220 Tanbark Dr · Georgetown, KY 40324

$249,900

4 bd · 2.5 ba · 1,750 sqft · MultiFamily · 59 Days on market

Built 1999 Good condition 6,926 sqft lot $143/sqft · 37% below area Est $398k · 37% under

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Why this score? — see what drove the B- 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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• 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 MLS

Attention Investors and first time home buyers! 4 Bedroom, 2.5 bath home with 1 car garage and fenced in backyard close to interstate 75 and Toyota Motor Manufacturing. Updates throughout including paint and some flooring. Ideal for multi-generational living- the Main level features primary bedroom with private bath and closet, living room, kitchen, dining area, a 1/2 bath and another bedroom and laundry room. Upstairs you'll find an open loft area, 2 additional bedrooms (one with a bonus room) a full bath. Deck and privacy fenced backyard.

Key facts

• Private bath
• Fenced in backyard
• Deck

Tags

• FENCED IN BACKYARD
• PRIVATE BATH
• OPEN LOFT AREA
• DECK
• PRIVACY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.5% in Georgetown — 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 78/100 on livability (#75 in KY, #2,338 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D, commute F.
• Scott County (town): math 32% / reading 44% proficiency, ranked #31 of 165 in KY (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 441 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 546 units permitted in Scott County in 2024 (98 in 5+ unit buildings).
• This rent runs 41% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Scott County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $190k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 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: 1.17% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $397,713
• List price: $249,900
• Delta: -37.17%
• 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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-3,422
• Equity at exit: $37,261

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $44,879
• Equity at exit: $21,607

Cash invested: $69,972 (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 40324

• Rents YoY: 3.0%
• Active inventory: 441
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,922 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $581

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,922
Total (2 units)			$2,922

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Tanbark Dr Georgetown, KY	3.0	2.5	1500	$1,475	$0.98	43d	1	0.00mi
171 Landry Ln Georgetown, KY	4.0	2.5	1915	$2,400	$1.25	13d	1	0.73mi
203 Jared Parker Way Georgetown, KY	3.0	2.0	1600	$2,200	$1.38	43d	1	0.73mi
111 Juniper Path Unit 3 Bedroom Unit Georgetown, KY	3.0	2.0	1380	$1,699	$1.23	13d	1	0.74mi
134 Landry Ln Georgetown, KY	4.0	2.5	1783	$2,400	$1.35	23d	1	0.75mi
149 Landry Ln Georgetown, KY	4.0	2.5	1700	$2,200	$1.29	44d	1	0.75mi
209 Jared Parker Way Georgetown, KY	4.0	2.5	1700	$2,350	$1.38	21d	1	0.76mi
138 Landry Ln Georgetown, KY	3.0	2.0	1625	$2,400	$1.48	23d	1	0.76mi
103 Tyler Way Georgetown, KY	4.0	2.5	1700	$2,300	$1.35	43d	1	0.76mi
108 Tyler Way Georgetown, KY	4.0	2.5	2450	$2,600	$1.06	44d	1	0.76mi
106 Winners Cir Georgetown, KY	3.0	2.0	1376	$1,900	$1.38	21d	1	0.77mi
218 Jared Parker Way Georgetown, KY	4.0	2.5	1648	$2,250	$1.37	43d	1	0.78mi
222 Jared Parker Way Georgetown, KY	4.0	2.5	2450	$2,650	$1.08	43d	1	0.79mi
111 High Hope Ln Georgetown, KY	4.0	3.0	2046	$2,475	$1.21	13d	1	0.79mi
105 Juniper Path Georgetown, KY	2.0–3.0	2.0	1262	$1,725	$1.37	13d	2	0.79mi
101 Heartwood Path Georgetown, KY	1.0–3.0	1.0–2.0	1100	$1,700	$1.55	13d	1	0.80mi
226 Jared Parker Way Georgetown, KY	4.0	2.5	2450	$2,600	$1.06	43d	1	0.82mi
190 Oxford Landing Dr Georgetown, KY	3.0	2.0	1625	$2,150	$1.32	13d	1	0.83mi
228 Jared Parker Way Georgetown, KY	4.0	2.5	1800	$2,250	$1.25	43d	1	0.83mi
227 Jared Parker Way Georgetown, KY	4.0	2.5	1800	$2,300	$1.28	43d	1	0.83mi
233 Jared Parker Way Georgetown, KY	4.0	2.5	2450	$2,600	$1.06	43d	1	0.85mi

Listing history 21 events

1. 2026-05-14
   status Pending 546-char remark

   Show marketing remark (546 chars)

   Attention Investors and first time home buyers! 4 Bedroom, 2.5 bath home with 1 car garage and fenced in backyard close to interstate 75 and Toyota Motor Manufacturing. Updates throughout including paint and some flooring. Ideal for multi-generational living- the Main level features primary bedroom with private bath and closet, living room, kitchen, dining area, a 1/2 bath and another bedroom and laundry room. Upstairs you'll find an open loft area, 2 additional bedrooms (one with a bonus room) a full bath. Deck and privacy fenced backyard.

