705 Hillcrest Ave · Frankfort, KY 40601

$90,000

1 bd · 1.0 ba · 1,400 sqft · SingleFamily · 42 Days on market

0.25 ac lot

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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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OWNER OCCUPIED!!!! This home is being sold at Auction!!! Lovely home with basement located in Frankfort. One and half story home with cover porch!!!! See remarks on how and where to bid on home.

Key facts

• 0.25 acre lot
• Listed 41 days

Property features AI

Finance

• Other: Lot is approximately 0.25 acres (public records)

Exterior

• Utilities: Sewer: Other
• Home design: House; One and one-half stories
• Construction: Built with vinyl siding and other materials; Block foundation; Approximately 1,400 building area
• Exterior features: Public water; Not on waterfront; No notable view

Interior

• Bedrooms: 2 total rooms (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom
• Interior features: Unfinished basement; No fireplace

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($935 rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Franklin County (town): math 25% / reading 37% proficiency, ranked #89 of 165 in KY (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Peaks Mill Elementary (math 30% / reading 36%, grade F, #338 of 676 statewide, top 50%, 410 students, 64% FRL); Elkhorn Middle School (math 17% / reading 33%, grade F, #184 of 217 statewide, top 87%, 737 students, 60% FRL); Franklin County High School (math 27% / reading 37%, grade F, #97 of 254 statewide, top 46%, 960 students, 48% 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).
• This rent is only 17% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $90k implies a 650% gain — meaningful room to come down on a strong offer.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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: 1.04% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $183,400
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Clifton Ave	0.18mi	2/1.5 (+1)	1,368 (-2%)	14mo	$194,000	$142	69
164 Gayle Street St	0.44mi	2/1.5 (+1)	1,376 (-2%)	13mo	$170,000	$124	59
113 Allnutt Dr	0.60mi	2/1.0 (+1)	1,271 (-9%)	0mo	$81,500	$64	51
363 Holmes St	0.51mi	2/1.0 (+1)	1,336 (-5%)	15mo	$175,000	$131	51
411 Noel Ave	0.49mi	2/1.0 (+1)	1,581 (+13%)	6mo	$185,000	$117	46
712 Bradley St	0.72mi	2/1.0 (+1)	1,243 (-11%)	5mo	$180,000	$145	39
121 Schenkelwood Dr	0.73mi	2/1.0 (+1)	1,258 (-10%)	9mo	$210,000	$167	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 · 6.55% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-697
• Equity at exit: $13,419

10-year hold

• IRR: 12.2%
• Equity multiple: 2.11×
• Total profit: $28,044
• Equity at exit: $7,782

Cash invested: $25,200 (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: 8.0×

Monthly cashflow live

• Estimated rent: $935 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $164

Break-even live

Break-even rent $727

Max offer price $90,000

Occupancy floor 77%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
565 Schenkel Ln Frankfort, KY	2.0–3.0	1.0–2.0	987	$877	$0.89	13d	8	0.82mi
315 Bypass Plaza Dr Frankfort, KY	2.0–3.0	1.0–2.0	825	$1,049	$1.27	43d	2	1.00mi

Listing history 18 events

1. 2026-06-19
   days on market $90,000 Active 42 DOM
2. 2026-06-18
   days on market $90,000 Active 41 DOM
3. 2026-06-17
   days on market $90,000 Active 40 DOM
4. 2026-06-16
   days on market $90,000 Active 39 DOM
5. 2026-06-15
   days on market $90,000 Active 38 DOM
6. 2026-06-14
   days on market $90,000 Active 36 DOM
7. 2026-06-12
   days on market $90,000 Active 35 DOM
8. 2026-06-09
   days on market $90,000 Active 32 DOM
9. 2026-06-08
   days on market $90,000 Active 31 DOM
10. 2026-06-07
    days on market $90,000 Active 30 DOM
11. 2026-06-05
    days on market $90,000 Active 27 DOM
12. 2026-06-03
    days on market $90,000 Active 26 DOM
13. 2026-06-02
    days on market $90,000 Active 25 DOM
14. 2026-06-01
    days on market $90,000 Active 24 DOM
15. 2026-05-31
    days on market $90,000 Active 23 DOM
16. 2026-05-30
    days on market $90,000 Active 22 DOM
17. 2026-05-08
    listed $100,000 Active
18. 1993-01-13
    soldstatus $12,000

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 19 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: $11,216
• − Mortgage interest: −$5,041
• − Property taxes: −$779
• − Insurance: −$450
• − Repairs & maintenance: −$897
• − Management: −$897
• − Depreciation: −$2,618
• Taxable income: $533
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $1,840/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: Franklin County
• NCES district ID: 2102010
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 37% ▼ -14.00%
• Median HH income: $50,879
• Composite: 27.07/100
• National rank: #7049
• State rank: #89 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

+733.3% since first listed

2 events — show timeline

• 2026-05-08 Listed $100,000 ImagineMLS
• 1993-01-13 Sold (Public Records) $12,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $779 · +1.3% YoY. Source: county tax records.