313 Holmes St · Frankfort, KY 40601

$110,000

4 bd · 2.0 ba · 1,680 sqft · SingleFamily · 21 Days on market

3,567 sqft 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! Two unit building. Downstairs is a 3 bedroom 1 bathroom unit with utility room and washer dryer hookups. Upstairs is a 1 bedroom 1 bathroom unit.

Key facts

• 3,567 sq ft lot
• Listed 20 days

Property features AI

Finance

• Other: Lot about 0.0819 acres (3,567 sq ft); Located in the Thornhill subdivision; County: Franklin

Exterior

• Utilities: Public water; Public sewer
• Home design: House / Multi-family; One and one half levels
• Construction: Wood siding construction
• Exterior features: Block foundation; Shingle roof; Wood siding

Interior

• Bedrooms: 2 total rooms (includes bedrooms and living areas)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Electric cooling; Has heating
• Interior features: Vinyl flooring; Crawl space basement; No fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.3% in Frankfort — 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 74/100 on livability (#111 in KY, #4,772 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, amenities F, health & safety F.
• Frankfort Independent (town): math 35% / reading 42% proficiency, ranked #45 of 165 in KY (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Second Street School (math 30% / reading 38%, grade F, #329 of 676 statewide, top 49%, 571 students, 53% FRL); Frankfort High School (math 57% / reading 57%, grade C, #6 of 254 statewide, top 2%, 322 students, 40% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 303 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 123 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Franklin County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.45% ✓
• Cap rate: 12.97%
• Cash-on-cash: 23.83%
• DSCR: 2.06
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $262,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Ashmore Dr	0.18mi	3/1.5 (-1)	1,700 (+1%)	2mo	$297,000	$175	80
326 Wallace Ave	0.10mi	3/1.0 (-1)	1,645 (-2%)	9mo	$130,000	$79	76
3 Ashmore Dr	0.20mi	3/1.5 (-1)	1,595 (-5%)	9mo	$219,000	$137	68
254 Wright St	0.13mi	4/2.5	1,585 (-6%)	23mo	$184,000	$116	63
412 Holmes St	0.16mi	3/2.0 (-1)	1,572 (-6%)	23mo	$50,000	$32	58
519 Greenup Ave	0.57mi	3/1.0 (-1)	1,701 (+1%)	12mo	$190,000	$112	52
310 E Fourth St	0.73mi	3/2.0 (-1)	1,649 (-2%)	10mo	$299,000	$181	50
122 Oaklawn Dr	0.66mi	3/1.0 (-1)	1,500 (-11%)	6mo	$245,000	$163	37
230 E 4th St	0.74mi	3/2.5 (-1)	1,800 (+7%)	22mo	$350,000	$194	28
314 East 4th St	0.73mi	4/3.0	1,872 (+11%)	23mo	$360,000	$192	24
131 Oaklawn Dr	0.61mi	3/1.0 (-1)	1,446 (-14%)	19mo	$225,000	$156	24
121 Compton Dr	0.72mi	3/2.0 (-1)	1,902 (+13%)	21mo	$227,500	$120	22

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 · 6.55% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.88×
• Total profit: $26,980
• Equity at exit: $16,401

10-year hold

• IRR: 30.9%
• Equity multiple: 4.23×
• Total profit: $99,481
• Equity at exit: $9,511

Cash invested: $30,800 (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 40601

• Home prices YoY: -26.1%
• Rents YoY: 6.5%
• Active inventory: 303
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,593 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$24 /mo · $285/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $612

Break-even live

Break-even rent $818

Max offer price $110,000

Occupancy floor 57%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
565 Schenkel Ln Frankfort, KY	2.0–3.0	1.0–2.0	987	$1,235	$1.25	14d	8	1.42mi

