2806 Hanna Pl · Lexington-Fayette, KY 40509

$170,000

2 bd · 2.5 ba · 1,088 sqft · Townhouse public records · 138 Days on market

Built 1999 1,739 sqft lot Est $205k · 17% 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• 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

Welcome to this two-bedroom, two & half bathroom, two-story townhouse tucked away in a quiet, established neighborhood. Thoughtfully designed, the main level offers a comfortable living area, convenient half bath, and a functional kitchen ideal for everyday living or entertaining. Upstairs, both bedrooms feature private en-suite bathrooms, providing excellent separation of space and privacy. Whether you're a first-time buyer, downsizing, or seeking a smart investment, this property delivers flexibility and value. The low-maintenance layout makes it perfect for owner-occupants, while the bedroom-bath configuration and strong rental appeal make it an excellent income-producing opportuni

Key facts

• Built 1999
• Listed 138 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Duplex; Two levels
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built area approximately 1,088
• Exterior features: Public water; Not on waterfront

Interior

• Kitchen: Dishwasher; Refrigerator; Range
• Bedrooms: 7 total rooms (bedroom count not separately listed)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Heat pump; Central air
• Interior features: Eat-in kitchen; Ceiling fan(s); Insulated windows; Blinds
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $211 ($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 $156k (8.0% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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); Henry Clay High School (math 43% / reading 49%, grade D-, #20 of 254 statewide, top 8%, 2,031 students, 47% FRL) — zoned schools average 62% FRL vs 44% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• It's been on market 138 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 9.1

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	0.00mi	2/2.5	1,088 (0%)	2mo	$150,000	$138	98
3042 Bonanza Dr	0.28mi	2/2.0	1,100 (+1%)	1mo	$190,000	$173	82
2925 Rio Dosa Dr	0.30mi	2/2.0	1,071 (-2%)	7mo	$203,000	$190	76
2931 Rio Dosa Dr	0.31mi	2/2.0	1,125 (+3%)	3mo	$228,500	$203	76
307 Santa Fe Ct	0.35mi	2/2.0	1,140 (+5%)	5mo	$225,000	$197	70
277 Osage Ct	0.41mi	3/1.5 (+1)	1,080 (-1%)	2mo	$115,000	$106	69
292 Osage Ct	0.40mi	3/1.5 (+1)	1,080 (-1%)	5mo	$149,900	$139	68
209 Old Todds Rd #2109	0.30mi	2/1.5	1,008 (-7%)	4mo	$197,500	$196	66
2414 Lake Park Rd #2204	0.72mi	2/2.0	1,157 (+6%)	8mo	$195,000	$169	47
2414 Lake Park Rd #2105	0.72mi	2/2.0	1,157 (+6%)	10mo	$214,000	$185	46
2414 Lake Park Rd #6104	0.75mi	2/2.0	1,157 (+6%)	9mo	$225,000	$194	46
2414 Lake Park Rd #1204	0.73mi	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: -8.9%
• Equity multiple: 0.68×
• Total profit: $-15,381
• Equity at exit: $25,348

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,270
• Equity at exit: $14,698

Cash invested: $47,600 (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: 279
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,564 high
• Mortgage (P&I): −$891
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $211

Break-even live

Break-even rent $1,297

Max offer price $170,000

Occupancy floor 81%

Sensitivity live

Price	-10% $307	-5% $259	+0% $211	+5% $163	+10% $115
Rent	-10% $88	-5% $149	+0% $211	+5% $273	+10% $335
Rate	-1.0pp $297	-0.5pp $254	base $211	+0.5pp $167	+1.0pp $122

