814 Holmes St · Frankfort, KY 40601

$80,000

2 bd · 1.0 ba · 956 sqft · SingleFamily public records · 23 Days on market

Built 1973 6,750 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors Dream!! Priced well below October 2014 appraisal. Take advantage of this great opportunity. Seller wants to bundle 3 properties at less than $100,000! 818 First Ave, 814 Holmes, and Duplex 818-820 Holmes St. All four units are currently rented with a monthly income of $1980 utilities not included. AS-IS but inspections are welcome. Pricing includes 814 Holmes St. and 818 First Ave (Listing #1521193). 814 Holmes is rented at $525 per month plus utilities.

Key facts

• 6,750 sq ft lot
• Built 1973
• Listed 22 days

Property features AI

Finance

• Other: Lot size approximately 0.155 acres (6,750 sq ft); Located in Downtown subdivision; County: Franklin

Exterior

• Parking: Other parking
• Utilities: Public sewer
• Home design: House; One and one half levels
• Construction: Wood siding; Block foundation; Shingle roof; Total building area 956
• Exterior features: Public water; Not on waterfront

Interior

• Bedrooms: 2 total rooms (includes bedrooms and living spaces)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Vinyl flooring; Unfinished basement; No fireplace

🏷️ Possibly a rental listed for sale. The $80,000 price doesn't fit this home's estimated sale value (~$164,432) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.3% in Frankfort — 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 74/100 on livability (#111 in KY, #4,772 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, schools D, amenities F.
• Franklin County (town): math 25% / reading 37% proficiency, ranked #89 of 165 in KY (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.5%/yr); 306 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 123 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Franklin County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.31% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $164,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Swigert Ave	0.22mi	2/1.0	1,008 (+5%)	2mo	$138,000	$137	79
903 Grant St	0.13mi	2/1.0	889 (-7%)	4mo	$155,000	$174	79
304 Noel Ave	0.31mi	2/1.0	946 (-1%)	8mo	$165,000	$174	77
113 Noel Ave	0.17mi	2/1.0	1,034 (+8%)	11mo	$177,500	$172	69
106 Spring St	0.41mi	3/1.0 (+1)	988 (+3%)	10mo	$140,000	$142	62
137 Allnutt Dr	0.62mi	2/1.0	936 (-2%)	8mo	$165,000	$176	61
104 Spring St	0.41mi	3/1.0 (+1)	875 (-8%)	3mo	$78,000	$89	59
111 Willow St	0.43mi	3/1.0 (+1)	875 (-8%)	3mo	$73,000	$83	58
103 Valley View Dr	0.62mi	2/1.0	1,001 (+5%)	8mo	$190,000	$190	56
138 Oaklawn Dr	0.57mi	3/1.0 (+1)	1,037 (+8%)	8mo	$215,000	$207	48
432 Owenton Ave	0.55mi	2/1.0	1,080 (+13%)	6mo	$19,000	$18	47
105 Maple Ave	0.69mi	2/1.0	858 (-10%)	9mo	$90,000	$105	43

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 · 6.55% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.51×
• Total profit: $11,330
• Equity at exit: $11,928

10-year hold

• IRR: 23.7%
• Equity multiple: 3.38×
• Total profit: $53,283
• Equity at exit: $6,917

Cash invested: $22,400 (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 40601

• Home prices YoY: -26.1%
• Rents YoY: 6.5%
• Active inventory: 306
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $321

Break-even live

Break-even rent $646

Max offer price $80,000

Occupancy floor 65%

Sensitivity live

Price	-10% $366	-5% $343	+0% $321	+5% $298	+10% $275
Rent	-10% $237	-5% $279	+0% $321	+5% $362	+10% $404
Rate	-1.0pp $361	-0.5pp $341	base $321	+0.5pp $300	+1.0pp $279

