2814 Hanna Pl · Lexington-Fayette, KY 40509

$175,000

2 bd · 2.5 ba · 1,088 sqft · Townhouse public records · 6 Days on market

Built 1999 2,217 sqft lot Est $205k · 14% under

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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 +19.3/30.0
• ARV discount +14.0/15.0
• DSCR +6.1/10.0
• 1% rule +3.9/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great townhome with spacious rooms. First floor boasts a large living room with laminate floor and double window, an eat-in kitchen, large utility and half bath. The second floor features 2 oversized bedrooms and 2 baths. Extras include plush carpet, neutral paint, large closets, patio, landscaped and close to UK. This is a great place to call home or invest and rent to UK students. Call to take a look at all this home has to offer.

Key facts

• Green space
• Eat in kitchen
• Spacious patio

Tags

• TWO BEDROOM TOWNHOUSE
• EAT IN KITCHEN
• SPACIOUS PATIO
• GREEN SPACE
• EASY ACCESS TO NEW CIRCLE
• EASY ACCESS TO DOWNTOWN

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Two levels
• Construction: Brick veneer and vinyl siding
• Exterior features: Landscaped lot; Slab foundation; Dimensional style shingle roof

Interior

• Kitchen: Disposal; Refrigerator; Range
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Heat pump; Electric cooling; Heat pump cooling
• Interior features: Eat-in kitchen; Walk-in closet(s); Ceiling fan(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/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 $156k (10.6% below list).
• Recommended offer: $156k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: Madeline M Breckinridge Elem School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 509 students, 78% FRL); Edythe Jones Hayes Middle School (math 47% / reading 60%, grade C+, #13 of 217 statewide, top 6%, 1,081 students, 37% FRL); Henry Clay High School (math 43% / reading 49%, grade D-, #20 of 254 statewide, top 8%, 2,031 students, 47% FRL).
• Market conditions: Rents rising (+2.2%/yr); 280 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 26y 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.
• Current owner paid $61k; list at $175k implies a 187% gain — meaningful room to come down on a strong offer.

Recommended offer $156,398 (10.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.89% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $204,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2804 Hanna Pl	0.02mi	2/2.5	1,088 (0%)	2mo	$150,000	$138	98
3042 Bonanza Dr	0.26mi	2/2.0	1,100 (+1%)	1mo	$190,000	$173	83
2925 Rio Dosa Dr	0.28mi	2/2.0	1,071 (-2%)	7mo	$203,000	$190	77
2931 Rio Dosa Dr	0.29mi	2/2.0	1,125 (+3%)	3mo	$228,500	$203	76
943 Mcclanahan Ln Ln	0.16mi	2/2.0	1,156 (+6%)	11mo	$225,000	$195	71
307 Santa Fe Ct	0.33mi	2/2.0	1,140 (+5%)	5mo	$225,000	$197	70
277 Osage Ct	0.42mi	3/1.5 (+1)	1,080 (-1%)	2mo	$115,000	$106	69
292 Osage Ct	0.41mi	3/1.5 (+1)	1,080 (-1%)	5mo	$149,900	$139	67
209 Old Todds Rd #2109	0.32mi	2/1.5	1,008 (-7%)	4mo	$197,500	$196	65
2414 Lake Park Rd #2204	0.73mi	2/2.0	1,157 (+6%)	8mo	$195,000	$169	46
2414 Lake Park Rd #2105	0.74mi	2/2.0	1,157 (+6%)	10mo	$214,000	$185	45
2414 Lake Park Rd #1204	0.74mi	2/2.0	1,157 (+6%)	10mo	$217,000	$188	45

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 · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-17,388
• Equity at exit: $26,093

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-4,587
• Equity at exit: $15,131

Cash invested: $49,000 (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 40509

• Home prices YoY: -20.6%
• Rents YoY: 2.2%
• Active inventory: 280
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,564 high
• Mortgage (P&I): −$918
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $193

Break-even live

Break-even rent $1,320

Max offer price $175,000

Occupancy floor 83%

Sensitivity live

Price	-10% $292	-5% $242	+0% $193	+5% $143	+10% $94
Rent	-10% $69	-5% $131	+0% $193	+5% $254	+10% $316
Rate	-1.0pp $281	-0.5pp $237	base $193	+0.5pp $147	+1.0pp $101

