1847 Bank St · Louisville, KY 40203

$75,000

2 bd · 1.0 ba · 975 sqft · SingleFamily · 91 Days on market

Built 1900 3,006 sqft lot Est $62k · 20% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +3.4/5.0
• 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

Another Investor opportunity - 2 bedrooms, 1 bath

Key facts

• 3,006 sq ft lot
• Built 1900
• Listed 91 days

Property features AI

Finance

• Other: Located in CAMPBELLS WESTERN subdivision; Directions: I64 to 22nd St to Bank St to house
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family shotgun-style residence; One story; Built in 1900
• Construction: Brick construction; Shingle roof; Built in 1900
• Exterior features: Sidewalk access; Level lot; Partial privacy fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms, both on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Four total rooms; Three closets; No basement; No fireplaces; First-floor laundry
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 39% 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 $519 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $62,400
• 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 (+5%)	3mo	$110,950	$109	86
1914 Lytle St	0.07mi	3/1.0 (+1)	930 (-5%)	1mo	$104,000	$112	83
1814 Rowan St	0.26mi	2/1.0	1,038 (+6%)	1mo	$30,200	$29	76
1729 Portland Ave	0.16mi	2/1.0	1,072 (+10%)	2mo	$68,900	$64	75
1707 Baird St	0.20mi	2/1.0	896 (-8%)	3mo	$45,000	$50	75
2511 Bank St	0.54mi	2/1.0	960 (-2%)	6mo	$10,000	$10	67
363 N 27th St	0.75mi	2/1.0	972 (-0%)	6mo	$36,500	$38	60
331 N 23rd St	0.36mi	2/1.0	855 (-12%)	4mo	$105,000	$123	59
2214 Cedar St	0.73mi	2/1.0	886 (-9%)	4mo	$46,000	$52	48
2230 Congress St	0.62mi	1/1.0 (-1)	856 (-12%)	2mo	$38,500	$45	44
216 N 25th St	0.60mi	2/1.0	840 (-14%)	6mo	$85,000	$101	44
2419 Montgomery St	0.64mi	3/1.0 (+1)	1,092 (+12%)	4mo	$92,000	$84	42

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: 10.6%
• Equity multiple: 1.42×
• Total profit: $8,911
• Equity at exit: $11,183

10-year hold

• IRR: 20.3%
• Equity multiple: 2.76×
• Total profit: $36,980
• Equity at exit: $6,485

Cash invested: $21,000 (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 40203

• Home prices YoY: -13.8%
• Rents YoY: 3.7%
• Active inventory: 114
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,002 high
• Mortgage (P&I): −$393
• Tax from tax record: −$48 /mo · $575/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $319

Break-even live

Break-even rent $598

Max offer price $75,000

Occupancy floor 63%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 N 20th St Louisville, KY	1.0	1.0	550	$795	$1.45	23d	1	0.14mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	15d	1	0.17mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	23d	1	0.17mi
500 N 17th St Unit 305 Louisville, KY	1.0	1.0	825	$1,100	$1.33	23d	1	0.17mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	0.22mi
214 N 17th St Unit 2 Louisville, KY	1.0	1.0	800	$750	$0.94	14d	1	0.24mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	23d	1	0.28mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	23d	1	0.29mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	16d	1	0.37mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	3d	4	0.39mi
1622 W Market St Apt 104 Louisville, KY	1.0	1.5	771	$965	$1.25	23d	1	0.48mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	23d	1	0.49mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	15d	1	0.50mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	23d	1	0.53mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	16d	1	0.54mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	3d	1	0.54mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	3d	1	0.54mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	23d	1	0.61mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	23d	1	0.63mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	3d	1	0.69mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	23d	1	0.69mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	3d	4	0.75mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	15d	1	0.77mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.77mi
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	15d	1	0.84mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	21d	1	0.85mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	23d	1	0.85mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	23d	1	0.90mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.91mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	20d	1	0.91mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	23d	1	0.95mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	21d	1	0.97mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.97mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	16d	1	0.98mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	3d	1	0.98mi
980 W Liberty St Louisville, KY	1.0–3.0	1.0–1.5	1026	$1,198	$1.17	23d	133	1.03mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	1.05mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	23d	1	1.08mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	23d	1	1.08mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	16d	1	1.08mi

Listing history 20 events

1. 2026-06-18
   days on market $75,000 Active 91 DOM
2. 2026-06-17
   days on market $75,000 Active 90 DOM
3. 2026-06-16
   days on market $75,000 Active 89 DOM
4. 2026-06-15
   days on market $75,000 Active 88 DOM
5. 2026-06-13
   days on market $75,000 Active 86 DOM
6. 2026-06-10
   days on market $75,000 Active 83 DOM
7. 2026-06-09
   days on market $75,000 Active 82 DOM
8. 2026-06-08
   days on market $75,000 Active 81 DOM
9. 2026-06-07
   days on market $75,000 Active 80 DOM
10. 2026-06-03
    days on market $75,000 Active 76 DOM
11. 2026-06-02
    days on market $75,000 Active 75 DOM
12. 2026-06-01
    days on market $75,000 Active 74 DOM
13. 2026-05-31
    days on market $75,000 Active 73 DOM
14. 2026-03-19
    listed $75,000 Active
15. 2018-06-15
    soldstatus $979,000
16. 2006-12-15
    soldstatus $58,500
17. 2006-09-07
    historical
18. 2005-09-07
    listed $54,900
19. 2001-07-24
    historical
20. 2001-04-24
    listed $40,000

ⓘ 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: $575 · $48/mo
• Projected year-2 tax: $645 · $54/mo
• Expected delta: +$70/yr (+$6/mo · 12.2%)

ⓘ 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 (unshaded) · 0% 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 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: $12,027
• − Mortgage interest: −$4,201
• − Property taxes: −$575
• − Insurance: −$375
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$2,182
• Taxable income: $2,770
• Est. tax owed @ 24.0%: −$665
• After-tax cash flow: $3,167/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

+87.5% since first listed

7 events — show timeline

• 2026-03-19 Listed $75,000 Metro Search MLS
• 2018-06-15 Sold (Public Records) $979,000 Public Records
• 2006-12-15 Sold (Public Records) $58,500 Public Records
• 2006-09-07 Listing Removed — Metro Search MLS
• 2005-09-07 Listed $54,900 Metro Search MLS
• 2001-07-24 Listing Removed — Metro Search MLS
• 2001-04-24 Listed $40,000 Metro Search MLS

Property tax history

+0.6%/yr

Latest (2025): $575 · -1.9% YoY. Source: county tax records.