122 Reynolds Ave · Cynthiana, KY 41031

$239,900

2 bd · 1.0 ba · 1,664 sqft · Other · 26 Days on market

7,841 sqft lot

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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 +19.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Wow - this beautiful home is gorgeously updated with new siding, a new roof and gutters (2020). You won't want to miss this gem. Step inside the cozy living room with a wood-burning fireplace and lots of space to relax or enjoy guests. Home has a separate, formal dining room which is wonderful for entertaining. Kitchen has tons of counter and cabinet space. Home has a 1st floor bedroom and a full bathroom (renovated with new tile and tub in 2018). Upstairs you will find an additional, oversized bedroom with stunning hardwood floors. Home sits on a full basement that is partially finished with a big family room (could easily be 3rd bedroom (no window). Unfinished basement space allows for tons of extra storage and even has some cabinetry. Step outside onto the spacious and freshly-stained deck to enjoy the hot tub and view of the pool. Yard has a mature tree for shade and added privacy. Property has a 1-car detached garage and a storage shed. Don't miss this home - call today for a private showing.

Key facts

• 7,841 sq ft lot
• Garage
• Listed 26 days

Property features AI

Finance

• Other: Lot size approximately 0.18 acres (7,841 sq ft)

Exterior

• Parking: Detached garage; Driveway; Off-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: House; Two levels
• Construction: Vinyl siding; Block foundation; Dimensional style shingle roof; Building area total approximately 1,665 sq ft
• Exterior features: Wood fencing; Shed(s) on property; Public water; Not on waterfront

Interior

• Kitchen: Dishwasher; Disposal; Oven/Range; Refrigerator
• Bedrooms: 2 total rooms
• Flooring: Carpet; Hardwood; Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Electric cooling
• Interior features: Partially finished basement with sump pump; Finished area below grade (approximately 315 sq ft); Fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $240k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/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 $220k (8.3% below list).
• Recommended offer: $220k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.5% in Cynthiana — 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 (#113 in KY, #4,911 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Harrison County (town): math 21% / reading 32% proficiency, ranked #133 of 165 in KY (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eastside Elementary School (math 22% / reading 27%, grade F, #489 of 676 statewide, top 76%, 411 students, 61% FRL); Harrison County Middle School (math 19% / reading 35%, grade F, #172 of 217 statewide, top 80%, 607 students, 58% FRL); Harrison County High School (math 29% / reading 41%, grade F, #74 of 254 statewide, top 29%, 865 students, 46% FRL).
• Market conditions: 95 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 69 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Harrison County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $155k; list at $240k implies a 55% gain — meaningful room to come down on a strong offer.

Recommended offer $220,000 (8.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.92% ✗
• Cap rate: 7.56%
• Cash-on-cash: 4.51%
• DSCR: 1.20
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.18×
• Total profit: $146,670
• Equity at exit: $216,121

10-year hold

• IRR: 24.0%
• Equity multiple: 7.24×
• Total profit: $419,123
• Equity at exit: $466,073

Cash invested: $67,172 (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 41031

• Home prices YoY: 4.4%
• Active inventory: 95
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $253

Break-even live

Break-even rent $1,880

Max offer price $239,900

Occupancy floor 84%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Heron Pl Cynthiana, KY	2.0	2.0	1296	$2,200	$1.70	14d	1	1.38mi

Listing history 17 events

1. 2026-06-07
   status $239,900 Pending 26 DOM
2. 2026-06-03
   days on market $239,900 Contingent 26 DOM
3. 2026-06-02
   days on market $239,900 Contingent 25 DOM
4. 2026-06-01
   days on market $239,900 Contingent 24 DOM
5. 2026-05-31
   days on market $239,900 Contingent 23 DOM
6. 2026-05-31
   days on market $239,900 Contingent 22 DOM
7. 2026-05-10
   historical Contingent
8. 2026-05-08
   listed $239,900 Active
9. 2021-08-30
   soldstatus $154,900 Closed 1012-char remark

   Show marketing remark (1012 chars)

   Wow - this beautiful home is gorgeously updated with new siding, a new roof and gutters (2020). You won't want to miss this gem. Step inside the cozy living room with a wood-burning fireplace and lots of space to relax or enjoy guests. Home has a separate, formal dining room which is wonderful for entertaining. Kitchen has tons of counter and cabinet space. Home has a 1st floor bedroom and a full bathroom (renovated with new tile and tub in 2018). Upstairs you will find an additional, oversized bedroom with stunning hardwood floors. Home sits on a full basement that is partially finished with a big family room (could easily be 3rd bedroom (no window). Unfinished basement space allows for tons of extra storage and even has some cabinetry. Step outside onto the spacious and freshly-stained deck to enjoy the hot tub and view of the pool. Yard has a mature tree for shade and added privacy. Property has a 1-car detached garage and a storage shed. Don't miss this home - call today for a private showing.

