110A Melanie Ln · Elizabethtown, KY 42701

$175,000

2 bd · 2.0 ba · 1,200 sqft · MultiFamily · 37 Days on market

Built 1991 Good condition 3,049 sqft lot Est $175k · at est. ↓ 26% since listing

---

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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.6/15.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +3.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Charming 2-Bed, 2-Bath Townhome in Prime Elizabethtown Location | 110 Melanie Ln #A – Available Now! Welcome to your next home in the heart of Elizabethtown! This beautifully well-maintained 2-bedroom, 2-bathroom townhome with 1,200 sq ft of living space offers comfort, convenience, and value—all tucked away in a quiet, friendly neighborhood just minutes from everything you need. Perfect for all types of home buyers, this move-in ready property is located within the highly desirable Elizabethtown Independent City School District. Features You’ll Love: Spacious Layout: Enjoy a bright and airy living room with fireplace perfect for relaxing or entertaining guests. Fully fr

Key facts

• 3,049 sq ft lot
• Garage
• Built 1991

Property features AI

Finance

• Other: Subdivision: Westport Villa; Directions: From Old Cardinal Road, turn onto Westport Road then left onto Melanie; property is located in the cul-de-sac.

Exterior

• Parking: Attached garage (1 space)
• Security: Smoke detectors
• Utilities: Public sewer
• Home design: Residential duplex; 2 stories
• Construction: Shingle roof; Unfinished basement
• Exterior features: Deck; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Microwave; Range; Oven; Refrigerator; Electric water heater
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Heat pump and electric heating; Central air; Ceiling fans
• Interior features: Built-in bookcases; Fireplace (1)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.4% in Elizabethtown — 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 72/100 on livability (#131 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D, amenities F, commute F.
• Hardin County (suburban): math 30% / reading 43% proficiency, ranked #47 of 165 in KY (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 539 active listings in the ZIP; 946 units permitted in Hardin County in 2024 (464 in 5+ unit buildings).
• This rent runs 39% of the median local income ($70k/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 $5k of value loss. Plan a longer hold.
• Hardin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.66%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $175,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110A Melanie Ln	0.00mi	2/2.0	1,200 (0%)	1mo	$175,000	$146	99

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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.16×
• Total profit: $7,928
• Equity at exit: $26,093

10-year hold

• IRR: 14.0%
• Equity multiple: 2.14×
• Total profit: $55,775
• Equity at exit: $15,131

Cash invested: $49,000 (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 42701

• Home prices YoY: -29.8%
• Rents YoY: 3.3%
• Active inventory: 539
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,237 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $558

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,238
Total (2 units)			$2,237

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-08
   historical $1,250
2. 2026-05-03
   status Pending
3. 2026-04-09
   price $1,250
4. 2026-03-26
   listed $175,000 Active
5. 2026-03-17
   price $175,000
6. 2025-12-26
   price $177,000
7. 2025-12-23
   listed $1,300
8. 2025-12-15
   price $179,000
9. 2025-10-06
   price $184,000
10. 2025-08-20
    price $186,000
11. 2025-07-18
    historical $1,300
12. 2025-06-17
    price $1,300
13. 2025-05-14
    price $1,400
14. 2025-05-01
    listed $1,700

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $26,844
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$5,091
• Taxable income: $4,155
• Est. tax owed @ 24.0%: −$997
• After-tax cash flow: $5,697/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This charming 2-bedroom, 2-bathroom townhome is in good condition with a good condition score of 75. It has a good kitchen, bathrooms, and exterior. The home is move-in ready and has a good curb appeal.

Value-add opportunities

• Resale Paint the exterior siding — Painting the exterior siding can improve the curb appeal and make the home look more attractive to potential buyers.
• Both Replace the blinds with energy-efficient windows — Replacing the blinds with energy-efficient windows can improve the home's energy efficiency and reduce utility bills, which can be a significant value add for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Painting the exterior siding can improve the curb appeal and make the home look more attractive to potential buyers. ↑
• Both Replace the blinds with energy-efficient windows — Replacing the blinds with energy-efficient windows can improve the home's energy efficiency and reduce utility bills, which can be a significant value add for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hardin County
• NCES district ID: 2102490
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $50,728
• Composite: 31.61/100
• National rank: #5945
• State rank: #47 of 165 in KY

Livability — Elizabethtown

• Score: 72/100
• State rank: #131
• US rank: #6198

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elizabethtown, KY
• County: Hardin County · 77,611 people
• City population: 53,987
• Metro: Elizabethtown-Fort Knox, KY
• Population (ZIP): 53,987
• Household income: $69,619
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1663.0

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 105,573 people
• By 2030: 103,563 · -1.9%
• By 2040: 97,077 · -8.0%
• By 2050: 88,367 · -16.3%
• By 2075: 65,405 · -38.0%
• By 2100: 42,245 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Hardin

• 2024 margin: Strong R (+29.3) · D 34.5% · R 63.8% · Other 1.7%
• 2008→2024 swing: -8.7pp toward R · 2008: -20.6pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+24.0 2016: R+30.2 2012: R+20.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.94%
• Current HPI: 228.7091
• Rent YoY: ▲ 3.32%
• Metro: Elizabethtown-Fort Knox, 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

-26.5% since first listed

14 events — show timeline

• 2026-05-08 Rental Removed $1,250 RENTEC
• 2026-05-03 Pending — HKARMLS
• 2026-04-09 Price Changed $1,250 RENTEC
• 2026-03-26 Listed $175,000 HKARMLS
• 2026-03-17 Price Changed $175,000 HKARMLS
• 2025-12-26 Price Changed $177,000 HKARMLS
• 2025-12-23 Listed for Rent $1,300 RENTEC
• 2025-12-15 Price Changed $179,000 HKARMLS
• 2025-10-06 Price Changed $184,000 HKARMLS
• 2025-08-20 Price Changed $186,000 HKARMLS
• 2025-07-18 Rental Removed $1,300 RENTEC
• 2025-06-17 Price Changed $1,300 RENTEC
• 2025-05-14 Price Changed $1,400 RENTEC
• 2025-05-01 Listed for Rent $1,700 RENTEC