500 W Main St · Mount Vernon, KY 40456

$79,500

2 bd · 2.0 ba · 1,454 sqft · Other · 79 Days on market

Built 1950 0.34 ac lot $55/sqft · 51% below area

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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 +21.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nice older home located near downtown with awesome possibilities. Home has 2 bedrooms and 2 full baths. Home features large rooms and lots of personality. Property is listed as IE (Insured w/escrow) . Add your personal touches to make this your dream home. Please refer to www.HUDHomeStore.gov to see who and when you can bid. Case # 201-659736. Home is sold "as-is, where-is with no warranties expressed or implied". Equal Housing Opportunity

Key facts

• 0.34 acre lot
• Built 1950
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($813 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.9% in Mount Vernon — 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 63/100 on livability (#321 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: housing C-, schools D+, amenities F.
• Rockcastle County (rural): math 23% / reading 40% proficiency, ranked #102 of 165 in KY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP.

Forward outlook

• In year one you build about $8k of equity ($550 loan paydown + $8k appreciation (10.0% local appreciation)).
• Rockcastle County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $50k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,730 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (median comp): $163,103
• List price: $79,500
• Delta: -51.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 3.30×
• Total profit: $51,114
• Equity at exit: $71,620

10-year hold

• IRR: 25.3%
• Equity multiple: 7.49×
• Total profit: $144,359
• Equity at exit: $154,451

Cash invested: $22,260 (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 40456

• Home prices YoY: 11.6%
• Active inventory: 64
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $813 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$69 /mo · $830/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $123

Break-even live

Break-even rent $657

Max offer price $79,500

Occupancy floor 80%

Sensitivity live

Price	-10% $168	-5% $145	+0% $123	+5% $100	+10% $78
Rent	-10% $59	-5% $91	+0% $123	+5% $155	+10% $187
Rate	-1.0pp $163	-0.5pp $143	base $123	+0.5pp $102	+1.0pp $81

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-07
   statusdays on market $79,500 Pending 79 DOM
2. 2026-06-05
   pricedays on market $79,500 Active 78 DOM
3. 2026-06-03
   days on market $88,500 Active 77 DOM
4. 2026-06-02
   days on market $88,500 Active 76 DOM
5. 2026-06-01
   days on market $88,500 Active 75 DOM
6. 2026-05-31
   days on market $88,500 Active 74 DOM
7. 2026-05-30
   days on market $88,500 Active 73 DOM
8. 2026-05-16
   price $88,500 454-char remark

   Show marketing remark (454 chars)

   Nice older home located near downtown with awesome possibilities. Home has 2 bedrooms and 2 full baths. Home features large rooms and lots of personality. Property is listed as IE (Insured w/escrow) . Add your personal touches to make this your dream home. Please refer to www.HUDHomeStore.gov to see who and when you can bid. Case # 201-659736. Home is sold "as-is, where-is with no warranties expressed or implied". Equal Housing Opportunity

9. 2026-05-01
   price $104,000 454-char remark

   Show marketing remark (454 chars)

   Nice older home located near downtown with awesome possibilities. Home has 2 bedrooms and 2 full baths. Home features large rooms and lots of personality. Property is listed as IE (Insured w/escrow) . Add your personal touches to make this your dream home. Please refer to www.HUDHomeStore.gov to see who and when you can bid. Case # 201-659736. Home is sold "as-is, where-is with no warranties expressed or implied". Equal Housing Opportunity

10. 2026-03-18
    listed $130,000 Active 454-char remark

    Show marketing remark (454 chars)

    Nice older home located near downtown with awesome possibilities. Home has 2 bedrooms and 2 full baths. Home features large rooms and lots of personality. Property is listed as IE (Insured w/escrow) . Add your personal touches to make this your dream home. Please refer to www.HUDHomeStore.gov to see who and when you can bid. Case # 201-659736. Home is sold "as-is, where-is with no warranties expressed or implied". Equal Housing Opportunity

11. 2019-12-18
    soldstatus $102,000 645-char remark

    Show marketing remark (645 chars)

    Take a look at this Doll House, with a piece of charm character of a home! Crown molding throughout, detailed tray ceilings, hardwood floors, gorgeous fire place in the living room. Kitchen with center island, and lots of cabinet space. Master, also laundry room on the main level. Partial full finished basement. Featured 2 bedrooms, 2 full baths, can be easily 3 bedrooms, 1 bonus room, and a office space. Home has been remodeled. This home is convenient to schools, shopping, and within minutes to i75. Home is in need of little TLC but should pass for most financing. Don't miss your chance to schedule your tour on this cute charming home!

