345 Larkwood Dr · Lexington-Fayette, KY 40509

$220,000

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 27 Days on market

Built 1971 6,534 sqft lot Est $218k · at est.

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Why this score? — see what drove the D 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 +14.4/30.0
• ARV discount +7.2/15.0
• DSCR +4.4/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• 1% rule +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Woodhill property with three bedrooms. Super size backyard for those outdoor activities. Newer soffit, kitchen bath flooring and doors. Cabinets have been replaced. All hardwood floors have been redone.

Key facts

• Huge flat backyard
• Updated kitchen
• Updated bathroom

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• HUGE FLAT BACKYARD
• EASY ACCESS TO MAJOR ROADS

Property features AI

Finance

• Other: Lot approximately 0.15 acres

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single-story house
• Construction: Brick veneer exterior; Block foundation; Shingle roof; Built area approximately 1,025 total
• Exterior features: Chain link and wood fencing; Not on waterfront; Public water

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 7 rooms (includes living spaces and bedrooms)
• Flooring: Hardwood floors; Laminate floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating (has heating)
• Interior features: Eat-in kitchen; Primary bedroom on the first floor
• Laundry & utility: Washer hookup on main level; Electric dryer hookup; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $43 ($510/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 $171k (22.1% below list).
• Recommended offer: $171k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 D — 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: Madeline M Breckinridge Elem School (math 27% / reading 37%, grade F, #348 of 676 statewide, top 55%, 509 students, 78% FRL); Crawford Middle School (math 15% / reading 31%, grade F, #197 of 217 statewide, top 92%, 751 students, 68% FRL); Henry Clay High School (math 43% / reading 49%, grade D-, #20 of 254 statewide, top 8%, 2,031 students, 47% FRL) — zoned schools average 64% FRL vs 44% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,036 units permitted in Fayette County in 2024 (542 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 27 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.
• Current owner paid $180k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $171,289 (22.1% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.78% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $218,325
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
329 Larkwood Dr	0.04mi	3/1.0	1,025 (0%)	2mo	$172,500	$168	96
401 Peachtree Rd	0.09mi	3/1.0	1,025 (0%)	1mo	$212,500	$207	95
429 Hedgewood Dr	0.11mi	3/1.0	1,025 (0%)	6mo	$220,000	$215	90
356 Mulberry Dr	0.33mi	3/1.0	1,025 (0%)	3mo	$189,000	$184	83
464 Peachtree Rd	0.11mi	3/1.0	947 (-8%)	6mo	$176,000	$186	78
301 Driftwood Pl	0.24mi	2/1.0 (-1)	935 (-9%)	2mo	$157,400	$168	68
701 Woodward Ln	0.50mi	3/1.5	1,008 (-2%)	7mo	$215,000	$213	66
2583 Woodhill Dr	0.16mi	2/2.0 (-1)	949 (-7%)	6mo	$230,000	$242	66
2596 Woodhill Dr	0.19mi	2/2.0 (-1)	945 (-8%)	6mo	$210,000	$222	64
2512 Cashel Ct	0.24mi	2/2.0 (-1)	1,103 (+8%)	8mo	$239,900	$217	60
697 Graftons Mill Ln	0.38mi	3/2.0	1,118 (+9%)	7mo	$265,000	$237	58
317 Reno Ct	0.58mi	3/1.5	1,134 (+11%)	2mo	$217,900	$192	52

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 · 2.22% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-34,379
• Equity at exit: $32,803

10-year hold

• IRR: -8.7%
• Equity multiple: 0.48×
• Total profit: $-32,258
• Equity at exit: $19,022

Cash invested: $61,600 (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 40509

• Home prices YoY: -20.6%
• Rents YoY: 2.2%
• Active inventory: 279
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,713 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $43

Break-even live

Break-even rent $1,659

Max offer price $220,000

Occupancy floor 93%

Sensitivity live

Price	-10% $167	-5% $105	+0% $43	+5% $-20	+10% $-82
Rent	-10% $-93	-5% $-25	+0% $43	+5% $110	+10% $178
Rate	-1.0pp $153	-0.5pp $98	base $43	+0.5pp $-15	+1.0pp $-72

