1659 Ky-501 · Eubank, KY 40489

$100,000

4 bd · 1.5 ba · 2,250 sqft · Other · 165 Days on market

Average condition 0.31 ac lot $44/sqft · 52% below area ↓ 17% since listing

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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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Investor Special who's looking for a Value-Add Opportunity with a Strong ARV Rare opportunity to reposition a former church (could easily be converted back to a church if desired) with substantial square footage and multiple exit strategies. This 2,250 sq ft main-level property has already been largely converted into a 4-bedroom, 1.5-bath layout, featuring a bonus room, office, and family room — all on one level. Laundry is conveniently located on the main floor and could easily function as a shared common area for future multi-tenant use. The property includes a separate electric meter for the upper level and a 1,250 sq ft unfinished basement, offering excellent potential to add additional bedrooms, expand living space, or convert the property into a duplex or multi-unit investment. The basement is a true blank canvas, ideal for maximizing value and rental income. Renovations on main floor have been started but not completed, allowing the next owner to customize layouts and finishes in select areas upstairs while unlocking significant upside below. HVAC infrastructure is in place with ductwork already run; the fuel oil system will need repair or replacement, but the setup appears ready for straightforward installation of new indoor and outdoor units. According to a recent appraisal, ARV exceeds $215,000.00 presenting a clear opportunity for investors seeking equity creation, BRRRR potential, or a long-term buy-and-hold. With strong bones, flexible configuration options, and substantial square footage, this property is well-suited for experienced investors or owner-occupants looking to add value. Sold as-is. Bring your vision and capitalize on this unique value-add opportunity.

Key facts

• Former church
• Hvac infrastructure
• Unfinished basement

Tags

• FORMER CHURCH
• BONUS ROOM
• SEPARATE ELECTRIC METER
• UNFINISHED BASEMENT
• HVAC INFRASTRUCTURE
• FLEXIBLE CONFIGURATION OPTIONS

🏷️ Possibly a rental listed for sale. The $100,000 price doesn't fit this home's estimated sale value (~$210,042) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $100k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.0% in Eubank — 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 (#262 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.
• Lincoln County (rural): math 20% / reading 35% proficiency, ranked #131 of 165 in KY (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 27 active listings in the ZIP; 91 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.1%/yr); year-one equity from $691 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lincoln County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.29% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.56%
• DSCR: 1.78
• GRM: 6.5

CMA / ARV

• ARV (median comp): $210,042
• List price: $100,000
• Delta: -52.39%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-1.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.65×
• Total profit: $18,282
• Equity at exit: $23,876

10-year hold

• IRR: 20.4%
• Equity multiple: 3.05×
• Total profit: $57,275
• Equity at exit: $24,849

Cash invested: $28,000 (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 40489

• Home prices YoY: -0.5%
• Active inventory: 27
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,287 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$41 /mo · $491/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $410

Break-even live

Break-even rent $768

Max offer price $100,000

Occupancy floor 63%

Sensitivity live

Price	-10% $466	-5% $438	+0% $410	+5% $381	+10% $353
Rent	-10% $308	-5% $359	+0% $410	+5% $460	+10% $511
Rate	-1.0pp $460	-0.5pp $435	base $410	+0.5pp $384	+1.0pp $357

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $100,000 Active 165 DOM
2. 2026-06-18
   days on market $100,000 Active 164 DOM
3. 2026-06-17
   days on market $100,000 Active 163 DOM
4. 2026-06-16
   days on market $100,000 Active 162 DOM
5. 2026-06-15
   days on market $100,000 Active 161 DOM
6. 2026-06-14
   days on market $100,000 Active 159 DOM
7. 2026-06-12
   days on market $100,000 Active 158 DOM
8. 2026-06-09
   days on market $100,000 Active 155 DOM
9. 2026-06-08
   days on market $100,000 Active 154 DOM
10. 2026-06-07
    days on market $100,000 Active 153 DOM
11. 2026-06-07
    days on market $100,000 Active 152 DOM
12. 2026-06-03
    days on market $100,000 Active 149 DOM
13. 2026-06-02
    days on market $100,000 Active 148 DOM
14. 2026-06-01
    days on market $100,000 Active 147 DOM
15. 2026-05-31
    days on market $100,000 Active 146 DOM
16. 2026-05-30
    days on market $100,000 Active 145 DOM
17. 2026-04-20
    price $100,000 1712-char remark

