876-878 Angliana Ave · Lexington-Fayette, KY 40508

$239,500

2 bd · 2.0 ba · 1,408 sqft · MultiFamily public records · 18 Days on market

Built 1930 9,204 sqft 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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Rent growth +5.0/5.0
• 1% rule +4.4/10.0
• Schools +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Duplex near campus! Recent updates: Brand New Roof; New soffit & fascia boards; 2 New HVAC units (1 per side) with 10 year warranties. Utilities are metered separately. Large Basement houses mechanicals & extra storage. Each unit features 1 Bedroom & 1 bath, Hardwood Floors, with 704 sq ft. per side. Backyard enjoys new Fire-pit! Shared driveway with 2 parking spots in back. The 876 side has washer & dryer hookup. Located close to the Distillery District, Rupp Arena, & Lextran bus stop! LexTran offers free city transit for UK students/faculty - bus stop is just . 02 miles away to quickly get to UK!. Walk to Gatton park - just . 7 miles; Red Mile is just 1.3 mil

Key facts

• Extra storage
• New hvac units
• New fascia boards

Tags

• NEW ROOF
• NEW SOFFIT
• NEW FASCIA BOARDS
• NEW HVAC UNITS
• LARGE BASEMENT
• EXTRA STORAGE

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Duplex; One story
• Construction: Brick veneer and vinyl siding exterior; Block foundation; Dimensional-style roof; Total building area approximately 1,408
• Exterior features: Fire pit; Landscaped lot; Wood fencing

Interior

• Bedrooms: 2 total rooms (bedroom count not explicitly specified beyond rooms total)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Electric cooling
• Interior features: Primary bedroom on the first floor; Unfinished basement with exterior entry; Fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $368 ($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 $225k (6.0% below list).
• Recommended offer: $225k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.8% in Lexington-Fayette — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fayette County (urban): math 35% / reading 45% proficiency, ranked #27 of 165 in KY (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harrison Elementary School (math 8% / reading 17%, grade F, #630 of 676 statewide, top 95%, 179 students, 84% FRL); Lexington Trad Magnet School (math 11% / reading 29%, grade F, #206 of 217 statewide, top 95%, 296 students, 81% FRL); Lafayette High School (math 47% / reading 54%, grade D+, #10 of 254 statewide, top 4%, 2,432 students, 38% FRL) — zoned schools average 68% FRL vs 44% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 40% district-wide (-12 pts) — the specific schools serving this property underperform the Fayette County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+11.8%/yr); 83 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,036 units permitted in Fayette County in 2024 (542 in 5+ unit buildings).

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.
• Fayette County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $67k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $225,200 (6.0% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.58%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-3,587
• Equity at exit: $35,710

10-year hold

• IRR: 12.6%
• Equity multiple: 2.20×
• Total profit: $80,752
• Equity at exit: $20,708

Cash invested: $67,060 (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 40508

• Rents YoY: 11.8%
• Active inventory: 83
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $2,252 high
• Mortgage (P&I): −$1,256
• Tax from tax record: −$55 /mo · $664/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $368

Break-even live

Break-even rent $1,786

Max offer price $239,500

Occupancy floor 79%

Sensitivity live

Price	-10% $504	-5% $436	+0% $368	+5% $300	+10% $232
Rent	-10% $190	-5% $279	+0% $368	+5% $457	+10% $546
Rate	-1.0pp $489	-0.5pp $429	base $368	+0.5pp $306	+1.0pp $243

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,252
Total (2 units)			$2,252

