11403 Kendrick Dr · Louisville/Jefferson County metro government (balance), KY 40241

$275,000

4 bd · 2.0 ba · 2,068 sqft · SingleFamily · 4 Days on market

Built 1975 9,923 sqft lot Est $368k · 25% under

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Why this score? — see what drove the C- 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.0/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Jefferson Oldham county line, Located on a Cul De Sac with a large fenced backyard with 2,034 total Sqft in this beautiful bi-level home in the 40241 zip, Freshly updated and move in ready home. This spacious home has 4 bedrooms, 2 full baths, a large laundry, The Kitchen appliances stay too. A newer Deck and Patio door, Newer windows in the lower level . This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price. Come see what this home has to offer, all for under 295k!

Key facts

• Deck
• Cul-de-sac
• Fenced backyard

Tags

• FENCED BACKYARD
• DECK
• CUL-DE-SAC
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (10.1% below list).
• Recommended offer: $247k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Chancey Elementary (math 12% / reading 32%, grade F, #525 of 676 statewide, top 82%, 553 students, 55% FRL); Kammerer Middle (math 21% / reading 42%, grade F, #125 of 217 statewide, top 63%, 720 students, 52% FRL); Ballard High (math 42% / reading 46%, grade F, #27 of 254 statewide, top 10%, 2,014 students, 34% FRL).
• Market conditions: Rents rising (+3.1%/yr); 113 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 32% of the median local income ($94k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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

• 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 $247,153 (10.1% below list)

Questions for the listing agent

1. Built in 1975 — 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. 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.
4. 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.
5. 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: 0.90% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $368,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11403 Kendrick Dr	0.00mi	4/2.0	2,068 (0%)	1mo	$290,000	$140	99
11201 Deham Dr	0.18mi	4/2.0	1,917 (-7%)	13mo	$316,505	$165	69
5204 Baywood Dr	0.32mi	4/2.0	1,920 (-7%)	8mo	$287,000	$149	67
4705 Sunny Meadow Ct	0.68mi	4/2.5	2,054 (-1%)	10mo	$365,000	$178	57
4643 Oak Pointe Dr	0.52mi	3/2.0 (-1)	1,858 (-10%)	8mo	$337,000	$181	47
9609 Applewood Ct	0.71mi	3/3.5 (-1)	2,166 (+5%)	2mo	$415,000	$192	46
9326 Plumwood Pl	0.69mi	4/2.5	1,927 (-7%)	12mo	$235,000	$122	44
9502 Apple Crossing Ct	0.67mi	4/3.0	2,232 (+8%)	14mo	$408,500	$183	40
7305 Autumn Bent Way	0.73mi	4/2.0	1,841 (-11%)	12mo	$286,000	$155	37
5416 Skeffington Way	0.74mi	3/2.5 (-1)	1,781 (-14%)	4mo	$344,000	$193	32
9313 Plumwood Pl	0.72mi	3/2.5 (-1)	1,826 (-12%)	11mo	$310,000	$170	31
4611 Wooded Oak Cir	0.70mi	3/3.0 (-1)	1,770 (-14%)	13mo	$350,000	$198	23

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 · 3.14% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-35,897
• Equity at exit: $41,003

10-year hold

• IRR: -3.7%
• Equity multiple: 0.75×
• Total profit: $-19,146
• Equity at exit: $23,777

Cash invested: $77,000 (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 40241

• Rents YoY: 3.1%
• Active inventory: 113
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,472 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$265 /mo · $3,181/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $131

Break-even live

Break-even rent $2,306

Max offer price $275,000

Occupancy floor 90%

Sensitivity live

Price	-10% $286	-5% $209	+0% $131	+5% $53	+10% $-25
Rent	-10% $-65	-5% $33	+0% $131	+5% $228	+10% $326
Rate	-1.0pp $269	-0.5pp $201	base $131	+0.5pp $59	+1.0pp $-13

