213 Irvine View St · Richmond, KY 40475

$187,000

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 98 Days on market

Built 1970 6,835 sqft lot $186/sqft · 18% above area Est $203k · 8% under ↓ 1% 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).

• ARV discount +11.1/15.0
• Cash flow +8.1/30.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER IS SELLING HOUSE AS IS. Charming 3-bedroom, 2-bath home located in the heart of downtown Richmond, close to shopping, dining, and local amenities. This property features a spacious backyard, along with both a welcoming front porch and a relaxing back porch—perfect for enjoying the outdoors. The home includes an electric heating system, updated plumbing that is only one year old, and a roof installed in 2025. The property is being sold as-is, and inspections are welcome. SUBJECT TO A SHORT SALE

Key facts

• Spacious backyard
• Roof installed
• Relaxing back porch

Tags

• SPACIOUS BACKYARD
• WELCOMING FRONT PORCH
• RELAXING BACK PORCH
• ELECTRIC HEATING SYSTEM
• UPDATED PLUMBING
• ROOF INSTALLED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $187k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (34.2% below list).
• Recommended offer: $123k (34.2% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.0% in Richmond — 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 (#163 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D+, amenities F, commute F.
• Madison County (town): math 31% / reading 47% proficiency, ranked #35 of 165 in KY (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.8%/yr); 501 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 453 units permitted in Madison County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Madison County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $123,099 (34.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.66% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.10%
• DSCR: 0.82
• GRM: 12.7

CMA / ARV

• ARV (median comp): $203,116
• List price: $187,000
• Delta: -7.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
331 Irvine View St	0.18mi	3/1.0	1,026 (+2%)	2mo	$199,000	$194	83
321 Irvine View St	0.13mi	3/1.0	1,040 (+3%)	6mo	$194,900	$187	79
1019 E Irvine St	0.23mi	3/1.0	1,044 (+4%)	4mo	$209,760	$201	76
629 Cottonwood Dr	0.30mi	3/1.0	1,075 (+7%)	4mo	$195,000	$181	68
675 Cottonwood Dr	0.40mi	3/1.0	1,066 (+6%)	1mo	$195,000	$183	67
645 Cottonwood Dr	0.31mi	3/1.0	1,075 (+7%)	5mo	$165,000	$153	66
613 Wagonwheel Rd	0.36mi	3/1.0	1,092 (+8%)	0mo	$185,000	$169	65
507 Orange St	0.55mi	3/1.0	960 (-5%)	3mo	$169,900	$177	60
610 Cottonwood Dr	0.30mi	3/1.0	1,148 (+14%)	2mo	$130,000	$113	57
820 Linden St	0.38mi	2/1.5 (-1)	1,100 (+9%)	7mo	$211,900	$193	54
201 S Robbins Ct	0.74mi	3/1.0	986 (-2%)	7mo	$170,000	$172	52
101 Hanover St	0.62mi	3/1.0	1,128 (+12%)	8mo	$198,000	$176	41

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 · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -23.4%
• Equity multiple: 0.20×
• Total profit: $-41,981
• Equity at exit: $27,882

10-year hold

• IRR: -18.8%
• Equity multiple: -0.00×
• Total profit: $-52,408
• Equity at exit: $16,168

Cash invested: $52,360 (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 40475

• Home prices YoY: -22.7%
• Rents YoY: 2.8%
• Active inventory: 501
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$981
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-179

Break-even live

Break-even rent $1,457

Max offer price $155,412

Occupancy floor —

Sensitivity live

Price	-10% $-73	-5% $-126	+0% $-179	+5% $-232	+10% $-285
Rent	-10% $-276	-5% $-227	+0% $-179	+5% $-130	+10% $-82
Rate	-1.0pp $-85	-0.5pp $-131	base $-179	+0.5pp $-227	+1.0pp $-277