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
832 W High St Unit 1 Lexington, KY	3.0	1.5	900	$1,400	$1.56	25d	1	0.46mi
301 Thompson Rd Lexington, KY	3.0	1.0	1008	$1,450	$1.44	15d	1	0.61mi
845 Red Mile Rd Lexington, KY	1.0–3.0	1.0–2.0	821	$1,487	$1.81	15d	33	0.64mi
208 Clyde St Lexington, KY	2.0	1.0	982	$1,100	$1.12	22d	1	0.66mi
355 S Broadway #305 Lexington, KY	2.0	2.0	1436	$2,900	$2.02	25d	1	0.72mi
120 Clyde St Lexington, KY	3.0	1.0	1242	$1,450	$1.17	25d	1	0.74mi
585 S Upper St #114 Lexington, KY	2.0	2.0	1000	$1,995	$2.00	25d	1	0.77mi
1079 Duncan Ave Lexington, KY	3.0	1.0	1175	$1,950	$1.66	25d	1	0.78mi
1100 Horsemans Ln Unit HM37 Lexington, KY	3.0	2.5	1500	$1,500	$1.00	25d	1	0.79mi
1100 Horsemans Ln Lexington, KY	3.0	2.0	1250	$1,500	$1.20	25d	1	0.80mi
380 Virginia Ave Lexington, KY	2.0	1.0–2.0	771	$2,615	$3.39	15d	50	0.85mi
261 S Limestone #303 Lexington, KY	2.0	2.0	1102	$2,995	$2.72	25d	1	0.91mi
275 S Limestone #135 Lexington, KY	3.0	2.0	1142	$2,950	$2.58	15d	1	0.92mi
275 S Limestone #115 Lexington, KY	2.0	2.0	1010	$2,500	$2.48	25d	1	0.92mi
275 S Limestone #140 Lexington, KY	2.0	2.0	1578	$4,700	$2.98	25d	1	0.92mi
1603 Glover Ave Lexington, KY	3.0	1.0	1336	$1,650	$1.24	25d	1	0.92mi
261 Simpson Ave Lexington, KY	3.0	2.0	1025	$1,710	$1.67	15d	1	0.95mi
330 Newtown Pike Lexington, KY	1.0–3.0	1.0–2.0	976	$1,205	$1.23	25d	1	1.02mi
1861 Dunkirk Dr Lexington, KY	3.0	1.0	975	$1,595	$1.64	15d	1	1.03mi
723 Charles Ave Lexington, KY	3.0	1.0	992	$1,300	$1.31	15d	1	1.04mi
345 Blackburn Ave Lexington, KY	2.0	2.0	946	$1,925	$2.03	15d	1	1.06mi
208 Linwood Dr Lexington, KY	3.0	1.0	1200	$1,600	$1.33	25d	1	1.07mi
120 E Main St Lexington, KY	2.0	1.0–2.0	710	$2,486	$3.50	15d	20	1.09mi
1885 Dunkirk Dr Lexington, KY	3.0	1.0	1090	$1,600	$1.47	15d	1	1.16mi
120 Burley Ave Lexington, KY	3.0	1.0	928	$1,500	$1.62	25d	1	1.16mi
444 Jefferson St Unit A Lexington, KY	2.0	2.0	1220	$1,950	$1.60	15d	1	1.24mi
140 Gazette Ave Lexington, KY	3.0	1.5	875	$1,750	$2.00	25d	1	1.25mi
405 Roosevelt Blvd Lexington, KY	3.0	1.0	960	$1,495	$1.56	15d	1	1.30mi
444 N Broadway Lexington, KY	3.0	1.0	1160	$1,595	$1.38	25d	1	1.34mi
341 Grosvenor Ave Unit 3 Lexington, KY	3.0	3.0	875	$2,500	$2.86	25d	1	1.36mi

Listing history 13 events

1. 2026-06-22
   days on market $239,500 Active 18 DOM
2. 2026-06-18
   days on market $239,500 Active 15 DOM
3. 2026-06-17
   days on market $239,500 Active 14 DOM
4. 2026-06-16
   days on market $239,500 Active 13 DOM
5. 2026-06-15
   days on market $239,500 Active 12 DOM
6. 2026-06-14
   days on market $239,500 Active 10 DOM
7. 2026-06-13
   days on market $239,500 Active 9 DOM
8. 2026-06-10
   days on market $239,500 Active 7 DOM
9. 2026-06-09
   days on market $239,500 Active 6 DOM
10. 2026-06-08
    days on market $239,500 Active 5 DOM
11. 2026-06-07
    days on market $239,500 Active 4 DOM
12. 2026-06-05
    remarks 679-char remark
13. 2026-06-05
    listed $239,500 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: $664 · $55/mo
• Projected year-2 tax: $2,060 · $172/mo
• Expected delta: +$1,396/yr (+$116/mo · 210.1%)

ⓘ 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 ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $27,024
• − Mortgage interest: −$13,416
• − Property taxes: −$664
• − Insurance: −$1,198
• − Repairs & maintenance: −$2,162
• − Management: −$2,162
• − Depreciation: −$6,967
• Taxable income: $456
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $4,306/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: Fayette County
• NCES district ID: 2101860
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 45% ▼ -13.00%
• Median HH income: $49,245
• Composite: 34.38/100
• National rank: #5211
• State rank: #27 of 165 in KY

Livability — Lexington-Fayette

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lexington-Fayette, KY
• County: Fayette County · 317,143 people
• City population: 321,882
• Metro: Lexington-Fayette, KY
• Population (ZIP): 23,756
• Household income: $29,440
• Rent vs Own: 70.5% rent · 29.5% own
• Severe rent burden: 2644.0

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 363,454 people
• By 2030: 388,270 · +6.8%
• By 2040: 438,688 · +20.7%
• By 2050: 490,667 · +35.0%
• By 2075: 625,394 · +72.1%
• By 2100: 721,354 · +98.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 22% Hispanic / Latino 9% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 2% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Fayette

• 2024 margin: D (+18.1) · D 58.0% · R 39.9% · Other 2.1%
• 2008→2024 swing: +13.3pp toward D · 2008: 4.8pp · 2024: 18.1pp
• All cycles: 2024: D+18.1 2020: D+20.8 2016: D+9.5 2012: D+1.0 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.04%
• Current HPI: 204.3994
• Rent YoY: ▲ 11.83%
• 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

-60.1% since first listed

6 events — show timeline

• 2026-06-03 Listed $239,500 ImagineMLS
• 2026-03-26 Sold (Public Records) $370,000 Public Records
• 2024-05-31 Listing Removed — ImagineMLS
• 2023-08-31 Relisted — ImagineMLS
• 2023-08-29 Listing Removed — ImagineMLS
• 2022-08-30 Listed $600,000 ImagineMLS

Property tax history

+1.9%/yr

Latest (2015): $664 · +1.9% YoY. Source: county tax records.