253 Parrish Ave · Paris, KY 40361

$115,000

3 bd · 1.0 ba · 1,410 sqft · Other public records · 150 Days on market

5,183 sqft lot $82/sqft · 27% below area Est $206k · 44% 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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors!!! 3 Bed / 2 Bath with a large kitchen and nice backyard. Property is close to downtown. This home would make a great addition to your investment portfolio, currently rented for $1000.00 per month

Key facts

• Large kitchen
• Nice backyard
• Close to downtown

Tags

• LARGE KITCHEN
• NICE BACKYARD
• CLOSE TO DOWNTOWN

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$205,811) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/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 $104k (9.6% below list).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.3% in Paris — 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 67/100 on livability (#218 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Paris Independent (town): math 13% / reading 29% proficiency, ranked #159 of 165 in KY (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 126 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 90 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $90k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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. 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. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• GRM: 9.2

CMA / ARV

• ARV (median comp): $205,811
• List price: $115,000
• Delta: -44.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-9,434
• Equity at exit: $17,147

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $3,474
• Equity at exit: $9,943

Cash invested: $32,200 (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 40361

• Home prices YoY: -23.1%
• Active inventory: 126
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,039 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $145

Break-even live

Break-even rent $855

Max offer price $115,000

Occupancy floor 81%

Sensitivity live

Price	-10% $210	-5% $178	+0% $145	+5% $113	+10% $80
Rent	-10% $63	-5% $104	+0% $145	+5% $186	+10% $227
Rate	-1.0pp $203	-0.5pp $175	base $145	+0.5pp $116	+1.0pp $85

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
552 Vine St Paris, KY	2.0	1.0	900	$750	$0.83	21d	1	0.26mi
142 Bradford Dr Paris, KY	2.0	1.0	1023	$925	$0.90	21d	1	1.41mi
151 Bradford Dr Paris, KY	2.0	1.5	1023	$895	$0.87	21d	1	1.43mi

Listing history 22 events

1. 2026-06-18
   days on market $115,000 Active 150 DOM
2. 2026-06-17
   days on market $115,000 Active 149 DOM
3. 2026-06-16
   days on market $115,000 Active 148 DOM
4. 2026-06-15
   days on market $115,000 Active 147 DOM
5. 2026-06-14
   days on market $115,000 Active 145 DOM
6. 2026-06-13
   days on market $115,000 Active 144 DOM
7. 2026-06-10
   days on market $115,000 Active 142 DOM
8. 2026-06-09
   days on market $115,000 Active 141 DOM
9. 2026-06-08
   days on market $115,000 Active 140 DOM
10. 2026-06-07
    days on market $115,000 Active 139 DOM
11. 2026-06-03
    days on market $115,000 Active 135 DOM
12. 2026-06-02
    days on market $115,000 Active 134 DOM
13. 2026-06-01
    days on market $115,000 Active 133 DOM
14. 2026-05-31
    days on market $115,000 Active 132 DOM
15. 2026-05-31
    days on market $115,000 Active 131 DOM
16. 2026-01-19
    listed $115,000 Active 216-char remark

    Show marketing remark (216 chars)

    Attention investors!!! 3 Bed / 2 Bath with a large kitchen and nice backyard. Property is close to downtown. This home would make a great addition to your investment portfolio, currently rented for $1000.00 per month

17. 2025-08-15
    historical
18. 2025-03-17
    listed $145,000 Active
19. 2023-11-13
    soldstatus $90,000
20. 2021-08-03
    soldstatus $67,500
21. 2017-10-02
    soldstatus $25,000
22. 1990-04-01
    soldstatus $25,000

ⓘ 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: $295 · $25/mo
• Projected year-2 tax: $989 · $82/mo
• Expected delta: +$694/yr (+$58/mo · 235.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,470
• − Mortgage interest: −$6,442
• − Property taxes: −$295
• − Insurance: −$575
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$3,345
• Taxable loss: −$182
• Est. tax savings @ 24.0%: +$44
• After-tax cash flow: $1,788/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: Paris Independent
• NCES district ID: 2104710
• Math proficiency: 13% ▼ -17.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $34,822
• Composite: 17.23/100
• National rank: #9096
• State rank: #159 of 165 in KY

Livability — Paris

• Score: 67/100
• State rank: #218
• US rank: #10589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, KY
• County: Bourbon County · 18,361 people
• City population: 18,361
• Metro: Lexington-Fayette, KY
• Population (ZIP): 18,361
• Household income: $63,333
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 509.0

Population outlook (Bourbon County) Hauer SSP2

• Today (2025): 20,485 people
• By 2030: 20,559 · +0.4%
• By 2040: 20,491 · +0.0%
• By 2050: 20,065 · -2.1%
• By 2075: 19,173 · -6.4%
• By 2100: 16,646 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Slovak 2% Serbian 2% Iranian 2%
• Foreign-born: 4% · Canada, Dominican Republic
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Bourbon

• 2024 margin: Solid R (+33.5) · D 32.4% · R 65.9% · Other 1.7%
• 2008→2024 swing: -16.3pp toward R · 2008: -17.2pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.0 2016: R+31.6 2012: R+20.4 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.90%
• Current HPI: 241.9393
• Rent YoY: —
• 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

+360.0% since first listed

7 events — show timeline

• 2026-01-19 Listed $115,000 ImagineMLS
• 2025-08-15 Listing Removed — ImagineMLS
• 2025-03-17 Listed $145,000 ImagineMLS
• 2023-11-13 Sold (Public Records) $90,000 Public Records
• 2021-08-03 Sold (Public Records) $67,500 Public Records
• 2017-10-02 Sold (Public Records) $25,000 Public Records
• 1990-04-01 Sold (Public Records) $25,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $295 · -2.6% YoY. Source: county tax records.