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2824 Ryan Cir #3 Lexington, KY	1.0	1.0	982	$815	$0.83	25d	1	0.07mi
175 N Mount Tabor Rd Lexington, KY	1.0–2.0	1.0–2.0	847	$1,362	$1.61	15d	9	0.08mi
200 Alsab Ct Lexington, KY	2.0–3.0	1.5	940	$1,095	$1.16	25d	10	0.31mi
179 Hedgewood Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,375	$1.27	25d	1	0.31mi
2716 Chelsea Woods Ct Lexington, KY	2.0	1.0	861	$1,400	$1.63	15d	1	0.34mi
2720 Chelsea Woods Ct Lexington, KY	3.0	2.0	1018	$1,595	$1.57	25d	1	0.34mi
262 Osage Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,475	$1.37	25d	1	0.36mi
300 Quinton Ct Lexington, KY	1.0–3.0	1.0–2.0	927	$1,216	$1.31	15d	38	0.52mi
2400 Woodhill Dr Lexington, KY	3.0	1.0	1000	$1,250	$1.25	25d	1	0.53mi
151 S Locust Hill Dr Lexington, KY	1.0–2.0	1.0–2.0	761	$1,348	$1.77	15d	19	0.53mi
2409 Timberhill Ct Unit 4 Lexington, KY	2.0	1.5	990	$1,150	$1.16	25d	1	0.65mi
251 Chippendale Cir Lexington, KY	1.0–2.0	1.0–2.0	842	$1,450	$1.72	15d	12	0.72mi
2334 Lake Park Rd Lexington, KY	1.0–2.0	1.0–2.0	837	$1,448	$1.73	15d	7	0.73mi
649 Hugging Bear Dr Lexington, KY	3.0	2.0	1253	$1,750	$1.40	23d	1	0.76mi
2414 Lake Park Rd Lexington, KY	1.0–3.0	1.0–2.0	1123	$1,650	$1.47	23d	3	0.77mi
2414 Lake Park Rd Lexington, KY	2.0–3.0	2.0	1352	$1,495	$1.11	15d	2	0.77mi
365 Darby Creek Rd Lexington, KY	2.0	1.5	1200	$1,299	$1.08	25d	1	0.90mi
409 Darby Creek Rd Unit Z1 Lexington, KY	2.0	1.5	1144	$1,299	$1.14	25d	1	0.91mi
175 N Locust Hill Dr Lexington, KY	1.0–2.0	1.0–2.0	700	$1,170	$1.67	15d	11	0.99mi
2116 Saint Teresa Dr Lexington, KY	3.0	1.0	999	$1,900	$1.90	25d	1	1.02mi
546 El Paseo Pl Lexington, KY	2.0	1.5	1044	$1,450	$1.39	15d	1	1.03mi
2360 Liberty Rd Lexington, KY	3.0	2.0	1415	$1,895	$1.34	15d	1	1.04mi
531 Laketower Dr Unit 304 Lexington, KY	1.0	1.0	965	$3,199	$3.32	25d	1	1.11mi
531 Laketower Dr Unit 506 Lexington, KY	2.0	2.0	1326	$4,699	$3.54	25d	1	1.11mi
531 Laketower Dr Unit 518 Lexington, KY	2.0	2.0	1175	$4,299	$3.66	25d	1	1.11mi
531 Laketower Dr Unit 414 Lexington, KY	2.0	2.0	1147	$3,499	$3.05	25d	1	1.11mi
531 Laketower Dr Unit 316 Lexington, KY	2.0	2.0	1175	$3,199	$2.72	25d	1	1.11mi
531 Laketower Dr Unit 220 Lexington, KY	1.0	1.0	965	$2,999	$3.11	25d	1	1.11mi
531 Laketower Dr Unit 303 Lexington, KY	1.0	1.0	971	$2,899	$2.99	25d	1	1.11mi
531 Laketower Dr Unit 515 Lexington, KY	1.0	1.0	805	$2,599	$3.23	25d	1	1.11mi
531 Laketower Dr Unit 418 Lexington, KY	2.0	2.0	1175	$3,799	$3.23	25d	1	1.11mi
531 Laketower Dr Unit 308 Lexington, KY	2.0	2.0	1326	$3,699	$2.79	25d	1	1.11mi
531 Laketower Dr Unit 522 Lexington, KY	2.0	2.0	1367	$5,699	$4.17	25d	1	1.11mi
531 Laketower Dr Unit 314 Lexington, KY	2.0	2.0	1147	$2,999	$2.61	15d	1	1.11mi
531 Laketower Dr Unit 502 Lexington, KY	2.0	2.0	1457	$5,499	$3.77	25d	1	1.11mi
531 Laketower Dr Unit 519 Lexington, KY	2.0	2.0	1441	$4,599	$3.19	25d	1	1.11mi
408 Bainbridge Ct Unit 408-9 Lexington, KY	2.0	1.5	1000	$1,295	$1.29	25d	1	1.16mi
2653 Twinbrooke Ln Lexington, KY	3.0	1.0	1400	$1,600	$1.14	25d	1	1.20mi
2041 Saint Michael Dr Unit 5 Lexington, KY	2.0	1.0	900	$1,250	$1.39	25d	1	1.21mi
2240 Kenwood Dr Lexington, KY	3.0	2.0	1264	$1,795	$1.42	15d	1	1.21mi

