339 N 28th St · Louisville, KY 40212

$117,500

1 bd · 1.0 ba · 960 sqft · SingleFamily · 3 Days on market

Built 1900 ↓ 33% since listing

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Why this score? — see what drove the D+ 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 +13.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Check out this beautifully updated home in historic Portland! This charming 2-bedroom gem is perfect for homebuyers or as a turn-key rental. The home features brand-new laminate flooring throughout and has been freshly painted, giving it a clean, modern feel. The bathroom has been stylishly updated, and the entire home boasts new light fixtures. You'll love the kitchen's fresh look with new countertops and kitchen appliances included. For added convenience, a washer and dryer are also provided. Enjoy the privacy of the fenced yard, perfect for relaxing or entertaining. Book your tour today and don't miss out on this move-in-ready opportunity

Key facts

• Cascade walk pad
• Energy efficient
• Built 1900

Tags

• FLOURISHING LANDSCAPING
• CASCADE WALK PAD
• PRIME ENTERTAINMENT SPACE
• ENERGY EFFICIENT
• DUAL ZONE MINI-SPLITS

Property features AI

Finance

• Other: Living area: 960 (square footage value provided)
• Financial info: Financial details not provided
• HOA & community: HOA details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Utilities details not provided
• Home design: Built in 1900; Single-family property (specific stories and entry level not provided)
• Construction: Construction materials not provided; Roof and foundation details not provided
• Exterior features: Located in the Portland neighborhood

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms count not provided
• Flooring: Flooring details not provided
• Bathrooms: Bathroom details not provided
• Heating & cooling: Heating and cooling details not provided
• Interior features: Original 1900s character elements
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $-70 ($-844/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (24.8% below list).
• Recommended offer: $88k (24.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.0% in Louisville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, crime 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.
• Zoned schools: Atkinson Academy (math 8% / reading 12%, grade F, #648 of 676 statewide, top 98%, 327 students, 88% FRL); Westport Middle (math 16% / reading 38%, grade F, #172 of 217 statewide, top 80%, 1,177 students, 55% FRL) — zoned schools average 72% FRL vs 56% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 141 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).

Forward outlook

• In year one you build about $13k of equity ($812 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 + 0.5% 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,409 (24.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $63,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2722 Slevin St	0.04mi	2/1.0 (+1)	984 (+2%)	5mo	$65,000	$66	84
363 N 27th St	0.16mi	2/1.0 (+1)	972 (+1%)	6mo	$36,500	$38	81
2511 Bank St	0.39mi	2/1.0 (+1)	960 (0%)	6mo	$10,000	$10	71
315 N 26th St	0.23mi	1/1.0	878 (-8%)	7mo	$29,000	$33	69
365 N 27th St	0.16mi	2/1.0 (+1)	1,093 (+14%)	6mo	$95,000	$87	59
3304 Bank St	0.51mi	2/1.0 (+1)	1,020 (+6%)	2mo	$131,000	$128	59
2618 Cornwall St	0.54mi	2/1.0 (+1)	1,024 (+7%)	7mo	$85,000	$83	53
216 N 25th St	0.36mi	2/1.0 (+1)	840 (-12%)	6mo	$85,000	$101	52
331 N 23rd St	0.50mi	2/1.0 (+1)	855 (-11%)	4mo	$105,000	$123	50
3226 W Jefferson St	0.74mi	2/1.0 (+1)	920 (-4%)	6mo	$48,000	$52	48
2230 Congress St	0.72mi	1/1.0	856 (-11%)	2mo	$38,500	$45	46
428 N 20th St	0.72mi	2/1.0 (+1)	894 (-7%)	7mo	$46,000	$51	44

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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.74×
• Total profit: $57,340
• Equity at exit: $105,853

10-year hold

• IRR: 19.1%
• Equity multiple: 6.12×
• Total profit: $168,398
• Equity at exit: $228,277

Cash invested: $32,900 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 141
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $884 high
• Mortgage (P&I): −$616
• Tax from tax record: −$37 /mo · $446/yr
• Insurance: −$49
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $-70

Break-even live

Break-even rent $973

Max offer price $105,076

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-37	+0% $-70	+5% $-104	+10% $-137
Rent	-10% $-140	-5% $-105	+0% $-70	+5% $-35	+10% $0
Rate	-1.0pp $-11	-0.5pp $-40	base $-70	+0.5pp $-101	+1.0pp $-132

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	18d	1	0.04mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.11mi
2751 Alford Ave Unit 1 Louisville, KY	1.0	1.0	550	$695	$1.26	0d	1	0.18mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	5d	1	0.21mi
2922 Bank St Unit 2 Louisville, KY	—	1.0	800	$900	$1.12	25d	1	0.30mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$700	$0.78	0d	1	0.32mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	5d	1	0.35mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	18d	1	0.38mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	25d	1	0.39mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	5d	1	0.40mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	25d	1	0.43mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	18d	1	0.43mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	25d	1	0.45mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	19d	1	0.49mi
521 N 33rd St Louisville, KY	1.0	1.0	650	$795	$1.22	25d	1	0.54mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	25d	1	0.63mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.63mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	25d	1	0.63mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	22d	1	0.63mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$820	$0.94	5d	4	0.65mi
519 N 20th St Louisville, KY	1.0	1.0	550	$795	$1.45	25d	1	0.75mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	25d	1	0.78mi
2224 W Jefferson St Unit 2 Louisville, KY	1.0	1.0	700	$800	$1.14	0d	1	0.78mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	25d	1	0.82mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	19d	1	0.84mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	0.87mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	19d	1	0.87mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	19d	1	0.92mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	22d	1	0.94mi
1908 W Market St #2 Louisville, KY	2.0	1.0	850	$900	$1.06	0d	1	0.95mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	25d	1	0.96mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	25d	1	0.96mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	0.96mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	23d	1	0.99mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	0.99mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	18d	1	0.99mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	25d	1	0.99mi
500 N 17th St Unit 305 Louisville, KY	1.0	1.0	825	$1,100	$1.33	25d	1	0.99mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	25d	1	1.01mi
214 N 17th St Unit 2 Louisville, KY	1.0	1.0	800	$750	$0.94	16d	1	1.02mi

Listing history 3 events

1. 2026-06-15
   days on market $117,500 Active 3 DOM
2. 2026-06-13
   remarks 675-char remark
3. 2026-06-13
   listed $117,500 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: $446 · $37/mo
• Projected year-2 tax: $1,010 · $84/mo
• Expected delta: +$565/yr (+$47/mo · 126.6%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% 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: $10,609
• − Mortgage interest: −$6,582
• − Property taxes: −$446
• − Insurance: −$1,385
• − Repairs & maintenance: −$849
• − Management: −$849
• − Depreciation: −$3,418
• Taxable loss: −$2,919
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $-143/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

-32.9% since first listed

9 events — show timeline

• 2026-06-12 Listed $117,500 FSBO.com
• 2025-05-29 Sold (Public Records) $120,000 Public Records
• 2025-05-23 Sold (MLS) $120,000 Metro Search MLS
• 2025-04-11 Contingent — Metro Search MLS
• 2025-03-20 Listed $120,000 Metro Search MLS
• 2024-05-27 Listing Removed — Metro Search MLS
• 2024-02-13 Price Changed $102,500 Metro Search MLS
• 2024-02-08 Price Changed $131,250 Metro Search MLS
• 2024-01-27 Listed $175,000 Metro Search MLS

Property tax history

+4.6%/yr

Latest (2025): $446 · -1.9% YoY. Source: county tax records.