    Show marketing remark (1712 chars)

    Investor Special who's looking for a Value-Add Opportunity with a Strong ARV Rare opportunity to reposition a former church (could easily be converted back to a church if desired) with substantial square footage and multiple exit strategies. This 2,250 sq ft main-level property has already been largely converted into a 4-bedroom, 1.5-bath layout, featuring a bonus room, office, and family room — all on one level. Laundry is conveniently located on the main floor and could easily function as a shared common area for future multi-tenant use. The property includes a separate electric meter for the upper level and a 1,250 sq ft unfinished basement, offering excellent potential to add additional bedrooms, expand living space, or convert the property into a duplex or multi-unit investment. The basement is a true blank canvas, ideal for maximizing value and rental income. Renovations on main floor have been started but not completed, allowing the next owner to customize layouts and finishes in select areas upstairs while unlocking significant upside below. HVAC infrastructure is in place with ductwork already run; the fuel oil system will need repair or replacement, but the setup appears ready for straightforward installation of new indoor and outdoor units. According to a recent appraisal, ARV exceeds $215,000.00 presenting a clear opportunity for investors seeking equity creation, BRRRR potential, or a long-term buy-and-hold. With strong bones, flexible configuration options, and substantial square footage, this property is well-suited for experienced investors or owner-occupants looking to add value. Sold as-is. Bring your vision and capitalize on this unique value-add opportunity.

18. 2026-04-16
    price $110,000 1712-char remark

    Show marketing remark (1712 chars)

    Investor Special who's looking for a Value-Add Opportunity with a Strong ARV Rare opportunity to reposition a former church (could easily be converted back to a church if desired) with substantial square footage and multiple exit strategies. This 2,250 sq ft main-level property has already been largely converted into a 4-bedroom, 1.5-bath layout, featuring a bonus room, office, and family room — all on one level. Laundry is conveniently located on the main floor and could easily function as a shared common area for future multi-tenant use. The property includes a separate electric meter for the upper level and a 1,250 sq ft unfinished basement, offering excellent potential to add additional bedrooms, expand living space, or convert the property into a duplex or multi-unit investment. The basement is a true blank canvas, ideal for maximizing value and rental income. Renovations on main floor have been started but not completed, allowing the next owner to customize layouts and finishes in select areas upstairs while unlocking significant upside below. HVAC infrastructure is in place with ductwork already run; the fuel oil system will need repair or replacement, but the setup appears ready for straightforward installation of new indoor and outdoor units. According to a recent appraisal, ARV exceeds $215,000.00 presenting a clear opportunity for investors seeking equity creation, BRRRR potential, or a long-term buy-and-hold. With strong bones, flexible configuration options, and substantial square footage, this property is well-suited for experienced investors or owner-occupants looking to add value. Sold as-is. Bring your vision and capitalize on this unique value-add opportunity.

19. 2026-01-05
    listed $120,000 Active 1712-char remark

    Show marketing remark (1712 chars)

