2227 Dumesnil St · Louisville, KY 40210

$118,000

2 bd · 2.0 ba · 972 sqft · SingleFamily · 20 Days on market

Built 1900 0.25 ac lot

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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 +17.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Rent growth +4.5/5.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Investor opportunity! This updated 2 bedrooms; 2 full bath home offers an open-concept layout with a spacious kitchen and modern flow throughout the main living areas. Property was taken down to the studs and completely renovated in 2019, giving peace of mind on many major components. Currently tenant occupied with rental income of $1,150/m, (rate below current market rents of $1300/m), making this a great addition to an investment portfolio. Conveniently located with easy access to downtown, expressways, and local amenities. Please allow 48 hr notice for all showings. Actual Sqft to be determined by an appraiser, the amount that is listed is not warranted by Broker/Seller. Agents, please r

Key facts

• Spacious kitchen
• Completely renovated
• Local amenities

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS KITCHEN
• COMPLETELY RENOVATED
• EASY ACCESS TO DOWNTOWN
• LOCAL AMENITIES

Property features AI

Finance

• Other: Subdivision: Merriwether & Davison
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available; One HVAC unit
• Home design: Single-family residence; Shotgun-style architecture; 1 story
• Construction: Built in 1900; Wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Partial fencing; Lot is 0.25 acres

Interior

• Kitchen: Eat-in kitchen on the first floor
• Bedrooms: 2 bedrooms, both on the first floor; Primary bedroom on the first floor
• Bathrooms: 2 full bathrooms, including a primary bathroom on the first floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: One fireplace; Cellar basement; Five rooms total
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/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 $104k (12.1% below list).
• Recommended offer: $104k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 fast (+8.1%/yr); 91 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 35% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($816 loan paydown + $12k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,764 (12.1% below list)

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: 0.88% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $65,124
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2504 Standard Ave	0.39mi	2/1.0	963 (-1%)	7mo	$169,000	$175	70
2307 Woodland Ave	0.24mi	1/1.0 (-1)	940 (-3%)	7mo	$17,000	$18	69
2615 Greenwood Ave	0.44mi	3/1.0 (+1)	988 (+2%)	3mo	$71,000	$72	65
2645 Grand Ave	0.43mi	2/1.0	926 (-5%)	3mo	$62,000	$67	65
2306 Standard Ave	0.36mi	2/1.0	900 (-7%)	4mo	$38,000	$42	63
2130 W Gaulbert Ave	0.62mi	2/1.0	982 (+1%)	3mo	$60,000	$61	63
1320 S 17th St	0.54mi	3/2.0 (+1)	1,003 (+3%)	3mo	$118,000	$118	62
2108 Bolling Ave	0.50mi	3/1.0 (+1)	1,011 (+4%)	7mo	$52,000	$51	56
1712 Saint Louis Ave	0.43mi	2/1.0	1,072 (+10%)	4mo	$45,000	$42	55
848 S 23rd St	0.58mi	3/2.0 (+1)	1,029 (+6%)	6mo	$64,750	$63	53
1601 Prentice St	0.69mi	3/1.0 (+1)	1,009 (+4%)	1mo	$93,999	$93	52
1714 Bolling Ave	0.66mi	3/2.0 (+1)	1,068 (+10%)	4mo	$110,000	$103	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.28×
• Total profit: $75,412
• Equity at exit: $106,304

10-year hold

• IRR: 26.1%
• Equity multiple: 7.99×
• Total profit: $231,106
• Equity at exit: $229,248

Cash invested: $33,040 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 91
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,038 high
• Mortgage (P&I): −$619
• Tax from tax record: −$62 /mo · $747/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $89

Break-even live

Break-even rent $924

Max offer price $118,000

Occupancy floor 86%

Sensitivity live

Price	-10% $156	-5% $123	+0% $89	+5% $56	+10% $23
Rent	-10% $8	-5% $48	+0% $89	+5% $130	+10% $171
Rate	-1.0pp $149	-0.5pp $119	base $89	+0.5pp $59	+1.0pp $28

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	16d	1	0.15mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	24d	1	0.21mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	24d	1	0.28mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	0.37mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	24d	1	0.37mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	3d	1	0.41mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	24d	1	0.41mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	3d	1	0.41mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	3d	1	0.44mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	24d	1	0.45mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.46mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	0.48mi
2513 Date St Unit 2 Louisville, KY	1.0	1.0	700	$745	$1.06	3d	1	0.48mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	24d	1	0.48mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	15d	1	0.52mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	24d	1	0.54mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	0.56mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	0.57mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.57mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	0.58mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	0.60mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	24d	1	0.62mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.64mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	24d	1	0.65mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	24d	1	0.68mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	24d	1	0.72mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	24d	1	0.74mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.75mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	0.75mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	24d	1	0.77mi
2310 W Broadway Unit 1 Louisville, KY	1.0	1.0	1100	$975	$0.89	3d	1	0.83mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	24d	1	0.86mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	24d	1	0.88mi
1816 Gregg Ave Louisville, KY	2.0	2.0	773	$1,100	$1.42	16d	1	0.90mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	24d	1	0.92mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	0.93mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	24d	1	0.93mi
1836 Algonquin Pkwy Unit 2 Louisville, KY	1.0	1.0	600	$650	$1.08	24d	1	0.97mi
1836 Algonquin Pkwy Unit 1 Louisville, KY	1.0	1.0	650	$650	$1.00	15d	1	0.97mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	0.99mi

Listing history 13 events

1. 2026-06-18
   days on market $118,000 Active 20 DOM
2. 2026-06-17
   days on market $118,000 Active 19 DOM
3. 2026-06-16
   days on market $118,000 Active 18 DOM
4. 2026-06-15
   days on market $118,000 Active 17 DOM
5. 2026-06-13
   days on market $118,000 Active 15 DOM
6. 2026-06-10
   days on market $118,000 Active 12 DOM
7. 2026-06-09
   days on market $118,000 Active 11 DOM
8. 2026-06-08
   days on market $118,000 Active 10 DOM
9. 2026-06-07
   days on market $118,000 Active 9 DOM
10. 2026-06-03
    days on market $118,000 Active 5 DOM
11. 2026-06-02
    days on market $118,000 Active 4 DOM
12. 2026-06-01
    days on market $118,000 Active 3 DOM
13. 2026-05-31
    days on market $118,000 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: $747 · $62/mo
• Projected year-2 tax: $1,015 · $85/mo
• Expected delta: +$267/yr (+$22/mo · 35.8%)

ⓘ 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 ≥105°F today · 19 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: $12,452
• − Mortgage interest: −$6,610
• − Property taxes: −$747
• − Insurance: −$590
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$3,433
• Taxable loss: −$921
• Est. tax savings @ 24.0%: +$221
• After-tax cash flow: $1,295/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

+237.1% since first listed

8 events — show timeline

• 2026-05-30 Listed $118,000 Metro Search MLS
• 2024-03-14 Rental Removed $1,195 APPFOLIO
• 2024-01-18 Listed for Rent $1,195 APPFOLIO
• 2021-12-31 Price Changed $995 APPFOLIO
• 2006-10-07 Listing Removed — Metro Search MLS
• 2006-04-07 Listed $30,000 Metro Search MLS
• 2006-03-21 Listing Removed — Metro Search MLS
• 2005-06-21 Listed $35,000 Metro Search MLS

Property tax history

+3.3%/yr

Latest (2025): $747 · -1.9% YoY. Source: county tax records.