 Active 76 DOM
2. 2026-06-16
   days on market $170,000 Active 75 DOM
3. 2026-06-15
   days on market $170,000 Active 74 DOM
4. 2026-06-14
   days on market $170,000 Active 72 DOM
5. 2026-06-13
   days on market $170,000 Active 71 DOM
6. 2026-06-10
   days on market $170,000 Active 69 DOM
7. 2026-06-09
   days on market $170,000 Active 68 DOM
8. 2026-06-08
   days on market $170,000 Active 67 DOM
9. 2026-06-07
   days on market $170,000 Active 66 DOM
10. 2026-06-03
    days on market $170,000 Active 62 DOM
11. 2026-06-02
    days on market $170,000 Active 61 DOM
12. 2026-06-01
    days on market $170,000 Active 60 DOM
13. 2026-05-31
    days on market $170,000 Active 59 DOM
14. 2026-05-30
    days on market $170,000 Active 58 DOM
15. 2026-05-08
    price $170,000 261-char remark

    Show marketing remark (261 chars)

    House is in the middle of renovations that have been halted. Great opportunity to come and create and make this property your own. Back yard fenced with deep corner lot that backs to alley with in walking/biking distance to Franklin Square. Convenient to much!!

16. 2026-05-08
    price $170,000 261-char remark

    Show marketing remark (261 chars)

    House is in the middle of renovations that have been halted. Great opportunity to come and create and make this property your own. Back yard fenced with deep corner lot that backs to alley with in walking/biking distance to Franklin Square. Convenient to much!!

17. 2026-04-02
    listed $180,000 Active 261-char remark

    Show marketing remark (261 chars)

    House is in the middle of renovations that have been halted. Great opportunity to come and create and make this property your own. Back yard fenced with deep corner lot that backs to alley with in walking/biking distance to Franklin Square. Convenient to much!!

18. 2026-04-02
    listed $180,000 Active 261-char remark

    Show marketing remark (261 chars)

    House is in the middle of renovations that have been halted. Great opportunity to come and create and make this property your own. Back yard fenced with deep corner lot that backs to alley with in walking/biking distance to Franklin Square. Convenient to much!!

19. 2025-06-19
    listed $180,000 Active
20. 2023-03-22
    soldstatus $160,000 Closed
21. 2023-03-17
    soldstatus $160,000
22. 2023-02-03
    historical Active Under Contract
23. 2023-01-22
    listed $150,000 Active

ⓘ 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: $1,404 · $117/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$58/yr (+$5/mo · 4.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,490
• − Mortgage interest: −$9,523
• − Property taxes: −$1,404
• − Insurance: −$850
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − Depreciation: −$4,945
• Taxable loss: −$2,031
• Est. tax savings @ 24.0%: +$487
• After-tax cash flow: $1,352/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: Simpson County
• NCES district ID: 2105400
• Math proficiency: 29% ▼ -18.00%
• Reading proficiency: 39% ▼ -16.00%
• Median HH income: $41,691
• Composite: 28.69/100
• National rank: #6692
• State rank: #72 of 165 in KY

Livability — Franklin

• Score: 65/100
• State rank: #266
• US rank: #13010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, KY
• County: Simpson County · 19,380 people
• City population: 19,380
• Metro: nan
• Population (ZIP): 19,380
• Household income: $59,113
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 576.0

Population outlook (Simpson County) Hauer SSP2

• Today (2025): 19,331 people
• By 2030: 19,921 · +3.1%
• By 2040: 20,975 · +8.5%
• By 2050: 21,736 · +12.4%
• By 2075: 23,536 · +21.8%
• By 2100: 23,054 · +19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 4% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Simpson

• 2024 margin: Solid R (+43.9) · D 27.4% · R 71.2% · Other 1.4%
• 2008→2024 swing: -21.1pp toward R · 2008: -22.7pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+36.7 2016: R+39.0 2012: R+24.1 2008: R+22.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.92%
• Current HPI: 221.6725
• Rent YoY: —
• Metro: nan
• 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

+13.3% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $170,000 REALTRACS as Distributed by MLS Grid
• 2026-05-08 Price Changed $170,000 RASKMLS
• 2026-04-02 Listed $180,000 REALTRACS as Distributed by MLS Grid
• 2026-04-02 Listed $180,000 RASKMLS
• 2025-06-19 Listed $180,000 RASKMLS
• 2023-03-22 Sold (MLS) $160,000 RASKMLS
• 2023-03-17 Sold (Public Records) $160,000 Public Records
• 2023-02-03 Contingent — RASKMLS
• 2023-01-22 Listed $150,000 RASKMLS

Property tax history

+14.7%/yr

Latest (2025): $1,404 · -0.8% YoY. Source: county tax records.