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Larkwood Dr Unit Z1 Lexington, KY	4.0	2.0	1361	$1,849	$1.36	14d	1	0.11mi
179 Hedgewood Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,375	$1.27	24d	1	0.20mi
262 Osage Ct Unit 1 Lexington, KY	3.0	1.5	1080	$1,475	$1.37	24d	1	0.21mi
2400 Woodhill Dr Lexington, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.37mi
2409 Timberhill Ct Unit 4 Lexington, KY	2.0	1.5	990	$1,150	$1.16	24d	1	0.38mi
200 Alsab Ct Lexington, KY	2.0–3.0	1.5	940	$1,445	$1.54	24d	10	0.39mi
649 Hugging Bear Dr Lexington, KY	3.0	2.0	1253	$1,750	$1.40	22d	1	0.41mi
2716 Chelsea Woods Ct Lexington, KY	2.0	1.0	861	$1,400	$1.63	14d	1	0.48mi
2720 Chelsea Woods Ct Lexington, KY	3.0	2.0	1018	$1,595	$1.57	24d	1	0.48mi
175 N Mount Tabor Rd Lexington, KY	1.0–2.0	1.0–2.0	847	$1,362	$1.61	14d	9	0.50mi
300 Quinton Ct Lexington, KY	1.0–3.0	1.0–2.0	927	$1,557	$1.68	14d	38	0.56mi
2360 Liberty Rd Lexington, KY	3.0	2.0	1415	$1,895	$1.34	14d	1	0.62mi
2240 Kenwood Dr Lexington, KY	3.0	2.0	1264	$1,795	$1.42	14d	1	0.78mi
2116 Saint Teresa Dr Lexington, KY	3.0	1.0	999	$1,900	$1.90	24d	1	0.79mi
2334 Lake Park Rd Lexington, KY	1.0–2.0	1.0–2.0	837	$1,448	$1.73	14d	7	0.87mi
2052 Saint Christopher Dr Lexington, KY	4.0	2.0	1008	$2,050	$2.03	14d	1	0.92mi
2041 Saint Michael Dr Unit 5 Lexington, KY	2.0	1.0	900	$1,250	$1.39	24d	1	0.93mi
175 N Locust Hill Dr Lexington, KY	1.0–2.0	1.0–2.0	700	$1,170	$1.67	14d	11	0.95mi
151 S Locust Hill Dr Lexington, KY	1.0–2.0	1.0–2.0	761	$1,348	$1.77	14d	19	0.96mi
2561 Mackenzie Ln Lexington, KY	2.0	2.5	1250	$1,395	$1.12	14d	1	0.96mi
2414 Lake Park Rd Lexington, KY	1.0–3.0	1.0–2.0	1123	$2,200	$1.96	22d	3	0.98mi
2414 Lake Park Rd Lexington, KY	2.0–3.0	2.0	1352	$2,200	$1.63	14d	2	0.98mi
2021 Saint Christopher Dr Lexington, KY	3.0	1.0	1025	$2,100	$2.05	14d	1	0.99mi
2548 Danielle Ln Lexington, KY	2.0	2.0	1050	$1,200	$1.14	14d	1	1.00mi
2543 Danielle Ln Lexington, KY	3.0	2.0	1400	$1,600	$1.14	24d	1	1.02mi
409 Darby Creek Rd Unit Z1 Lexington, KY	2.0	1.5	1144	$1,299	$1.14	24d	1	1.04mi
365 Darby Creek Rd Lexington, KY	2.0	1.5	1200	$1,299	$1.08	24d	1	1.05mi
251 Chippendale Cir Lexington, KY	1.0–2.0	1.0–2.0	842	$1,450	$1.72	14d	12	1.06mi
805 Mickey Ln Lexington, KY	2.0	2.5	1458	$1,550	$1.06	24d	1	1.15mi
100 Lakeshore Dr Lexington, KY	1.0–3.0	1.0–2.0	925	$1,560	$1.69	14d	14	1.19mi
408 Bainbridge Ct Unit 408-9 Lexington, KY	2.0	1.5	1000	$1,295	$1.29	24d	1	1.24mi
2082 Fairmont Ct Lexington, KY	2.0	1.5	900	$925	$1.03	24d	1	1.24mi
3050 Helmsdale Pl Lexington, KY	1.0–3.0	1.0–2.0	1016	$1,741	$1.71	24d	1	1.28mi
2498 Aristocracy Cir Lexington, KY	1.0–2.0	1.5–3.0	1360	$2,127	$1.56	14d	25	1.29mi
531 Laketower Dr Unit 502 Lexington, KY	2.0	2.0	1457	$5,499	$3.77	24d	1	1.32mi
531 Laketower Dr Unit 519 Lexington, KY	2.0	2.0	1441	$4,599	$3.19	24d	1	1.32mi
531 Laketower Dr Unit 522 Lexington, KY	2.0	2.0	1367	$5,699	$4.17	24d	1	1.32mi
531 Laketower Dr Unit 418 Lexington, KY	2.0	2.0	1175	$3,799	$3.23	24d	1	1.32mi
531 Laketower Dr Unit 308 Lexington, KY	2.0	2.0	1326	$3,699	$2.79	24d	1	1.32mi
531 Laketower Dr Unit 314 Lexington, KY	2.0	2.0	1147	$2,999	$2.61	14d	1	1.32mi

