1104 Locust St · Owensboro, KY 42301

$118,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 4 Days on market

Built 1941 6,600 sqft lot Est $98k · 21% over

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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 +16.3/30.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

For Sale Or Trade! This Home Qualifies For a 6.75% Fixed Interest Rate For 30 Years Through The Kentucky Housing Program Ask For Details!!! Welcome to the Heart of Owensboro Living! Nestled in the vibrant heart of Owensboro, this charming home invites you to experience the perfect blend of convenience and comfort. With the downtown pulse just a leisurely stroll away, immerse yourself in the dynamic lifestyle this prime location has to offer. Key Features: Central Location: Explore the thriving downtown scene, trendy cafes, and cultural hotspots, all within easy walking distance from your doorstep. Well-Maintained Home: Enjoy the peace of mind that comes with a newer roof, ensuring durability and protection against the elements. Fenced-In Yard: Your private oasis awaits! A fenced-in yard provides the ideal space for relaxation, entertaining, and play, offering both security and seclusion. Full Unfinished Basement: Imagine the possibilities! The full unfinished basement is a blank canvas, ready for your personal touch and creative vision. Whether you dream of a home gym, workshop, or additional living space, the potential is limitless. $0 Down with Kentucky Housing Program Make your homeownership dreams a reality with the Kentucky Housing Conventional Loan Program. Take advantage of this fantastic opportunity to secure your home with no down payment—ask for details today! Don't miss out on this incredible opportunity to own a piece of Owensboro's charm. Act fast, as homes like these don't stay on the market for long!

Key facts

• Gazebo
• Storage building
• 6,600 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORING
• FULLY FENCED-IN BACKYARD
• GAZEBO
• STORAGE BUILDING

Property features AI

Finance

• Other: Located in MORELAND PARK subdivision

Exterior

• Parking: Asphalt parking
• Utilities: Natural gas available; Public sewer
• Home design: Manufactured home (single-family residential); Single-story
• Construction: Frame construction; Built area above grade: 720
• Exterior features: Shingle roof; Level lot; Gazebo; Storage structure

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Partially finished basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $64 ($774/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 $96k (18.5% below list).
• Recommended offer: $96k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.1% in Owensboro — 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 71/100 on livability (#148 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime D-, amenities F.
• Owensboro Independent (urban): math 27% / reading 36% proficiency, ranked #100 of 165 in KY (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Foust Elementary School (math 23% / reading 31%, grade F, #434 of 676 statewide, top 69%, 411 students, 88% FRL); Owensboro Middle School (math 25% / reading 34%, grade F, #151 of 217 statewide, top 71%, 807 students, 74% FRL); Owensboro High School (math 30% / reading 40%, grade F, #74 of 254 statewide, top 29%, 1,334 students, 58% FRL).
• Market conditions: 301 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).
• This rent is only 17% of the median local income ($67k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Daviess County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 13y 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.
• Current owner paid $100k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• 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 $96,150 (18.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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?
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: 0.81% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.34%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $97,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 Locust St	0.03mi	2/1.0	798 (+11%)	12mo	$117,500	$147	71
1101 W 11th St	0.36mi	1/1.0 (-1)	616 (-14%)	5mo	$84,000	$136	50
1012 W Third St	0.65mi	1/1.0 (-1)	784 (+9%)	4mo	$42,000	$54	47

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: -12.7%
• Equity multiple: 0.54×
• Total profit: $-15,074
• Equity at exit: $17,594

10-year hold

• IRR: -3.7%
• Equity multiple: 0.76×
• Total profit: $-8,081
• Equity at exit: $10,202

Cash invested: $33,040 (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 42301

• Home prices YoY: -31.0%
• Active inventory: 301
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $962 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$27 /mo · $326/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $64

Break-even live

Break-even rent $880

Max offer price $118,000

Occupancy floor 88%

Sensitivity live

Price	-10% $131	-5% $98	+0% $64	+5% $31	+10% $-2
Rent	-10% $-11	-5% $26	+0% $64	+5% $102	+10% $140
Rate	-1.0pp $124	-0.5pp $94	base $64	+0.5pp $34	+1.0pp $3

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2025 W 4th St Unit 10 Owensboro, KY	1.0	1.0	500	$550	$1.10	23d	1	1.20mi
405 Legion Blvd W Unit E58 Owensboro, KY	1.0	1.0	600	$700	$1.17	45d	1	1.41mi

Listing history 4 events

1. 2026-06-21
   days on market $118,000 Active 4 DOM
2. 2026-06-19
   days on market $118,000 Active 2 DOM
3. 2026-06-18
   remarks 418-char remark
4. 2026-06-18
   listed $118,000 Active 1 DOM

ⓘ 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: $326 · $27/mo
• Projected year-2 tax: $1,015 · $85/mo
• Expected delta: +$689/yr (+$57/mo · 211.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,538
• − Mortgage interest: −$6,610
• − Property taxes: −$326
• − Insurance: −$590
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$3,433
• Taxable loss: −$1,266
• Est. tax savings @ 24.0%: +$304
• After-tax cash flow: $1,078/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: Owensboro Independent
• NCES district ID: 2104590
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $33,020
• Composite: 25.79/100
• National rank: #7364
• State rank: #100 of 165 in KY

Livability — Owensboro

• Score: 71/100
• State rank: #148
• US rank: #7153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owensboro, KY
• County: Daviess County · 87,564 people
• City population: 87,564
• Metro: Owensboro, KY
• Population (ZIP): 45,445
• Household income: $66,885
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 1228.0

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 103,810 people
• By 2030: 105,722 · +1.8%
• By 2040: 108,731 · +4.7%
• By 2050: 110,295 · +6.2%
• By 2075: 113,056 · +8.9%
• By 2100: 106,257 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Slovak 3% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -21.8pp toward R · 2008: -10.1pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+27.9 2016: R+32.2 2012: R+21.1 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.96%
• Current HPI: 238.2395
• Rent YoY: —
• Metro: Owensboro, KY
• 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

+136.5% since first listed

11 events — show timeline

• 2026-06-17 Listed $118,000 GORAMLS
• 2023-12-29 Sold (Public Records) $99,900 Public Records
• 2023-12-22 Sold (MLS) $99,900 GORAMLS
• 2023-11-18 Pending — GORAMLS
• 2023-11-14 Listed $99,900 GORAMLS
• 2022-09-02 Sold (Public Records) $87,550 Public Records
• 2022-08-19 Sold (MLS) $87,550 GORAMLS
• 2022-07-08 Listed $85,000 GORAMLS
• 2022-05-06 Listed $75,000 GORAMLS
• 2013-02-12 Sold (MLS) $49,000 GORAMLS
• 2013-01-06 Listed $49,900 GORAMLS

Property tax history

-7.0%/yr

Latest (2025): $326 · -3.3% YoY. Source: county tax records.