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: $42,500
• Closing costs: $5,100
• 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	24d	1	0.07mi
175 N Mount Tabor Rd Lexington, KY	1.0–2.0	1.0–2.0	847	$1,362	$1.61	14d	9	0.08mi
200 Alsab Ct Lexington, KY	2.0–3.0	1.5	940	$1,095	$1.16	24d	10	0.31mi
179 Hedgewood Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,375	$1.27	24d	1	0.31mi
2716 Chelsea Woods Ct Lexington, KY	2.0	1.0	861	$1,400	$1.63	14d	1	0.34mi
2720 Chelsea Woods Ct Lexington, KY	3.0	2.0	1018	$1,595	$1.57	24d	1	0.34mi
262 Osage Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,475	$1.37	24d	1	0.36mi
300 Quinton Ct Lexington, KY	1.0–3.0	1.0–2.0	927	$1,216	$1.31	14d	38	0.52mi
2400 Woodhill Dr Lexington, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.53mi
151 S Locust Hill Dr Lexington, KY	1.0–2.0	1.0–2.0	761	$1,348	$1.77	14d	19	0.53mi
2409 Timberhill Ct Unit 4 Lexington, KY	2.0	1.5	990	$1,150	$1.16	24d	1	0.65mi
251 Chippendale Cir Lexington, KY	1.0–2.0	1.0–2.0	842	$1,450	$1.72	14d	12	0.72mi
2334 Lake Park Rd Lexington, KY	1.0–2.0	1.0–2.0	837	$1,448	$1.73	14d	7	0.73mi
649 Hugging Bear Dr Lexington, KY	3.0	2.0	1253	$1,750	$1.40	21d	1	0.76mi
2414 Lake Park Rd Lexington, KY	1.0–3.0	1.0–2.0	1123	$1,650	$1.47	21d	3	0.77mi
2414 Lake Park Rd Lexington, KY	2.0–3.0	2.0	1352	$1,495	$1.11	14d	2	0.77mi
365 Darby Creek Rd Lexington, KY	2.0	1.5	1200	$1,299	$1.08	24d	1	0.90mi
409 Darby Creek Rd Unit Z1 Lexington, KY	2.0	1.5	1144	$1,299	$1.14	24d	1	0.91mi
175 N Locust Hill Dr Lexington, KY	1.0–2.0	1.0–2.0	700	$1,170	$1.67	14d	11	0.99mi
2116 Saint Teresa Dr Lexington, KY	3.0	1.0	999	$1,900	$1.90	24d	1	1.02mi
546 El Paseo Pl Lexington, KY	2.0	1.5	1044	$1,450	$1.39	14d	1	1.03mi
2360 Liberty Rd Lexington, KY	3.0	2.0	1415	$1,895	$1.34	14d	1	1.04mi
531 Laketower Dr Unit 304 Lexington, KY	1.0	1.0	965	$3,199	$3.32	24d	1	1.11mi
531 Laketower Dr Unit 506 Lexington, KY	2.0	2.0	1326	$4,699	$3.54	24d	1	1.11mi
531 Laketower Dr Unit 518 Lexington, KY	2.0	2.0	1175	$4,299	$3.66	24d	1	1.11mi
531 Laketower Dr Unit 414 Lexington, KY	2.0	2.0	1147	$3,499	$3.05	24d	1	1.11mi
531 Laketower Dr Unit 316 Lexington, KY	2.0	2.0	1175	$3,199	$2.72	24d	1	1.11mi
531 Laketower Dr Unit 220 Lexington, KY	1.0	1.0	965	$2,999	$3.11	24d	1	1.11mi
531 Laketower Dr Unit 303 Lexington, KY	1.0	1.0	971	$2,899	$2.99	24d	1	1.11mi
531 Laketower Dr Unit 515 Lexington, KY	1.0	1.0	805	$2,599	$3.23	24d	1	1.11mi
531 Laketower Dr Unit 418 Lexington, KY	2.0	2.0	1175	$3,799	$3.23	24d	1	1.11mi
531 Laketower Dr Unit 308 Lexington, KY	2.0	2.0	1326	$3,699	$2.79	24d	1	1.11mi
531 Laketower Dr Unit 522 Lexington, KY	2.0	2.0	1367	$5,699	$4.17	24d	1	1.11mi
531 Laketower Dr Unit 314 Lexington, KY	2.0	2.0	1147	$2,999	$2.61	14d	1	1.11mi
531 Laketower Dr Unit 502 Lexington, KY	2.0	2.0	1457	$5,499	$3.77	24d	1	1.11mi
531 Laketower Dr Unit 519 Lexington, KY	2.0	2.0	1441	$4,599	$3.19	24d	1	1.11mi
408 Bainbridge Ct Unit 408-9 Lexington, KY	2.0	1.5	1000	$1,295	$1.29	24d	1	1.16mi
2653 Twinbrooke Ln Lexington, KY	3.0	1.0	1400	$1,600	$1.14	24d	1	1.20mi
2041 Saint Michael Dr Unit 5 Lexington, KY	2.0	1.0	900	$1,250	$1.39	24d	1	1.21mi
2240 Kenwood Dr Lexington, KY	3.0	2.0	1264	$1,795	$1.42	14d	1	1.21mi

Listing history 6 events

1. 2026-05-10
   status Pending
2. 2025-12-23
   listed $170,000 Active
3. 2008-04-05
   historical
4. 2007-11-11
   historical
5. 2007-11-01
   listed $171,800
6. 2007-10-05
   listed $86,900

ⓘ 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: $744 · $62/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$718/yr (+$60/mo · 96.6%)

ⓘ 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: −$9,523
• − Property taxes: −$744
• − Insurance: −$850
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$4,945
• Taxable loss: −$297
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $2,606/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

+95.6% since first listed

6 events — show timeline

• 2026-05-10 Pending — ImagineMLS
• 2025-12-23 Listed $170,000 ImagineMLS
• 2008-04-05 Listing Removed — ImagineMLS
• 2007-11-11 Listing Removed — ImagineMLS
• 2007-11-01 Listed $171,800 ImagineMLS
• 2007-10-05 Listed $86,900 ImagineMLS

Property tax history

+1.8%/yr

Latest (2015): $744 · +1.8% YoY. Source: county tax records.