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245 Evansdale Ave Richmond, KY	2.0	1.0	778	$1,100	$1.41	15d	1	0.20mi
633 Big Hill Ave Richmond, KY	1.0–3.0	1.0	775	$1,150	$1.48	45d	1	0.46mi
1052 Merrick Dr Unit 2 Richmond, KY	3.0	3.0	1250	$1,500	$1.20	45d	1	0.47mi
418 Big Hill Ave Richmond, KY	1.0–2.0	1.0	795	$1,012	$1.27	24d	2	0.56mi
1118 Richmond Green Dr Unit 2 Richmond, KY	2.0	2.0	1200	$995	$0.83	15d	1	0.59mi
103 Rice Ct Unit 3 Richmond, KY	2.0	1.0	700	$950	$1.36	45d	1	0.70mi
103 Rice Ct Unit 5 Richmond, KY	2.0	1.0	700	$800	$1.14	24d	1	0.70mi
204 S Robbins Ct Richmond, KY	2.0	1.0	880	$1,200	$1.36	24d	1	0.70mi
804 Melanie Ln Richmond, KY	2.0	2.5	1200	$1,250	$1.04	45d	1	0.82mi
512 Claire Pl Richmond, KY	1.0–2.0	1.0–2.0	913	$1,345	$1.47	45d	2	0.85mi
223 W Broadway Ave Richmond, KY	3.0	1.0	1095	$1,175	$1.07	45d	1	0.97mi
325 S 3rd St Unit B Richmond, KY	2.0	1.0	1000	$1,195	$1.20	24d	1	1.10mi
2 Wellington Ct Unit A Richmond, KY	3.0	1.0	1100	$2,450	$2.23	45d	1	1.12mi
428 North St Unit Z2 Richmond, KY	3.0	1.0	1310	$1,099	$0.84	45d	1	1.12mi
705 Sizemore Dr Apt 4 Richmond, KY	2.0	1.0	750	$695	$0.93	45d	1	1.20mi
573 Regency Cir Richmond, KY	2.0	2.0	1278	$1,550	$1.21	45d	1	1.25mi
579 Regency Cir Richmond, KY	2.0	2.0	1278	$1,550	$1.21	45d	1	1.25mi
327 High St Unit C Richmond, KY	2.0	2.0	1100	$950	$0.86	45d	1	1.26mi
327 High St Apt B Richmond, KY	2.0	2.0	1100	$1,550	$1.41	15d	1	1.26mi
333 High St Unit A Richmond, KY	2.0	2.0	1100	$1,600	$1.45	45d	1	1.28mi
337 High St Apt 2 Richmond, KY	2.0	1.0	750	$750	$1.00	15d	1	1.28mi
337 High St Apt 3 Richmond, KY	2.0	1.0	750	$875	$1.17	45d	1	1.28mi
410 Turpin Dr Unit 4 Richmond, KY	2.0	1.0	700	$695	$0.99	24d	1	1.32mi
337 Oxford Cir Richmond, KY	3.0	2.5	1470	$1,750	$1.19	24d	1	1.50mi

Listing history 26 events

1. 2026-06-21
   days on market $187,000 Active 98 DOM
2. 2026-06-18
   days on market $187,000 Active 95 DOM
3. 2026-06-17
   days on market $187,000 Active 94 DOM
4. 2026-06-16
   days on market $187,000 Active 93 DOM
5. 2026-06-15
   days on market $187,000 Active 92 DOM
6. 2026-06-14
   days on market $187,000 Active 90 DOM
7. 2026-06-10
   days on market $187,000 Active 87 DOM
8. 2026-06-09
   days on market $187,000 Active 86 DOM
9. 2026-06-08
   days on market $187,000 Active 85 DOM
10. 2026-06-07
    days on market $187,000 Active 84 DOM
11. 2026-06-05
    days on market $187,000 Active 81 DOM
12. 2026-06-03
    days on market $187,000 Active 80 DOM
13. 2026-06-02
    days on market $187,000 Active 79 DOM
14. 2026-06-01
    days on market $187,000 Active 78 DOM
15. 2026-05-31
    days on market $187,000 Active 77 DOM
16. 2026-05-31
    days on market $187,000 Active 76 DOM
17. 2026-04-28
    price $187,000 511-char remark

    Show marketing remark (511 chars)

