4143 Fordson Way · Louisville, KY 40211

$124,900

3 bd · 1.0 ba · 1,089 sqft · SingleFamily · 13 Days on market

Built 1940 5,741 sqft lot Est $93k · 35% over

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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).

• Cash flow +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +5.2/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell and loaded with potential — including what may be original hardwood floors hiding beneath the carpet. Whether you're a savvy investor adding to your rental portfolio or a buyer looking for a place to call home, this 3-bedroom, 1-bath charmer delivers upside and livability in one package. The covered front porch sets a welcoming tone, and the spacious fenced backyard with a storage shed gives you room to spread out. Quick access to I-264 puts downtown and the rest of the city within easy reach, with shopping, dining, and parks close by. This is the kind of property that rewards the buyer who sees the vision. Schedule your showing before someone else does.

Key facts

• Covered front porch
• Storage shed
• 5,741 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• COVERED FRONT PORCH
• SPACIOUS FENCED BACKYARD
• STORAGE SHED
• QUICK ACCESS TO I-264

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected
• Home design: Single family residence; Cape Cod style; Two stories; Built in 1940
• Construction: Aluminum siding and stone exterior; Shingle roof; Concrete block foundation
• Exterior features: Cleared lot; Full chain link fencing

Interior

• Kitchen: Eat-in kitchen on the first floor
• Bedrooms: Three bedrooms total; Primary bedroom on the first floor; Two first-floor bedrooms and one second-floor bedroom
• Bathrooms: One full bathroom on the first floor (primary bathroom)
• Heating & cooling: Heating present; Central air conditioning
• Interior features: Seven total rooms; Four closets; Unfinished basement with additional rooms; No fireplaces
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.6% vs local median 5.0% in Louisville — 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 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 rising fast (+4.9%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $1,276/mo this rent would consume 48% of the median local household income ($32k/yr) (locally 1483% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $124,900

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.02% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.33%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $92,565
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4212 Winnrose Way	0.07mi	3/1.0	1,138 (+4%)	8mo	$145,000	$127	83
4208 Winnrose Way	0.06mi	2/1.5 (-1)	1,113 (+2%)	4mo	$89,999	$81	83
1206 Fairland Pl	0.23mi	3/1.0	999 (-8%)	2mo	$85,000	$85	74
4147 Virginia Ave	0.13mi	3/1.0	947 (-13%)	2mo	$80,200	$85	70
1210 Cecil Ave	0.09mi	4/1.0 (+1)	1,201 (+10%)	5mo	$40,000	$33	70
4413 Sunset Ave	0.39mi	3/1.0	1,039 (-5%)	14mo	$200,000	$192	63
1314 S 36th St	0.51mi	3/1.0	1,017 (-7%)	10mo	$80,000	$79	57
1140 S 42nd St	0.18mi	2/1.5 (-1)	1,218 (+12%)	11mo	$51,000	$42	56
4309 Virginia Ave	0.21mi	3/2.0	1,250 (+15%)	9mo	$185,000	$148	54
4404 Exley Ct	0.27mi	3/1.0	1,252 (+15%)	14mo	$75,000	$60	51
3322 Virginia Ave	0.74mi	3/1.0	1,198 (+10%)	8mo	$180,000	$150	42
3505 Regatta Way	0.62mi	3/1.0	925 (-15%)	10mo	$170,000	$184	38

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,379
• Equity at exit: $18,623

10-year hold

• IRR: 9.7%
• Equity multiple: 1.80×
• Total profit: $28,091
• Equity at exit: $10,799

Cash invested: $34,972 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 144
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$655
• Tax from tax record: −$58 /mo · $701/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $243

Break-even live

Break-even rent $969

Max offer price $124,900

Occupancy floor 76%

Sensitivity live

Price	-10% $313	-5% $278	+0% $243	+5% $207	+10% $172
Rent	-10% $142	-5% $192	+0% $243	+5% $293	+10% $343
Rate	-1.0pp $306	-0.5pp $274	base $243	+0.5pp $210	+1.0pp $177

