305 W Oak St · Nicholasville, KY 40356

$224,499

3 bd · 2.0 ba · 2,452 sqft · Other public records · 220 Days on market

Built 1840 0.56 ac lot

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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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.6/10.0
• Rent growth +4.4/5.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The Scott House - A Kentucky Landmark Step into history with The Scott House, a designated Kentucky Landmark and proud listing on the Jessamine County Historic Registry. This remarkable property is the second-oldest log structure in Jessamine County. The original 1792 log structure, now serving as the kitchen, showcases hand-hewn mahogany beams and walls. A loft above the kitchen (approximately 250 sq. ft. ) features original floors and banister, offering a unique space with endless potential. The kitchen and adjoining utility room have been completely rewired, preserving the charm of the past with the convenience of modern updates. The 1830s addition, currently used as a dining room, featu

Key facts

• Oak mantle
• Original floors
• Irreplaceable tile

Tags

• SECOND-OLDEST LOG STRUCTURE
• HAND-HEWN MAHOGANY BEAMS
• ORIGINAL FLOORS
• ORIGINAL FIREPLACE
• OAK MANTLE
• IRREPLACEABLE TILE

Property features AI

Finance

• Other: Parcel number 058-10-13-036.00

Exterior

• Parking: Detached garage; Property has a garage
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Two levels
• Construction: Brick veneer, vinyl siding, and wood siding exterior; Stone foundation; Shingle roof; Built area approximately 2,452 (building area total)
• Exterior features: Wooded lot with many trees; Wood fencing

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Total rooms: 4
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Breakfast bar; Primary bedroom on the first floor; Fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $224k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/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 $215k (4.0% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.4% in Nicholasville — 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 (#231 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Jessamine County (town): math 31% / reading 45% proficiency, ranked #37 of 165 in KY (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brookside Elementary School (math 36% / reading 32%, grade F, #329 of 676 statewide, top 49%, 514 students, 57% FRL); East Jessamine Middle School (math 23% / reading 44%, grade F, #105 of 217 statewide, top 51%, 936 students, 56% FRL).
• Market conditions: Rents rising fast (+7.5%/yr); 496 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 267 units permitted in Jessamine County in 2024 (9 in 5+ unit buildings).
• This rent runs 35% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Jessamine County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $224k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,559 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1840 — 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: 0.96% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-6,062
• Equity at exit: $33,474

10-year hold

• IRR: 11.3%
• Equity multiple: 2.06×
• Total profit: $66,353
• Equity at exit: $19,411

Cash invested: $62,860 (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 40356

• Home prices YoY: -18.6%
• Rents YoY: 7.5%
• Active inventory: 496
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,154 medium
• Mortgage (P&I): −$1,177
• Tax from tax record: −$114 /mo · $1,367/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $317

Break-even live

Break-even rent $1,753

Max offer price $224,499

Occupancy floor 80%

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: $56,125
• Closing costs: $6,735
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Virginia Ln Nicholasville, KY	3.0	2.0	1775	$2,300	$1.30	23d	1	0.92mi
105 Stepping Stone Path Nicholasville, KY	3.0	2.0	1877	$2,350	$1.25	23d	1	1.06mi
108 Winners Cir Nicholasville, KY	3.0	2.0	1641	$2,100	$1.28	21d	1	1.39mi

Listing history 21 events

1. 2026-06-18
   days on market $224,499 Active 220 DOM
2. 2026-06-17
   days on market $224,499 Active 219 DOM
3. 2026-06-16
   days on market $224,499 Active 218 DOM
4. 2026-06-15
   days on market $224,499 Active 217 DOM
5. 2026-06-14
   days on market $224,499 Active 215 DOM
6. 2026-06-10
   days on market $224,499 Active 212 DOM
7. 2026-06-09
   days on market $224,499 Active 211 DOM
8. 2026-06-08
   days on market $224,499 Active 210 DOM
9. 2026-06-07
   pricedays on market $224,499 Active 209 DOM
10. 2026-06-03
    days on market $229,500 Active 205 DOM
11. 2026-06-02
    days on market $229,500 Active 204 DOM
12. 2026-06-01
    days on market $229,500 Active 203 DOM
13. 2026-05-31
    days on market $229,500 Active 202 DOM
14. 2026-05-31
    days on market $229,500 Active 201 DOM
15. 2026-05-11
    status Active
16. 2026-05-07
    historical
17. 2026-03-31
    price $229,500
18. 2025-11-07
    listed $239,500 Active
19. 1998-11-30
    soldstatus $114,900
20. 1998-10-12
    historical
21. 1998-09-26
    listed $114,900

ⓘ 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: $1,367 · $114/mo
• Projected year-2 tax: $1,931 · $161/mo
• Expected delta: +$563/yr (+$47/mo · 41.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $25,850
• − Mortgage interest: −$12,575
• − Property taxes: −$1,367
• − Insurance: −$1,122
• − Repairs & maintenance: −$2,068
• − Management: −$2,068
• − Depreciation: −$6,531
• Taxable income: $118
• Est. tax owed @ 24.0%: −$28
• After-tax cash flow: $3,776/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: Jessamine County
• NCES district ID: 2103030
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 45% ▼ -12.00%
• Median HH income: $50,249
• Composite: 32.81/100
• National rank: #5623
• State rank: #37 of 165 in KY

Livability — Nicholasville

• Score: 66/100
• State rank: #231
• US rank: #11266

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nicholasville, KY
• County: Jessamine County · 45,849 people
• City population: 45,849
• Metro: Lexington-Fayette, KY
• Population (ZIP): 45,849
• Household income: $74,495
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1186.0

Population outlook (Jessamine County) Hauer SSP2

• Today (2025): 58,419 people
• By 2030: 61,468 · +5.2%
• By 2040: 66,952 · +14.6%
• By 2050: 71,357 · +22.1%
• By 2075: 80,325 · +37.5%
• By 2100: 83,848 · +43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 2%
• Common ancestry: Italian 2% Subsaharan African 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Jessamine

• 2024 margin: Solid R (+35.9) · D 31.2% · R 67.0% · Other 1.8%
• 2008→2024 swing: +1.1pp toward D · 2008: -37.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.5 2016: R+40.0 2012: R+39.9 2008: R+37.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.88%
• Current HPI: 270.2432
• Rent YoY: ▲ 7.50%
• Metro: Lexington-Fayette, 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

+99.7% since first listed

7 events — show timeline

• 2026-05-11 Relisted — ImagineMLS
• 2026-05-07 Listing Removed — ImagineMLS
• 2026-03-31 Price Changed $229,500 ImagineMLS
• 2025-11-07 Listed $239,500 ImagineMLS
• 1998-11-30 Sold (MLS) $114,900 ImagineMLS
• 1998-10-12 Listing Removed — ImagineMLS
• 1998-09-26 Listed $114,900 ImagineMLS