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Compton Dr Frankfort, KY	2.0	1.0	500	$930	$1.86	45d	9	0.44mi
565 Schenkel Ln Frankfort, KY	2.0–3.0	1.0–2.0	987	$877	$0.89	15d	8	0.68mi
315 Bypass Plaza Dr Frankfort, KY	2.0–3.0	1.0–2.0	825	$1,049	$1.27	45d	2	0.83mi
720 Ridgeview Dr Frankfort, KY	2.0	1.0–2.0	576	$1,170	$2.03	45d	11	1.16mi

Listing history 40 events

1. 2026-06-21
   days on market $80,000 Active 23 DOM
2. 2026-06-19
   days on market $80,000 Active 21 DOM
3. 2026-06-18
   days on market $80,000 Active 20 DOM
4. 2026-06-17
   days on market $80,000 Active 19 DOM
5. 2026-06-16
   days on market $80,000 Active 18 DOM
6. 2026-06-15
   days on market $80,000 Active 17 DOM
7. 2026-06-14
   days on market $80,000 Active 15 DOM
8. 2026-06-12
   days on market $80,000 Active 14 DOM
9. 2026-06-09
   days on market $80,000 Active 11 DOM
10. 2026-06-08
    days on market $80,000 Active 10 DOM
11. 2026-06-07
    days on market $80,000 Active 9 DOM
12. 2026-06-05
    days on market $80,000 Active 6 DOM
13. 2026-06-03
    days on market $80,000 Active 5 DOM
14. 2026-06-02
    statusdays on market $80,000 Active 4 DOM
15. 2026-05-21
    status Pending
16. 2026-05-15
    listed $80,000 Active
17. 2026-01-21
    historical Contingent
18. 2026-01-21
    historical
19. 2026-01-15
    price $325,000
20. 2025-12-16
    status Active
21. 2025-12-01
    historical
22. 2025-11-07
    price $350,000
23. 2025-09-05
    status Active
24. 2025-09-01
    historical
25. 2025-03-20
    listed $370,000 Active
26. 2021-04-05
    soldstatus $250,000
27. 2019-08-15
    soldstatus $212,000
28. 2016-08-22
    soldstatus $53,000
29. 2016-02-10
    price $23,500 468-char remark

    Show marketing remark (468 chars)

    Investors Dream!! Priced well below October 2014 appraisal. Take advantage of this great opportunity. Seller wants to bundle 3 properties at less than $100,000! 818 First Ave, 814 Holmes, and Duplex 818-820 Holmes St. All four units are currently rented with a monthly income of $1980 utilities not included. AS-IS but inspections are welcome. Pricing includes 814 Holmes St. and 818 First Ave (Listing #1521193). 814 Holmes is rented at $525 per month plus utilities.

30. 2016-02-04
    soldstatus $19,000 Sold 468-char remark

    Show marketing remark (468 chars)

    Investors Dream!! Priced well below October 2014 appraisal. Take advantage of this great opportunity. Seller wants to bundle 3 properties at less than $100,000! 818 First Ave, 814 Holmes, and Duplex 818-820 Holmes St. All four units are currently rented with a monthly income of $1980 utilities not included. AS-IS but inspections are welcome. Pricing includes 814 Holmes St. and 818 First Ave (Listing #1521193). 814 Holmes is rented at $525 per month plus utilities.

31. 2016-01-01
    status Pending 468-char remark

    Show marketing remark (468 chars)

    Investors Dream!! Priced well below October 2014 appraisal. Take advantage of this great opportunity. Seller wants to bundle 3 properties at less than $100,000! 818 First Ave, 814 Holmes, and Duplex 818-820 Holmes St. All four units are currently rented with a monthly income of $1980 utilities not included. AS-IS but inspections are welcome. Pricing includes 814 Holmes St. and 818 First Ave (Listing #1521193). 814 Holmes is rented at $525 per month plus utilities.

32. 2015-09-28
    listed $47,000 Active 468-char remark

    Show marketing remark (468 chars)

    Investors Dream!! Priced well below October 2014 appraisal. Take advantage of this great opportunity. Seller wants to bundle 3 properties at less than $100,000! 818 First Ave, 814 Holmes, and Duplex 818-820 Holmes St. All four units are currently rented with a monthly income of $1980 utilities not included. AS-IS but inspections are welcome. Pricing includes 814 Holmes St. and 818 First Ave (Listing #1521193). 814 Holmes is rented at $525 per month plus utilities.