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5209 Fisherman Ct Louisville, KY	3.0	1.0	2000	$2,650	$1.32	3d	1	0.28mi
5610 Haunz Ln Louisville, KY	3.0	2.0	1856	$2,275	$1.23	45d	1	0.41mi
4709 Oak Pointe Dr Louisville, KY	3.0	2.0	1755	$2,425	$1.38	4d	1	0.53mi
11116 Oak Bend Ct Louisville, KY	3.0	3.0	2787	$2,600	$0.93	18d	1	0.62mi
10945 Symington Cir Louisville, KY	4.0	2.5	2262	$2,550	$1.13	5d	1	0.62mi
5229 Craigs Creek Dr Louisville, KY	3.0	2.0	2202	$2,500	$1.14	18d	1	0.77mi
4957 Winding Spring Cir Louisville, KY	3.0	2.5	1827	$1,795	$0.98	3d	1	0.89mi
10904 Sweet Water Dr Louisville, KY	3.0	2.0	1680	$1,100	$0.65	19d	1	0.94mi
4007 Emerald Spring Pl Louisville, KY	4.0	3.5	2676	$2,749	$1.03	3d	1	1.08mi
4519 Accomack Dr Louisville, KY	4.0	2.0	1849	$2,325	$1.26	18d	1	1.11mi
4314 Arwine Ct Louisville, KY	3.0	2.5	1640	$2,385	$1.45	4d	1	1.20mi
11403 Tazwell Dr Louisville, KY	3.0	3.0	1740	$2,200	$1.26	18d	1	1.21mi
11353 N Tazwell Dr Louisville, KY	1.0–3.0	1.0–2.5	1366	$1,850	$1.35	3d	29	1.21mi
5001 Middlesex Dr Louisville, KY	3.0	2.5	1894	$2,400	$1.27	16d	1	1.22mi
12105 E Bay Ct Worthington Hills, KY	3.0	2.0	1695	$2,000	$1.18	5d	1	1.24mi
10504 Going Ct Louisville, KY	3.0	2.0	1550	$2,050	$1.32	25d	1	1.31mi
10409 Going Ct Louisville, KY	3.0	2.0	1481	$2,175	$1.47	18d	1	1.32mi
9506 Gerardia Ln Prospect, KY	3.0	2.0	2048	$4,000	$1.95	18d	1	1.34mi
9507 Civic Way Prospect, KY	4.0	3.5	2629	$4,500	$1.71	18d	1	1.35mi
9506 Civic Way Prospect, KY	1.0–3.0	1.0–3.0	1099	$3,095	$2.82	3d	27	1.38mi
6411 Moonseed St Prospect, KY	4.0	3.5	2553	$4,285	$1.68	3d	1	1.43mi
10510 Meeting St Unit 201 Prospect, KY	3.0	2.0	3000	$3,200	$1.07	5d	1	1.45mi

Listing history 17 events

1. 2026-05-22
   soldstatus $290,000 Closed
2. 2026-04-28
   status Pending
3. 2026-04-23
   listed $275,000 Active
4. 2024-09-19
   status Pending 568-char remark

   Show marketing remark (568 chars)

   Welcome to the Jefferson Oldham county line, Located on a Cul De Sac with a large fenced backyard with 2,034 total Sqft in this beautiful bi-level home in the 40241 zip, Freshly updated and move in ready home. This spacious home has 4 bedrooms, 2 full baths, a large laundry, The Kitchen appliances stay too. A newer Deck and Patio door, Newer windows in the lower level . This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price. Come see what this home has to offer, all for under 295k!

5. 2024-08-29
   soldstatus $285,000
6. 2024-08-28
   soldstatus $285,000 Closed 568-char remark

   Show marketing remark (568 chars)

   Welcome to the Jefferson Oldham county line, Located on a Cul De Sac with a large fenced backyard with 2,034 total Sqft in this beautiful bi-level home in the 40241 zip, Freshly updated and move in ready home. This spacious home has 4 bedrooms, 2 full baths, a large laundry, The Kitchen appliances stay too. A newer Deck and Patio door, Newer windows in the lower level . This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price. Come see what this home has to offer, all for under 295k!

7. 2024-07-25
   historical Active Under Contract 568-char remark

   Show marketing remark (568 chars)

   Welcome to the Jefferson Oldham county line, Located on a Cul De Sac with a large fenced backyard with 2,034 total Sqft in this beautiful bi-level home in the 40241 zip, Freshly updated and move in ready home. This spacious home has 4 bedrooms, 2 full baths, a large laundry, The Kitchen appliances stay too. A newer Deck and Patio door, Newer windows in the lower level . This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price. Come see what this home has to offer, all for under 295k!

8. 2024-07-15
   price $294,999 568-char remark

   Show marketing remark (568 chars)

   Welcome to the Jefferson Oldham county line, Located on a Cul De Sac with a large fenced backyard with 2,034 total Sqft in this beautiful bi-level home in the 40241 zip, Freshly updated and move in ready home. This spacious home has 4 bedrooms, 2 full baths, a large laundry, The Kitchen appliances stay too. A newer Deck and Patio door, Newer windows in the lower level . This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price. Come see what this home has to offer, all for under 295k!

