923 Whitney Ave · Lexington-Fayette, KY 40508

$165,000

4 bd · 1.0 ba · 1,157 sqft · SingleFamily public records · 41 Days on market

Built 1948 7,501 sqft lot Est $174k · at est. ↓ 6% since listing

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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 +21.9/30.0
• ARV discount +9.7/15.0
• DSCR +7.0/10.0
• Rent growth +5.0/5.0
• 1% rule +4.5/10.0
• Schools +3.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss the opportunity to own this income producing, recent remodel! Four beds, beautiful new Kitchen, stainless appliances, all new vinyl flooring throughout, large backyard and off street parking! Conveniently located close to downtown Lexington!

Key facts

• Recent remodel
• New kitchen
• Off street parking

Tags

• RECENT REMODEL
• NEW KITCHEN
• STAINLESS APPLIANCES
• NEW VINYL FLOORING
• LARGE BACKYARD
• OFF STREET PARKING

Property features AI

Finance

• Other: Parcel number 157133600

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-story house; Faces unspecified direction
• Construction: Brick veneer exterior; Dimensional style shingle roof; Block foundation; Built area approximately 1,302
• Exterior features: Few trees; Partial chain link fencing; Neighborhood and trees/woods view

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Total rooms: 7
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Screens on windows; Crawl space basement; No fireplace
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $261 ($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 $156k (5.4% below list).
• Recommended offer: $156k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.8% in Lexington-Fayette — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fayette County (urban): math 35% / reading 45% proficiency, ranked #27 of 165 in KY (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northern Elementary School (math 12% / reading 17%, grade F, #627 of 676 statewide, top 93%, 439 students, 71% FRL); Bryan Station Middle School (math 23% / reading 42%, grade F, #116 of 217 statewide, top 55%, 815 students, 56% FRL); Bryan Station High School (math 18% / reading 25%, grade F, #209 of 254 statewide, top 82%, 1,893 students, 59% FRL) — zoned schools average 62% FRL vs 44% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-17 pts) — the specific schools serving this property underperform the Fayette County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+11.8%/yr); 82 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,036 units permitted in Fayette County in 2024 (542 in 5+ unit buildings).
• At $1,560/mo this rent would consume 64% of the median local household income ($29k/yr) (locally 2644% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Fayette County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,008 (5.4% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.95% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $173,550
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Florence Ave	0.24mi	3/1.0 (-1)	1,146 (-1%)	2mo	$114,000	$99	81
722 Whitney Ave	0.28mi	3/1.0 (-1)	1,152 (-0%)	9mo	$183,780	$160	74
450 Ash St	0.15mi	3/1.5 (-1)	1,253 (+8%)	1mo	$172,000	$137	72
915 Whitney Ave	0.01mi	3/1.0 (-1)	1,030 (-11%)	9mo	$115,000	$112	69
837 Whitney Ave	0.11mi	3/1.0 (-1)	1,092 (-6%)	14mo	$70,000	$64	69
745 Breathitt Ave	0.23mi	4/2.0	1,200 (+4%)	22mo	$197,500	$165	61
448 Price Rd	0.44mi	3/1.0 (-1)	1,064 (-8%)	4mo	$200,000	$188	57
111 Thompson Rd	0.64mi	4/2.0	1,231 (+6%)	12mo	$261,000	$212	46
124 Thompson Rd	0.67mi	3/1.0 (-1)	1,086 (-6%)	15mo	$162,500	$150	41
446 Lindberg	0.30mi	3/1.0 (-1)	988 (-15%)	21mo	$110,800	$112	39
434 Jefferson St	0.69mi	3/1.0 (-1)	1,044 (-10%)	23mo	$215,000	$206	27

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,937
• Equity at exit: $24,602

10-year hold

• IRR: 12.9%
• Equity multiple: 2.23×
• Total profit: $56,934
• Equity at exit: $14,266

Cash invested: $46,200 (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 40508

• Rents YoY: 11.8%
• Active inventory: 82
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,560 high
• Mortgage (P&I): −$865
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $261

