111 Dickerson Ct · Lancaster, KY 40444

$185,000

3 bd · 1.0 ba · 952 sqft · SingleFamily · 64 Days on market

Built 1946 10,367 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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1 bath home with many updates and 5.125% assumable loan! Happily situated next to a park-like open lot, this home includes an open front porch to enjoy the front yard, which includes a walkway, new trees, flowers, and shrubs, and a parking pad. The rear deck overlooks a large, fenced backyard that includes a fire pit, bird bath, apple trees, blueberry plant, hickory trees, and a concrete table and benches. The eat-in kitchen includes a dishwasher, refrigerator, and newer gas stove, with updated cabinets and counter space, with newer maintenance-free flooring. Home is tastefully painted with numerous updates, including upstairs laundry, new sewer line, new double-hung windows upstairs with sliders, plexiglass, and one double-hung window in the basement. Very little maintenance required with steel roof, new windows, and vinyl siding. Basement previously used as a wood shop, but can be used for storage as well. Appliances include stove, refrigerator, washer, and dryer. All on a quiet street!

Key facts

• 0.24 acre lot
• Built 1946
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/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 $179k (3.0% below list).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#314 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety D+, amenities F, commute F.
• Garrard County (rural): math 28% / reading 42% proficiency, ranked #63 of 165 in KY (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lancaster Elementary School (math 37% / reading 37%, grade F, #255 of 676 statewide, top 42%, 469 students, 80% FRL); Garrard Middle School (math 21% / reading 42%, grade F, #125 of 217 statewide, top 63%, 563 students, 64% FRL); Garrard County High School (math 27% / reading 37%, grade F, #97 of 254 statewide, top 46%, 801 students, 59% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 170 active listings in the ZIP.

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.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1946 — 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-13,393
• Equity at exit: $27,584

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $9,559
• Equity at exit: $15,995

Cash invested: $51,800 (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 40444

• Home prices YoY: -2.6%
• Active inventory: 170
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,794 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $261

Break-even live

Break-even rent $1,463

Max offer price $185,000

Occupancy floor 80%

Sensitivity live

Price	-10% $366	-5% $314	+0% $261	+5% $209	+10% $156
Rent	-10% $119	-5% $190	+0% $261	+5% $332	+10% $403
Rate	-1.0pp $354	-0.5pp $308	base $261	+0.5pp $213	+1.0pp $164

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $185,000 Active 64 DOM
2. 2026-06-19
   days on market $185,000 Active 62 DOM
3. 2026-06-18
   days on market $185,000 Active 61 DOM
4. 2026-06-17
   days on market $185,000 Active 60 DOM
5. 2026-06-16
   days on market $185,000 Active 59 DOM
6. 2026-06-15
   days on market $185,000 Active 58 DOM
7. 2026-06-14
   days on market $185,000 Active 56 DOM
8. 2026-06-13
   days on market $185,000 Active 55 DOM
9. 2026-06-10
   days on market $185,000 Active 53 DOM
10. 2026-06-09
    days on market $185,000 Active 52 DOM
11. 2026-06-09
    price $185,000 Active 51 DOM
12. 2026-06-08
    days on market $190,000 Active 51 DOM
13. 2026-06-07
    days on market $190,000 Active 50 DOM
14. 2026-06-05
    days on market $190,000 Active 47 DOM
15. 2026-06-03
    days on market $190,000 Active 46 DOM
16. 2026-06-02
    days on market $190,000 Active 45 DOM
17. 2026-06-01
    days on market $190,000 Active 44 DOM
18. 2026-05-31
    days on market $190,000 Active 43 DOM
19. 2026-05-30
    days on market $190,000 Active 42 DOM
20. 2026-04-28
    price $190,000 1033-char remark

    Show marketing remark (1033 chars)

    Charming 3-bedroom, 1 bath home with many updates and 5.125% assumable loan! Happily situated next to a park-like open lot, this home includes an open front porch to enjoy the front yard, which includes a walkway, new trees, flowers, and shrubs, and a parking pad. The rear deck overlooks a large, fenced backyard that includes a fire pit, bird bath, apple trees, blueberry plant, hickory trees, and a concrete table and benches. The eat-in kitchen includes a dishwasher, refrigerator, and newer gas stove, with updated cabinets and counter space, with newer maintenance-free flooring. Home is tastefully painted with numerous updates, including upstairs laundry, new sewer line, new double-hung windows upstairs with sliders, plexiglass, and one double-hung window in the basement. Very little maintenance required with steel roof, new windows, and vinyl siding. Basement previously used as a wood shop, but can be used for storage as well. Appliances include stove, refrigerator, washer, and dryer. All on a quiet street!

