217 & 219 Elizabeth Dr Unit 217 219 A-B · Hazard, KY 41701

$347,000

12 bd · 12.0 ba · 1,956 sqft · MultiFamily · 82 Days on market

Built 2004 Good condition 0.41 ac lot $177/sqft · 165% above area

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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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +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: 3 units. confirmed

Listing remarks MLS

Strong investment opportunity with this well-maintained triplex, ideal for both seasoned and first-time investors. Each unit offers comfortable living spaces with solid rental appeal, providing consistent income. This property has a proven rental history and is perfect for generating cash flow or expanding your portfolio. Whether you choose to live in one unit and rent the others or fully lease all three, this triplex offers flexibility and long-term value.

Key facts

• 0.41 acre lot
• 6 parking spots
• Built 2004

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/4.0-bath units multifamily listed at $347k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive. Per door: $286/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $347k).
• Recommended offer: $326k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.9% in Hazard — 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 68/100 on livability (#196 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, schools D+, amenities F.
• Hazard Independent (town): math 31% / reading 48% proficiency, ranked #39 of 165 in KY (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Perry County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($326k) is reasonable based on typical stale-listing flexibility.

Recommended offer $326,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.19% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.61%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $130,859
• List price: $347,000
• Delta: 165.17%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.4%
• Equity multiple: 0.99×
• Total profit: $-1,448
• Equity at exit: $51,739

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $69,451
• Equity at exit: $30,002

Cash invested: $97,160 (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 41701

• Home prices YoY: -14.4%
• Active inventory: 56
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $4,123 medium
• Mortgage (P&I): −$1,820
• Tax est. 1.5%: −$434 /mo · $5,205/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$866
• Net cashflow: $859

Break-even live

Break-even rent $3,035

Max offer price $347,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,099	-5% $979	+0% $859	+5% $739	+10% $619
Rent	-10% $533	-5% $696	+0% $859	+5% $1,022	+10% $1,185
Rate	-1.0pp $1,034	-0.5pp $947	base $859	+0.5pp $769	+1.0pp $678

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	4	$4,122
Total (3 units)			$4,123

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: $86,750
• Closing costs: $10,410
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $347,000 Active 82 DOM
2. 2026-06-18
   days on market $347,000 Active 80 DOM
3. 2026-06-17
   days on market $347,000 Active 79 DOM
4. 2026-06-16
   days on market $347,000 Active 78 DOM
5. 2026-06-15
   days on market $347,000 Active 77 DOM
6. 2026-06-13
   days on market $347,000 Active 75 DOM
7. 2026-06-12
   days on market $347,000 Active 74 DOM
8. 2026-06-09
   days on market $347,000 Active 71 DOM
9. 2026-06-08
   days on market $347,000 Active 70 DOM
10. 2026-06-07
    days on market $347,000 Active 69 DOM
11. 2026-06-07
    days on market $347,000 Active 68 DOM
12. 2026-06-04
    days on market $347,000 Active 65 DOM
13. 2026-06-02
    days on market $347,000 Active 64 DOM
14. 2026-06-01
    days on market $347,000 Active 63 DOM
15. 2026-05-31
    days on market $347,000 Active 62 DOM
16. 2026-05-31
    days on market $347,000 Active 61 DOM
17. 2026-03-29
    listed $397,000 Active 464-char remark

    Show marketing remark (464 chars)

    Strong investment opportunity with this well-maintained triplex, ideal for both seasoned and first-time investors. Each unit offers comfortable living spaces with solid rental appeal, providing consistent income. This property has a proven rental history and is perfect for generating cash flow or expanding your portfolio. Whether you choose to live in one unit and rent the others or fully lease all three, this triplex offers flexibility and long-term value.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $49,476
• − Mortgage interest: −$19,437
• − Property taxes: −$5,205
• − Insurance: −$1,735
• − Repairs & maintenance: −$3,958
• − Management: −$3,958
• − Depreciation: −$10,095
• Taxable income: $5,088
• Est. tax owed @ 24.0%: −$1,221
• After-tax cash flow: $9,088/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained triplex is in good condition with minimal repairs needed. Painting the exterior trim and maintaining the HVAC system will further enhance its value and appeal to potential buyers and renters.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Keeps the property in good condition and prevents water damage.
• Rental Replace HVAC filters — Maintains air quality and ensures the HVAC system runs efficiently.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Keeps the property in good condition and prevents water damage. ↑
• Rental Replace HVAC filters — Maintains air quality and ensures the HVAC system runs efficiently. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hazard Independent
• NCES district ID: 2102670
• Math proficiency: 31% ▼ -17.00%
• Reading proficiency: 48% ▼ -11.00%
• Median HH income: $35,115
• Composite: 32.59/100
• National rank: #5676
• State rank: #39 of 165 in KY

Livability — Hazard

• Score: 68/100
• State rank: #196
• US rank: #9701

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazard, KY
• Population (ZIP): 16,646

Population outlook (Perry County) Hauer SSP2

• Today (2025): 24,976 people
• By 2030: 23,390 · -6.4%
• By 2040: 20,270 · -18.8%
• By 2050: 17,547 · -29.7%
• By 2075: 12,599 · -49.6%
• By 2100: 9,358 · -62.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Asian 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 98% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Perry

• 2024 margin: Solid R (+59.5) · D 19.7% · R 79.2% · Other 1.1%
• 2008→2024 swing: -27.5pp toward R · 2008: -32.0pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+54.3 2016: R+57.0 2012: R+58.5 2008: R+32.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.13%
• Current HPI: 143.629
• 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

1 event — show timeline

• 2026-03-29 Listed $397,000 ImagineMLS