125 E Walnut St · Richmond, KY 40475

$130,000

2 bd · 1.0 ba · 1,318 sqft · SingleFamily public records · 45 Days on market

8,712 sqft lot $99/sqft · 23% below area Est $174k · 25% under ↓ 24% 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.6/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

As they say, you should never judge a book by its cover! Come and see all of the potential that awaits the next owner of this unique property! Primed and ready for a new owner to make it their own, with a workshop out back to make it all come together! Work remotely from a home office in the loft! You will be pleasantly surprised by the vaulted ceilings, the home office, flex space, or 2nd bedroom in the loft space and the open feel inside the home. You will be blown away by the ENORMOUS 1400 Square foot garage and workshop space out back! Located close to Eastern Kentucky University, along the Red House Road corridor, this home is walkable to downtown Richmond & Madison Central Highs

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Listed 45 days

Property features AI

Exterior

• Parking: Detached garage; Driveway; Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: House; One and one-half stories; Public records list lot size as 0.2 acres
• Construction: Aluminum siding; Block foundation; Flat and shingle roof
• Exterior features: Workshop; Chain link, partial and wood fencing

Interior

• Kitchen: Range; Microwave; Disposal; Refrigerator
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Hardwood; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Electric cooling
• Interior features: Walk-in closet(s); Ceiling fan(s); Blinds; Fireplace
• Laundry & utility: Washer hookup (main level); Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/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 $124k (4.3% below list).
• Recommended offer: $124k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.1% in Richmond — 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 69/100 on livability (#163 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Madison County (town): math 31% / reading 47% proficiency, ranked #35 of 165 in KY (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kit Carson Elementary School (math 31% / reading 45%, grade F, #242 of 676 statewide, top 37%, 466 students, 50% FRL); Madison Middle School (math 24% / reading 43%, grade F, #105 of 217 statewide, top 51%, 670 students, 49% FRL); Madison Central High School (math 29% / reading 44%, grade F, #70 of 254 statewide, top 27%, 2,226 students, 47% FRL).
• Market conditions: Rents rising (+2.8%/yr); 501 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 453 units permitted in Madison County in 2024 (64 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,358 (4.3% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
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: 0.96% ✗
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (median comp): $173,923
• List price: $130,000
• Delta: -25.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 E Walnut St	0.03mi	3/2.0 (+1)	1,323 (+0%)	0mo	$193,000	$146	89
108 E Broadway Ave	0.13mi	3/2.0 (+1)	1,447 (+10%)	9mo	$187,500	$130	61
136 E Walnut St	0.04mi	3/2.0 (+1)	1,134 (-14%)	8mo	$200,000	$176	60
204 Kalone Dr	0.51mi	3/2.0 (+1)	1,259 (-4%)	1mo	$191,915	$152	59
113 Short St	0.75mi	3/2.0 (+1)	1,300 (-1%)	1mo	$257,000	$198	53
9029 Beginnings Way	0.52mi	3/2.0 (+1)	1,388 (+5%)	7mo	$275,000	$198	52
7005 Golgotha Dr	0.62mi	3/2.0 (+1)	1,416 (+7%)	1mo	$289,000	$204	49
8017 All Saints Way	0.59mi	3/2.0 (+1)	1,437 (+9%)	3mo	$295,000	$205	46
103 Golfview Dr	0.45mi	2/2.0	1,125 (-15%)	6mo	$132,000	$117	46
622 Cottonwood Dr	0.73mi	3/1.0 (+1)	1,225 (-7%)	4mo	$173,500	$142	46
101 Mcwhorter Ct	0.56mi	3/1.0 (+1)	1,144 (-13%)	2mo	$125,000	$109	45
610 Cottonwood Dr	0.67mi	3/1.0 (+1)	1,148 (-13%)	2mo	$130,000	$113	41

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 · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-9,085
• Equity at exit: $19,383

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $6,753
• Equity at exit: $11,240

Cash invested: $36,400 (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 40475

• Home prices YoY: -22.7%
• Rents YoY: 2.8%
• Active inventory: 501
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$682
• Tax from tax record: −$54 /mo · $650/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $192

Break-even live

Break-even rent $1,000

Max offer price $130,000

Occupancy floor 80%

Sensitivity live

Price	-10% $266	-5% $229	+0% $192	+5% $156	+10% $119
Rent	-10% $94	-5% $143	+0% $192	+5% $242	+10% $291
Rate	-1.0pp $258	-0.5pp $225	base $192	+0.5pp $159	+1.0pp $124

