606 N Second St · Central City, KY 42330

$57,250

2 bd · 1.0 ba · 1,020 sqft · Other · 17 Days on market

6,534 sqft lot

---

Why this score? — see what drove the C+ 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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Currently ofcu. Great rental investment or flip property

Key facts

• 6,534 sq ft lot
• Garage
• Listed 17 days

Property features AI

Exterior

• Parking: Gravel driveway; Detached garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential; Single-story entry level
• Construction: Vinyl siding; Composition roof
• Exterior features: 50 x 166 lot (per public valuation); Lot approximately 0.15 acres

Interior

• Kitchen: Range; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Range; Electric range; Refrigerator; Gas water heater
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $57k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($650 rent vs $57k).
• Recommended offer: $56k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.0% in Central City — 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 66/100 on livability (#238 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Muhlenberg County (rural): math 24% / reading 37% proficiency, ranked #104 of 165 in KY (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 40 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5 units permitted in Muhlenberg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $396 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Muhlenberg County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; list at $57k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,391 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.41%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $1,265
• Equity at exit: $8,536

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $14,621
• Equity at exit: $4,950

Cash invested: $16,030 (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 42330

• Home prices YoY: -8.4%
• Active inventory: 40
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $650 medium
• Mortgage (P&I): −$300
• Tax from tax record: −$24 /mo · $283/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$136
• Net cashflow: $166

Break-even live

Break-even rent $440

Max offer price $57,250

Occupancy floor 69%

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: $14,312
• Closing costs: $1,718
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1217 W Reservoir Ave Apt 08 Central City, KY	2.0	1.0	700	$650	$0.93	44d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $57,250 Active 17 DOM
2. 2026-06-17
   days on market $57,250 Active 16 DOM
3. 2026-06-16
   days on market $57,250 Active 15 DOM
4. 2026-06-15
   days on market $57,250 Active 14 DOM
5. 2026-06-14
   days on market $57,250 Active 12 DOM
6. 2026-06-13
   days on market $57,250 Active 11 DOM
7. 2026-06-10
   days on market $57,250 Active 9 DOM
8. 2026-06-09
   days on market $57,250 Active 8 DOM
9. 2026-06-08
   days on market $57,250 Active 7 DOM
10. 2026-06-07
    days on market $57,250 Active 6 DOM
11. 2026-06-03
    days on market $57,250 Active 2 DOM
12. 2026-06-02
    remarks 60-char remark
13. 2026-06-02
    listed $57,250 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: $283 · $24/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$209/yr (+$17/mo · 73.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $7,800
• − Mortgage interest: −$3,207
• − Property taxes: −$283
• − Insurance: −$286
• − Repairs & maintenance: −$624
• − Management: −$624
• − Depreciation: −$1,665
• Taxable income: $1,110
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $1,723/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: Muhlenberg County
• NCES district ID: 2100081
• Math proficiency: 24% ▼ -26.00%
• Reading proficiency: 37% ▼ -22.00%
• Median HH income: $38,513
• Composite: 25.47/100
• National rank: #7444
• State rank: #104 of 165 in KY

Livability — Central City

• Score: 66/100
• State rank: #238
• US rank: #11651

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central City, KY
• Population (ZIP): 9,354

Population outlook (Muhlenberg County) Hauer SSP2

• Today (2025): 30,114 people
• By 2030: 29,347 · -2.5%
• By 2040: 27,828 · -7.6%
• By 2050: 26,359 · -12.5%
• By 2075: 23,095 · -23.3%
• By 2100: 19,709 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Muhlenberg

• 2024 margin: Solid R (+54.4) · D 22.3% · R 76.6% · Other 1.1%
• 2008→2024 swing: -52.6pp toward R · 2008: -1.8pp · 2024: -54.4pp
• All cycles: 2024: R+54.4 2020: R+48.8 2016: R+46.9 2012: R+23.5 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.10%
• Current HPI: 185.6763
• 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

+97.4% since first listed

2 events — show timeline

• 2026-06-01 Listed $57,250 MHCBOR
• 1997-06-01 Sold (Public Records) $29,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $283 · -1.1% YoY. Source: county tax records.