21. 2026-04-17
    listed $199,000 Active 1033-char remark

    Show marketing remark (1033 chars)

    Charming 3-bedroom, 1 bath home with many updates and 5.125% assumable loan! Happily situated next to a park-like open lot, this home includes an open front porch to enjoy the front yard, which includes a walkway, new trees, flowers, and shrubs, and a parking pad. The rear deck overlooks a large, fenced backyard that includes a fire pit, bird bath, apple trees, blueberry plant, hickory trees, and a concrete table and benches. The eat-in kitchen includes a dishwasher, refrigerator, and newer gas stove, with updated cabinets and counter space, with newer maintenance-free flooring. Home is tastefully painted with numerous updates, including upstairs laundry, new sewer line, new double-hung windows upstairs with sliders, plexiglass, and one double-hung window in the basement. Very little maintenance required with steel roof, new windows, and vinyl siding. Basement previously used as a wood shop, but can be used for storage as well. Appliances include stove, refrigerator, washer, and dryer. All on a quiet street!

22. 2023-12-19
    soldstatus $166,000
23. 2023-12-12
    soldstatus $166,000 Closed 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

24. 2023-11-23
    status Pending 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

25. 2023-11-19
    status Active 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

26. 2023-11-07
    status Pending 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

27. 2023-10-25
    price $168,000 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

28. 2023-10-11
    price $170,000 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

29. 2023-09-29
    status Active 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

30. 2023-09-29
    price $175,000 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

31. 2023-08-19
    historical Contingent 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

32. 2023-08-16
    price $179,000 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

33. 2023-08-10
    price $185,000 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

34. 2023-07-30
    listed $189,000 Active 541-char remark

    Show marketing remark (541 chars)

    Walk to sweet downtown Lancaster! A complete update on this charming ranch on a full basement! The welcoming southern front porch invites you into this home that just feels warm and cozy! Vinyl plank flooring throughout...no carpet! Kitchen has all stainless steel appliances and solid surface countertops. All new bathroom and 3 bright bedrooms as well as a full walkout basement. The home is surrounded by green space and has a large flat yard .*buyers to satisfy themselves as to square footage and lot size (home has not been appraised)

35. 2023-06-21
    soldstatus $80,000

ⓘ 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: $1,304 · $109/mo
• Projected year-2 tax: $1,591 · $133/mo
• Expected delta: +$287/yr (+$24/mo · 22.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $21,525
• − Mortgage interest: −$10,363
• − Property taxes: −$1,304
• − Insurance: −$925
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$5,382
• Taxable income: $107
• Est. tax owed @ 24.0%: −$26
• After-tax cash flow: $3,108/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: Garrard County
• NCES district ID: 2102160
• Math proficiency: 28% ▼ -12.00%
• Reading proficiency: 42% ▼ -11.00%
• Median HH income: $43,411
• Composite: 29.67/100
• National rank: #6462
• State rank: #63 of 165 in KY

Livability — Lancaster

• Score: 63/100
• State rank: #314
• US rank: #15040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, KY
• Population (ZIP): 14,207

Population outlook (Garrard County) Hauer SSP2

• Today (2025): 17,852 people
• By 2030: 18,018 · +0.9%
• By 2040: 18,076 · +1.3%
• By 2050: 17,592 · -1.5%
• By 2075: 16,128 · -9.7%
• By 2100: 13,489 · -24.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 1% Subsaharan African 1% Slovak 1%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Garrard

• 2024 margin: Solid R (+60.2) · D 19.3% · R 79.5% · Other 1.3%
• 2008→2024 swing: -17.1pp toward R · 2008: -43.1pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+56.6 2016: R+58.5 2012: R+51.6 2008: R+43.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.08%
• Current HPI: 297.6233
• 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

+137.5% since first listed

16 events — show timeline

• 2026-04-28 Price Changed $190,000 ImagineMLS
• 2026-04-17 Listed $199,000 ImagineMLS
• 2023-12-19 Sold (Public Records) $166,000 Public Records
• 2023-12-12 Sold (MLS) $166,000 ImagineMLS
• 2023-11-23 Pending — ImagineMLS
• 2023-11-19 Relisted — ImagineMLS
• 2023-11-07 Pending — ImagineMLS
• 2023-10-25 Price Changed $168,000 ImagineMLS
• 2023-10-11 Price Changed $170,000 ImagineMLS
• 2023-09-29 Relisted — ImagineMLS
• 2023-09-29 Price Changed $175,000 ImagineMLS
• 2023-08-19 Contingent — ImagineMLS
• 2023-08-16 Price Changed $179,000 ImagineMLS
• 2023-08-10 Price Changed $185,000 ImagineMLS
• 2023-07-30 Listed $189,000 ImagineMLS
• 2023-06-21 Sold (Public Records) $80,000 Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,304 · -29.9% YoY. Source: county tax records.