1703 New Orleans Ct · Lexington-Fayette, KY 40505

$289,900

3 bd · 1.0 ba · 1,752 sqft · SingleFamily public records · 23 Days on market

Built 1963 8,581 sqft lot Est $275k · 5% over

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Why this score? — see what drove the D- 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 +14.2/30.0
• ARV discount +5.1/15.0
• DSCR +4.3/10.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• 1% rule +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Reduction! Spacious split level home in the heart of Dixie Plantation. This home has 3 bedrooms, 1 bathroom, hardwood flooring, formal dining room, oversized 2 car detached garage, large level backyard and a stones throw from Dixie Elementary. The finished walk out basement is complete with a wood burning insert and separate storage and laundry rooms. There are several updates to mention; the windows and doors were replaced 2012-2013, Vinyl siding replaced 2011, water heater was replaced 4 years ago, and the HVAC system per the owner is 2 to 3 years old. Home being sold As-Is inspections welcome. Both sheds in the back yard convey. Seller is offering $3,000 credit for painting.

Key facts

• Hardwood flooring
• Walk-out access
• Private cul de sac

Tags

• PRIVATE CUL DE SAC
• UPDATED KITCHEN
• FINISHED BASEMENT
• WALK-OUT ACCESS
• HARDWOOD FLOORING
• LUXURY VINYL PLANK FLOORING

Property features AI

Exterior

• Parking: Detached garage that faces the front; Property has a garage
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: House; Multi/split levels; Built-up living area listed (total building area available)
• Construction: Brick veneer and vinyl siding exterior; Shingle roof; Slab foundation
• Exterior features: Few trees on the lot; Chain link fencing

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: Total rooms: 9 (includes bedrooms and living spaces)
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Electric cooling
• Interior features: Entrance foyer; Ceiling fans; Finished basement space (below-grade area finished); Crawl space
• Laundry & utility: Washer hookup on lower level; Electric dryer hookup on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $45 ($546/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 $227k (21.6% below list).
• Recommended offer: $227k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 D — 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: Dixie Elementary Magnet School (math 29% / reading 43%, grade F, #287 of 676 statewide, top 43%, 542 students, 51% FRL); Crawford Middle School (math 15% / reading 31%, grade F, #197 of 217 statewide, top 92%, 751 students, 68% FRL); Frederick Douglass High School (math 36% / reading 42%, grade F, #51 of 254 statewide, top 21%, 1,667 students, 43% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 68 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,036 units permitted in Fayette County in 2024 (542 in 5+ unit buildings).
• At $2,274/mo this rent would consume 47% of the median local household income ($58k/yr) (locally 1232% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y 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 $160k; list at $290k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $227,371 (21.6% below list)

Questions for the listing agent

1. Built in 1963 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $275,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1708 Biloxi Ct	0.09mi	4/2.0 (+1)	1,733 (-1%)	7mo	$295,000	$170	79
1613 Fort Sumter Dr	0.39mi	3/2.0	1,740 (-1%)	3mo	$300,500	$173	74
1901 Greenleaf Dr	0.46mi	3/1.0	1,822 (+4%)	5mo	$245,000	$134	68
1601 Athens Ct	0.38mi	3/1.5	1,859 (+6%)	9mo	$170,000	$91	63
2081 Call Dr	0.58mi	3/2.5	1,704 (-3%)	2mo	$333,000	$195	60
1706 Sarasota Ct	0.18mi	4/1.0 (+1)	1,550 (-12%)	9mo	$225,000	$145	60
603 Ivy Ct	0.52mi	4/1.0 (+1)	1,610 (-8%)	6mo	$258,000	$160	52
1655 Kilkenny Dr	0.64mi	3/1.5	1,593 (-9%)	5mo	$280,000	$176	48
685 Hi Crest Dr	0.58mi	3/1.5	1,924 (+10%)	8mo	$278,000	$144	48
1824 Endon Dr	0.56mi	4/2.0 (+1)	1,621 (-8%)	8mo	$255,000	$157	46
1984 Brynell Dr	0.65mi	3/1.0	1,950 (+11%)	10mo	$212,000	$109	42
1994 Brynell Dr	0.65mi	3/1.5	1,491 (-15%)	5mo	$174,900	$117	39

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-41,164
• Equity at exit: $43,225

10-year hold

• IRR: -3.5%
• Equity multiple: 0.76×
• Total profit: $-19,811
• Equity at exit: $25,065

Cash invested: $81,172 (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 40505

• Rents YoY: 4.3%
• Active inventory: 68
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,274 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $45

Break-even live

Break-even rent $2,216

Max offer price $289,900

Occupancy floor 93%

Sensitivity live

Price	-10% $210	-5% $128	+0% $45	+5% $-37	+10% $-119
Rent	-10% $-134	-5% $-44	+0% $45	+5% $135	+10% $225
Rate	-1.0pp $191	-0.5pp $119	base $45	+0.5pp $-30	+1.0pp $-106

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1809 Meeting St Lexington, KY	1.0–3.0	1.0–2.0	977	$2,003	$2.05	15d	22	0.88mi
2151 Meeting St Lexington, KY	3.0	1.0–2.0	977	$2,237	$2.29	15d	39	1.06mi
1424 Maybank Park Lexington, KY	4.0	3.0	2081	$3,250	$1.56	24d	1	1.30mi

