115 Waveland Ave · Danville, KY 40422

$105,000

3 bd · 1.0 ba · 853 sqft · Other public records · 429 Days on market

0.34 ac lot ↓ 12% since listing

---

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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.34 acre lot
• Garage
• Listed 429 days

Property features AI

Finance

• Other: Parcel number D14-019-006

Exterior

• Parking: Driveway and off-street parking; Garage facing the rear; Basement-level parking access
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available; Phone available; Water available; Sewer available
• Home design: Single-story house
• Construction: Block foundation; Metal roof; Other construction materials; Built area approximately 853
• Exterior features: Public water service; Not waterfront; No notable view

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning; Electric cooling
• Interior features: Unfinished walk-out basement with exterior entry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $105k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.0% in Danville — 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 77/100 on livability (#85 in KY, #3,148 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Danville Independent (town): math 26% / reading 35% proficiency, ranked #110 of 165 in KY (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary G. Hogsett Primary School (367 students, 81% FRL); John W. Bate Middle School (math 19% / reading 37%, grade F, #165 of 217 statewide, top 77%, 399 students, 66% FRL); Danville High School (math 32% / reading 32%, grade F, #97 of 254 statewide, top 46%, 481 students, 63% FRL).
• Market conditions: 165 active listings in the ZIP; 85 units permitted in Boyle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Boyle County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 429 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 429 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: 1.23% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.10%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $1,892
• Equity at exit: $15,656

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $26,048
• Equity at exit: $9,078

Cash invested: $29,400 (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 40422

• Home prices YoY: -12.8%
• Active inventory: 165
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $297

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 72%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-15
   status Pending
2. 2025-09-02
   price $105,000
3. 2025-03-12
   listed $119,500 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 20 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: $15,527
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$3,055
• Taxable income: $2,006
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $3,077/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: Danville Independent
• NCES district ID: 2101440
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 35% ▼ -16.00%
• Median HH income: $34,215
• Composite: 25.08/100
• National rank: #7535
• State rank: #110 of 165 in KY

Livability — Danville

• Score: 77/100
• State rank: #85
• US rank: #3148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, KY
• County: Boyle County · 25,950 people
• City population: 25,950
• Metro: Danville, KY
• Population (ZIP): 25,950
• Household income: $59,615
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 1047.0

Population outlook (Boyle County) Hauer SSP2

• Today (2025): 31,908 people
• By 2030: 32,875 · +3.0%
• By 2040: 34,549 · +8.3%
• By 2050: 36,095 · +13.1%
• By 2075: 39,800 · +24.7%
• By 2100: 40,157 · +25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Boyle

• 2024 margin: Strong R (+29.0) · D 34.7% · R 63.7% · Other 1.5%
• 2008→2024 swing: -5.8pp toward R · 2008: -23.2pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+24.7 2016: R+29.1 2012: R+26.1 2008: R+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.55%
• Current HPI: 262.516
• Rent YoY: —
• Metro: Danville, 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

-12.1% since first listed

3 events — show timeline

• 2026-05-15 Pending — ImagineMLS
• 2025-09-02 Price Changed $105,000 ImagineMLS
• 2025-03-12 Listed $119,500 ImagineMLS