2. 2026-04-29
   price $249,900 546-char remark

   Show marketing remark (546 chars)

   Attention Investors and first time home buyers! 4 Bedroom, 2.5 bath home with 1 car garage and fenced in backyard close to interstate 75 and Toyota Motor Manufacturing. Updates throughout including paint and some flooring. Ideal for multi-generational living- the Main level features primary bedroom with private bath and closet, living room, kitchen, dining area, a 1/2 bath and another bedroom and laundry room. Upstairs you'll find an open loft area, 2 additional bedrooms (one with a bonus room) a full bath. Deck and privacy fenced backyard.

3. 2026-04-20
   price $254,900 546-char remark

   Show marketing remark (546 chars)

   Attention Investors and first time home buyers! 4 Bedroom, 2.5 bath home with 1 car garage and fenced in backyard close to interstate 75 and Toyota Motor Manufacturing. Updates throughout including paint and some flooring. Ideal for multi-generational living- the Main level features primary bedroom with private bath and closet, living room, kitchen, dining area, a 1/2 bath and another bedroom and laundry room. Upstairs you'll find an open loft area, 2 additional bedrooms (one with a bonus room) a full bath. Deck and privacy fenced backyard.

4. 2026-03-16
   listed $259,900 Active 546-char remark

   Show marketing remark (546 chars)

   Attention Investors and first time home buyers! 4 Bedroom, 2.5 bath home with 1 car garage and fenced in backyard close to interstate 75 and Toyota Motor Manufacturing. Updates throughout including paint and some flooring. Ideal for multi-generational living- the Main level features primary bedroom with private bath and closet, living room, kitchen, dining area, a 1/2 bath and another bedroom and laundry room. Upstairs you'll find an open loft area, 2 additional bedrooms (one with a bonus room) a full bath. Deck and privacy fenced backyard.

5. 2025-12-31
   price $259,900
6. 2025-11-20
   price $265,000
7. 2025-10-25
   status Active
8. 2025-09-26
   status Active
9. 2025-09-18
   status Pending
10. 2025-09-18
    historical
11. 2025-09-18
    historical
12. 2025-09-15
    listed $274,900 Active
13. 2015-06-22
    historical
14. 2015-03-16
    listed $212,900
15. 2015-01-08
    historical
16. 2014-04-07
    listed $212,900
17. 2014-01-15
    historical
18. 2013-05-06
    listed $213,900
19. 2007-01-26
    soldstatus $189,500
20. 2006-11-20
    historical
21. 2006-08-21
    listed $195,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,064
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,805
• − Management: −$2,805
• − Depreciation: −$7,270
• Taxable income: $3,188
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $6,211/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This multi-family home is in good condition with cosmetic updates, ideal for investors looking to enhance its value through fresh paint and landscaping.

Repairs flagged

• Minor Deck — slight wear
• Minor Fencing — slight wear

Value-add opportunities

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping — Well-maintained landscaping improves curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · slight wear	Minor	$500–3,000
Fencing · slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Scott County
• NCES district ID: 2105260
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 44% ▼ -16.00%
• Median HH income: $61,324
• Composite: 33.87/100
• National rank: #5348
• State rank: #31 of 165 in KY

Livability — Georgetown

• Score: 78/100
• State rank: #75
• US rank: #2338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, KY
• County: Scott County · 53,406 people
• City population: 53,406
• Metro: Lexington-Fayette, KY
• Population (ZIP): 53,406
• Household income: $85,110
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 993.0

Population outlook (Scott County) Hauer SSP2

• Today (2025): 63,814 people
• By 2030: 69,637 · +9.1%
• By 2040: 81,315 · +27.4%
• By 2050: 92,677 · +45.2%
• By 2075: 118,956 · +86.4%
• By 2100: 136,792 · +114.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Serbian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4%

Political lean MEDSL · Scott

• 2024 margin: Strong R (+27.7) · D 35.3% · R 63.0% · Other 1.7%
• 2008→2024 swing: -7.1pp toward R · 2008: -20.6pp · 2024: -27.7pp
• All cycles: 2024: R+27.7 2020: R+24.9 2016: R+30.4 2012: R+25.0 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.49%
• Current HPI: 187.89
• Rent YoY: ▲ 3.00%
• 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

+28.2% since first listed

21 events — show timeline

• 2026-05-14 Pending — ImagineMLS
• 2026-04-29 Price Changed $249,900 ImagineMLS
• 2026-04-20 Price Changed $254,900 ImagineMLS
• 2026-03-16 Listed $259,900 ImagineMLS
• 2025-12-31 Price Changed $259,900 ImagineMLS
• 2025-11-20 Price Changed $265,000 ImagineMLS
• 2025-10-25 Relisted — ImagineMLS
• 2025-09-26 Relisted — ImagineMLS
• 2025-09-18 Pending — ImagineMLS
• 2025-09-18 Listing Removed — ImagineMLS
• 2025-09-18 Listing Removed — ImagineMLS
• 2025-09-15 Listed $274,900 ImagineMLS
• 2015-06-22 Listing Removed — ImagineMLS
• 2015-03-16 Listed $212,900 ImagineMLS
• 2015-01-08 Listing Removed — ImagineMLS
• 2014-04-07 Listed $212,900 ImagineMLS
• 2014-01-15 Listing Removed — ImagineMLS
• 2013-05-06 Listed $213,900 ImagineMLS
• 2007-01-26 Sold (MLS) $189,500 ImagineMLS
• 2006-11-20 Listing Removed — ImagineMLS
• 2006-08-21 Listed $195,000 ImagineMLS