2012 Bank St · Louisville, KY 40203

$61,000

2 bd · 1.0 ba · 1,104 sqft · SingleFamily · 13 Days on market

Built 1900 3,276 sqft lot Est $73k · 16% 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 +30.0/30.0
• ARV discount +14.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors! This 2 bedroom, 1 bath home located in the Portland neighborhood is ready for renovations and your vision to bring it back to life. The home has off street parking in the back yard. The exterior has charming millwork and trim. Inside you will find original hardwood flooring and a decorative fireplace as well as solid wood doors. The front doors have a transom providing additional character. The home offers easy access to I-64 for a quick commute and is just minutes from the downtown area. Schedule a showing today!

Key facts

• Decorative fireplace
• Off street parking
• Transom

Tags

• OFF STREET PARKING
• ORIGINAL HARDWOOD FLOORING
• DECORATIVE FIREPLACE
• SOLID WOOD DOORS
• TRANSOM

Property features AI

Finance

• Other: Lot measures approximately 26 x 126; Lot area about 0.08 acres; Located in the Portland subdivision
• HOA & community: No association fee

Exterior

• Parking: No dedicated parking
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; Shotgun-style architecture; One story; Entry and main living areas on the first floor
• Construction: Built in 1900; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Sidewalks

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One bedroom located on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Two fireplaces; Three total rooms (four counted elsewhere); One closet; No basement; First-floor primary bedroom
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $61k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $61k).
• Cap rate 15.2% 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 (+3.7%/yr); 114 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 41% of the median local income ($31k/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 $422 of loan paydown is wiped out by about $2k 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 + 3.7% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,000

Questions for the listing agent

1. Built in 1900 — 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. 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: 1.74% ✓
• Cap rate: 15.24%
• Cash-on-cash: 31.95%
• DSCR: 2.42
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $72,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1922 Bank St	0.08mi	2/1.0	1,020 (-8%)	3mo	$110,950	$109	81
1729 Portland Ave	0.28mi	2/1.0	1,072 (-3%)	2mo	$68,900	$64	81
1814 Rowan St	0.37mi	2/1.0	1,038 (-6%)	1mo	$30,200	$29	72
1617 Bank St	0.43mi	3/1.0 (+1)	1,145 (+4%)	2mo	$120,000	$105	67
2419 Montgomery St	0.51mi	3/1.0 (+1)	1,092 (-1%)	4mo	$92,000	$84	66
365 N 27th St	0.60mi	2/1.0	1,093 (-1%)	6mo	$95,000	$87	65
212 N 20th St	0.28mi	2/1.0	987 (-11%)	7mo	$64,500	$65	64
2321 W Market St	0.56mi	3/1.0 (+1)	1,138 (+3%)	1mo	$110,000	$97	63
427 N 28th St	0.68mi	2/1.0	1,166 (+6%)	3mo	$70,000	$60	56
2511 Bank St	0.39mi	2/1.0	960 (-13%)	6mo	$10,000	$10	55
363 N 27th St	0.60mi	2/1.0	972 (-12%)	6mo	$36,500	$38	47
2722 Slevin St	0.71mi	2/1.0	984 (-11%)	5mo	$65,000	$66	44

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 · 3.73% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.16×
• Total profit: $19,853
• Equity at exit: $9,095

10-year hold

• IRR: 35.6%
• Equity multiple: 4.38×
• Total profit: $57,808
• Equity at exit: $5,274

Cash invested: $17,080 (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 40203

• Home prices YoY: -13.8%
• Rents YoY: 3.7%
• Active inventory: 114
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$320
• Tax from tax record: −$36 /mo · $434/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $455

Break-even live

Break-even rent $483

Max offer price $61,000

Occupancy floor 52%

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: $15,250
• Closing costs: $1,830
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	3d	1	0.09mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	0.16mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	17d	1	0.23mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	23d	1	0.31mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	3d	4	0.32mi
500 N 17th St Unit 305 Louisville, KY	1.0	1.0	825	$1,100	$1.33	23d	1	0.34mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	16d	1	0.34mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	23d	1	0.34mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	16d	1	0.34mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	0.34mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	3d	1	0.36mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	3d	1	0.38mi
214 N 17th St Unit 2 Louisville, KY	1.0	1.0	800	$750	$0.94	14d	1	0.39mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	23d	1	0.40mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	23d	1	0.40mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	23d	1	0.42mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	23d	1	0.46mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	23d	1	0.48mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	23d	1	0.58mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	3d	4	0.59mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	23d	1	0.60mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.60mi
1622 W Market St Apt 104 Louisville, KY	1.0	1.5	771	$965	$1.25	23d	1	0.61mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	23d	1	0.62mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	23d	1	0.79mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	16d	1	0.80mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	3d	1	0.81mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.81mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	23d	1	0.84mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	21d	1	0.84mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	23d	1	0.86mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	0.87mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	23d	1	0.88mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	23d	1	0.89mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	17d	1	0.91mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	12d	1	0.94mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	0.99mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	23d	1	0.99mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	1.01mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	23d	1	1.01mi

Listing history 10 events

1. 2026-06-18
   days on market $61,000 Active 13 DOM
2. 2026-06-17
   days on market $61,000 Active 12 DOM
3. 2026-06-16
   days on market $61,000 Active 11 DOM
4. 2026-06-15
   days on market $61,000 Active 10 DOM
5. 2026-06-13
   days on market $61,000 Active 8 DOM
6. 2026-06-10
   days on market $61,000 Active 5 DOM
7. 2026-06-09
   days on market $61,000 Active 4 DOM
8. 2026-06-08
   days on market $61,000 Active 3 DOM
9. 2026-06-07
   remarks 540-char remark
10. 2026-06-07
    listed $61,000 Active 2 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: $434 · $36/mo
• Projected year-2 tax: $525 · $44/mo
• Expected delta: +$91/yr (+$8/mo · 20.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,702
• − Mortgage interest: −$3,417
• − Property taxes: −$434
• − Insurance: −$305
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,775
• Taxable income: $4,739
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $4,320/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): 17,742
• Household income: $30,794
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 1603.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 49% White 44% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -64.74%
• Current HPI: 405.1872
• Rent YoY: ▲ 3.73%
• 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

+110.3% since first listed

3 events — show timeline

• 2026-06-05 Listed $61,000 Metro Search MLS
• 2011-08-18 Listing Removed — Metro Search MLS
• 2011-05-18 Listed $29,000 Metro Search MLS

Property tax history

+4.3%/yr

Latest (2025): $434 · -1.9% YoY. Source: county tax records.