811 High St · Albany, KY 42602

$122,900

3 bd · 1.0 ba · 1,394 sqft · SingleFamily public records · 24 Days on market

Built 1942 0.39 ac lot

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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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.3/10.0

Listing remarks

Charming home in Albany city limits is PRICED WELL UNDER last appraised value. This 3 bedroom/2 bath home is conveniently located near the square, grocery stores, hospital and medical offices in Albany. It boasts a spacious living area and a huge primary suite with a large closet and an en suite bathroom with ample storage. The finished attic area offers additional space that would be great for another bedroom or flex/multipurpose room. The home also features a basement, detached garage and two outbuildings.

Key facts

• En suite bathroom
• Finished attic area
• Huge primary suite

Tags

• SPACIOUS LIVING AREA
• HUGE PRIMARY SUITE
• LARGE CLOSET
• EN SUITE BATHROOM
• AMPLE STORAGE
• FINISHED ATTIC AREA

Property features AI

Exterior

• Parking: Detached paved parking; 1 parking space (open parking)
• Utilities: Public water; Public sewer; Electric service with circuit breakers; No natural gas available
• Home design: Single-family residence, site-built; One level
• Construction: Frame construction with vinyl siding; Shingle roof
• Exterior features: Covered, enclosed porch; Patio; Spa / hot tub (bath style)

Interior

• Kitchen: Dishwasher; Refrigerator; Electric range; Microwave; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (electric) heating; Central air conditioning
• Interior features: Master suite on the main level; Basement; Electric fireplace
• Laundry & utility: Washer and dryer (main level laundry)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $11 ($133/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 $109k (11.4% below list).
• Recommended offer: $109k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.3% in Albany — 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 69/100 on livability (#172 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute F.
• Clinton County (rural): math 21% / reading 33% proficiency, ranked #141 of 165 in KY (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 67 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clinton County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $123k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,909 (11.4% below list)

Questions for the listing agent

1. Built in 1942 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.39%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $377,774
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
673 High Ridge Ln	0.10mi	2/1.0 (-1)	1,300 (-7%)	12mo	$352,000	$271	70

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-19,195
• Equity at exit: $18,325

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-15,741
• Equity at exit: $10,626

Cash invested: $34,412 (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 42602

• Home prices YoY: -4.4%
• Active inventory: 67
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,089 medium
• Mortgage (P&I): −$645
• Tax est. 1.5%: −$154 /mo · $1,844/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $11

Break-even live

Break-even rent $1,075

Max offer price $122,900

Occupancy floor 94%

Sensitivity live

Price	-10% $96	-5% $54	+0% $11	+5% $-31	+10% $-74
Rent	-10% $-75	-5% $-32	+0% $11	+5% $54	+10% $97
Rate	-1.0pp $73	-0.5pp $42	base $11	+0.5pp $-21	+1.0pp $-53

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   statusdays on market $122,900 Pending 24 DOM
2. 2026-06-18
   days on market $122,900 Active 23 DOM
3. 2026-06-17
   days on market $122,900 Active 22 DOM
4. 2026-06-16
   days on market $122,900 Active 21 DOM
5. 2026-06-15
   days on market $122,900 Active 20 DOM
6. 2026-06-13
   days on market $122,900 Active 18 DOM
7. 2026-06-12
   days on market $122,900 Active 17 DOM
8. 2026-06-09
   days on market $122,900 Active 14 DOM
9. 2026-06-08
   days on market $122,900 Active 13 DOM
10. 2026-06-07
    days on market $122,900 Active 12 DOM
11. 2026-06-07
    days on market $122,900 Active 11 DOM
12. 2026-06-04
    days on market $122,900 Active 8 DOM
13. 2026-06-02
    days on market $122,900 Active 7 DOM
14. 2026-06-01
    days on market $122,900 Active 6 DOM
15. 2026-05-31
    days on market $122,900 Active 5 DOM
16. 2026-05-31
    days on market $122,900 Active 4 DOM
17. 2026-05-26
    listed $122,900 Active
18. 2019-12-27
    soldstatus $75,000

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 21 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: $13,069
• − Mortgage interest: −$6,884
• − Property taxes: −$1,844
• − Insurance: −$614
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − Depreciation: −$3,575
• Taxable loss: −$1,939
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $598/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: Clinton County
• NCES district ID: 2101260
• Math proficiency: 21% ▼ -9.00%
• Reading proficiency: 33% ▼ -13.00%
• Median HH income: $27,926
• Composite: 21.56/100
• National rank: #8310
• State rank: #141 of 165 in KY

Livability — Albany

• Score: 69/100
• State rank: #172
• US rank: #8690

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, KY
• Population (ZIP): 9,138

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 9,900 people
• By 2030: 9,718 · -1.8%
• By 2040: 9,381 · -5.2%
• By 2050: 9,058 · -8.5%
• By 2075: 8,540 · -13.7%
• By 2100: 8,045 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Serbian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clinton

• 2024 margin: Solid R (+76.4) · D 11.2% · R 87.6% · Other 1.1%
• 2008→2024 swing: -13.9pp toward R · 2008: -62.4pp · 2024: -76.4pp
• All cycles: 2024: R+76.4 2020: R+74.5 2016: R+73.2 2012: R+64.1 2008: R+62.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.48%
• Current HPI: 205.6426
• 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

+63.9% since first listed

2 events — show timeline

• 2026-05-26 Listed $122,900 UCMLS
• 2019-12-27 Sold (Public Records) $75,000 Public Records

Property tax history

+20.8%/yr

Latest (2024): $238 · -0.8% YoY. Source: county tax records.