1312 Boonesborough Rd · Lexington-Fayette, KY 40475

$69,995

3 bd · 2.0 ba · 1,001 sqft · Other · 135 Days on market

Built 2026 $467/mo HOA · 30% of rent ↓ 34% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Champion Vertex model 16×66 home is a great family home which includes: Three bedrooms & two full baths Spacious laundry room Stylish kitchen with appliances included Deck and skirting included Modern finishes throughout

Key facts

• Laundry room
• Deck and skirting
• Modern finishes

Tags

• LAUNDRY ROOM
• KITCHEN WITH APPLIANCES
• DECK AND SKIRTING
• MODERN FINISHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 B — affects rentability + tenant quality, not the cash-flow math above.
• 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); 487 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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: HOA is 30% of rent.

Recommended offer $61,595 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 2.23% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.60%
• DSCR: 1.74
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.30×
• Total profit: $5,958
• Equity at exit: $10,436

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $27,553
• Equity at exit: $6,052

Cash invested: $19,599 (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: 487
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$29
• HOA: −$467
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $271

Break-even live

Break-even rent $1,216

Max offer price $69,995

Occupancy floor 78%

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: $17,499
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Foxborough Way Richmond, KY	1.0–3.0	1.0–2.0	1200	$2,100	$1.75	14d	1	0.74mi

HOA detail

• Monthly dues: $467 · $5,604/yr

Listing history 21 events

1. 2026-06-18
   days on market $69,995 Active 135 DOM
2. 2026-06-17
   days on market $69,995 Active 134 DOM
3. 2026-06-16
   days on market $69,995 Active 133 DOM
4. 2026-06-15
   days on market $69,995 Active 132 DOM
5. 2026-06-14
   days on market $69,995 Active 130 DOM
6. 2026-06-10
   days on market $69,995 Active 127 DOM
7. 2026-06-09
   days on market $69,995 Active 126 DOM
8. 2026-06-08
   days on market $69,995 Active 125 DOM
9. 2026-06-07
   days on market $69,995 Active 124 DOM
10. 2026-06-05
    days on market $69,995 Active 121 DOM
11. 2026-06-03
    days on market $69,995 Active 120 DOM
12. 2026-06-02
    days on market $69,995 Active 119 DOM
13. 2026-06-01
    days on market $69,995 Active 118 DOM
14. 2026-05-31
    days on market $69,995 Active 117 DOM
15. 2026-05-31
    days on market $69,995 Active 116 DOM
16. 2026-02-03
    listed $69,995 Active 236-char remark

    Show marketing remark (236 chars)

    The Champion Vertex model 16×66 home is a great family home which includes: Three bedrooms & two full baths Spacious laundry room Stylish kitchen with appliances included Deck and skirting included Modern finishes throughout

17. 2003-12-01
    soldstatus $98,000 311-char remark

    Show marketing remark (311 chars)

    MINUTES from Lexington or Richmond. Great location! Great house! Great yard! Home features neutral decor, ceiling fans, gas log fireplace, fresh paint, 2nd kitchen in basement, whirlpool tub, Yard is partially fenced in and fully landscaped with mature trees/shrubs & flowers. Lovely! Square footage approx.

18. 2003-11-26
    historical
19. 2003-11-05
    historical 311-char remark

    Show marketing remark (311 chars)

    MINUTES from Lexington or Richmond. Great location! Great house! Great yard! Home features neutral decor, ceiling fans, gas log fireplace, fresh paint, 2nd kitchen in basement, whirlpool tub, Yard is partially fenced in and fully landscaped with mature trees/shrubs & flowers. Lovely! Square footage approx.

20. 2003-05-12
    listed $106,000
21. 2003-04-22
    listed $106,000 311-char remark

    Show marketing remark (311 chars)

    MINUTES from Lexington or Richmond. Great location! Great house! Great yard! Home features neutral decor, ceiling fans, gas log fireplace, fresh paint, 2nd kitchen in basement, whirlpool tub, Yard is partially fenced in and fully landscaped with mature trees/shrubs & flowers. Lovely! Square footage approx.

ⓘ 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: $1,172 · $98/mo
• Projected year-2 tax: $1,172 · $98/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $18,714
• − Mortgage interest: −$3,921
• − Property taxes: −$1,172
• − Insurance: −$350
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − HOA: −$5,604
• − Depreciation: −$2,036
• Taxable income: $2,636
• Est. tax owed @ 24.0%: −$633
• After-tax cash flow: $2,620/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 — Lexington-Fayette

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

Census & demographics

• 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

-34.0% since first listed

6 events — show timeline

• 2026-02-03 Listed $69,995 Zillow
• 2003-12-01 Sold (MLS) $98,000 ImagineMLS
• 2003-11-26 Listing Removed — ImagineMLS
• 2003-11-05 Listing Removed — ImagineMLS
• 2003-05-12 Listed $106,000 ImagineMLS
• 2003-04-22 Listed $106,000 ImagineMLS

Property tax history

+0.7%/yr

Latest (2025): $1,172 · -1.6% YoY. Source: county tax records.