331 Lilleston Ave · Paris, KY 40361

$97,500

2 bd · 1.0 ba · 812 sqft · Other public records · 58 Days on market

Built 1955 4,486 sqft lot $120/sqft · 15% below area Est $115k · 15% 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 +26.6/30.0
• ARV discount +14.2/15.0
• DSCR +9.1/10.0
• 1% rule +5.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 2 bed, 1 bath starter home or investment property now available! Home has a spacious eat in kitchen and a great backyard, large and fenced for privacy and grilling out now that spring has sprung. Showing by appointment only. Seller may also lease property for $1050/month with utilities paid by tenant.

Key facts

• Large and fenced
• Great backyard
• 4,486 sq ft lot

Tags

• SPACIOUS EAT IN KITCHEN
• GREAT BACKYARD
• LARGE AND FENCED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $98k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.0% in Paris — 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 67/100 on livability (#218 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Paris Independent (town): math 13% / reading 29% proficiency, ranked #159 of 165 in KY (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Paris Elementary School (math 17% / reading 27%, grade F, #525 of 676 statewide, top 82%, 307 students, 78% FRL); Paris Middle School (math 12% / reading 32%, grade F, #203 of 217 statewide, top 94%, 146 students, 83% FRL); Paris High School (math 15% / reading 24%, grade F, #212 of 254 statewide, top 83%, 221 students, 75% FRL).
• Market conditions: 128 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 90 units permitted in Bourbon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $674 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y 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 $35k; list at $98k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,575 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

• ARV (median comp): $114,511
• List price: $97,500
• Delta: -14.86%
• 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: 0.7%
• Equity multiple: 1.03×
• Total profit: $725
• Equity at exit: $14,538

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $21,783
• Equity at exit: $8,430

Cash invested: $27,300 (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 40361

• Home prices YoY: -23.1%
• Active inventory: 128
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$511
• Tax from tax record: −$22 /mo · $262/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $260

Break-even live

Break-even rent $726

Max offer price $97,500

Occupancy floor 70%

Sensitivity live

Price	-10% $315	-5% $288	+0% $260	+5% $233	+10% $205
Rent	-10% $177	-5% $218	+0% $260	+5% $302	+10% $344
Rate	-1.0pp $309	-0.5pp $285	base $260	+0.5pp $235	+1.0pp $209

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: $24,375
• Closing costs: $2,925
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1207 High St Paris, KY	2.0	1.0	846	$950	$1.12	16d	1	0.62mi
552 Vine St Paris, KY	2.0	1.0	900	$750	$0.83	23d	1	0.68mi

Listing history 19 events

1. 2026-05-07
   status Active 308-char remark

   Show marketing remark (308 chars)

   Great 2 bed, 1 bath starter home or investment property now available! Home has a spacious eat in kitchen and a great backyard, large and fenced for privacy and grilling out now that spring has sprung. Showing by appointment only. Seller may also lease property for $1050/month with utilities paid by tenant.

2. 2026-05-01
   status Pending 308-char remark

   Show marketing remark (308 chars)

   Great 2 bed, 1 bath starter home or investment property now available! Home has a spacious eat in kitchen and a great backyard, large and fenced for privacy and grilling out now that spring has sprung. Showing by appointment only. Seller may also lease property for $1050/month with utilities paid by tenant.

3. 2026-04-20
   price $97,500 308-char remark

   Show marketing remark (308 chars)

   Great 2 bed, 1 bath starter home or investment property now available! Home has a spacious eat in kitchen and a great backyard, large and fenced for privacy and grilling out now that spring has sprung. Showing by appointment only. Seller may also lease property for $1050/month with utilities paid by tenant.

4. 2026-03-23
   listed $99,000 Active 308-char remark

   Show marketing remark (308 chars)

   Great 2 bed, 1 bath starter home or investment property now available! Home has a spacious eat in kitchen and a great backyard, large and fenced for privacy and grilling out now that spring has sprung. Showing by appointment only. Seller may also lease property for $1050/month with utilities paid by tenant.

5. 2026-03-13
   historical
6. 2026-03-02
   price $95,000
7. 2026-02-17
   price $99,500
8. 2026-02-06
   price $105,000
9. 2025-12-10
   listed $109,000 Active
10. 2014-05-21
    historical
11. 2014-03-28
    listed $38,000
12. 2009-12-18
    historical
13. 2009-06-18
    listed $40,000
14. 2008-11-30
    historical
15. 2007-12-14
    listed $45,000
16. 1999-06-22
    soldstatus $35,000
17. 1999-06-22
    soldstatus $35,000
18. 1999-06-14
    historical
19. 1999-02-23
    listed $40,000

ⓘ 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: $262 · $22/mo
• Projected year-2 tax: $838 · $70/mo
• Expected delta: +$577/yr (+$48/mo · 220.2%)

ⓘ 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 2/10 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,667
• − Mortgage interest: −$5,462
• − Property taxes: −$262
• − Insurance: −$488
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$2,836
• Taxable income: $1,593
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $2,740/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: Paris Independent
• NCES district ID: 2104710
• Math proficiency: 13% ▼ -17.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $34,822
• Composite: 17.23/100
• National rank: #9096
• State rank: #159 of 165 in KY

Livability — Paris

• Score: 67/100
• State rank: #218
• US rank: #10589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, KY
• County: Bourbon County · 18,361 people
• City population: 18,361
• Metro: Lexington-Fayette, KY
• Population (ZIP): 18,361
• Household income: $63,333
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 509.0

Population outlook (Bourbon County) Hauer SSP2

• Today (2025): 20,485 people
• By 2030: 20,559 · +0.4%
• By 2040: 20,491 · +0.0%
• By 2050: 20,065 · -2.1%
• By 2075: 19,173 · -6.4%
• By 2100: 16,646 · -18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Slovak 2% Serbian 2% Iranian 2%
• Foreign-born: 4% · Canada, Dominican Republic
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Bourbon

• 2024 margin: Solid R (+33.5) · D 32.4% · R 65.9% · Other 1.7%
• 2008→2024 swing: -16.3pp toward R · 2008: -17.2pp · 2024: -33.5pp
• All cycles: 2024: R+33.5 2020: R+30.0 2016: R+31.6 2012: R+20.4 2008: R+17.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.90%
• Current HPI: 241.9393
• 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

+143.8% since first listed

19 events — show timeline

• 2026-05-07 Relisted — ImagineMLS
• 2026-05-01 Pending — ImagineMLS
• 2026-04-20 Price Changed $97,500 ImagineMLS
• 2026-03-23 Listed $99,000 ImagineMLS
• 2026-03-13 Listing Removed — ImagineMLS
• 2026-03-02 Price Changed $95,000 ImagineMLS
• 2026-02-17 Price Changed $99,500 ImagineMLS
• 2026-02-06 Price Changed $105,000 ImagineMLS
• 2025-12-10 Listed $109,000 ImagineMLS
• 2014-05-21 Listing Removed — ImagineMLS
• 2014-03-28 Listed $38,000 ImagineMLS
• 2009-12-18 Listing Removed — ImagineMLS
• 2009-06-18 Listed $40,000 ImagineMLS
• 2008-11-30 Listing Removed — ImagineMLS
• 2007-12-14 Listed $45,000 ImagineMLS
• 1999-06-22 Sold (Public Records) $35,000 Public Records
• 1999-06-22 Sold (MLS) $35,000 ImagineMLS
• 1999-06-14 Listing Removed — ImagineMLS
• 1999-02-23 Listed $40,000 ImagineMLS

Property tax history

+3.9%/yr

Latest (2025): $262 · -2.6% YoY. Source: county tax records.