214 Valley St · Richmond, KY 40475

$235,000

4 bd · 2.0 ba · 900 sqft · SingleFamily public records · 40 Days on market

9,613 sqft lot $261/sqft · 62% above area Est $290k · 19% under ↓ 2% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

214 Valley Street offers the opportunity to acquire a fully occupied, income-producing, value-add duplex in the heart of Richmond, Kentucky. Located just off the Richmond Bypass near a major retail corridor, the property benefits from strong rental demand and limited multifamily inventory in the area. The property features two 2-bedroom, 1-bath units totaling 4 bedrooms and 2 full baths. Both units include central heat and air, washer/dryer hookups, vinyl windows approximately six years old, and carpet and vinyl flooring throughout. Recent improvements include a new roof in 2023, new eaves in 2026, and driveway repairs completed in 2026. Currently 100% occupied, the property generates appr

Key facts

• Strong rental demand
• Vinyl windows
• Central heat and air

Tags

• INCOME PRODUCING DUPLEX
• STRONG RENTAL DEMAND
• LIMITED MULTIFAMILY INVENTORY
• CENTRAL HEAT AND AIR
• WASHER DRYER HOOKUPS
• VINYL WINDOWS

Property features AI

Finance

• Other: Parcel: R012-0003-0001; Lot size approximately 0.2207 acres
• Financial info: 2 total units (multi-unit property)

Exterior

• Parking: On-site paved parking
• Utilities: Electricity connected; Water connected; Sewer connected
• Home design: Duplex; 2-story
• Construction: 1,800 total building area
• Exterior features: Paved on-site parking; Lot in Ramsey Addition subdivision; Zoned R-2

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Main-level and upper-level washer and dryer hookups; Electric dryer hookup
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer hookup on upper level; Washer hookup on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-306 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (23.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (39.9% below list).
• Recommended offer: $141k (39.9% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.0% in Richmond — 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 69/100 on livability (#163 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Madison County (town): math 31% / reading 47% proficiency, ranked #35 of 165 in KY (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Daniel Boone Elementary School (math 22% / reading 37%, grade F, #393 of 676 statewide, top 63%, 477 students, 57% FRL); B. Michael Caudill Middle School (math 44% / reading 60%, grade C+, #18 of 217 statewide, top 8%, 479 students, 52% FRL); Madison Central High School (math 29% / reading 44%, grade F, #70 of 254 statewide, top 27%, 2,226 students, 47% FRL).
• Market conditions: Rents rising (+2.8%/yr); 502 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 453 units permitted in Madison County in 2024 (64 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.
• Madison County population projected at +28% 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 ($228k) is reasonable based on typical stale-listing flexibility.

Recommended offer $141,210 (39.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.60% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.58%
• DSCR: 0.75
• GRM: 13.9

CMA / ARV

• ARV (median comp): $290,246
• List price: $235,000
• Delta: -19.03%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Highland View St	0.50mi	3/1.5 (-1)	900 (0%)	16mo	$135,010	$150	56

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 · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -26.1%
• Equity multiple: 0.12×
• Total profit: $-57,920
• Equity at exit: $35,039

10-year hold

• IRR: -23.6%
• Equity multiple: -0.17×
• Total profit: $-76,985
• Equity at exit: $20,319

Cash invested: $65,800 (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 40475

• Home prices YoY: -22.7%
• Rents YoY: 2.8%
• Active inventory: 502
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,412 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-306

Break-even live

Break-even rent $1,799

Max offer price $180,965

Occupancy floor —

Sensitivity live

Price	-10% $-173	-5% $-239	+0% $-306	+5% $-372	+10% $-439
Rent	-10% $-417	-5% $-362	+0% $-306	+5% $-250	+10% $-194
Rate	-1.0pp $-188	-0.5pp $-246	base $-306	+0.5pp $-367	+1.0pp $-429

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
633 Big Hill Ave Richmond, KY	1.0–3.0	1.0	775	$1,150	$1.48	45d	1	0.36mi

Listing history 17 events

1. 2026-06-21
   days on market $235,000 Active 40 DOM
2. 2026-06-18
   days on market $235,000 Active 37 DOM
3. 2026-06-17
   days on market $235,000 Active 36 DOM
4. 2026-06-16
   days on market $235,000 Active 35 DOM
5. 2026-06-15
   days on market $235,000 Active 34 DOM
6. 2026-06-14
   days on market $235,000 Active 32 DOM
7. 2026-06-10
   days on market $235,000 Active 29 DOM
8. 2026-06-09
   days on market $235,000 Active 28 DOM
9. 2026-06-08
   days on market $235,000 Active 27 DOM
10. 2026-06-07
    days on market $235,000 Active 26 DOM
11. 2026-06-05
    pricedays on market $235,000 Active 23 DOM
12. 2026-06-03
    days on market $239,900 Active 22 DOM
13. 2026-06-02
    days on market $239,900 Active 21 DOM
14. 2026-06-01
    days on market $239,900 Active 20 DOM
15. 2026-05-31
    days on market $239,900 Active 19 DOM
16. 2026-05-31
    days on market $239,900 Active 18 DOM
17. 2026-05-08
    listed $239,900 Active 1215-char remark

ⓘ 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: $1,094 · $91/mo
• Projected year-2 tax: $2,021 · $168/mo
• Expected delta: +$927/yr (+$77/mo · 84.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $16,945
• − Mortgage interest: −$13,164
• − Property taxes: −$1,094
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$6,836
• Taxable loss: −$8,035
• Est. tax savings @ 24.0%: +$1,928
• After-tax cash flow: $-1,742/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: Madison County
• NCES district ID: 2103720
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $43,590
• Composite: 32.99/100
• National rank: #5580
• State rank: #35 of 165 in KY

Livability — Richmond

• Score: 69/100
• State rank: #163
• US rank: #8196

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, KY
• County: Madison County · 93,568 people
• City population: 65,961
• Metro: Richmond-Berea, KY
• Population (ZIP): 65,961
• Household income: $63,050
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 2031.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 99,241 people
• By 2030: 104,927 · +5.7%
• By 2040: 116,079 · +17.0%
• By 2050: 127,293 · +28.3%
• By 2075: 155,644 · +56.8%
• By 2100: 176,488 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: Solid R (+30.9) · D 33.6% · R 64.5% · Other 1.9%
• 2008→2024 swing: -8.4pp toward R · 2008: -22.4pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.8 2016: R+31.2 2012: R+28.9 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.04%
• Current HPI: 245.8489
• Rent YoY: ▲ 2.82%
• Metro: Richmond-Berea, 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

-2.0% since first listed

2 events — show timeline

• 2026-06-04 Price Changed $235,000 ImagineMLS
• 2026-05-08 Listed $239,900 ImagineMLS

Property tax history

+3.9%/yr

Latest (2025): $1,094 · +45.1% YoY. Source: county tax records.