132 Morris Rd · Georgetown, KY 40370

$125,000

2 bd · 1.0 ba · 784 sqft · Other public records · 1 Days on market

Built 1962 1.02 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 1.02 acre lot
• Built 1962

Property features AI

Finance

• Other: Lot about 1.02 acres

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Septic tank; Electricity connected
• Home design: One level
• Construction: Masonite exterior; Block foundation; Shingle roof; Built area approximately 840
• Exterior features: Shed(s); Few trees and many trees on the lot; Farm view

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Total rooms: 5
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating with forced air; Electric cooling
• Interior features: Eat-in kitchen; Ceiling fan(s); Full unfinished walk-out basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 14.3% vs local median 3.5% in Georgetown — 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 78/100 on livability (#75 in KY, #2,338 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Elementary School (math 39% / reading 37%, grade F, #242 of 676 statewide, top 37%, 459 students, 34% FRL); Royal Spring Middle School (math 34% / reading 54%, grade D, #40 of 217 statewide, top 19%, 726 students, 44% FRL); Scott County High School (math 34% / reading 37%, grade F, #73 of 254 statewide, top 28%, 1,197 students, 40% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 24 active listings in the ZIP; 546 units permitted in Scott County in 2024 (98 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.64% ✓
• Cap rate: 14.33%
• Cash-on-cash: 28.69%
• DSCR: 2.28
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.0%
• Equity multiple: 1.94×
• Total profit: $33,020
• Equity at exit: $18,638

10-year hold

• IRR: 30.9%
• Equity multiple: 3.78×
• Total profit: $97,308
• Equity at exit: $10,808

Cash invested: $35,000 (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 40370

• Home prices YoY: -17.4%
• Active inventory: 24
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,055 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $837

Break-even live

Break-even rent $996

Max offer price $125,000

Occupancy floor 54%

Sensitivity live

Price	-10% $907	-5% $872	+0% $837	+5% $801	+10% $766
Rent	-10% $674	-5% $756	+0% $837	+5% $918	+10% $999
Rate	-1.0pp $900	-0.5pp $869	base $837	+0.5pp $804	+1.0pp $771

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-20
   status Pending
2. 2026-05-20
   listed $125,000 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: $951 · $79/mo
• Projected year-2 tax: $1,075 · $90/mo
• Expected delta: +$124/yr (+$10/mo · 13.0%)

ⓘ 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 100% 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: $24,662
• − Mortgage interest: −$7,002
• − Property taxes: −$951
• − Insurance: −$625
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$3,636
• Taxable income: $8,502
• Est. tax owed @ 24.0%: −$2,040
• After-tax cash flow: $8,000/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: Scott County
• NCES district ID: 2105260
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 44% ▼ -16.00%
• Median HH income: $61,324
• Composite: 33.87/100
• National rank: #5348
• State rank: #31 of 165 in KY

Livability — Georgetown

• Score: 78/100
• State rank: #75
• US rank: #2338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 53,406
• Population (ZIP): 2,662

Population outlook (Scott County) Hauer SSP2

• Today (2025): 63,814 people
• By 2030: 69,637 · +9.1%
• By 2040: 81,315 · +27.4%
• By 2050: 92,677 · +45.2%
• By 2075: 118,956 · +86.4%
• By 2100: 136,792 · +114.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Scott

• 2024 margin: Strong R (+27.7) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -7.1pp toward R · 2008: -20.6pp · 2024: -27.7pp
• All cycles: 2024: R+27.7 2020: R+24.9 2016: R+30.4 2012: R+25.0 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.03%
• Current HPI: 180.1927
• 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

2 events — show timeline

• 2026-05-20 Pending — ImagineMLS
• 2026-05-20 Listed $125,000 ImagineMLS

Property tax history

+5.2%/yr

Latest (2025): $951 · +1.3% YoY. Source: county tax records.