117 S Shawnee Ter · Louisville, KY 40212

$189,900

3 bd · 2.0 ba · 2,375 sqft · SingleFamily · 68 Days on market

Built 1927 3,900 sqft lot Est $195k · 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).

• Appreciation +10.0/10.0
• Cash flow +9.5/30.0
• ARV discount +8.6/15.0
• Livability +3.2/5.0
• DSCR +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +1.9/10.0

Listing remarks MLS

INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

Key facts

• Covered front porch
• Fenced yard
• Eat-in kitchen

Tags

• HARDWOOD FLOORS
• EAT-IN KITCHEN
• FINISHED WALKOUT BASEMENT
• COVERED FRONT PORCH
• FENCED YARD

Property features AI

Finance

• Other: Located in the Shawnee subdivision
• HOA & community: No association fee

Exterior

• Parking: Attached 1-car garage
• Utilities: Electricity connected; Natural gas available; One HVAC unit for heating and one for cooling
• Home design: Contemporary single-family home; One story; Built in 1927
• Construction: Vinyl siding, wood frame, and stucco construction; Shingle roof; Poured concrete foundation
• Exterior features: Full chain-link fencing; Lot dimensions approximately 50 x 78

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 3 bedrooms total — 2 on the first floor, 1 on the second floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 6 main rooms; Basement is a walkout, partially finished; No fireplaces
• Laundry & utility: Laundry located in the basement; No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-132 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (30.7% below list).
• Recommended offer: $132k (30.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#333 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools D-.
• Jefferson County (urban): math 19% / reading 35% proficiency, ranked #121 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 140 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 44% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $28k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; list at $190k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,692 (30.7% 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 68 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.69% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $194,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 S 42nd St	0.21mi	3/1.5	2,323 (-2%)	21mo	$144,900	$62	67
111 S 40th St	0.42mi	3/2.5	2,458 (+4%)	8mo	$184,500	$75	66
304 Shawnee Dr	0.26mi	4/2.0 (+1)	2,296 (-3%)	22mo	$170,000	$74	59
318 Glendora Ave	0.30mi	3/3.0	2,536 (+7%)	16mo	$220,000	$87	58
4557 Southwestern Pkwy	0.38mi	3/1.0	2,051 (-14%)	4mo	$145,000	$71	53
321 S 41st St	0.47mi	4/2.0 (+1)	2,440 (+3%)	20mo	$190,000	$78	52
123 S 39th St	0.50mi	4/2.5 (+1)	2,159 (-9%)	6mo	$215,000	$100	49
240 S 42nd St	0.28mi	4/1.0 (+1)	2,136 (-10%)	15mo	$185,000	$87	49
3940 Northwestern Pkwy	0.71mi	3/3.0	2,256 (-5%)	17mo	$195,000	$86	41
4007 Vermont Ave	0.64mi	4/2.5 (+1)	2,052 (-14%)	4mo	$197,500	$96	37
4334 Vermont Ave	0.57mi	3/2.5	2,704 (+14%)	18mo	$208,000	$77	33
4002 Northwestern Pkwy	0.70mi	3/1.0	2,048 (-14%)	18mo	$168,000	$82	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.72×
• Total profit: $91,715
• Equity at exit: $171,077

10-year hold

• IRR: 18.9%
• Equity multiple: 6.09×
• Total profit: $270,689
• Equity at exit: $368,934

Cash invested: $53,172 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-132

Break-even live

Break-even rent $1,484

Max offer price $166,535

Occupancy floor —

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3922 River Park Dr Louisville, KY	2.0	2.0	1800	$1,195	$0.66	11d	1	0.72mi
663 S 43rd St Louisville, KY	2.0	2.0	1736	$1,250	$0.72	23d	1	0.86mi