9. 2024-07-15
   listed $279,990 Active 568-char remark

   Show marketing remark (568 chars)

   Welcome to the Jefferson Oldham county line, Located on a Cul De Sac with a large fenced backyard with 2,034 total Sqft in this beautiful bi-level home in the 40241 zip, Freshly updated and move in ready home. This spacious home has 4 bedrooms, 2 full baths, a large laundry, The Kitchen appliances stay too. A newer Deck and Patio door, Newer windows in the lower level . This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price. Come see what this home has to offer, all for under 295k!

10. 2020-10-30
    soldstatus $208,000 Closed 468-char remark

    Show marketing remark (468 chars)

    Freshly updated and move in ready home with 4 bedrooms and 2 full baths. Located on a Cul De Sac with a large fenced backyard. The Kitchen was just redone from floor to ceiling and looks marvelous. The Kitchen appliances stay too. A Brand new Deck and Patio door this year, New windows in the lower level this year as well. This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price.

11. 2020-09-25
    status Pending 468-char remark

    Show marketing remark (468 chars)

    Freshly updated and move in ready home with 4 bedrooms and 2 full baths. Located on a Cul De Sac with a large fenced backyard. The Kitchen was just redone from floor to ceiling and looks marvelous. The Kitchen appliances stay too. A Brand new Deck and Patio door this year, New windows in the lower level this year as well. This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price.

12. 2020-09-24
    price $194,900 468-char remark

    Show marketing remark (468 chars)

    Freshly updated and move in ready home with 4 bedrooms and 2 full baths. Located on a Cul De Sac with a large fenced backyard. The Kitchen was just redone from floor to ceiling and looks marvelous. The Kitchen appliances stay too. A Brand new Deck and Patio door this year, New windows in the lower level this year as well. This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price.

13. 2020-09-24
    listed $184,900 Active 468-char remark

    Show marketing remark (468 chars)

    Freshly updated and move in ready home with 4 bedrooms and 2 full baths. Located on a Cul De Sac with a large fenced backyard. The Kitchen was just redone from floor to ceiling and looks marvelous. The Kitchen appliances stay too. A Brand new Deck and Patio door this year, New windows in the lower level this year as well. This home has lots of room for the whole family. There is a Living Room and Two Family Room too. It really is a MUST SEE at this price.

14. 2003-02-24
    soldstatus $120,300
15. 2002-12-27
    listed $116,500
16. 2000-10-13
    soldstatus $95,000
17. 2000-08-22
    listed $97,500

ⓘ 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: $3,181 · $265/mo
• Projected year-2 tax: $3,181 · $265/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 (unshaded) · 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 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,658
• − Mortgage interest: −$15,404
• − Property taxes: −$3,181
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − Depreciation: −$8,000
• Taxable loss: −$3,047
• Est. tax savings @ 24.0%: +$731
• After-tax cash flow: $2,300/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 30,696
• Household income: $94,078
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 748.0

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 White (72%)
• Race & ethnicity: White 72% Black 10% Two or more races 8% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -189.34%
• Current HPI: 226.0049
• Rent YoY: ▲ 3.14%
• 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

+197.4% since first listed

17 events — show timeline

• 2026-05-22 Sold (MLS) $290,000 Metro Search MLS
• 2026-04-28 Pending — Metro Search MLS
• 2026-04-23 Listed $275,000 Metro Search MLS
• 2024-09-19 Pending — Metro Search MLS
• 2024-08-29 Sold (Public Records) $285,000 Public Records
• 2024-08-28 Sold (MLS) $285,000 Metro Search MLS
• 2024-07-25 Contingent — Metro Search MLS
• 2024-07-15 Price Changed $294,999 Metro Search MLS
• 2024-07-15 Listed $279,990 Metro Search MLS
• 2020-10-30 Sold (MLS) $208,000 Metro Search MLS
• 2020-09-25 Pending — Metro Search MLS
• 2020-09-24 Listed $184,900 Metro Search MLS
• 2020-09-24 Price Changed $194,900 Metro Search MLS
• 2003-02-24 Sold (MLS) $120,300 Metro Search MLS
• 2002-12-27 Listed $116,500 Metro Search MLS
• 2000-10-13 Sold (MLS) $95,000 Metro Search MLS
• 2000-08-22 Listed $97,500 Metro Search MLS

Property tax history

+7.8%/yr

Latest (2025): $3,181 · +34.4% YoY. Source: county tax records.