8007 Montero Dr Unit F6 · Prospect, KY 40059

$135,000

1 bd · 1.0 ba · 735 sqft · Condo · 1 Days on market

Built 1979 $243/mo HOA · 14% of rent

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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 +22.9/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 8007 Montero Dr #F6, a well-maintained condo in the highly desirable Hunting Creek/Hills community in Prospect. Offering maintenance-free living in one of the area's most sought-after locations, this one-bedroom, one-bath home features an open-concept living area and a functional layout designed for easy everyday living. Enjoy morning coffee or evening relaxation on the covered patio overlooking the peaceful surroundings. Tucked deep within the community, this home is within walking distance of Harrods Creek Park, one of Prospect's hidden gems featuring approximately 109 acres, nearly 4 miles of scenic hiking trails, abundant wildlife, fishing, bird-watching, and the area's only

Key facts

• Private patio
• $243 HOA
• Built 1979

Tags

• PRIVATE PATIO
• HUNTING CREEK COMMUNITY
• SHOPPING DINING PARKS

Property features AI

Finance

• Other: Building has two floors and 24 condo units; Total building area / above-grade finished area reported as 735
• HOA & community: Condo association (monthly maintenance fee applies); Monthly maintenance fee listed (association covers exterior maintenance, groundskeeping, master insurance, snow removal, trash, and water)

Exterior

• Parking: Two assigned parking spaces; No additional parking features listed
• Utilities: Natural gas fuel; Public water and trash included in association maintenance (see HOA); Power and sewer not specifically listed
• Home design: Condominium; Single-story unit located on level 1 of the building; Other architectural style; Located in the Hunting Hills subdivision
• Construction: Built in 1979; Brick construction; Shingle roof; Slab foundation
• Exterior features: Cleared, level lot; No fencing noted

Interior

• Kitchen: Kitchen on the first floor; Separate dining room on the first floor
• Bedrooms: One bedroom located on the first floor (first-floor primary bedroom)
• Bathrooms: One full bathroom located on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Four total rooms; Three closets; No basement; Utilities room on the first floor; No fireplaces
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 8.4% vs local median 2.5% in Prospect — 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 76/100 on livability (#87 in KY, #3,429 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, commute A+; Watch: cost of living D, amenities F, health & safety F.
• 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 (+4.8%/yr); 242 active listings in the ZIP; high-income renter base; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent is only 13% of the median local income ($153k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.81% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-7,667
• Equity at exit: $20,129

10-year hold

• IRR: 6.8%
• Equity multiple: 1.56×
• Total profit: $21,351
• Equity at exit: $11,672

Cash invested: $37,800 (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 40059

• Rents YoY: 4.8%
• Active inventory: 242
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,684 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$243
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $171

Break-even live

Break-even rent $1,467

Max offer price $135,000

Occupancy floor 85%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $243 · $2,916/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-19
   days on marketlisting id $135,000 Active 1 DOM
2. 2026-06-17
   days on market $135,000 Active 5 DOM
3. 2026-06-16
   days on market $135,000 Active 4 DOM
4. 2026-06-15
   days on market $135,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $135,000 Active 1 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: $1,025 · $85/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$136/yr (+$11/mo · 13.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $20,211
• − Mortgage interest: −$7,562
• − Property taxes: −$1,025
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − HOA: −$2,916
• − Depreciation: −$3,927
• Taxable income: $74
• Est. tax owed @ 24.0%: −$18
• After-tax cash flow: $2,040/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 — Prospect

• Score: 76/100
• State rank: #87
• US rank: #3429

Category grades

Amenities F Commute A+ Cost of living D Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prospect, KY
• County: Jefferson County · 790,184 people
• City population: 20,892
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 20,892
• Household income: $152,727
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 255.0

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 (86%)
• Race & ethnicity: White 86% Asian 4% Two or more races 4% Black 4% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Italian 3% Romanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 3% Chinese 1% 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: ▼ -159.22%
• Current HPI: 229.5964
• Rent YoY: ▲ 4.81%
• 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

+107.7% since first listed

3 events — show timeline

• 2026-06-10 Listed $135,000 Metro Search MLS
• 2014-07-09 Listing Removed — Metro Search MLS
• 2014-05-02 Listed $65,000 Metro Search MLS

Property tax history

+6.6%/yr

Latest (2025): $1,025 · -1.9% YoY. Source: county tax records.