372 Holmes St · Frankfort, KY 40601

$145,000

3 bd · 1.0 ba · 1,075 sqft · SingleFamily · 30 Days on market

4,487 sqft lot Est $162k · 11% under

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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 +19.0/30.0
• ARV discount +12.3/15.0
• DSCR +6.0/10.0
• Rent growth +4.1/5.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

Key facts

• Spacious back deck
• Near parks
• Near grocery stores

Tags

• SPACIOUS BACK DECK
• CONVENIENTLY LOCATED
• NEAR GROCERY STORES
• NEAR PARKS
• NEAR INTERSTATE ACCESS
• NEAR EVERYDAY AMENITIES

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Single-story house
• Construction: Vinyl siding; Shingle roof; Block foundation; Built area approximately 1,075
• Exterior features: Shed(s); Neighborhood view

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Eat-in kitchen; Ceiling fan(s); Blinds
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $152 ($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 $126k (12.9% below list).
• Recommended offer: $126k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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; 2 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $126,330 (12.9% 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: 0.87% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.51%
• DSCR: 1.20
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $162,325
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
432 Owenton Ave	0.20mi	2/1.0 (-1)	1,080 (+0%)	6mo	$19,000	$18	80
335 Murrell St	0.12mi	3/1.0	1,190 (+11%)	6mo	$88,000	$74	71
133 Wallace Ave	0.33mi	2/1.0 (-1)	1,024 (-5%)	3mo	$80,000	$78	69
806 5th Ave	0.57mi	3/2.0	1,100 (+2%)	1mo	$187,000	$170	65
138 Oaklawn Dr	0.49mi	3/1.0	1,037 (-4%)	8mo	$215,000	$207	65
113 Phillips St	0.45mi	2/1.0 (-1)	1,100 (+2%)	8mo	$80,000	$73	64
328 Hardy Street St	0.46mi	3/1.0	1,130 (+5%)	9mo	$180,000	$159	62
106 Spring St	0.34mi	3/1.0	988 (-8%)	10mo	$140,000	$142	62
731 Blackburn Ave	0.57mi	3/1.0	1,160 (+8%)	7mo	$175,000	$151	54
311 E Second St	0.70mi	2/1.0 (-1)	1,000 (-7%)	2mo	$189,900	$190	49
103 Valley View Dr	0.66mi	2/1.0 (-1)	1,001 (-7%)	8mo	$190,000	$190	46
327 Saint Charles St	0.53mi	3/2.0	1,218 (+13%)	7mo	$180,000	$148	43

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: -5.9%
• Equity multiple: 0.77×
• Total profit: $-9,188
• Equity at exit: $21,620

10-year hold

• IRR: 7.1%
• Equity multiple: 1.61×
• Total profit: $24,822
• Equity at exit: $12,537

Cash invested: $40,600 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$25 /mo · $296/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $152

Break-even live

Break-even rent $1,070

Max offer price $145,000

Occupancy floor 83%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Compton Dr Frankfort, KY	2.0	1.0	500	$930	$1.86	43d	9	0.69mi
565 Schenkel Ln Frankfort, KY	2.0–3.0	1.0–2.0	987	$1,235	$1.25	13d	8	1.29mi

Listing history 29 events

1. 2026-06-19
   days on market $145,000 Active 30 DOM
2. 2026-06-18
   days on market $145,000 Active 29 DOM
3. 2026-06-17
   days on market $145,000 Active 28 DOM
4. 2026-06-16
   days on market $145,000 Active 27 DOM
5. 2026-06-15
   days on market $145,000 Active 26 DOM
6. 2026-06-14
   days on market $145,000 Active 24 DOM
7. 2026-06-12
   pricedays on market $145,000 Active 23 DOM
8. 2026-06-02
   days on market $155,000 Active 20 DOM
9. 2026-06-01
   days on market $155,000 Active 19 DOM
10. 2026-05-31
    days on market $155,000 Active 18 DOM
11. 2026-05-30
    days on market $155,000 Active 17 DOM
12. 2026-05-18
    price $155,000
13. 2026-05-13
    listed $160,000 Active
14. 2025-05-20
    soldstatus $149,500
15. 2025-05-09
    soldstatus $149,500 Closed 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

16. 2025-03-02
    status Pending 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

17. 2025-01-29
    price $149,900 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

18. 2025-01-23
    price $159,900 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

19. 2025-01-11
    status Active 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

20. 2025-01-03
    historical Contingent 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

21. 2025-01-01
    listed $164,900 Active 352-char remark

    Show marketing remark (352 chars)

    Welcome to this 3 bedroom, 1 full bath home located close to downtown and all that Frankfort has to offer. This home has many updates throughout and is move in ready. Large living room, den, eat in kitchen, bathroom has a new tub with tile surround, central gas heat and ac, a nice storage building, covered front porch and all located on a corner lot!

22. 2024-01-17
    soldstatus $65,000 Closed 60-char remark

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

23. 2023-09-27
    status Pending 60-char remark

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

24. 2023-09-27
    status Active 60-char remark

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

25. 2023-08-15
    status Pending 60-char remark

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

26. 2023-08-11
    historical 60-char remark

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

27. 2023-07-31
    listed $79,900 Active 60-char remark

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

28. 2023-07-31
    soldstatus $60,000

    Show marketing remark (60 chars)

    3bd/1ba with 1000 sqft. Roof 3 years old per previous owner.

29. 1994-11-04
    soldstatus $13,500

ⓘ 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: $296 · $25/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$951/yr (+$79/mo · 320.7%)

ⓘ 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 · 69% 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: $15,160
• − Mortgage interest: −$8,122
• − Property taxes: −$296
• − Insurance: −$725
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$4,218
• Taxable loss: −$628
• Est. tax savings @ 24.0%: +$151
• After-tax cash flow: $1,981/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

+1048.1% since first listed

18 events — show timeline

• 2026-05-18 Price Changed $155,000 ImagineMLS
• 2026-05-13 Listed $160,000 ImagineMLS
• 2025-05-20 Sold (Public Records) $149,500 Public Records
• 2025-05-09 Sold (MLS) $149,500 ImagineMLS
• 2025-03-02 Pending — ImagineMLS
• 2025-01-29 Price Changed $149,900 ImagineMLS
• 2025-01-23 Price Changed $159,900 ImagineMLS
• 2025-01-11 Relisted — ImagineMLS
• 2025-01-03 Contingent — ImagineMLS
• 2025-01-01 Listed $164,900 ImagineMLS
• 2024-01-17 Sold (MLS) $65,000 ImagineMLS
• 2023-09-27 Pending — ImagineMLS
• 2023-09-27 Relisted — ImagineMLS
• 2023-08-15 Pending — ImagineMLS
• 2023-08-11 Listing Removed — ImagineMLS
• 2023-07-31 Sold (Public Records) $60,000 Public Records
• 2023-07-31 Listed $79,900 ImagineMLS
• 1994-11-04 Sold (Public Records) $13,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $296 · +8.2% YoY. Source: county tax records.