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	25d	1	0.34mi
4514 Winnrose Way Louisville, KY	3.0	1.5	1064	$1,500	$1.41	3d	1	0.35mi
3611 Regatta Way Louisville, KY	3.0	1.0	1035	$1,450	$1.40	17d	1	0.42mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	22d	1	0.64mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	20d	1	0.65mi
833 S 41st St Louisville, KY	3.0	2.0	786	$1,250	$1.59	25d	1	0.66mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,304	$1.61	3d	1	0.70mi
803 Cecil Ave Louisville, KY	4.0	1.0	1165	$1,449	$1.24	11d	1	0.71mi
1145 Louis Coleman Jr Dr Louisville, KY	2.0	1.0	913	$875	$0.96	25d	1	0.72mi
2016 S 40th St Louisville, KY	2.0	1.0	700	$980	$1.40	17d	1	0.75mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	4d	1	0.77mi
714 S 42nd St Louisville, KY	3.0	1.0	1078	$1,150	$1.07	17d	1	0.79mi
715 S 41st St Unit 1 Louisville, KY	4.0	1.0	1000	$1,295	$1.29	11d	1	0.82mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	25d	1	0.82mi
714 S 40th St #2 Louisville, KY	3.0	1.0	1000	$1,250	$1.25	25d	1	0.83mi
729 S 39th St Unit 1 Louisville, KY	2.0	1.0	800	$800	$1.00	25d	1	0.84mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	22d	1	0.92mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	25d	1	0.92mi
2128 S 40th St Louisville, KY	2.0	1.0	942	$980	$1.04	17d	1	0.98mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	25d	1	0.99mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	22d	1	1.01mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	4d	1	1.05mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	25d	1	1.05mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	25d	1	1.05mi
644 S 40th St Louisville, KY	2.0	1.0	1200	$1,500	$1.25	3d	1	1.06mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	25d	1	1.09mi
648 S 37th St #3 Louisville, KY	2.0	1.0	807	$850	$1.05	25d	1	1.10mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$695	$0.93	25d	1	1.11mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$650	$0.87	4d	1	1.11mi
1622 Beech St Louisville, KY	4.0	1.0	1108	$1,445	$1.30	17d	1	1.12mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	1.12mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	4d	1	1.13mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	25d	1	1.13mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	17d	1	1.15mi
3313 Penway Ave Louisville, KY	4.0	2.0	1142	$1,645	$1.44	25d	1	1.17mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	17d	1	1.19mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	17d	1	1.19mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	21d	1	1.25mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	25d	1	1.25mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	25d	1	1.25mi

Listing history 9 events

1. 2026-06-21
   days on market $124,900 Active 13 DOM
2. 2026-06-18
   days on market $124,900 Active 10 DOM
3. 2026-06-17
   days on market $124,900 Active 9 DOM
4. 2026-06-16
   days on market $124,900 Active 8 DOM
5. 2026-06-15
   days on market $124,900 Active 7 DOM
6. 2026-06-13
   days on market $124,900 Active 5 DOM
7. 2026-06-10
   days on market $124,900 Active 2 DOM
8. 2026-06-08
   remarks 677-char remark
9. 2026-06-08
   listed $124,900 Active 1 DOM

ⓘ 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: $701 · $58/mo
• Projected year-2 tax: $1,074 · $90/mo
• Expected delta: +$373/yr (+$31/mo · 53.2%)

ⓘ 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 (shaded) · 0% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,313
• − Mortgage interest: −$6,996
• − Property taxes: −$701
• − Insurance: −$624
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$3,633
• Taxable income: $908
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,694/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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: Predominantly Black (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

+78.7% since first listed

5 events — show timeline

• 2026-06-08 Listed $124,900 Metro Search MLS
• 2012-10-26 Listing Removed — Metro Search MLS
• 2012-04-26 Listed $55,995 Metro Search MLS
• 2005-12-31 Listing Removed — Metro Search MLS
• 2005-06-22 Listed $69,900 Metro Search MLS

Property tax history

+0.3%/yr

Latest (2025): $701 · -1.9% YoY. Source: county tax records.