258-260 Elkhorn Meadows Dr · Georgetown, KY 40324

$449,900

6 bd · 5.0 ba · 2,781 sqft · MultiFamily public records · 31 Days on market

Built 2006 8,712 sqft lot Est $434k · at est.

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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).

• Cash flow +13.5/30.0
• ARV discount +5.8/15.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• 1% rule +2.8/10.0
• 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: 2 units. confirmed

Listing remarks

STOP SCROLLING — This Duplex is a GAME CHANGER! Looking for income, flexibility, AND style? This fully renovated duplex checks every box! Live in one side & let the other help pay your mortgage Or add a turnkey investment to your portfolio 3 Bedrooms | 2.5 Baths EACH side 1-Car Garage ALL NEW: Cabinets, countertops, flooring, paint & trim Stainless steel appliances Water heaters (both sides) HVAC approx. 5 years Replacement windows Gutter guards + insulated crawl space Move-in ready. Income ready. Stress-free. Opportunities like this don't last — message me before it's gone!

Key facts

• Gutter guards
• Replacement windows
• 8,712 sq ft lot

Tags

• FULLY RENOVATED DUPLEX
• STAINLESS STEEL APPLIANCES
• REPLACEMENT WINDOWS
• GUTTER GUARDS
• INSULATED CRAWL SPACE

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/2.5-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $14 ($170/yr) — positive. Per door: $7/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $349k (22.4% below list).
• Recommended offer: $349k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.5% in Georgetown — 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 78/100 on livability (#75 in KY, #2,338 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Elementary School (math 39% / reading 37%, grade F, #242 of 676 statewide, top 37%, 459 students, 34% FRL); Royal Spring Middle School (math 34% / reading 54%, grade D, #40 of 217 statewide, top 19%, 726 students, 44% FRL); Great Crossing High School (math 36% / reading 40%, grade F, #55 of 254 statewide, top 22%, 1,790 students, 43% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+3.0%/yr); 437 active listings in the ZIP; solid renter incomes; 546 units permitted in Scott County in 2024 (98 in 5+ unit buildings).
• At $3,489/mo this rent would consume 49% of the median local household income ($85k/yr) (locally 993% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $348,900 (22.4% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $433,836
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
258-260 Elkhorn Meadows Dr	0.00mi	6/5.0	2,751 (-1%)	1mo	$430,000	$156	98

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-72,175
• Equity at exit: $67,082

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-62,391
• Equity at exit: $38,899

Cash invested: $125,972 (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 40324

• Rents YoY: 3.0%
• Active inventory: 437
• Price-to-rent: 21.5×

Monthly cashflow live

• Estimated rent: $3,489 high
• Mortgage (P&I): −$2,359
• Tax from tax record: −$195 /mo · $2,345/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $14

Break-even live

Break-even rent $3,471

Max offer price $449,900

Occupancy floor 95%

Sensitivity live

Price	-10% $269	-5% $141	+0% $14	+5% $-113	+10% $-241
Rent	-10% $-261	-5% $-124	+0% $14	+5% $152	+10% $290
Rate	-1.0pp $241	-0.5pp $129	base $14	+0.5pp $-102	+1.0pp $-221

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	2.5	$3,490
Total (2 units)			$3,489

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-22
   status Pending
2. 2026-03-24
   price $449,900
3. 2026-03-21
   listed $499,900 Active
4. 2025-07-14
   historical
5. 2025-06-02
   listed $394,900 Active
6. 2019-02-04
   soldstatus $502,500
7. 2018-08-09
   soldstatus $525,000
8. 2017-01-12
   historical
9. 2016-04-19
   listed $92,000 Active
10. 2015-09-11
    historical
11. 2015-08-26
    listed $92,000 Active
12. 2009-04-27
    soldstatus $135,000
13. 2009-03-30
    historical
14. 2009-01-14
    listed $139,900

ⓘ 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: $2,345 · $195/mo
• Projected year-2 tax: $3,869 · $322/mo
• Expected delta: +$1,525/yr (+$127/mo · 65.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,868
• − Mortgage interest: −$25,201
• − Property taxes: −$2,345
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,349
• − Management: −$3,349
• − Depreciation: −$13,088
• Taxable loss: −$7,714
• Est. tax savings @ 24.0%: +$1,851
• After-tax cash flow: $2,021/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: Scott County
• NCES district ID: 2105260
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 44% ▼ -16.00%
• Median HH income: $61,324
• Composite: 33.87/100
• National rank: #5348
• State rank: #31 of 165 in KY

Livability — Georgetown

• Score: 78/100
• State rank: #75
• US rank: #2338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, KY
• County: Scott County · 53,406 people
• City population: 53,406
• Metro: Lexington-Fayette, KY
• Population (ZIP): 53,406
• Household income: $85,110
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 993.0

Population outlook (Scott County) Hauer SSP2

• Today (2025): 63,814 people
• By 2030: 69,637 · +9.1%
• By 2040: 81,315 · +27.4%
• By 2050: 92,677 · +45.2%
• By 2075: 118,956 · +86.4%
• By 2100: 136,792 · +114.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Scott

• 2024 margin: Strong R (+27.7) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -7.1pp toward R · 2008: -20.6pp · 2024: -27.7pp
• All cycles: 2024: R+27.7 2020: R+24.9 2016: R+30.4 2012: R+25.0 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.49%
• Current HPI: 187.89
• Rent YoY: ▲ 3.00%
• 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

+221.6% since first listed

14 events — show timeline

• 2026-04-22 Pending — ImagineMLS
• 2026-03-24 Price Changed $449,900 ImagineMLS
• 2026-03-21 Listed $499,900 ImagineMLS
• 2025-07-14 Listing Removed — ImagineMLS
• 2025-06-02 Listed $394,900 ImagineMLS
• 2019-02-04 Sold (Public Records) $502,500 Public Records
• 2018-08-09 Sold (Public Records) $525,000 Public Records
• 2017-01-12 Listing Removed — ImagineMLS
• 2016-04-19 Listed $92,000 ImagineMLS
• 2015-09-11 Listing Removed — ImagineMLS
• 2015-08-26 Listed $92,000 ImagineMLS
• 2009-04-27 Sold (MLS) $135,000 ImagineMLS
• 2009-03-30 Listing Removed — ImagineMLS
• 2009-01-14 Listed $139,900 ImagineMLS

Property tax history

+5.4%/yr

Latest (2025): $2,345 · +10.3% YoY. Source: county tax records.