Listing history 33 events

1. 2026-06-18
   days on market $189,900 Active 68 DOM
2. 2026-06-17
   remarks 493-char remark
3. 2026-06-17
   price $189,900 Active 67 DOM
4. 2026-06-17
   days on market $199,750 Active 67 DOM
5. 2026-06-16
   days on market $199,750 Active 66 DOM
6. 2026-06-15
   days on market $199,750 Active 65 DOM
7. 2026-06-13
   days on market $199,750 Active 63 DOM
8. 2026-06-10
   days on market $199,750 Active 60 DOM
9. 2026-06-09
   days on market $199,750 Active 59 DOM
10. 2026-06-08
    days on market $199,750 Active 58 DOM
11. 2026-06-07
    days on market $199,750 Active 57 DOM
12. 2026-06-03
    days on market $199,750 Active 53 DOM
13. 2026-06-02
    days on market $199,750 Active 52 DOM
14. 2026-06-01
    days on market $199,750 Active 51 DOM
15. 2026-05-31
    days on market $199,750 Active 50 DOM
16. 2026-05-02
    price $199,995
17. 2026-04-12
    listed $218,000 Active
18. 2026-03-23
    historical
19. 2026-01-29
    price $224,999
20. 2025-12-04
    price $229,999
21. 2025-11-21
    price $233,999
22. 2025-10-30
    price $239,999
23. 2025-10-11
    price $244,999
24. 2025-09-18
    listed $249,999 Active
25. 2024-03-20
    soldstatus $93,000
26. 2024-03-18
    soldstatus $93,000 Closed 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

27. 2024-03-11
    status Pending 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

28. 2024-03-05
    historical Active Under Contract 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

29. 2024-01-28
    status Active 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

30. 2024-01-19
    historical Active Under Contract 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

31. 2024-01-12
    price $99,000 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

32. 2024-01-03
    listed $109,900 Active 463-char remark

    Show marketing remark (463 chars)

    INVESTORS OR DIY'ERS----------------You do not want to miss out on this one, 2-3 bedrooms with 2 full baths!! Nice solid home in the Shawnee area with basement and one car attached garage (attached garage does not contain an actual garage door)....home is being sold in as/is condition; Seller will not make any repairs. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please read Agents notes.

33. 2023-11-21
    soldstatus $80,000

ⓘ 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: $1,172 · $98/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$461/yr (+$38/mo · 39.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,803
• − Mortgage interest: −$10,637
• − Property taxes: −$1,172
• − Insurance: −$950
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$5,524
• Taxable loss: −$5,008
• Est. tax savings @ 24.0%: +$1,202
• After-tax cash flow: $-385/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: Jefferson County
• NCES district ID: 2102990
• Math proficiency: 19% ▼ -17.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $47,885
• Composite: 23.45/100
• National rank: #7884
• State rank: #121 of 165 in KY

Livability — Louisville

• Score: 63/100
• State rank: #333
• US rank: #15887

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisville, KY
• County: Jefferson County · 790,184 people
• City population: 769,292
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 823,112 people
• By 2030: 849,343 · +3.2%
• By 2040: 895,696 · +8.8%
• By 2050: 933,630 · +13.4%
• By 2075: 1,028,262 · +24.9%
• By 2100: 1,072,675 · +30.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jefferson

• 2024 margin: D (+16.6) · D 57.4% · R 40.9% · Other 1.7%
• 2008→2024 swing: +4.5pp toward D · 2008: 12.0pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+20.1 2016: D+13.3 2012: D+11.1 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• Metro: Louisville/Jefferson County, KY-IN
• 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

+150.0% since first listed

18 events — show timeline

• 2026-05-02 Price Changed $199,995 Metro Search MLS
• 2026-04-12 Listed $218,000 Metro Search MLS
• 2026-03-23 Listing Removed — Metro Search MLS
• 2026-01-29 Price Changed $224,999 Metro Search MLS
• 2025-12-04 Price Changed $229,999 Metro Search MLS
• 2025-11-21 Price Changed $233,999 Metro Search MLS
• 2025-10-30 Price Changed $239,999 Metro Search MLS
• 2025-10-11 Price Changed $244,999 Metro Search MLS
• 2025-09-18 Listed $249,999 Metro Search MLS
• 2024-03-20 Sold (Public Records) $93,000 Public Records
• 2024-03-18 Sold (MLS) $93,000 Metro Search MLS
• 2024-03-11 Pending — Metro Search MLS
• 2024-03-05 Contingent — Metro Search MLS
• 2024-01-28 Relisted — Metro Search MLS
• 2024-01-19 Contingent — Metro Search MLS
• 2024-01-12 Price Changed $99,000 Metro Search MLS
• 2024-01-03 Listed $109,900 Metro Search MLS
• 2023-11-21 Sold (Public Records) $80,000 Public Records

Property tax history

+15.4%/yr

Latest (2025): $1,172 · +3.2% YoY. Source: county tax records.