10. 2021-08-30
    soldstatus $154,900

    Show marketing remark (1012 chars)

    Wow - this beautiful home is gorgeously updated with new siding, a new roof and gutters (2020). You won't want to miss this gem. Step inside the cozy living room with a wood-burning fireplace and lots of space to relax or enjoy guests. Home has a separate, formal dining room which is wonderful for entertaining. Kitchen has tons of counter and cabinet space. Home has a 1st floor bedroom and a full bathroom (renovated with new tile and tub in 2018). Upstairs you will find an additional, oversized bedroom with stunning hardwood floors. Home sits on a full basement that is partially finished with a big family room (could easily be 3rd bedroom (no window). Unfinished basement space allows for tons of extra storage and even has some cabinetry. Step outside onto the spacious and freshly-stained deck to enjoy the hot tub and view of the pool. Yard has a mature tree for shade and added privacy. Property has a 1-car detached garage and a storage shed. Don't miss this home - call today for a private showing.

11. 2021-07-19
    status Pending 1012-char remark

    Show marketing remark (1012 chars)

    Wow - this beautiful home is gorgeously updated with new siding, a new roof and gutters (2020). You won't want to miss this gem. Step inside the cozy living room with a wood-burning fireplace and lots of space to relax or enjoy guests. Home has a separate, formal dining room which is wonderful for entertaining. Kitchen has tons of counter and cabinet space. Home has a 1st floor bedroom and a full bathroom (renovated with new tile and tub in 2018). Upstairs you will find an additional, oversized bedroom with stunning hardwood floors. Home sits on a full basement that is partially finished with a big family room (could easily be 3rd bedroom (no window). Unfinished basement space allows for tons of extra storage and even has some cabinetry. Step outside onto the spacious and freshly-stained deck to enjoy the hot tub and view of the pool. Yard has a mature tree for shade and added privacy. Property has a 1-car detached garage and a storage shed. Don't miss this home - call today for a private showing.

12. 2021-07-15
    listed $154,900 Active 1012-char remark

    Show marketing remark (1012 chars)

    Wow - this beautiful home is gorgeously updated with new siding, a new roof and gutters (2020). You won't want to miss this gem. Step inside the cozy living room with a wood-burning fireplace and lots of space to relax or enjoy guests. Home has a separate, formal dining room which is wonderful for entertaining. Kitchen has tons of counter and cabinet space. Home has a 1st floor bedroom and a full bathroom (renovated with new tile and tub in 2018). Upstairs you will find an additional, oversized bedroom with stunning hardwood floors. Home sits on a full basement that is partially finished with a big family room (could easily be 3rd bedroom (no window). Unfinished basement space allows for tons of extra storage and even has some cabinetry. Step outside onto the spacious and freshly-stained deck to enjoy the hot tub and view of the pool. Yard has a mature tree for shade and added privacy. Property has a 1-car detached garage and a storage shed. Don't miss this home - call today for a private showing.

13. 2018-08-07
    soldstatus $135,000
14. 2007-09-06
    historical
15. 2006-11-06
    listed $130,000
16. 2003-08-05
    soldstatus $110,000
17. 1996-05-23
    soldstatus $71,500

ⓘ 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: $1,529 · $127/mo
• Projected year-2 tax: $2,063 · $172/mo
• Expected delta: +$534/yr (+$45/mo · 34.9%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,400
• − Mortgage interest: −$13,438
• − Property taxes: −$1,529
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$6,979
• Taxable loss: −$969
• Est. tax savings @ 24.0%: +$233
• After-tax cash flow: $3,264/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: Harrison County
• NCES district ID: 2102580
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 32% ▼ -19.00%
• Median HH income: $39,744
• Composite: 22.28/100
• National rank: #8138
• State rank: #133 of 165 in KY

Livability — Cynthiana

• Score: 74/100
• State rank: #113
• US rank: #4911

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cynthiana, KY
• Population (ZIP): 16,748

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 18,605 people
• By 2030: 18,361 · -1.3%
• By 2040: 17,685 · -4.9%
• By 2050: 16,845 · -9.5%
• By 2075: 14,882 · -20.0%
• By 2100: 12,314 · -33.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+48.5) · D 25.1% · R 73.6% · Other 1.3%
• 2008→2024 swing: -27.4pp toward R · 2008: -21.1pp · 2024: -48.5pp
• All cycles: 2024: R+48.5 2020: R+44.4 2016: R+43.8 2012: R+29.1 2008: R+21.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.31%
• Current HPI: 339.482
• Rent YoY: —
• Metro: —
• 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

+235.5% since first listed

11 events — show timeline

• 2026-05-10 Contingent — ImagineMLS
• 2026-05-08 Listed $239,900 ImagineMLS
• 2021-08-30 Sold (Public Records) $154,900 Public Records
• 2021-08-30 Sold (MLS) $154,900 ImagineMLS
• 2021-07-19 Pending — ImagineMLS
• 2021-07-15 Listed $154,900 ImagineMLS
• 2018-08-07 Sold (Public Records) $135,000 Public Records
• 2007-09-06 Listing Removed — ImagineMLS
• 2006-11-06 Listed $130,000 ImagineMLS
• 2003-08-05 Sold (Public Records) $110,000 Public Records
• 1996-05-23 Sold (Public Records) $71,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,529 · -0.6% YoY. Source: county tax records.