    SELLER IS SELLING HOUSE AS IS. Charming 3-bedroom, 2-bath home located in the heart of downtown Richmond, close to shopping, dining, and local amenities. This property features a spacious backyard, along with both a welcoming front porch and a relaxing back porch—perfect for enjoying the outdoors. The home includes an electric heating system, updated plumbing that is only one year old, and a roof installed in 2025. The property is being sold as-is, and inspections are welcome. SUBJECT TO A SHORT SALE

18. 2026-03-15
    listed $190,000 Active 511-char remark

    Show marketing remark (511 chars)

    SELLER IS SELLING HOUSE AS IS. Charming 3-bedroom, 2-bath home located in the heart of downtown Richmond, close to shopping, dining, and local amenities. This property features a spacious backyard, along with both a welcoming front porch and a relaxing back porch—perfect for enjoying the outdoors. The home includes an electric heating system, updated plumbing that is only one year old, and a roof installed in 2025. The property is being sold as-is, and inspections are welcome. SUBJECT TO A SHORT SALE

19. 2025-06-13
    soldstatus $187,875
20. 2025-05-15
    soldstatus $187,875 Closed 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

21. 2025-05-01
    status Pending 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

22. 2025-04-03
    historical Contingent 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

23. 2025-03-13
    status Active 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

24. 2025-02-28
    historical Contingent 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

25. 2025-02-06
    price $185,000 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

26. 2025-01-03
    listed $189,000 Active 875-char remark

    Show marketing remark (875 chars)

    Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins. Charming 3 bedroom 2 full bath close to everything with a nice backyard and a lovely front porch with a swing. Nicely remolded with new flooring, new windows, and new fixtures. House also has new upgraded electric, new plumbing and a new 25 year roof. It features efficient multi zone wifi enabled HVAC. This house has a separate dining area, a living room, a bonus room and a nice private master bedroom with full bath and built-ins.

ⓘ 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: $1,113 · $93/mo
• Projected year-2 tax: $1,608 · $134/mo
• Expected delta: +$495/yr (+$41/mo · 44.5%)

ⓘ 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 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: $14,772
• − Mortgage interest: −$10,475
• − Property taxes: −$1,113
• − Insurance: −$935
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$5,440
• Taxable loss: −$5,554
• Est. tax savings @ 24.0%: +$1,333
• After-tax cash flow: $-813/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: Madison County
• NCES district ID: 2103720
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $43,590
• Composite: 32.99/100
• National rank: #5580
• State rank: #35 of 165 in KY

Livability — Richmond

• Score: 69/100
• State rank: #163
• US rank: #8196

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, KY
• County: Madison County · 93,568 people
• City population: 65,961
• Metro: Richmond-Berea, KY
• Population (ZIP): 65,961
• Household income: $63,050
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 2031.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 99,241 people
• By 2030: 104,927 · +5.7%
• By 2040: 116,079 · +17.0%
• By 2050: 127,293 · +28.3%
• By 2075: 155,644 · +56.8%
• By 2100: 176,488 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+30.9) · D 33.6% · R 64.5% · Other 1.9%
• 2008→2024 swing: -8.4pp toward R · 2008: -22.4pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.8 2016: R+31.2 2012: R+28.9 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.04%
• Current HPI: 245.8489
• Rent YoY: ▲ 2.82%
• Metro: Richmond-Berea, 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

-1.1% since first listed

10 events — show timeline

• 2026-04-28 Price Changed $187,000 ImagineMLS
• 2026-03-15 Listed $190,000 ImagineMLS
• 2025-06-13 Sold (Public Records) $187,875 Public Records
• 2025-05-15 Sold (MLS) $187,875 ImagineMLS
• 2025-05-01 Pending — ImagineMLS
• 2025-04-03 Contingent — ImagineMLS
• 2025-03-13 Relisted — ImagineMLS
• 2025-02-28 Contingent — ImagineMLS
• 2025-02-06 Price Changed $185,000 ImagineMLS
• 2025-01-03 Listed $189,000 ImagineMLS

Property tax history

+14.1%/yr

Latest (2025): $1,113 · +796.7% YoY. Source: county tax records.