133-139 Grinder Ct · Nicholasville, KY 40356

$495,000

8 bd · 4.0 ba · 3,462 sqft · MultiFamily public records · 3 Days on market

Built 2001 0.29 ac lot Est $471k · 5% over

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Why this score? — see what drove the D+ 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 +19.7/30.0
• DSCR +6.2/10.0
• ARV discount +5.2/15.0
• Rent growth +4.4/5.0
• 1% rule +4.1/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Condition / age +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: 4 units. confirmed

Listing remarks

A rare opportunity to own a quadraplex in Nicholasville. This one is located just off Short Shun. Each unit is 2 bedrooms and 1 bath. All units have their own laundry/ utility room! Parking lot has been recently paved, Some photos have been virtually staged to show what the unit could look like furnished!

Key facts

• Laundry utility room
• 0.29 acre lot
• Built 2001

Tags

• LAUNDRY UTILITY ROOM
• RECENTLY PAVED PARKING LOT

Property features AI

Finance

• Other:
• Financial info: 4 total units
• HOA & community:

Exterior

• Parking: Paved parking
• Security:
• Utilities:
• Home design: Quadruplex; 2 stories
• Construction:
• Exterior features: Shingle roof

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 4 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Washer and dryer hook-ups
• Laundry & utility: Washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $495k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive. Per door: $145/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $450k (9.2% below list).
• Recommended offer: $450k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.4% in Nicholasville — 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 66/100 on livability (#231 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Jessamine County (town): math 31% / reading 45% proficiency, ranked #37 of 165 in KY (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wilmore Elementary School (math 49% / reading 53%, grade C-, #94 of 676 statewide, top 14%, 496 students, 48% FRL); West Jessamine Middle School (math 32% / reading 53%, grade D-, #47 of 217 statewide, top 22%, 904 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising fast (+7.5%/yr); 496 active listings in the ZIP; 267 units permitted in Jessamine County in 2024 (9 in 5+ unit buildings).
• At $4,497/mo this rent would consume 72% of the median local household income ($74k/yr) (locally 1186% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Jessamine County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $139k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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.
• Current owner paid $192k; list at $495k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $449,700 (9.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.69%
• Cash-on-cash: 5.01%
• DSCR: 1.22
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $470,832
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
264 Grinder Ct	0.07mi	8/4.0	3,700 (+7%)	7mo	$450,000	$122	80
190-196 Grinder Ct	0.09mi	8/4.0	3,010 (-13%)	8mo	$410,000	$136	68

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 · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-22,302
• Equity at exit: $73,806

10-year hold

• IRR: 9.7%
• Equity multiple: 1.89×
• Total profit: $123,024
• Equity at exit: $42,799

Cash invested: $138,600 (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 40356

• Home prices YoY: -18.6%
• Rents YoY: 7.5%
• Active inventory: 496
• Price-to-rent: 36.7×

Monthly cashflow live

• Estimated rent: $4,497 medium
• Mortgage (P&I): −$2,596
• Tax from tax record: −$172 /mo · $2,067/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$944
• Net cashflow: $578

Break-even live

Break-even rent $3,765

Max offer price $495,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,496
Total (4 units)			$4,497

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $495,000 Active 3 DOM
2. 2026-06-17
   days on market $495,000 Active 2 DOM
3. 2026-06-16
   remarks 307-char remark
4. 2026-06-15
   remarks 219-char remark
5. 2026-06-15
   listed $495,000 Active 1 DOM

ⓘ 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: $2,067 · $172/mo
• Projected year-2 tax: $4,257 · $355/mo
• Expected delta: +$2,190/yr (+$182/mo · 106.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $53,964
• − Mortgage interest: −$27,728
• − Property taxes: −$2,067
• − Insurance: −$2,475
• − Repairs & maintenance: −$4,317
• − Management: −$4,317
• − Depreciation: −$14,400
• Taxable loss: −$1,340
• Est. tax savings @ 24.0%: +$322
• After-tax cash flow: $7,261/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: Jessamine County
• NCES district ID: 2103030
• Math proficiency: 31% ▼ -14.00%
• Reading proficiency: 45% ▼ -12.00%
• Median HH income: $50,249
• Composite: 32.81/100
• National rank: #5623
• State rank: #37 of 165 in KY

Livability — Nicholasville

• Score: 66/100
• State rank: #231
• US rank: #11266

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nicholasville, KY
• County: Jessamine County · 45,849 people
• City population: 45,849
• Metro: Lexington-Fayette, KY
• Population (ZIP): 45,849
• Household income: $74,495
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1186.0

Population outlook (Jessamine County) Hauer SSP2

• Today (2025): 58,419 people
• By 2030: 61,468 · +5.2%
• By 2040: 66,952 · +14.6%
• By 2050: 71,357 · +22.1%
• By 2075: 80,325 · +37.5%
• By 2100: 83,848 · +43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 5% Black 4% Asian 2%
• Common ancestry: Italian 2% Subsaharan African 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 2% Other Asian/Pacific 1%

Political lean MEDSL · Jessamine

• 2024 margin: Solid R (+35.9) · D 31.2% · R 67.0% · Other 1.8%
• 2008→2024 swing: +1.1pp toward D · 2008: -37.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.5 2016: R+40.0 2012: R+39.9 2008: R+37.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.88%
• Current HPI: 270.2432
• Rent YoY: ▲ 7.50%
• 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

+125.1% since first listed

6 events — show timeline

• 2026-06-15 Listed $495,000 ImagineMLS
• 2009-12-01 Sold (Public Records) $192,500 Public Records
• 2007-04-27 Listing Removed — ImagineMLS
• 2007-01-31 Listed $221,000 ImagineMLS
• 2002-11-12 Listing Removed — ImagineMLS
• 2002-07-10 Listed $219,900 ImagineMLS