33. 2015-09-28
    historical

    Show marketing remark (468 chars)

    Investors Dream!! Priced well below October 2014 appraisal. Take advantage of this great opportunity. Seller wants to bundle 3 properties at less than $100,000! 818 First Ave, 814 Holmes, and Duplex 818-820 Holmes St. All four units are currently rented with a monthly income of $1980 utilities not included. AS-IS but inspections are welcome. Pricing includes 814 Holmes St. and 818 First Ave (Listing #1521193). 814 Holmes is rented at $525 per month plus utilities.

34. 2015-08-31
    price $23,500
35. 2015-08-26
    listed $27,500 Active
36. 2015-05-13
    historical
37. 2014-08-13
    listed $39,900
38. 2013-01-09
    historical
39. 2012-07-09
    listed $55,000
40. 1998-02-26
    soldstatus $28,500

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $689 · $57/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,619
• − Mortgage interest: −$4,481
• − Property taxes: −$689
• − Insurance: −$400
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$2,327
• Taxable income: $2,703
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,197/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: Franklin County
• NCES district ID: 2102010
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 37% ▼ -14.00%
• Median HH income: $50,879
• Composite: 27.07/100
• National rank: #7049
• State rank: #89 of 165 in KY

Livability — Frankfort

• Score: 74/100
• State rank: #111
• US rank: #4772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frankfort, KY
• County: Franklin County · 51,893 people
• City population: 51,893
• Metro: Frankfort, KY
• Population (ZIP): 51,893
• Household income: $65,732
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1621.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 52,996 people
• By 2030: 54,049 · +2.0%
• By 2040: 55,561 · +4.8%
• By 2050: 56,677 · +6.9%
• By 2075: 59,458 · +12.2%
• By 2100: 58,885 · +11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Franklin

• 2024 margin: Toss-up / Even · D 46.6% · R 51.4% · Other 2.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -0.6pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+0.9 2016: R+4.6 2012: D+0.8 2008: R+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.43%
• Current HPI: 248.0324
• Rent YoY: ▲ 6.55%
• Metro: Frankfort, 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

+180.7% since first listed

26 events — show timeline

• 2026-05-21 Pending — ImagineMLS
• 2026-05-15 Listed $80,000 ImagineMLS
• 2026-01-21 Contingent — ImagineMLS
• 2026-01-21 Listing Removed — ImagineMLS
• 2026-01-15 Price Changed $325,000 ImagineMLS
• 2025-12-16 Relisted — ImagineMLS
• 2025-12-01 Listing Removed — ImagineMLS
• 2025-11-07 Price Changed $350,000 ImagineMLS
• 2025-09-05 Relisted — ImagineMLS
• 2025-09-01 Listing Removed — ImagineMLS
• 2025-03-20 Listed $370,000 ImagineMLS
• 2021-04-05 Sold (Public Records) $250,000 Public Records
• 2019-08-15 Sold (Public Records) $212,000 Public Records
• 2016-08-22 Sold (Public Records) $53,000 Public Records
• 2016-02-10 Price Changed $23,500 ImagineMLS
• 2016-02-04 Sold (MLS) $19,000 ImagineMLS
• 2016-01-01 Pending — ImagineMLS
• 2015-09-28 Listed $47,000 ImagineMLS
• 2015-09-28 Listing Removed — ImagineMLS
• 2015-08-31 Price Changed $23,500 ImagineMLS
• 2015-08-26 Listed $27,500 ImagineMLS
• 2015-05-13 Listing Removed — ImagineMLS
• 2014-08-13 Listed $39,900 ImagineMLS
• 2013-01-09 Listing Removed — ImagineMLS
• 2012-07-09 Listed $55,000 ImagineMLS
• 1998-02-26 Sold (Public Records) $28,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $689 · +1.3% YoY. Source: county tax records.