Listing history 25 events

1. 2026-06-18
   days on market $220,000 Active 27 DOM
2. 2026-06-17
   days on market $220,000 Active 26 DOM
3. 2026-06-16
   days on market $220,000 Active 25 DOM
4. 2026-06-15
   days on market $220,000 Active 24 DOM
5. 2026-06-14
   days on market $220,000 Active 22 DOM
6. 2026-06-13
   days on market $220,000 Active 21 DOM
7. 2026-06-10
   days on market $220,000 Active 19 DOM
8. 2026-06-09
   days on market $220,000 Active 18 DOM
9. 2026-06-08
   days on market $220,000 Active 17 DOM
10. 2026-06-07
    days on market $220,000 Active 16 DOM
11. 2026-06-05
    days on market $220,000 Active 13 DOM
12. 2026-06-03
    days on market $220,000 Active 12 DOM
13. 2026-06-02
    days on market $220,000 Active 11 DOM
14. 2026-06-01
    days on market $220,000 Active 10 DOM
15. 2026-05-31
    days on market $220,000 Active 9 DOM
16. 2026-05-31
    days on market $220,000 Active 8 DOM
17. 2026-05-22
    listed $220,000 Active
18. 2025-05-18
    historical
19. 2025-05-13
    listed $212,000 Active
20. 2023-12-11
    soldstatus $180,000
21. 2023-12-07
    soldstatus $180,000 Closed 214-char remark

    Show marketing remark (214 chars)

    Charming Woodhill property with three bedrooms. Super size backyard for those outdoor activities. Newer soffit, kitchen bath flooring and doors. Cabinets have been replaced. All hardwood floors have been redone.

22. 2023-11-15
    status Pending 214-char remark

    Show marketing remark (214 chars)

    Charming Woodhill property with three bedrooms. Super size backyard for those outdoor activities. Newer soffit, kitchen bath flooring and doors. Cabinets have been replaced. All hardwood floors have been redone.

23. 2023-11-07
    price $179,900 214-char remark

    Show marketing remark (214 chars)

    Charming Woodhill property with three bedrooms. Super size backyard for those outdoor activities. Newer soffit, kitchen bath flooring and doors. Cabinets have been replaced. All hardwood floors have been redone.

24. 2023-11-01
    listed $189,900 Active 214-char remark

    Show marketing remark (214 chars)

    Charming Woodhill property with three bedrooms. Super size backyard for those outdoor activities. Newer soffit, kitchen bath flooring and doors. Cabinets have been replaced. All hardwood floors have been redone.

25. 2023-07-20
    soldstatus $99,960

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $1,892 · $158/mo
• Expected delta: +$1,108/yr (+$92/mo · 141.4%)

ⓘ 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,555
• − Mortgage interest: −$12,323
• − Property taxes: −$784
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$6,400
• Taxable loss: −$3,341
• Est. tax savings @ 24.0%: +$802
• After-tax cash flow: $1,312/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): 47,036
• Household income: $94,804
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1763.0

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 (67%)
• Race & ethnicity: White 67% Black 14% Two or more races 8% Asian 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 84% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -58.72%
• Current HPI: 226.8663
• Rent YoY: ▲ 2.22%
• 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

+120.1% since first listed

9 events — show timeline

• 2026-05-22 Listed $220,000 ImagineMLS
• 2025-05-18 Listing Removed — ImagineMLS
• 2025-05-13 Listed $212,000 ImagineMLS
• 2023-12-11 Sold (Public Records) $180,000 Public Records
• 2023-12-07 Sold (MLS) $180,000 ImagineMLS
• 2023-11-15 Pending — ImagineMLS
• 2023-11-07 Price Changed $179,900 ImagineMLS
• 2023-11-01 Listed $189,900 ImagineMLS
• 2023-07-20 Sold (Public Records) $99,960 Public Records

Property tax history

+1.8%/yr

Latest (2015): $784 · +1.8% YoY. Source: county tax records.