1809 Hisle Way · Lexington-Fayette, KY 40505

$300,000

4 bd · 2.5 ba · 2,304 sqft · MultiFamily public records · 40 Days on market

Built 1989 Est $256k · 17% over ↓ 2% since listing

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Why this score? — see what drove the F 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 +14.7/30.0
• DSCR +4.5/10.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• 1% rule +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

If interested please call or text. If I do not answer call, please leave message. I will get back with you.

Key facts

• Built 1989
• Listed 40 days

Property features AI

Finance

• Other: Living area approximately 2304
• Financial info: Financial details not provided
• HOA & community: HOA details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Utilities details not provided
• Home design: Built in 1989; Single-family property
• Construction: Year built: 1989; Construction materials and roof details not provided
• Exterior features: Located in the Eastland Parkway subdivision

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not provided
• Bathrooms: Bathrooms not specified
• Heating & cooling: Heating and cooling details not provided
• Interior features: Open living spaces
• Laundry & utility: Laundry and utility details not provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $79 ($947/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 $240k (20.1% below list).
• Recommended offer: $240k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 F — 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); Bryan Station High School (math 18% / reading 25%, grade F, #209 of 254 statewide, top 82%, 1,893 students, 59% FRL).
• Zoned-school proficiency averages 27% at this address vs 40% district-wide (-13 pts) — the specific schools serving this property underperform the Fayette County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.3%/yr); 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,036 units permitted in Fayette County in 2024 (542 in 5+ unit buildings).
• At $2,396/mo this rent would consume 49% 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 40 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.

Recommended offer $239,600 (20.1% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 20% 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. 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 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: 0.80% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.13%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $255,744
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1804 Marietta Dr	0.61mi	4/3.5	2,110 (-8%)	20mo	$234,900	$111	37

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-40,513
• Equity at exit: $44,731

10-year hold

• IRR: -2.7%
• Equity multiple: 0.81×
• Total profit: $-15,825
• Equity at exit: $25,939

Cash invested: $84,000 (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: 71
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$116 /mo · $1,389/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $79

Break-even live

Break-even rent $2,296

Max offer price $300,000

Occupancy floor 92%

Sensitivity live

Price	-10% $249	-5% $164	+0% $79	+5% $-6	+10% $-91
Rent	-10% $-110	-5% $-16	+0% $79	+5% $174	+10% $268
Rate	-1.0pp $230	-0.5pp $155	base $79	+0.5pp $1	+1.0pp $-78

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,396
Total (2 units)			$2,396

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1424 Maybank Park Lexington, KY	4.0	3.0	2081	$3,250	$1.56	25d	1	1.34mi

Listing history 18 events

1. 2026-06-22
   days on market $300,000 Active 40 DOM
2. 2026-06-18
   days on market $300,000 Active 37 DOM
3. 2026-06-17
   days on market $300,000 Active 36 DOM
4. 2026-06-16
   days on market $300,000 Active 35 DOM
5. 2026-06-15
   days on market $300,000 Active 34 DOM
6. 2026-06-14
   days on market $300,000 Active 32 DOM
7. 2026-06-13
   days on market $300,000 Active 31 DOM
8. 2026-06-10
   days on market $300,000 Active 29 DOM
9. 2026-06-09
   days on market $300,000 Active 28 DOM
10. 2026-06-08
    days on market $300,000 Active 27 DOM
11. 2026-06-07
    days on market $300,000 Active 26 DOM
12. 2026-06-05
    days on market $300,000 Active 23 DOM
13. 2026-06-03
    days on market $300,000 Active 22 DOM
14. 2026-06-02
    days on market $300,000 Active 21 DOM
15. 2026-06-01
    days on market $300,000 Active 20 DOM
16. 2026-05-31
    days on market $300,000 Active 19 DOM
17. 2026-05-13
    price $300,000
18. 2026-05-12
    listed $305,000 Active

ⓘ 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: $1,389 · $116/mo
• Projected year-2 tax: $2,580 · $215/mo
• Expected delta: +$1,191/yr (+$99/mo · 85.8%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,752
• − Mortgage interest: −$16,805
• − Property taxes: −$1,389
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − Depreciation: −$8,727
• Taxable loss: −$4,269
• Est. tax savings @ 24.0%: +$1,025
• After-tax cash flow: $1,971/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

-1.6% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $300,000 FSBO.com
• 2026-05-12 Listed $305,000 FSBO.com

Property tax history

+1.8%/yr

Latest (2015): $1,389 · +1.8% YoY. Source: county tax records.