114-116 E Mason Ave · Danville, KY 40422

$197,400

4 bd · 2.0 ba · 1,782 sqft · MultiFamily · 15 Days on market

Built 1960 Good condition 9,583 sqft lot Est $187k · 5% over

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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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• ARV discount +5.0/15.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

NEEDED home buyers & Investores Need a nearly new home with income?? This brick duplex has one side that has been remodeled, with New HVAC unit, Complete bath remodel, all new flooring, completely painted & new fixtures!!

Key facts

• 9,583 sq ft lot
• 4 parking spots
• Built 1960

Property features AI

Exterior

• Parking: Open parking
• Utilities: Cable available; Electricity available; Natural gas available; Sewer connected; Water connected
• Home design: Single-story duplex; Zoned R-2 (Residential Rental)
• Construction: Total building area approximately 1,782
• Exterior features: Metal roof

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating and cooling; Natural gas heating; Wall unit air conditioning
• Interior features: Duplex with two total units
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $197k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $197k).
• Recommended offer: $194k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.0% in Danville — 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 77/100 on livability (#85 in KY, #3,148 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Danville Independent (town): math 26% / reading 35% proficiency, ranked #110 of 165 in KY (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary G. Hogsett Primary School (367 students, 81% FRL); John W. Bate Middle School (math 19% / reading 37%, grade F, #165 of 217 statewide, top 77%, 399 students, 66% FRL); Danville High School (math 32% / reading 32%, grade F, #97 of 254 statewide, top 46%, 481 students, 63% FRL).
• Market conditions: 165 active listings in the ZIP; 85 units permitted in Boyle County in 2024 (0 in 5+ unit buildings).
• At $2,267/mo this rent would consume 46% of the median local household income ($60k/yr) (locally 1047% 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 $6k of value loss. Plan a longer hold.
• Boyle County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Recommended offer $194,439 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $187,110
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
174-176 Lisa Ave	0.24mi	4/2.0	1,764 (-1%)	3mo	$185,000	$105	85
99-103 E Jefferson	0.14mi	4/2.0	1,980 (+11%)	2mo	$195,000	$98	73

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,774
• Equity at exit: $29,433

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $30,980
• Equity at exit: $17,068

Cash invested: $55,272 (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 40422

• Home prices YoY: -12.8%
• Active inventory: 165
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,267 medium
• Mortgage (P&I): −$1,035
• Tax est. 1.5%: −$247 /mo · $2,961/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $427

Break-even live

Break-even rent $1,727

Max offer price $197,400

Occupancy floor 76%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,266
Total (2 units)			$2,267

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: $49,350
• Closing costs: $5,922
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $197,400 Active 15 DOM
2. 2026-06-18
   days on market $197,400 Active 14 DOM
3. 2026-06-17
   days on market $197,400 Active 13 DOM
4. 2026-06-16
   days on market $197,400 Active 12 DOM
5. 2026-06-15
   days on market $197,400 Active 11 DOM
6. 2026-06-14
   days on market $197,400 Active 9 DOM
7. 2026-06-12
   days on market $197,400 Active 8 DOM
8. 2026-06-09
   days on market $197,400 Active 5 DOM
9. 2026-06-08
   days on market $197,400 Active 4 DOM
10. 2026-06-07
    days on market $197,400 Active 3 DOM
11. 2026-06-07
    remarks 226-char remark
12. 2026-06-07
    listed $197,400 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $27,204
• − Mortgage interest: −$11,057
• − Property taxes: −$2,961
• − Insurance: −$987
• − Repairs & maintenance: −$2,176
• − Management: −$2,176
• − Depreciation: −$5,743
• Taxable income: $2,103
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $4,616/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.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This well-maintained and recently renovated two-unit property is in good condition with no major repairs needed. It offers a good investment opportunity with potential for further value increases through cosmetic upgrades.

Value-add opportunities

• Both Paint the exterior — Painting the exterior can enhance the curb appeal and increase both resale and rental value.
• Both Upgrade the landscaping — Upgrading the landscaping can improve the overall appearance and increase both resale and rental value.
• Both Install new windows — New windows can improve energy efficiency and increase both resale and rental value.
• Both Install new flooring in the bathrooms — New flooring can improve the appearance and functionality of the bathrooms and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Painting the exterior can enhance the curb appeal and increase both resale and rental value. ↑
• Both Upgrade the landscaping — Upgrading the landscaping can improve the overall appearance and increase both resale and rental value. ↑
• Both Install new windows — New windows can improve energy efficiency and increase both resale and rental value. ↑
• Both Install new flooring in the bathrooms — New flooring can improve the appearance and functionality of the bathrooms and increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Danville Independent
• NCES district ID: 2101440
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 35% ▼ -16.00%
• Median HH income: $34,215
• Composite: 25.08/100
• National rank: #7535
• State rank: #110 of 165 in KY

Livability — Danville

• Score: 77/100
• State rank: #85
• US rank: #3148

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, KY
• County: Boyle County · 25,950 people
• City population: 25,950
• Metro: Danville, KY
• Population (ZIP): 25,950
• Household income: $59,615
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 1047.0

Population outlook (Boyle County) Hauer SSP2

• Today (2025): 31,908 people
• By 2030: 32,875 · +3.0%
• By 2040: 34,549 · +8.3%
• By 2050: 36,095 · +13.1%
• By 2075: 39,800 · +24.7%
• By 2100: 40,157 · +25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Boyle

• 2024 margin: Strong R (+29.0) · D 34.7% · R 63.7% · Other 1.5%
• 2008→2024 swing: -5.8pp toward R · 2008: -23.2pp · 2024: -29.0pp
• All cycles: 2024: R+29.0 2020: R+24.7 2016: R+29.1 2012: R+26.1 2008: R+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.55%
• Current HPI: 262.516
• Rent YoY: —
• Metro: Danville, 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

1 event — show timeline

• 2026-06-04 Listed $197,400 ImagineMLS