667 S 35th St · Louisville, KY 40211

$74,000

2 bd · 1.0 ba · 1,849 sqft · SingleFamily · 7 Days on market

Built 1910 4,791 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property being sold as is. Seller is extremely motivated and will consider all reasonable offers

Key facts

• 4,791 sq ft lot
• Built 1910
• Listed 7 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas fuel
• Home design: Single-family residence; Bungalow style; 2 stories; Built in 1910
• Construction: Wood frame construction; Shingle roof; Below-grade unfinished area
• Exterior features: Partial chain-link fence; Electric fencing

Interior

• Kitchen: Kitchen on the first floor; Dining room on the first floor
• Bedrooms: 2 bedrooms total; Primary bedroom on the first floor; Additional bedrooms on the second floor (some without closet)
• Bathrooms: One full bathroom on the first floor
• Interior features: Unfinished basement; Total of 7 rooms
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Cap rate 13.9% 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); 140 active listings in the ZIP; 18 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).
• At $1,234/mo this rent would consume 47% 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 $512 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 + 4.9% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 16y 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 $16k; list at $74k implies a 362% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $74,000

Questions for the listing agent

1. Built in 1910 — 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: 1.67% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.16%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $149,769
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3615 Herman St	0.60mi	2/2.5	1,897 (+3%)	3mo	$102,000	$54	59
714 Dearborn Ave	0.26mi	3/2.0 (+1)	1,631 (-12%)	1mo	$110,000	$67	59
636 S 40th St	0.50mi	3/1.0 (+1)	1,735 (-6%)	7mo	$140,000	$81	55
3428 Del Park Ter	0.16mi	3/2.0 (+1)	1,642 (-11%)	12mo	$158,200	$96	54
913 S 42nd St	0.74mi	3/2.0 (+1)	1,849 (0%)	2mo	$230,000	$124	54
816 Dearborn Ave	0.35mi	3/2.0 (+1)	1,628 (-12%)	2mo	$63,500	$39	53
735 S 39th St	0.38mi	3/2.5 (+1)	1,989 (+8%)	10mo	$76,001	$38	51
1002 S 40th St	0.63mi	3/2.5 (+1)	1,760 (-5%)	10mo	$180,000	$102	44
307 S 38th St	0.64mi	3/3.0 (+1)	1,822 (-2%)	13mo	$190,000	$104	44
620 S 40th St	0.51mi	2/1.5	1,584 (-14%)	12mo	$110,000	$69	41
309 S 41st St	0.75mi	3/2.0 (+1)	1,675 (-9%)	2mo	$102,000	$61	39
681 S 42nd St	0.68mi	3/1.5 (+1)	1,593 (-14%)	11mo	$164,500	$103	30

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: 23.2%
• Equity multiple: 1.98×
• Total profit: $20,261
• Equity at exit: $11,034

10-year hold

• IRR: 32.3%
• Equity multiple: 4.20×
• Total profit: $66,251
• Equity at exit: $6,398

Cash invested: $20,720 (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: 140
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,234 high
• Mortgage (P&I): −$388
• Tax from tax record: −$87 /mo · $1,042/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $469

Break-even live

Break-even rent $640

Max offer price $74,000

Occupancy floor 57%

Sensitivity live

Price	-10% $511	-5% $490	+0% $469	+5% $448	+10% $427
Rent	-10% $372	-5% $420	+0% $469	+5% $518	+10% $566
Rate	-1.0pp $506	-0.5pp $488	base $469	+0.5pp $450	+1.0pp $430

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	0.22mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	16d	1	0.40mi
3922 River Park Dr Louisville, KY	2.0	2.0	1800	$1,195	$0.66	12d	1	0.49mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	19d	1	0.60mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	21d	1	0.66mi
4020 Larkwood Ave Louisville, KY	1.0	1.0	1446	$785	$0.54	24d	1	0.67mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	0.74mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	24d	1	0.74mi
663 S 43rd St Louisville, KY	2.0	2.0	1736	$1,250	$0.72	24d	1	0.74mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	0.75mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	0.77mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	24d	1	0.77mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	3d	1	0.98mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	3d	1	1.01mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	24d	1	1.05mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	1.17mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	24d	1	1.18mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	1.37mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $74,000 Pending 7 DOM
2. 2026-06-10
   days on market $74,000 Active 6 DOM
3. 2026-06-09
   days on market $74,000 Active 5 DOM
4. 2026-06-08
   days on market $74,000 Active 4 DOM
5. 2026-06-07
   remarks 467-char remark
6. 2026-06-07
   listed $74,000 Active 3 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: $1,042 · $87/mo
• Projected year-2 tax: $1,042 · $87/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,806
• − Mortgage interest: −$4,145
• − Property taxes: −$1,042
• − Insurance: −$370
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$2,153
• Taxable income: $4,727
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $4,494/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

+271.9% since first listed

13 events — show timeline

• 2026-06-04 Listed $74,000 Metro Search MLS
• 2016-02-05 Listing Removed — Metro Search MLS
• 2016-02-03 Sold (MLS) $16,000 HKARMLS
• 2016-02-03 Sold (MLS) $16,000 Metro Search MLS
• 2016-01-15 Pending — Metro Search MLS
• 2016-01-12 Relisted — Metro Search MLS
• 2016-01-04 Pending — Metro Search MLS
• 2015-08-21 Listed $29,900 Metro Search MLS
• 2015-08-21 Price Changed $19,000 Metro Search MLS
• 2015-08-21 Price Changed $17,000 Metro Search MLS
• 2015-08-20 Listed $17,000 HKARMLS
• 2011-03-04 Sold (MLS) $14,000 Metro Search MLS
• 2010-12-19 Listed $19,900 Metro Search MLS

Property tax history

+7.2%/yr

Latest (2025): $1,042 · -1.9% YoY. Source: county tax records.