4411 Newport Rd · Louisville/Jefferson County metro government (balance), KY 40218

$409,999

8 bd · 4.0 ba · 3,152 sqft · MultiFamily · 12 Days on market

Built 1971 $21/mo HOA · 2% 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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Completely remodeled 4-plex in a location convenient to Bardstown Rd and a bus stop. Just completed improvements include the following: new roof, new carpeting, fresh paint, counter tops, two new water heaters, and some new plumbing. Turn key situation and ready for tenants. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

Key facts

• Newer roof
• Washer dryer hookups
• 8 parking spots

Tags

• INVESTMENT OPPORTUNITY
• WASHER DRYER HOOKUPS
• NEWER ROOF

Property features AI

Finance

• Other: Tenants pay cable, electric, and gas
• Financial info: Units configured as multi-family with rents reported: 1st level units $1,800 each (2 units), 2nd level units $900 each (2 units)
• HOA & community: Association fee of $250 (association present); Subdivision: Norfolk Estates

Exterior

• Parking: 8 parking spaces (covered parking: no)
• Utilities: Electricity connected; Natural gas available; Owner pays water and sewer; Owner pays trash removal
• Home design: Apartment building; Architectural style: Other; Built in 1971
• Construction: Concrete and brick construction; Composition/Shingle roof; Living/building area reported as 3,152 total
• Exterior features: See remarks

Interior

• Kitchen: Each unit has a kitchen (2 kitchens per level); Ranges provided (2 per level); Refrigerators provided (2 per level)
• Bedrooms: 8 total bedrooms (4 on the 1st level, 4 on the 2nd level)
• Bathrooms: 4 full bathrooms (2 on the 1st level, 2 on the 2nd level); 0 partial bathrooms
• Heating & cooling: Natural gas heating; 4 furnaces; Central air conditioning
• Interior features: Apartment property type; Separate meters for units; No basement
• Laundry & utility: Laundry in each unit (2 laundries per level)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $256/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $410k).
• Cap rate 9.3% 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.
• Market conditions: Rents falling (-3.5%/yr); 100 active listings in the ZIP; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $4,690/mo this rent would consume 96% of the median local household income ($59k/yr) (locally 1590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 23y 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.
• Current owner paid $114k; list at $410k implies a 260% gain — meaningful room to come down on a strong offer.

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 $409,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.69%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-15,086
• Equity at exit: $61,132

10-year hold

• IRR: 2.5%
• Equity multiple: 1.15×
• Total profit: $17,506
• Equity at exit: $35,449

Cash invested: $114,800 (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 40218

• Rents YoY: -3.5%
• Active inventory: 100
• Price-to-rent: 29.1×

Monthly cashflow live

• Estimated rent: $4,690 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$341 /mo · $4,089/yr
• Insurance: −$171
• HOA: −$21
• Vacancy / Maint / Mgmt: −$985
• Net cashflow: $1,022

Break-even live

Break-even rent $3,396

Max offer price $409,999

Occupancy floor 73%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,692
Total (4 units)			$4,690

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: water

Listing history 15 events

1. 2026-06-07
   statusdays on market $409,999 Active 12 DOM
2. 2026-05-04
   status Pending
3. 2026-04-24
   listed $409,999 Active
4. 2015-01-27
   historical 373-char remark

   Show marketing remark (373 chars)

   Completely remodeled 4-plex in a location convenient to Bardstown Rd and a bus stop. Just completed improvements include the following: new roof, new carpeting, fresh paint, counter tops, two new water heaters, and some new plumbing. Turn key situation and ready for tenants. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

5. 2015-01-23
   soldstatus $114,000 373-char remark

   Show marketing remark (373 chars)

   Completely remodeled 4-plex in a location convenient to Bardstown Rd and a bus stop. Just completed improvements include the following: new roof, new carpeting, fresh paint, counter tops, two new water heaters, and some new plumbing. Turn key situation and ready for tenants. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

6. 2014-10-22
   listed $114,900 373-char remark

   Show marketing remark (373 chars)

   Completely remodeled 4-plex in a location convenient to Bardstown Rd and a bus stop. Just completed improvements include the following: new roof, new carpeting, fresh paint, counter tops, two new water heaters, and some new plumbing. Turn key situation and ready for tenants. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

7. 2009-03-31
   historical
8. 2009-01-08
   listed $154,900
9. 2007-09-21
   soldstatus $153,848
10. 2007-09-19
    soldstatus $153,848
11. 2006-10-12
    listed $159,900
12. 2006-01-31
    soldstatus $143,000
13. 2005-12-02
    listed $145,000
14. 2003-12-03
    soldstatus $117,000
15. 2003-08-29
    listed $129,950

ⓘ 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: $4,089 · $341/mo
• Projected year-2 tax: $4,089 · $341/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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,280
• − Mortgage interest: −$22,966
• − Property taxes: −$4,089
• − Insurance: −$2,050
• − Repairs & maintenance: −$4,502
• − Management: −$4,502
• − HOA: −$252
• − Depreciation: −$11,927
• Taxable income: $5,990
• Est. tax owed @ 24.0%: −$1,438
• After-tax cash flow: $10,831/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): 33,736
• Household income: $58,811
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1590.0

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 0.69)
• Race & ethnicity: White 42% Black 32% Hispanic / Latino 17% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Cuban 7%
• Common ancestry: Lithuanian 1% Portuguese 1% Swiss 1%
• Foreign-born: 20% · Canada, India, Jamaica
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% Arabic 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: ▼ -208.23%
• Current HPI: 257.9528
• Rent YoY: ▼ -3.47%
• 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

+215.5% since first listed

14 events — show timeline

• 2026-05-04 Pending — Metro Search MLS
• 2026-04-24 Listed $409,999 Metro Search MLS
• 2015-01-27 Listing Removed — Metro Search MLS
• 2015-01-23 Sold (MLS) $114,000 Metro Search MLS
• 2014-10-22 Listed $114,900 Metro Search MLS
• 2009-03-31 Listing Removed — Metro Search MLS
• 2009-01-08 Listed $154,900 Metro Search MLS
• 2007-09-21 Sold (Public Records) $153,848 Public Records
• 2007-09-19 Sold (MLS) $153,848 Metro Search MLS
• 2006-10-12 Listed $159,900 Metro Search MLS
• 2006-01-31 Sold (MLS) $143,000 Metro Search MLS
• 2005-12-02 Listed $145,000 Metro Search MLS
• 2003-12-03 Sold (MLS) $117,000 Metro Search MLS
• 2003-08-29 Listed $129,950 Metro Search MLS

Property tax history

+8.7%/yr

Latest (2025): $4,089 · +77.2% YoY. Source: county tax records.