100 Martin Luther King Junior St · Shelbyville, KY 40065

$1

2 bd · 1.0 ba · 928 sqft · Other · 34 Days on market

Built 1960 0.25 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Public auction May 9th at 10 AM at the Shelby County Fair Grounds in the Floral Hall. Open House April 19th, 2026, from 2 to 4 PM. Home has 2 bedrooms and 1 bath. Metal roof installed in 2023, new windows and exterior doors installed in 2025. Baseboard heat. Age and lot size are estimated.

Key facts

• Metal roof
• Exterior doors
• New windows

Tags

• METAL ROOF
• NEW WINDOWS
• EXTERIOR DOORS

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $181,774 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $1.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 4.6% vs local median 3.5% in Shelbyville — 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 75/100 on livability (#101 in KY, #4,143 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D, amenities F, commute F.
• Shelby County (town): math 26% / reading 37% proficiency, ranked #77 of 165 in KY (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 292 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 237 units permitted in Shelby County in 2024 (0 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.
• Shelby County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 272660.3% of price.

Recommended offer $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.01%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $181,774
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.6%
• Equity multiple: 0.10×
• Total profit: $-45,665
• Equity at exit: $27,103

10-year hold

• IRR: -23.9%
• Equity multiple: -0.19×
• Total profit: $-60,585
• Equity at exit: $15,716

Cash invested: $50,897 (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 40065

• Active inventory: 292

Monthly cashflow live

• Estimated rent: $1,268 high
• Mortgage (P&I): −$953
• Tax est. 1.5%: −$227 /mo · $2,727/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-255

Break-even live

Break-even rent $1,590

Max offer price $144,901

Occupancy floor —

Sensitivity live

Price	-10% $-129	-5% $-192	+0% $-255	+5% $-318	+10% $-380
Rent	-10% $-355	-5% $-305	+0% $-255	+5% $-205	+10% $-155
Rate	-1.0pp $-163	-0.5pp $-209	base $-255	+0.5pp $-302	+1.0pp $-350

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: $45,443
• Closing costs: $5,453
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Martin Luther King Jr St Shelbyville, KY	2.0	1.0	909	$1,295	$1.42	17d	1	0.04mi
1016 Washington St Unit 2 Shelbyville, KY	1.0	1.0	600	$825	$1.38	24d	1	0.21mi
113 Ada Ave Shelbyville, KY	2.0	1.5	1008	$1,025	$1.02	44d	1	0.55mi
1569 Sanford Ln Shelbyville, KY	1.0–2.0	1.0–2.0	1017	$1,225	$1.20	2d	5	0.72mi
3025 Squire Cir Shelbyville, KY	1.0	1.0	720	$992	$1.38	11d	1	0.82mi
149 Gray Hill Ct Shelbyville, KY	2.0	1.5	1050	$895	$0.85	24d	1	0.93mi
874 Marian Village Dr Shelbyville, KY	2.0–3.0	1.5–2.0	1015	$1,095	$1.08	2d	4	1.17mi
1856 Blackwell Rd Unit 1858 Blackwell Shelbyville, KY	3.0	2.0	1100	$1,695	$1.54	44d	1	1.29mi
1814 Oakwood Dr Shelbyville, KY	3.0	1.0	1050	$1,599	$1.52	44d	1	1.29mi

Listing history 2 events

1. 2026-05-12
   status Pending 290-char remark

   Show marketing remark (290 chars)

   Public auction May 9th at 10 AM at the Shelby County Fair Grounds in the Floral Hall. Open House April 19th, 2026, from 2 to 4 PM. Home has 2 bedrooms and 1 bath. Metal roof installed in 2023, new windows and exterior doors installed in 2025. Baseboard heat. Age and lot size are estimated.

2. 2026-04-08
   listed $1 Active 290-char remark

   Show marketing remark (290 chars)

   Public auction May 9th at 10 AM at the Shelby County Fair Grounds in the Floral Hall. Open House April 19th, 2026, from 2 to 4 PM. Home has 2 bedrooms and 1 bath. Metal roof installed in 2023, new windows and exterior doors installed in 2025. Baseboard heat. Age and lot size are estimated.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,211
• − Mortgage interest: −$10,182
• − Property taxes: −$2,727
• − Insurance: −$909
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$5,288
• Taxable loss: −$6,328
• Est. tax savings @ 24.0%: +$1,519
• After-tax cash flow: $-1,539/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: Shelby County
• NCES district ID: 2105320
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 37% ▼ -11.00%
• Median HH income: $58,163
• Composite: 28.19/100
• National rank: #6809
• State rank: #77 of 165 in KY

Livability — Shelbyville

• Score: 75/100
• State rank: #101
• US rank: #4143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, KY
• County: Shelby County · 32,160 people
• City population: 32,160
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 32,160
• Household income: $77,869
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 655.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 52,947 people
• By 2030: 56,624 · +6.9%
• By 2040: 63,983 · +20.8%
• By 2050: 70,917 · +33.9%
• By 2075: 87,345 · +65.0%
• By 2100: 97,345 · +83.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 11% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+34.7) · D 31.8% · R 66.5% · Other 1.7%
• 2008→2024 swing: -10.0pp toward R · 2008: -24.7pp · 2024: -34.7pp
• All cycles: 2024: R+34.7 2020: R+29.6 2016: R+33.6 2012: R+27.6 2008: R+24.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.73%
• Current HPI: 177.2875
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-IN
• 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

Property tax history

-0.1%/yr

Latest (2025): $304 · -0.9% YoY. Source: county tax records.