1669 Glendale Ave · Owensboro, KY 42303

$22,999

2 bd · 1.0 ba · 560 sqft · SingleFamily public records · 97 Days on market

Built 1938 4,032 sqft lot $41/sqft · 70% below area ↓ 21% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is being sold strictly AS-IS, WHERE-IS with no repairs, warranties, or concessions from the seller. The home is in poor condition and is being marketed primarily as an investment or redevelopment opportunity. Seller will not make any repairs or improvements under any circumstances. Inspections are for buyer’s informational purposes only, and the seller will not negotiate based on inspection findings. The property may not qualify for traditional financing; cash or renovation loans are strongly recommended. All personal property and contents currently on the premises will convey with the sale. Buyers should conduct their own due diligence prior to submitting an offer.

Key facts

• 4,032 sq ft lot
• Built 1938
• Listed 96 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $23k).
• Recommended offer: $21k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.1% 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.
• Market conditions: 360 active listings in the ZIP; 226 units permitted in Daviess County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $159 of loan paydown is wiped out by about $690 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $20,929 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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. 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?
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: 4.33% ✓
• Cap rate: 40.15%
• Cash-on-cash: 120.91%
• DSCR: 6.38
• GRM: 1.9

CMA / ARV

• ARV (median comp): $76,634
• List price: $22,999
• Delta: -69.99%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1611 Norris Ave	0.38mi	1/1.0 (-1)	576 (+3%)	22mo	$75,000	$130	54
814 Stone St	0.18mi	1/1.0 (-1)	630 (+12%)	22mo	$67,500	$107	48

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: —
• Equity multiple: 6.84×
• Total profit: $37,600
• Equity at exit: $3,429

10-year hold

• IRR: —
• Equity multiple: 14.35×
• Total profit: $85,963
• Equity at exit: $1,989

Cash invested: $6,440 (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 42303

• Home prices YoY: -29.1%
• Active inventory: 360
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$121
• Tax from tax record: −$8 /mo · $96/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $649

Break-even live

Break-even rent $175

Max offer price $22,999

Occupancy floor 30%

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $22,999 Active 97 DOM
2. 2026-06-18
   days on market $22,999 Active 96 DOM
3. 2026-06-17
   days on market $22,999 Active 95 DOM
4. 2026-06-16
   days on market $22,999 Active 94 DOM
5. 2026-06-15
   days on market $22,999 Active 93 DOM
6. 2026-06-14
   days on market $22,999 Active 91 DOM
7. 2026-06-13
   days on market $22,999 Active 90 DOM
8. 2026-06-10
   days on market $22,999 Active 88 DOM
9. 2026-06-09
   days on market $22,999 Active 87 DOM
10. 2026-06-08
    days on market $22,999 Active 86 DOM
11. 2026-06-07
    days on market $22,999 Active 85 DOM
12. 2026-06-05
    days on market $22,999 Active 82 DOM
13. 2026-06-02
    days on market $22,999 Active 80 DOM
14. 2026-06-01
    days on market $22,999 Active 79 DOM
15. 2026-05-31
    days on market $22,999 Active 78 DOM
16. 2026-05-30
    days on market $22,999 Active 77 DOM
17. 2026-05-12
    status Active 689-char remark

    Show marketing remark (689 chars)

    Property is being sold strictly AS-IS, WHERE-IS with no repairs, warranties, or concessions from the seller. The home is in poor condition and is being marketed primarily as an investment or redevelopment opportunity. Seller will not make any repairs or improvements under any circumstances. Inspections are for buyer’s informational purposes only, and the seller will not negotiate based on inspection findings. The property may not qualify for traditional financing; cash or renovation loans are strongly recommended. All personal property and contents currently on the premises will convey with the sale. Buyers should conduct their own due diligence prior to submitting an offer.

18. 2026-05-12
    price $22,999 689-char remark

    Show marketing remark (689 chars)

    Property is being sold strictly AS-IS, WHERE-IS with no repairs, warranties, or concessions from the seller. The home is in poor condition and is being marketed primarily as an investment or redevelopment opportunity. Seller will not make any repairs or improvements under any circumstances. Inspections are for buyer’s informational purposes only, and the seller will not negotiate based on inspection findings. The property may not qualify for traditional financing; cash or renovation loans are strongly recommended. All personal property and contents currently on the premises will convey with the sale. Buyers should conduct their own due diligence prior to submitting an offer.

19. 2026-04-16
    price $25,999 689-char remark

    Show marketing remark (689 chars)

    Property is being sold strictly AS-IS, WHERE-IS with no repairs, warranties, or concessions from the seller. The home is in poor condition and is being marketed primarily as an investment or redevelopment opportunity. Seller will not make any repairs or improvements under any circumstances. Inspections are for buyer’s informational purposes only, and the seller will not negotiate based on inspection findings. The property may not qualify for traditional financing; cash or renovation loans are strongly recommended. All personal property and contents currently on the premises will convey with the sale. Buyers should conduct their own due diligence prior to submitting an offer.

20. 2026-03-30
    price $27,500 689-char remark

    Show marketing remark (689 chars)

    Property is being sold strictly AS-IS, WHERE-IS with no repairs, warranties, or concessions from the seller. The home is in poor condition and is being marketed primarily as an investment or redevelopment opportunity. Seller will not make any repairs or improvements under any circumstances. Inspections are for buyer’s informational purposes only, and the seller will not negotiate based on inspection findings. The property may not qualify for traditional financing; cash or renovation loans are strongly recommended. All personal property and contents currently on the premises will convey with the sale. Buyers should conduct their own due diligence prior to submitting an offer.

21. 2026-03-13
    listed $28,999 Active 689-char remark

    Show marketing remark (689 chars)

    Property is being sold strictly AS-IS, WHERE-IS with no repairs, warranties, or concessions from the seller. The home is in poor condition and is being marketed primarily as an investment or redevelopment opportunity. Seller will not make any repairs or improvements under any circumstances. Inspections are for buyer’s informational purposes only, and the seller will not negotiate based on inspection findings. The property may not qualify for traditional financing; cash or renovation loans are strongly recommended. All personal property and contents currently on the premises will convey with the sale. Buyers should conduct their own due diligence prior to submitting an offer.

ⓘ 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: $96 · $8/mo
• Projected year-2 tax: $198 · $16/mo
• Expected delta: +$102/yr (+$8/mo · 105.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°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: $11,955
• − Mortgage interest: −$1,288
• − Property taxes: −$96
• − Insurance: −$115
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$669
• Taxable income: $7,874
• Est. tax owed @ 24.0%: −$1,890
• After-tax cash flow: $5,896/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): 42,119
• Household income: $64,773
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 983.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 5% Black 3% Asian 2%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -89.55%
• Current HPI: 217.7128
• 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

-20.7% since first listed

5 events — show timeline

• 2026-05-12 Relisted — GORAMLS
• 2026-05-12 Price Changed $22,999 GORAMLS
• 2026-04-16 Price Changed $25,999 GORAMLS
• 2026-03-30 Price Changed $27,500 GORAMLS
• 2026-03-13 Listed $28,999 GORAMLS

Property tax history

-11.1%/yr

Latest (2025): $96 · -3.3% YoY. Source: county tax records.