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 S Robbins Ct Richmond, KY	2.0	1.0	880	$1,200	$1.36	24d	1	0.17mi
223 W Broadway Ave Richmond, KY	3.0	1.0	1095	$1,175	$1.07	45d	1	0.19mi
512 Claire Pl Richmond, KY	1.0–2.0	1.0–2.0	913	$1,345	$1.47	45d	2	0.39mi
428 North St Unit Z2 Richmond, KY	3.0	1.0	1310	$1,099	$0.84	45d	1	0.45mi
2 Wellington Ct Unit A Richmond, KY	3.0	1.0	1100	$2,450	$2.23	45d	1	0.65mi
325 S 3rd St Unit B Richmond, KY	2.0	1.0	1000	$1,195	$1.20	24d	1	0.70mi
254 Lombardy St Richmond, KY	3.0	1.0	655	$1,083	$1.65	15d	4	0.72mi
327 High St Apt B Richmond, KY	2.0	2.0	1100	$1,550	$1.41	15d	1	0.75mi
327 High St Unit C Richmond, KY	2.0	2.0	1100	$950	$0.86	45d	1	0.75mi
333 High St Unit A Richmond, KY	2.0	2.0	1100	$1,600	$1.45	45d	1	0.77mi
1052 Merrick Dr Unit 2 Richmond, KY	3.0	3.0	1250	$1,500	$1.20	45d	1	0.78mi
1118 Richmond Green Dr Unit 2 Richmond, KY	2.0	2.0	1200	$995	$0.83	15d	1	0.91mi
804 Melanie Ln Richmond, KY	2.0	2.5	1200	$1,250	$1.04	45d	1	0.99mi
418 Big Hill Ave Richmond, KY	1.0–2.0	1.0	795	$1,012	$1.27	24d	2	1.05mi
307 W Blair Ave Richmond, KY	3.0	2.0	1640	$1,850	$1.13	15d	1	1.06mi
107 Darleen Ct Richmond, KY	3.0	1.0	1128	$1,200	$1.06	45d	1	1.14mi
633 Big Hill Ave Richmond, KY	1.0–3.0	1.0	775	$966	$1.25	45d	1	1.18mi
105 Meadowlark Dr Richmond, KY	1.0	1.0	950	$750	$0.79	24d	1	1.33mi

Listing history 13 events

1. 2026-06-15
   statusdays on market $130,000 Pending 45 DOM
2. 2026-06-14
   pricedays on market $130,000 Active 44 DOM
3. 2026-06-10
   days on market $155,000 Active 41 DOM
4. 2026-06-09
   days on market $155,000 Active 40 DOM
5. 2026-06-08
   days on market $155,000 Active 39 DOM
6. 2026-06-07
   days on market $155,000 Active 38 DOM
7. 2026-06-05
   days on market $155,000 Active 35 DOM
8. 2026-06-03
   days on market $155,000 Active 34 DOM
9. 2026-06-02
   days on market $155,000 Active 33 DOM
10. 2026-06-01
    days on market $155,000 Active 32 DOM
11. 2026-05-31
    days on market $155,000 Active 31 DOM
12. 2026-05-31
    days on market $155,000 Active 30 DOM
13. 2026-04-30
    listed $170,000 Active 818-char remark

ⓘ 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: $650 · $54/mo
• Projected year-2 tax: $1,118 · $93/mo
• Expected delta: +$468/yr (+$39/mo · 72.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,923
• − Mortgage interest: −$7,282
• − Property taxes: −$650
• − Insurance: −$650
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$3,782
• Taxable income: $172
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $2,267/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: Madison County
• NCES district ID: 2103720
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $43,590
• Composite: 32.99/100
• National rank: #5580
• State rank: #35 of 165 in KY

Livability — Richmond

• Score: 69/100
• State rank: #163
• US rank: #8196

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, KY
• County: Madison County · 93,568 people
• City population: 65,961
• Metro: Richmond-Berea, KY
• Population (ZIP): 65,961
• Household income: $63,050
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 2031.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 99,241 people
• By 2030: 104,927 · +5.7%
• By 2040: 116,079 · +17.0%
• By 2050: 127,293 · +28.3%
• By 2075: 155,644 · +56.8%
• By 2100: 176,488 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+30.9) · D 33.6% · R 64.5% · Other 1.9%
• 2008→2024 swing: -8.4pp toward R · 2008: -22.4pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.8 2016: R+31.2 2012: R+28.9 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.04%
• Current HPI: 245.8489
• Rent YoY: ▲ 2.82%
• Metro: Richmond-Berea, 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

-23.5% since first listed

4 events — show timeline

• 2026-06-14 Pending — ImagineMLS
• 2026-06-12 Price Changed $130,000 ImagineMLS
• 2026-05-22 Price Changed $155,000 ImagineMLS
• 2026-04-30 Listed $170,000 ImagineMLS

Property tax history

+5.6%/yr

Latest (2025): $650 · +145.2% YoY. Source: county tax records.