720 Kirby Ln · London, KY 40741

$59,764

2 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 80 Days on market

Built 1974 0.40 ac lot $46/sqft · 70% below area

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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
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors.This house is located in city limits and has good rental potential.Very close to St Joseph of hospital. It will need a complete renovation.

Key facts

• Complete renovation
• 0.4 acre lot
• Built 1974

Tags

• COMPLETE RENOVATION
• LOCATED IN CITY LIMITS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($997 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 2.2% in London — 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 68/100 on livability (#202 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools D+, employment D+, amenities F.
• Laurel County (town): math 51% / reading 56% proficiency, ranked #8 of 165 in KY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 249 active listings in the ZIP; 16 units permitted in Laurel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $413 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $56,178 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.67% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.09%
• DSCR: 2.25
• GRM: 5.0

CMA / ARV

• ARV (median comp): $207,734
• List price: $59,764
• Delta: -71.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
256 Falls St	0.34mi	2/1.0	1,300 (+0%)	16mo	$64,005	$49	71
284 Parker Rd	0.30mi	3/1.0 (+1)	1,120 (-14%)	5mo	$175,000	$156	54
513 Sulfridge Dr	0.70mi	3/2.0 (+1)	1,152 (-11%)	9mo	$217,000	$188	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 1.91×
• Total profit: $15,272
• Equity at exit: $8,911

10-year hold

• IRR: 30.3%
• Equity multiple: 3.72×
• Total profit: $45,446
• Equity at exit: $5,167

Cash invested: $16,734 (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 40741

• Home prices YoY: -9.0%
• Active inventory: 249
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $997 medium
• Mortgage (P&I): −$313
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $392

Break-even live

Break-even rent $501

Max offer price $59,764

Occupancy floor 56%

Sensitivity live

Price	-10% $426	-5% $409	+0% $392	+5% $375	+10% $358
Rent	-10% $313	-5% $352	+0% $392	+5% $431	+10% $471
Rate	-1.0pp $422	-0.5pp $407	base $392	+0.5pp $376	+1.0pp $361

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: $14,941
• Closing costs: $1,793
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $59,764 Active 80 DOM
2. 2026-06-18
   days on market $59,764 Active 78 DOM
3. 2026-06-17
   pricedays on market $59,764 Active 77 DOM
4. 2026-06-16
   days on market $62,910 Active 76 DOM
5. 2026-06-15
   days on market $62,910 Active 75 DOM
6. 2026-06-13
   days on market $62,910 Active 73 DOM
7. 2026-06-12
   days on market $62,910 Active 72 DOM
8. 2026-06-09
   days on market $62,910 Active 69 DOM
9. 2026-06-08
   days on market $62,910 Active 68 DOM
10. 2026-06-07
    days on market $62,910 Active 67 DOM
11. 2026-06-04
    days on market $62,910 Active 64 DOM
12. 2026-06-02
    days on market $62,910 Active 63 DOM
13. 2026-06-01
    days on market $62,910 Active 62 DOM
14. 2026-05-31
    days on market $62,910 Active 61 DOM
15. 2026-05-31
    days on market $62,910 Active 60 DOM
16. 2026-05-08
    price $62,910 159-char remark

    Show marketing remark (159 chars)

    Attention investors.This house is located in city limits and has good rental potential.Very close to St Joseph of hospital. It will need a complete renovation.

17. 2026-03-30
    listed $69,900 Active 159-char remark

    Show marketing remark (159 chars)

    Attention investors.This house is located in city limits and has good rental potential.Very close to St Joseph of hospital. It will need a complete renovation.

18. 2009-06-04
    soldstatus $68,600 335-char remark

    Show marketing remark (335 chars)

    A True Treasure! This ranch features the character and charm you've been looking for in your next home! Fireplace, formal dining room, fenced in yard, storage building, screened in porch, heated above ground pool with large deck area, and an unfinished walk-out basement. See for yourself! ***1 Year Home Warranty Included for Buyer***

19. 2009-06-04
    soldstatus $68,600

    Show marketing remark (335 chars)

    A True Treasure! This ranch features the character and charm you've been looking for in your next home! Fireplace, formal dining room, fenced in yard, storage building, screened in porch, heated above ground pool with large deck area, and an unfinished walk-out basement. See for yourself! ***1 Year Home Warranty Included for Buyer***

20. 2008-11-19
    listed $74,900 335-char remark

    Show marketing remark (335 chars)

    A True Treasure! This ranch features the character and charm you've been looking for in your next home! Fireplace, formal dining room, fenced in yard, storage building, screened in porch, heated above ground pool with large deck area, and an unfinished walk-out basement. See for yourself! ***1 Year Home Warranty Included for Buyer***

21. 1998-02-01
    soldstatus $52,000
22. 1991-09-01
    soldstatus $16,000

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $689 · $57/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 6 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,962
• − Mortgage interest: −$3,348
• − Property taxes: −$689
• − Insurance: −$299
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$1,739
• Taxable income: $3,974
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $3,747/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: Laurel County
• NCES district ID: 2103210
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $36,577
• Composite: 44.39/100
• National rank: #2814
• State rank: #8 of 165 in KY

Livability — London

• Score: 68/100
• State rank: #202
• US rank: #10028

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: London, KY
• Population (ZIP): 23,303

Population outlook (Laurel County) Hauer SSP2

• Today (2025): 62,602 people
• By 2030: 63,310 · +1.1%
• By 2040: 63,706 · +1.8%
• By 2050: 62,705 · +0.2%
• By 2075: 58,574 · -6.4%
• By 2100: 50,888 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Laurel

• 2024 margin: Solid R (+69.9) · D 14.5% · R 84.3% · Other 1.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -58.0pp · 2024: -69.9pp
• All cycles: 2024: R+69.9 2020: R+66.7 2016: R+69.1 2012: R+63.6 2008: R+58.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.45%
• Current HPI: 247.1396
• 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

+293.2% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $62,910 ImagineMLS
• 2026-03-30 Listed $69,900 ImagineMLS
• 2009-06-04 Sold (Public Records) $68,600 Public Records
• 2009-06-04 Sold (MLS) $68,600 ImagineMLS
• 2008-11-19 Listed $74,900 ImagineMLS
• 1998-02-01 Sold (Public Records) $52,000 Public Records
• 1991-09-01 Sold (Public Records) $16,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $689 · +0.9% YoY. Source: county tax records.