12. 2019-12-18
    soldstatus $102,000

    Show marketing remark (645 chars)

    Take a look at this Doll House, with a piece of charm character of a home! Crown molding throughout, detailed tray ceilings, hardwood floors, gorgeous fire place in the living room. Kitchen with center island, and lots of cabinet space. Master, also laundry room on the main level. Partial full finished basement. Featured 2 bedrooms, 2 full baths, can be easily 3 bedrooms, 1 bonus room, and a office space. Home has been remodeled. This home is convenient to schools, shopping, and within minutes to i75. Home is in need of little TLC but should pass for most financing. Don't miss your chance to schedule your tour on this cute charming home!

13. 2019-08-01
    listed $98,000 645-char remark

    Show marketing remark (645 chars)

    Take a look at this Doll House, with a piece of charm character of a home! Crown molding throughout, detailed tray ceilings, hardwood floors, gorgeous fire place in the living room. Kitchen with center island, and lots of cabinet space. Master, also laundry room on the main level. Partial full finished basement. Featured 2 bedrooms, 2 full baths, can be easily 3 bedrooms, 1 bonus room, and a office space. Home has been remodeled. This home is convenient to schools, shopping, and within minutes to i75. Home is in need of little TLC but should pass for most financing. Don't miss your chance to schedule your tour on this cute charming home!

14. 2019-08-01
    listed $98,000

    Show marketing remark (645 chars)

    Take a look at this Doll House, with a piece of charm character of a home! Crown molding throughout, detailed tray ceilings, hardwood floors, gorgeous fire place in the living room. Kitchen with center island, and lots of cabinet space. Master, also laundry room on the main level. Partial full finished basement. Featured 2 bedrooms, 2 full baths, can be easily 3 bedrooms, 1 bonus room, and a office space. Home has been remodeled. This home is convenient to schools, shopping, and within minutes to i75. Home is in need of little TLC but should pass for most financing. Don't miss your chance to schedule your tour on this cute charming home!

15. 2017-08-28
    soldstatus $89,900
16. 2017-08-21
    soldstatus $89,900
17. 2017-08-21
    soldstatus $89,900
18. 2017-05-24
    listed $89,900
19. 2017-05-24
    listed $89,900
20. 2010-01-28
    soldstatus $77,000
21. 2010-01-01
    soldstatus $77,000
22. 2009-11-02
    listed $89,900
23. 2006-11-14
    listed $45,000

ⓘ 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: $830 · $69/mo
• Projected year-2 tax: $830 · $69/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $9,752
• − Mortgage interest: −$4,453
• − Property taxes: −$830
• − Insurance: −$398
• − Repairs & maintenance: −$780
• − Management: −$780
• − Depreciation: −$2,313
• Taxable income: $198
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $1,426/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: Rockcastle County
• NCES district ID: 2105070
• Math proficiency: 23% ▼ -21.00%
• Reading proficiency: 40% ▼ -18.00%
• Median HH income: $30,809
• Composite: 25.55/100
• National rank: #7430
• State rank: #102 of 165 in KY

Livability — Mount Vernon

• Score: 63/100
• State rank: #321
• US rank: #15406

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, KY
• Population (ZIP): 8,324

Population outlook (Rockcastle County) Hauer SSP2

• Today (2025): 17,003 people
• By 2030: 16,913 · -0.5%
• By 2040: 16,504 · -2.9%
• By 2050: 15,697 · -7.7%
• By 2075: 13,724 · -19.3%
• By 2100: 11,369 · -33.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Serbian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Rockcastle

• 2024 margin: Solid R (+73.1) · D 12.8% · R 85.9% · Other 1.3%
• 2008→2024 swing: -19.8pp toward R · 2008: -53.4pp · 2024: -73.1pp
• All cycles: 2024: R+73.1 2020: R+69.9 2016: R+70.2 2012: R+63.2 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.63%
• Current HPI: 227.3369
• 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

+96.7% since first listed

16 events — show timeline

• 2026-05-16 Price Changed $88,500 ImagineMLS
• 2026-05-01 Price Changed $104,000 ImagineMLS
• 2026-03-18 Listed $130,000 ImagineMLS
• 2019-12-18 Sold (MLS) $102,000 ImagineMLS
• 2019-12-18 Sold (MLS) $102,000 ImagineMLS
• 2019-08-01 Listed $98,000 ImagineMLS
• 2019-08-01 Listed $98,000 ImagineMLS
• 2017-08-28 Sold (Public Records) $89,900 Public Records
• 2017-08-21 Sold (MLS) $89,900 ImagineMLS
• 2017-08-21 Sold (MLS) $89,900 ImagineMLS
• 2017-05-24 Listed $89,900 ImagineMLS
• 2017-05-24 Listed $89,900 ImagineMLS
• 2010-01-28 Sold (MLS) $77,000 ImagineMLS
• 2010-01-01 Sold (Public Records) $77,000 Public Records
• 2009-11-02 Listed $89,900 ImagineMLS
• 2006-11-14 Listed $45,000 ImagineMLS

Property tax history

+3.0%/yr

Latest (2025): $830 · -0.6% YoY. Source: county tax records.