Listing history 29 events

1. 2026-06-18
   days on market $289,900 Active 23 DOM
2. 2026-06-17
   days on market $289,900 Active 22 DOM
3. 2026-06-16
   days on market $289,900 Active 21 DOM
4. 2026-06-15
   days on market $289,900 Active 20 DOM
5. 2026-06-14
   days on market $289,900 Active 18 DOM
6. 2026-06-13
   days on market $289,900 Active 17 DOM
7. 2026-06-10
   days on market $289,900 Active 15 DOM
8. 2026-06-09
   days on market $289,900 Active 14 DOM
9. 2026-06-09
   price $289,900 Active 13 DOM
10. 2026-06-08
    days on market $299,000 Active 13 DOM
11. 2026-06-07
    days on market $299,000 Active 12 DOM
12. 2026-06-05
    days on market $299,000 Active 9 DOM
13. 2026-06-03
    days on market $299,000 Active 8 DOM
14. 2026-06-02
    days on market $299,000 Active 7 DOM
15. 2026-06-01
    days on market $299,000 Active 6 DOM
16. 2026-05-31
    days on market $299,000 Active 5 DOM
17. 2026-05-31
    days on market $299,000 Active 4 DOM
18. 2026-05-26
    listed $299,000 Active
19. 2021-02-25
    soldstatus $160,000
20. 2021-02-19
    soldstatus $160,000 Sold 692-char remark

    Show marketing remark (692 chars)

    Price Reduction! Spacious split level home in the heart of Dixie Plantation. This home has 3 bedrooms, 1 bathroom, hardwood flooring, formal dining room, oversized 2 car detached garage, large level backyard and a stones throw from Dixie Elementary. The finished walk out basement is complete with a wood burning insert and separate storage and laundry rooms. There are several updates to mention; the windows and doors were replaced 2012-2013, Vinyl siding replaced 2011, water heater was replaced 4 years ago, and the HVAC system per the owner is 2 to 3 years old. Home being sold As-Is inspections welcome. Both sheds in the back yard convey. Seller is offering $3,000 credit for painting.

21. 2021-01-17
    status Pending 692-char remark

    Show marketing remark (692 chars)

    Price Reduction! Spacious split level home in the heart of Dixie Plantation. This home has 3 bedrooms, 1 bathroom, hardwood flooring, formal dining room, oversized 2 car detached garage, large level backyard and a stones throw from Dixie Elementary. The finished walk out basement is complete with a wood burning insert and separate storage and laundry rooms. There are several updates to mention; the windows and doors were replaced 2012-2013, Vinyl siding replaced 2011, water heater was replaced 4 years ago, and the HVAC system per the owner is 2 to 3 years old. Home being sold As-Is inspections welcome. Both sheds in the back yard convey. Seller is offering $3,000 credit for painting.

22. 2021-01-02
    price $174,900 692-char remark

    Show marketing remark (692 chars)

    Price Reduction! Spacious split level home in the heart of Dixie Plantation. This home has 3 bedrooms, 1 bathroom, hardwood flooring, formal dining room, oversized 2 car detached garage, large level backyard and a stones throw from Dixie Elementary. The finished walk out basement is complete with a wood burning insert and separate storage and laundry rooms. There are several updates to mention; the windows and doors were replaced 2012-2013, Vinyl siding replaced 2011, water heater was replaced 4 years ago, and the HVAC system per the owner is 2 to 3 years old. Home being sold As-Is inspections welcome. Both sheds in the back yard convey. Seller is offering $3,000 credit for painting.

23. 2020-12-10
    listed $179,900 Active 692-char remark

    Show marketing remark (692 chars)

    Price Reduction! Spacious split level home in the heart of Dixie Plantation. This home has 3 bedrooms, 1 bathroom, hardwood flooring, formal dining room, oversized 2 car detached garage, large level backyard and a stones throw from Dixie Elementary. The finished walk out basement is complete with a wood burning insert and separate storage and laundry rooms. There are several updates to mention; the windows and doors were replaced 2012-2013, Vinyl siding replaced 2011, water heater was replaced 4 years ago, and the HVAC system per the owner is 2 to 3 years old. Home being sold As-Is inspections welcome. Both sheds in the back yard convey. Seller is offering $3,000 credit for painting.

24. 2000-03-24
    soldstatus $96,500
25. 2000-02-24
    historical
26. 2000-01-22
    listed $96,500
27. 1998-05-22
    soldstatus $79,000
28. 1998-04-25
    historical
29. 1997-11-19
    listed $79,900

ⓘ 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: $1,316 · $110/mo
• Projected year-2 tax: $2,493 · $208/mo
• Expected delta: +$1,177/yr (+$98/mo · 89.4%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $27,285
• − Mortgage interest: −$16,239
• − Property taxes: −$1,316
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$8,433
• Taxable loss: −$4,519
• Est. tax savings @ 24.0%: +$1,085
• After-tax cash flow: $1,630/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): 25,594
• Household income: $58,206
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1232.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 17% Hispanic / Latino 13% Two or more races 10%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Italian 3% Serbian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 10%

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: ▼ -191.31%
• Current HPI: 249.2066
• Rent YoY: ▲ 4.31%
• 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

+274.2% since first listed

12 events — show timeline

• 2026-05-26 Listed $299,000 ImagineMLS
• 2021-02-25 Sold (Public Records) $160,000 Public Records
• 2021-02-19 Sold (MLS) $160,000 ImagineMLS
• 2021-01-17 Pending — ImagineMLS
• 2021-01-02 Price Changed $174,900 ImagineMLS
• 2020-12-10 Listed $179,900 ImagineMLS
• 2000-03-24 Sold (MLS) $96,500 ImagineMLS
• 2000-02-24 Listing Removed — ImagineMLS
• 2000-01-22 Listed $96,500 ImagineMLS
• 1998-05-22 Sold (MLS) $79,000 ImagineMLS
• 1998-04-25 Listing Removed — ImagineMLS
• 1997-11-19 Listed $79,900 ImagineMLS

Property tax history

+1.8%/yr

Latest (2015): $1,316 · +1.8% YoY. Source: county tax records.