121 Pandy St · Versailles, KY 40383

$175,000

3 bd · 1.0 ba · 1,107 sqft · Other public records · 53 Days on market

7,013 sqft lot $158/sqft · 26% below area Est $237k · 26% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

Key facts

• 7,013 sq ft lot
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $201 ($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 $167k (4.7% below list).
• Recommended offer: $167k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.3% in Versailles — 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 (#108 in KY, #4,650 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Woodford County (town): math 45% / reading 52% proficiency, ranked #9 of 165 in KY (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 11 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; 102 units permitted in Woodford 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 $5k of value loss. Plan a longer hold.
• Woodford County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $166,803 (4.7% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 5% 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. 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: 0.95% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 8.7

CMA / ARV

• ARV (median comp): $236,730
• List price: $175,000
• Delta: -26.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-15,605
• Equity at exit: $26,093

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,745
• Equity at exit: $15,131

Cash invested: $49,000 (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 40383

• Home prices YoY: -24.6%
• Active inventory: 207
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$918
• Tax from tax record: −$126 /mo · $1,517/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $201

Break-even live

Break-even rent $1,414

Max offer price $175,000

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Camden Ave Versailles, KY	3.0	2.0	1418	$1,800	$1.27	43d	1	0.47mi
105 Big Sink Rd Versailles, KY	2.0	1.0	1052	$1,250	$1.19	13d	1	0.86mi
508 Beech St Versailles, KY	3.0	1.0	1058	$1,395	$1.32	23d	1	1.09mi
184 Charmac Rd Versailles, KY	3.0	2.0	1224	$1,800	$1.47	43d	1	1.12mi
214 Breckinridge Dr Unit 230 Versailles, KY	3.0	2.0	1350	$1,650	$1.22	13d	1	1.14mi
214 Breckinridge Dr Versailles, KY	3.0	2.0	1350	$1,650	$1.22	43d	1	1.14mi
230 Breckinridge Dr Versailles, KY	3.0	2.0	1360	$1,650	$1.21	23d	1	1.17mi
137 Macey Ave Unit 4 Versailles, KY	2.0	2.0	1000	$1,000	$1.00	13d	1	1.27mi
190 Macey Ave Unit 17 Versailles, KY	2.0	1.0	1000	$1,200	$1.20	13d	1	1.40mi
190 Macey Ave Unit 11 Versailles, KY	2.0	1.0	1000	$1,000	$1.00	23d	1	1.40mi
523 Tecumseh Trl Versailles, KY	2.0	1.5	1280	$1,500	$1.17	23d	1	1.42mi

Listing history 18 events

1. 2026-06-10
   status $175,000 Pending 53 DOM
2. 2026-06-09
   days on market $175,000 Contingent 53 DOM
3. 2026-06-08
   days on market $175,000 Contingent 52 DOM
4. 2026-06-07
   days on market $175,000 Contingent 51 DOM
5. 2026-06-03
   days on market $175,000 Contingent 47 DOM
6. 2026-06-02
   days on market $175,000 Contingent 46 DOM
7. 2026-06-01
   days on market $175,000 Contingent 45 DOM
8. 2026-05-31
   days on market $175,000 Contingent 44 DOM
9. 2026-05-31
   days on market $175,000 Contingent 43 DOM
10. 2026-05-11
    historical Contingent 806-char remark

    Show marketing remark (806 chars)

    Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

11. 2026-05-06
    status Active 806-char remark

    Show marketing remark (806 chars)

    Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

12. 2026-03-24
    status Active 806-char remark

    Show marketing remark (806 chars)

    Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

13. 2026-03-18
    historical Contingent 806-char remark

    Show marketing remark (806 chars)

    Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

14. 2026-03-18
    historical 806-char remark

    Show marketing remark (806 chars)

    Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

15. 2026-02-27
    listed $175,000 Active 806-char remark

    Show marketing remark (806 chars)

    Located just off the Versailles Bypass and ideally positioned between Versailles, Midway, and Frankfort, this 3-bedroom, 1-bath ranch offers convenience and potential in one of the area's established neighborhoods. This home features a functional single-level layout and a fully fenced backyard — ideal for outdoor enjoyment no matter the lifestyle. The property presents a great opportunity for those looking to renovate, personalize, or invest. Whether you're looking to bring your vision to life or add value through improvements, this Merewood ranch provides possibilities. Convenient to local amenities, commuter routes, and surrounding communities, this property is ready for someone with vision to make it shine. Being sold as-is inspections welcome. Buyer to verify all aspects of the sale.

16. 2023-03-02
    soldstatus $164,000
17. 2023-02-28
    soldstatus $164,000 21-char remark

    Show marketing remark (21 chars)

    comping purposes only

18. 2023-02-16
    listed $164,000 21-char remark

    Show marketing remark (21 chars)

    comping purposes only

ⓘ 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: $1,517 · $126/mo
• Projected year-2 tax: $1,517 · $126/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,016
• − Mortgage interest: −$9,803
• − Property taxes: −$1,517
• − Insurance: −$875
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$5,091
• Taxable loss: −$472
• Est. tax savings @ 24.0%: +$113
• After-tax cash flow: $2,522/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: Woodford County
• NCES district ID: 2106000
• Math proficiency: 45% ▼ -15.00%
• Reading proficiency: 52% ▼ -14.00%
• Median HH income: $57,392
• Composite: 42.23/100
• National rank: #3281
• State rank: #9 of 165 in KY

Livability — Versailles

• Score: 74/100
• State rank: #108
• US rank: #4650

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Versailles, KY
• County: Woodford County · 24,793 people
• City population: 24,793
• Metro: Lexington-Fayette, KY
• Population (ZIP): 24,793
• Household income: $85,213
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 384.0

Population outlook (Woodford County) Hauer SSP2

• Today (2025): 27,906 people
• By 2030: 28,718 · +2.9%
• By 2040: 29,854 · +7.0%
• By 2050: 30,537 · +9.4%
• By 2075: 32,563 · +16.7%
• By 2100: 32,186 · +15.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% Russian/Polish/Slavic 1%

Political lean MEDSL · Woodford

• 2024 margin: R (+14.3) · D 41.9% · R 56.2% · Other 1.9%
• 2008→2024 swing: +2.8pp toward D · 2008: -17.1pp · 2024: -14.3pp
• All cycles: 2024: R+14.3 2020: R+12.0 2016: R+20.2 2012: R+18.9 2008: R+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.76%
• Current HPI: 241.8129
• Rent YoY: —
• 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

+6.7% since first listed

9 events — show timeline

• 2026-05-11 Contingent — ImagineMLS
• 2026-05-06 Relisted — ImagineMLS
• 2026-03-24 Relisted — ImagineMLS
• 2026-03-18 Contingent — ImagineMLS
• 2026-03-18 Listing Removed — ImagineMLS
• 2026-02-27 Listed $175,000 ImagineMLS
• 2023-03-02 Sold (Public Records) $164,000 Public Records
• 2023-02-28 Sold (MLS) $164,000 ImagineMLS
• 2023-02-16 Listed $164,000 ImagineMLS

Property tax history

+4.1%/yr

Latest (2025): $1,517 · -5.3% YoY. Source: county tax records.