Listing history 5 events

1. 2026-06-22
   days on market $175,000 Active 6 DOM
2. 2026-06-18
   days on market $175,000 Active 3 DOM
3. 2026-06-17
   days on market $175,000 Active 2 DOM
4. 2026-06-15
   remarks 459-char remark
5. 2026-06-15
   listed $175,000 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: $628 · $52/mo
• Projected year-2 tax: $1,505 · $125/mo
• Expected delta: +$877/yr (+$73/mo · 139.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $18,768
• − Mortgage interest: −$9,803
• − Property taxes: −$628
• − Insurance: −$875
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$5,091
• Taxable loss: −$632
• Est. tax savings @ 24.0%: +$152
• After-tax cash flow: $2,463/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): 47,036
• Household income: $94,804
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1763.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 84% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -58.72%
• Current HPI: 226.8663
• Rent YoY: ▲ 2.22%
• 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

+104.7% since first listed

28 events — show timeline

• 2026-06-15 Listed $175,000 ImagineMLS
• 2015-06-04 Sold (Public Records) $61,000 Public Records
• 2015-05-29 Sold (MLS) $61,000 ImagineMLS
• 2015-05-01 Listing Removed — ImagineMLS
• 2015-03-26 Listed $64,500 ImagineMLS
• 2014-11-21 Sold (MLS) $52,000 ImagineMLS
• 2014-10-29 Listing Removed — ImagineMLS
• 2014-07-01 Listed $59,900 ImagineMLS
• 2013-12-31 Listing Removed — ImagineMLS
• 2013-10-30 Listed $52,900 ImagineMLS
• 2013-10-30 Listing Removed — ImagineMLS
• 2012-05-02 Listed $52,900 ImagineMLS
• 2011-09-08 Listing Removed — ImagineMLS
• 2011-03-09 Listed $87,000 ImagineMLS
• 2007-05-30 Sold (Public Records) $84,000 Public Records
• 2007-05-17 Sold (MLS) $84,000 ImagineMLS
• 2007-04-28 Listing Removed — ImagineMLS
• 2007-03-16 Listing Removed — ImagineMLS
• 2006-11-20 Listed $87,900 ImagineMLS
• 2006-09-18 Listed $92,500 ImagineMLS
• 2004-07-27 Sold (MLS) $86,900 ImagineMLS
• 2004-07-01 Listing Removed — ImagineMLS
• 2004-05-05 Listed $88,900 ImagineMLS
• 2003-12-29 Listing Removed — ImagineMLS
• 2003-06-29 Listed $92,000 ImagineMLS
• 2000-07-19 Sold (MLS) $84,000 ImagineMLS
• 2000-06-13 Listing Removed — ImagineMLS
• 2000-04-05 Listed $85,500 ImagineMLS

Property tax history

-15.6%/yr

Latest (2015): $628 · -15.6% YoY. Source: county tax records.