107 Elaine Ave · Richmond, KY 40475

$199,000

3 bd · 1.0 ba · 1,378 sqft · Other · 49 Days on market

Built 1983 0.36 ac lot $144/sqft · 34% below area Est $300k · 34% 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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bedford Stone Beauty! Solid, timeless, and always in style! This classic Bedford stone ranch is the kind of home buyers search for but rarely find. Sitting in a quiet, low-traffic neighborhood, it offers true one-level living with a spacious yard. The shed adds extra storage for tools, toys, or weekend projects, while the peaceful setting makes coming home feel like a reset every day. If you've been waiting for a thoughtfully built ranch with character, this is the one you don't want to miss!

Key facts

• Spacious yard
• Extra storage
• Peaceful setting

Tags

• ONE LEVEL LIVING
• SPACIOUS YARD
• EXTRA STORAGE
• PEACEFUL SETTING
• THOUGHTFULLY BUILT RANCH

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: One-story house
• Construction: Stone and vinyl siding exterior; Shingle roof; Block foundation; Built as a house (structure type)
• Exterior features: Shed(s); Many trees; Neighborhood view

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Total rooms: 7
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Heat pump; Electric cooling; Heat pump cooling
• Interior features: Primary bedroom on the first floor; Ceiling fans; Blinds on windows; Crawl space basement; No fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $199k.

Deal economics

• At list price, monthly cash flow is $69 ($824/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 $170k (14.5% below list).
• Recommended offer: $170k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.1% in Richmond — 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 69/100 on livability (#163 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• 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.
• Zoned schools: Waco Elementary School (math 22% / reading 32%, grade F, #434 of 676 statewide, top 69%, 428 students, 57% FRL); Clark Moores Middle School (math 16% / reading 47%, grade F, #125 of 217 statewide, top 63%, 546 students, 60% FRL); Madison Central High School (math 29% / reading 44%, grade F, #70 of 254 statewide, top 27%, 2,226 students, 47% FRL).
• Market conditions: Rents rising (+2.8%/yr); 487 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 453 units permitted in Madison County in 2024 (64 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Madison County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 13 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 $170,190 (14.5% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.86% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (median comp): $299,595
• List price: $199,000
• Delta: -33.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-28,214
• Equity at exit: $29,672

10-year hold

• IRR: -5.7%
• Equity multiple: 0.64×
• Total profit: $-20,336
• Equity at exit: $17,206

Cash invested: $55,720 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,702 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $69

Break-even live

Break-even rent $1,615

Max offer price $199,000

Occupancy floor 91%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 Candy Apple Ln Unit A Richmond, KY	3.0	2.0	1625	$1,995	$1.23	43d	1	0.48mi
340 Pageant DR Richmond, KY	3.0	2.0	1625	$2,100	$1.29	14d	1	0.51mi

Listing history 50 events

1. 2026-06-18
   days on market $199,000 Active 49 DOM
2. 2026-06-17
   days on market $199,000 Active 48 DOM
3. 2026-06-16
   days on market $199,000 Active 47 DOM
4. 2026-06-15
   days on market $199,000 Active 46 DOM
5. 2026-06-14
   days on market $199,000 Active 44 DOM
6. 2026-06-10
   days on market $199,000 Active 41 DOM
7. 2026-06-09
   days on market $199,000 Active 40 DOM
8. 2026-06-08
   days on market $199,000 Active 39 DOM
9. 2026-06-07
   days on market $199,000 Active 38 DOM
10. 2026-06-05
    days on market $199,000 Active 35 DOM
11. 2026-06-03
    days on market $199,000 Active 34 DOM
12. 2026-06-02
    days on market $199,000 Active 33 DOM
13. 2026-06-01
    days on market $199,000 Active 32 DOM
14. 2026-05-31
    days on market $199,000 Active 31 DOM
15. 2026-05-31
    days on market $199,000 Active 30 DOM
16. 2026-04-30
    listed $199,000 Active 497-char remark
17. 2026-04-30
    historical
18. 2026-01-23
    listed $199,000 Active
19. 2025-12-07
    historical
20. 2025-09-03
    price $199,000
21. 2025-07-14
    price $205,000
22. 2025-06-20
    listed $210,000 Active
23. 2024-08-09
    soldstatus $190,000
24. 2024-07-19
    soldstatus $190,000 Closed
25. 2024-06-14
    status Pending
26. 2024-06-13
    price $192,500
27. 2024-06-06
    listed $194,900 Active
28. 2024-06-06
    historical
29. 2024-06-04
    price $194,900
30. 2024-05-28
    price $199,900
31. 2024-05-23
    price $209,900
32. 2024-05-12
    listed $214,900 Active
33. 2021-01-20
    soldstatus $135,000
34. 2021-01-08
    soldstatus $135,000 Sold
35. 2020-12-23
    status Pending
36. 2020-12-21
    price $137,500
37. 2020-12-21
    status Active
38. 2020-12-07
    historical
39. 2020-12-04
    historical Contingent
40. 2020-12-03
    status Active
41. 2020-11-23
    status Pending
42. 2020-11-22
    price $139,500
43. 2020-11-06
    listed $142,500 Active
44. 2020-05-14
    soldstatus $50,000 Sold
45. 2020-04-10
    status Pending
46. 2020-04-08
    status Active
47. 2020-03-10
    status Pending
48. 2020-02-28
    listed $48,000 Active
49. 2015-02-03
    soldstatus $82,000
50. 2015-01-29
    soldstatus $82,000