Listing history 27 events

1. 2026-06-19
   days on market $110,000 Active 21 DOM
2. 2026-06-18
   days on market $110,000 Active 20 DOM
3. 2026-06-17
   days on market $110,000 Active 19 DOM
4. 2026-06-16
   days on market $110,000 Active 18 DOM
5. 2026-06-15
   days on market $110,000 Active 17 DOM
6. 2026-06-14
   days on market $110,000 Active 15 DOM
7. 2026-06-13
   status $110,000 Active 14 DOM
8. 2026-06-02
   status $110,000 Pending 14 DOM
9. 2026-06-01
   days on market $110,000 Active 14 DOM
10. 2026-05-31
    days on market $110,000 Active 13 DOM
11. 2026-05-30
    days on market $110,000 Active 12 DOM
12. 2026-05-15
    listed $110,000 Active
13. 2021-04-05
    soldstatus $250,000
14. 2020-11-19
    historical
15. 2020-09-10
    listed $239,000 Active
16. 2020-08-21
    price $239,000
17. 2019-08-15
    soldstatus $212,000
18. 2017-12-20
    historical
19. 2017-12-19
    listed $350 Active
20. 2016-08-22
    soldstatus $53,000
21. 2016-02-15
    soldstatus $15,000 Sold
22. 2016-01-25
    status Pending
23. 2016-01-18
    price $21,500
24. 2016-01-05
    price $23,500
25. 2015-11-06
    listed $27,500 Active
26. 1987-12-23
    soldstatus $20,000
27. 1986-01-01
    soldstatus $8,000

ⓘ 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: $285 · $24/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$661/yr (+$55/mo · 231.9%)

ⓘ 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 · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,111
• − Mortgage interest: −$6,162
• − Property taxes: −$285
• − Insurance: −$550
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$3,200
• Taxable income: $5,856
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $5,935/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: Frankfort Independent
• NCES district ID: 2101980
• Math proficiency: 35% ▼ -14.00%
• Reading proficiency: 42% ▼ -14.00%
• Median HH income: $35,212
• Composite: 31.81/100
• National rank: #5882
• State rank: #45 of 165 in KY

Livability — Frankfort

• Score: 74/100
• State rank: #111
• US rank: #4772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frankfort, KY
• County: Franklin County · 51,893 people
• City population: 51,893
• Metro: Frankfort, KY
• Population (ZIP): 51,893
• Household income: $65,732
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 1621.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 52,996 people
• By 2030: 54,049 · +2.0%
• By 2040: 55,561 · +4.8%
• By 2050: 56,677 · +6.9%
• By 2075: 59,458 · +12.2%
• By 2100: 58,885 · +11.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Franklin

• 2024 margin: Toss-up / Even · D 46.6% · R 51.4% · Other 2.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -0.6pp · 2024: -4.8pp
• All cycles: 2024: R+4.8 2020: R+0.9 2016: R+4.6 2012: D+0.8 2008: R+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.43%
• Current HPI: 248.0324
• Rent YoY: ▲ 6.55%
• Metro: Frankfort, 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

+1275.0% since first listed

16 events — show timeline

• 2026-05-15 Listed $110,000 ImagineMLS
• 2021-04-05 Sold (Public Records) $250,000 Public Records
• 2020-11-19 Listing Removed — ImagineMLS
• 2020-09-10 Listed $239,000 ImagineMLS
• 2020-08-21 Price Changed $239,000 ImagineMLS
• 2019-08-15 Sold (Public Records) $212,000 Public Records
• 2017-12-20 Listing Removed — ImagineMLS
• 2017-12-19 Listed $350 ImagineMLS
• 2016-08-22 Sold (Public Records) $53,000 Public Records
• 2016-02-15 Sold (MLS) $15,000 ImagineMLS
• 2016-01-25 Pending — ImagineMLS
• 2016-01-18 Price Changed $21,500 ImagineMLS
• 2016-01-05 Price Changed $23,500 ImagineMLS
• 2015-11-06 Listed $27,500 ImagineMLS
• 1987-12-23 Sold (Public Records) $20,000 Public Records
• 1986-01-01 Sold (Public Records) $8,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $285 · -0.1% YoY. Source: county tax records.