    Investor Special who's looking for a Value-Add Opportunity with a Strong ARV Rare opportunity to reposition a former church (could easily be converted back to a church if desired) with substantial square footage and multiple exit strategies. This 2,250 sq ft main-level property has already been largely converted into a 4-bedroom, 1.5-bath layout, featuring a bonus room, office, and family room — all on one level. Laundry is conveniently located on the main floor and could easily function as a shared common area for future multi-tenant use. The property includes a separate electric meter for the upper level and a 1,250 sq ft unfinished basement, offering excellent potential to add additional bedrooms, expand living space, or convert the property into a duplex or multi-unit investment. The basement is a true blank canvas, ideal for maximizing value and rental income. Renovations on main floor have been started but not completed, allowing the next owner to customize layouts and finishes in select areas upstairs while unlocking significant upside below. HVAC infrastructure is in place with ductwork already run; the fuel oil system will need repair or replacement, but the setup appears ready for straightforward installation of new indoor and outdoor units. According to a recent appraisal, ARV exceeds $215,000.00 presenting a clear opportunity for investors seeking equity creation, BRRRR potential, or a long-term buy-and-hold. With strong bones, flexible configuration options, and substantial square footage, this property is well-suited for experienced investors or owner-occupants looking to add value. Sold as-is. Bring your vision and capitalize on this unique value-add opportunity.

ⓘ 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: $491 · $41/mo
• Projected year-2 tax: $860 · $72/mo
• Expected delta: +$369/yr (+$31/mo · 75.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,443
• − Mortgage interest: −$5,602
• − Property taxes: −$491
• − Insurance: −$500
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$2,909
• Taxable income: $3,470
• Est. tax owed @ 24.0%: −$833
• After-tax cash flow: $4,083/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 · 9 photos

Average 55/100 Moderate rehab

This property offers a moderate rehab opportunity with potential for significant value increase through interior updates and maintenance.

Repairs flagged

• Moderate Kitchen cabinets — Worn appearance and need for cleaning.
• Moderate Bathroom fixtures — Signs of wear and need for cleaning or replacement.
• Moderate Electrical panel — May need maintenance or upgrade for safety and functionality.
• Moderate HVAC system — May need cleaning or minor repairs for optimal performance.

Value-add opportunities

• Both Paint interior walls — Fresh paint can significantly improve the home's appearance and value.
• Both Replace worn kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal.
• Both Upgrade bathroom fixtures — Modern fixtures can improve the bathroom's functionality and appeal.
• Both Upgrade HVAC system — A new or well-maintained HVAC system can improve comfort and energy efficiency, boosting both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance and need for cleaning.	Moderate	$3,000–15,000
Bathroom fixtures · Signs of wear and need for cleaning or replacement.	Moderate	$3,000–15,000
Electrical panel · May need maintenance or upgrade for safety and functionality.	Moderate	$3,000–15,000
HVAC system · May need cleaning or minor repairs for optimal performance.	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can significantly improve the home's appearance and value. ↑
• Both Replace worn kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal. ↑
• Both Upgrade bathroom fixtures — Modern fixtures can improve the bathroom's functionality and appeal. ↑
• Both Upgrade HVAC system — A new or well-maintained HVAC system can improve comfort and energy efficiency, boosting both resale and rental value. ↑

ⓘ 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: Lincoln County
• NCES district ID: 2103480
• Math proficiency: 20% ▼ -18.00%
• Reading proficiency: 35% ▼ -16.00%
• Median HH income: $35,356
• Composite: 22.68/100
• National rank: #8042
• State rank: #131 of 165 in KY

Livability — Eubank

• Score: 65/100
• State rank: #262
• US rank: #12947

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

• Population (ZIP): 4,238

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 23,293 people
• By 2030: 22,392 · -3.9%
• By 2040: 20,336 · -12.7%
• By 2050: 18,016 · -22.7%
• By 2075: 12,976 · -44.3%
• By 2100: 8,446 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+61.2) · D 18.9% · R 80.0% · Other 1.1%
• 2008→2024 swing: -22.7pp toward R · 2008: -38.5pp · 2024: -61.2pp
• All cycles: 2024: R+61.2 2020: R+57.1 2016: R+57.3 2012: R+41.9 2008: R+38.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.05%
• Current HPI: 233.047
• 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

-16.7% since first listed

3 events — show timeline

• 2026-04-20 Price Changed $100,000 ImagineMLS
• 2026-04-16 Price Changed $110,000 ImagineMLS
• 2026-01-05 Listed $120,000 ImagineMLS

Property tax history

-15.4%/yr

Latest (2025): $491 · -4.3% YoY. Source: county tax records.