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $1,792 · $149/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 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: $20,423
• − Mortgage interest: −$11,147
• − Property taxes: −$1,792
• − Insurance: −$995
• − Repairs & maintenance: −$1,634
• − Management: −$1,634
• − Depreciation: −$5,789
• Taxable loss: −$2,568
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $1,441/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 — Richmond

• Score: 69/100
• State rank: #163
• US rank: #8196

Category grades

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

Schools grade is shown separately in the Schools card above.

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

+100.0% since first listed

41 events — show timeline

• 2026-04-30 Listing Removed — ImagineMLS
• 2026-04-30 Listed $199,000 ImagineMLS
• 2026-01-23 Listed $199,000 ImagineMLS
• 2025-12-07 Listing Removed — ImagineMLS
• 2025-09-03 Price Changed $199,000 ImagineMLS
• 2025-07-14 Price Changed $205,000 ImagineMLS
• 2025-06-20 Listed $210,000 ImagineMLS
• 2024-08-09 Sold (Public Records) $190,000 Public Records
• 2024-07-19 Sold (MLS) $190,000 ImagineMLS
• 2024-06-14 Pending — ImagineMLS
• 2024-06-13 Price Changed $192,500 ImagineMLS
• 2024-06-06 Listing Removed — ImagineMLS
• 2024-06-06 Listed $194,900 ImagineMLS
• 2024-06-04 Price Changed $194,900 ImagineMLS
• 2024-05-28 Price Changed $199,900 ImagineMLS
• 2024-05-23 Price Changed $209,900 ImagineMLS
• 2024-05-12 Listed $214,900 ImagineMLS
• 2021-01-20 Sold (Public Records) $135,000 Public Records
• 2021-01-08 Sold (MLS) $135,000 ImagineMLS
• 2020-12-23 Pending — ImagineMLS
• 2020-12-21 Price Changed $137,500 ImagineMLS
• 2020-12-21 Relisted — ImagineMLS
• 2020-12-07 Listing Removed — ImagineMLS
• 2020-12-04 Contingent — ImagineMLS
• 2020-12-03 Relisted — ImagineMLS
• 2020-11-23 Pending — ImagineMLS
• 2020-11-22 Price Changed $139,500 ImagineMLS
• 2020-11-06 Listed $142,500 ImagineMLS
• 2020-05-14 Sold (MLS) $50,000 ImagineMLS
• 2020-04-10 Pending — ImagineMLS
• 2020-04-08 Relisted — ImagineMLS
• 2020-03-10 Pending — ImagineMLS
• 2020-02-28 Listed $48,000 ImagineMLS
• 2015-02-03 Sold (Public Records) $82,000 Public Records
• 2015-01-29 Sold (MLS) $82,000 ImagineMLS
• 2014-12-29 Listing Removed — ImagineMLS
• 2014-09-19 Listed $89,000 ImagineMLS
• 2011-02-19 Listing Removed — ImagineMLS
• 2010-08-19 Listed $92,000 ImagineMLS
• 2008-11-24 Listing Removed — ImagineMLS
• 2007-10-15 Listed $99,500 ImagineMLS

Property tax history

+8.2%/yr

Latest (2025): $1,792 · +38.5% YoY. Source: county tax records.