Break-even live

Break-even rent $1,229

Max offer price $165,000

Occupancy floor 78%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Roosevelt Blvd Lexington, KY	3.0	1.0	960	$1,495	$1.56	14d	1	0.30mi
723 Charles Ave Lexington, KY	3.0	1.0	992	$1,300	$1.31	14d	1	0.30mi
330 Newtown Pike Lexington, KY	1.0–3.0	1.0–2.0	976	$1,377	$1.41	23d	1	0.43mi
301 Thompson Rd Lexington, KY	3.0	1.0	1008	$1,450	$1.44	14d	1	0.72mi
120 Clyde St Lexington, KY	3.0	1.0	1242	$1,450	$1.17	23d	1	0.74mi
832 W High St Unit 1 Lexington, KY	3.0	1.5	900	$1,400	$1.56	23d	1	0.87mi
444 N Broadway Lexington, KY	3.0	1.0	1160	$1,595	$1.38	23d	1	0.98mi
222 W Sixth St Lexington, KY	3.0	1.5	1050	$1,150	$1.10	23d	1	1.12mi
275 S Limestone #135 Lexington, KY	3.0	2.0	1142	$2,950	$2.58	14d	1	1.35mi
115 W Loudon Ave Unit L97 Lexington, KY	3.0	2.0	960	$980	$1.02	23d	1	1.36mi
627 N Martin Luther King Blvd Lexington, KY	4.0	2.0	1440	$1,400	$0.97	23d	1	1.39mi
211 E Sixth St Lexington, KY	3.0	1.0	1400	$1,500	$1.07	23d	1	1.43mi

Listing history 24 events

1. 2026-06-18
   days on market $165,000 Active 41 DOM
2. 2026-06-17
   days on market $165,000 Active 40 DOM
3. 2026-06-16
   days on market $165,000 Active 39 DOM
4. 2026-06-15
   days on market $165,000 Active 38 DOM
5. 2026-06-14
   days on market $165,000 Active 36 DOM
6. 2026-06-13
   days on market $165,000 Active 35 DOM
7. 2026-06-10
   days on market $165,000 Active 33 DOM
8. 2026-06-09
   days on market $165,000 Active 32 DOM
9. 2026-06-08
   days on market $165,000 Active 31 DOM
10. 2026-06-07
    days on market $165,000 Active 30 DOM
11. 2026-06-05
    days on market $165,000 Active 27 DOM
12. 2026-06-03
    days on market $165,000 Active 26 DOM
13. 2026-06-02
    days on market $165,000 Active 25 DOM
14. 2026-06-01
    days on market $165,000 Active 24 DOM
15. 2026-05-31
    days on market $165,000 Active 23 DOM
16. 2026-05-04
    listed $165,000 Active
17. 2025-12-17
    historical
18. 2025-11-15
    status Active
19. 2025-11-14
    historical
20. 2025-07-28
    price $175,000
21. 2025-06-03
    listed $185,000 Active
22. 2024-11-17
    historical
23. 2024-05-26
    price $135,000
24. 2024-05-17
    listed $175,000 Active

ⓘ 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: $447 · $37/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$972/yr (+$81/mo · 217.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,721
• − Mortgage interest: −$9,243
• − Property taxes: −$447
• − Insurance: −$825
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$4,800
• Taxable income: $411
• Est. tax owed @ 24.0%: −$99
• After-tax cash flow: $3,036/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: Fayette County
• NCES district ID: 2101860
• Math proficiency: 35% ▼ -16.00%
• Reading proficiency: 45% ▼ -13.00%
• Median HH income: $49,245
• Composite: 34.38/100
• National rank: #5211
• State rank: #27 of 165 in KY

Livability — Lexington-Fayette

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lexington-Fayette, KY
• County: Fayette County · 317,143 people
• City population: 321,882
• Metro: Lexington-Fayette, KY
• Population (ZIP): 23,756
• Household income: $29,440
• Rent vs Own: 70.5% rent · 29.5% own
• Severe rent burden: 2644.0

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 363,454 people
• By 2030: 388,270 · +6.8%
• By 2040: 438,688 · +20.7%
• By 2050: 490,667 · +35.0%
• By 2075: 625,394 · +72.1%
• By 2100: 721,354 · +98.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 22% Hispanic / Latino 9% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 2% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Chinese 1% Other Indo-European 1%

Political lean MEDSL · Fayette

• 2024 margin: D (+18.1) · D 58.0% · R 39.9% · Other 2.1%
• 2008→2024 swing: +13.3pp toward D · 2008: 4.8pp · 2024: 18.1pp
• All cycles: 2024: D+18.1 2020: D+20.8 2016: D+9.5 2012: D+1.0 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.04%
• Current HPI: 204.3994
• Rent YoY: ▲ 11.83%
• 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

-5.7% since first listed

9 events — show timeline

• 2026-05-04 Listed $165,000 ImagineMLS
• 2025-12-17 Listing Removed — ImagineMLS
• 2025-11-15 Relisted — ImagineMLS
• 2025-11-14 Listing Removed — ImagineMLS
• 2025-07-28 Price Changed $175,000 ImagineMLS
• 2025-06-03 Listed $185,000 ImagineMLS
• 2024-11-17 Listing Removed — ImagineMLS
• 2024-05-26 Price Changed $135,000 ImagineMLS
• 2024-05-17 Listed $175,000 ImagineMLS

Property tax history

+1.8%/yr

Latest (2015): $447 · +1.8% YoY. Source: county tax records.