205 Kenoak Dr · Louisville, KY 40214

$1

3 bd · 2.0 ba · 1,538 sqft · SingleFamily · 5 Days on market

Built 1952 5,950 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing Deal! Abundant square footage! 3 Bedroom 2 Full Bath Cape Cod! Welcoming Front Porch entry. Good sized & Updated Eat In Kitchen w/ custom cabinetry & recessed lighting. Large Family Room w/ gas fireplace w/ stone surround & vaulted ceiling. Living Room w/ crown molding. 1st Floor Master Bedroom w/ tray ceiling & attached Master Bath. Another Full Bath & the Laundry Room complete the 1st level. 2nd Floor includes 2 good sized Bedrooms. Back of home w/ screened porch & deck area. 1 car detached garage with attached carport. Great opportunity! Call for your showing!

Key facts

• 5,950 sq ft lot
• Garage
• Built 1952

Property features AI

Finance

• Other: Lot is level with sidewalks; Approximately 0.14-acre lot
• HOA & community: No association fee

Exterior

• Parking: Detached garage (1 car); Driveway access
• Utilities: Electricity connected; Natural gas
• Home design: Cape Cod style; Residential property listed as Auction; Two stories; Entry from the front
• Construction: Built in 1952; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: See remarks

Interior

• Kitchen: Eat-in kitchen on the first floor
• Bedrooms: Three bedrooms total with primary suite on the first floor and two additional bedrooms on the second floor
• Bathrooms: Two full bathrooms including a primary full bathroom on the first floor
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Eight total rooms; Six closets; One fireplace (on first level); No basement
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 1317424.1% 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 (+1.9%/yr); 243 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 30% of the median local income ($55k/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 $0 of loan paydown is wiped out by about $0 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 + 1.9% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

Questions for the listing agent

1. Built in 1952 — 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. 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?
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 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: 138969.00% ✓
• Cap rate: 1317424.12%
• Cash-on-cash: 4705063.67%
• DSCR: 209349.86
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $226,086
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
226 Kenoak Dr	0.14mi	4/1.0 (+1)	1,435 (-7%)	1mo	$223,350	$156	72
5329 Alpine Way	0.35mi	3/1.5	1,560 (+1%)	11mo	$230,000	$147	70
345 Alger Ave	0.25mi	2/2.0 (-1)	1,450 (-6%)	13mo	$200,000	$138	63
330 Kenwood Hill Rd	0.41mi	3/2.0	1,653 (+8%)	11mo	$260,000	$157	59
727 Iroquois Ave	0.50mi	3/1.5	1,473 (-4%)	12mo	$245,000	$166	58
5323 Lone Oak Trl	0.45mi	3/1.5	1,465 (-5%)	15mo	$154,000	$105	56
817 Iroquois Ave	0.51mi	4/2.0 (+1)	1,600 (+4%)	11mo	$264,000	$165	56
701 Orchard Hill Dr	0.44mi	3/1.5	1,391 (-10%)	7mo	$220,000	$158	56
242 Steedly Dr	0.55mi	4/2.0 (+1)	1,412 (-8%)	2mo	$185,001	$131	54
107 Cambridge Dr	0.33mi	2/1.0 (-1)	1,440 (-6%)	14mo	$160,000	$111	53
508 Hill Ridge Rd	0.65mi	3/2.5	1,604 (+4%)	15mo	$225,000	$140	48
517 Auburndale Ave	0.66mi	4/1.0 (+1)	1,463 (-5%)	18mo	$199,000	$136	37

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 · 1.89% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 244315.80×
• Total profit: $68,408
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 512608.34×
• Total profit: $143,530
• Equity at exit: $0

Cash invested: $0 (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 40214

• Rents YoY: 1.9%
• Active inventory: 243

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $1,098

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 Forum Ave Louisville, KY	3.0	1.5	1693	$1,600	$0.95	23d	1	0.74mi
5033 Wabash Pl Louisville, KY	3.0	1.5	1156	$1,350	$1.17	23d	1	1.08mi
5013 Wabash Pl Louisville, KY	3.0	2.0	1080	$1,400	$1.30	23d	1	1.10mi
1507 Arling Ave Louisville, KY	3.0	2.0	1148	$1,275	$1.11	16d	1	1.16mi
4725 Southern Pkwy Unit 1 Louisville, KY	2.0	1.0	1296	$925	$0.71	3d	1	1.19mi
1517 Shingo Ave Louisville, KY	3.0	2.0	1100	$1,349	$1.23	23d	1	1.20mi
7500 Cranfill Way Louisville, KY	2.0	1.5–2.0	1008	$1,198	$1.19	2d	22	1.39mi
4608 S 3rd St Unit 1st Floor Louisville, KY	2.0	1.5	1100	$1,500	$1.36	23d	1	1.42mi

Listing history 6 events

1. 2026-05-09
   status Pending
2. 2026-05-04
   listed $1 Active
3. 2017-01-06
   soldstatus $95,000
4. 2016-12-27
   soldstatus $95,000 Closed 603-char remark

   Show marketing remark (603 chars)

   Amazing Deal! Abundant square footage! 3 Bedroom 2 Full Bath Cape Cod! Welcoming Front Porch entry. Good sized & Updated Eat In Kitchen w/ custom cabinetry & recessed lighting. Large Family Room w/ gas fireplace w/ stone surround & vaulted ceiling. Living Room w/ crown molding. 1st Floor Master Bedroom w/ tray ceiling & attached Master Bath. Another Full Bath & the Laundry Room complete the 1st level. 2nd Floor includes 2 good sized Bedrooms. Back of home w/ screened porch & deck area. 1 car detached garage with attached carport. Great opportunity! Call for your showing!

5. 2016-10-31
   historical Active Under Contract 603-char remark

   Show marketing remark (603 chars)

   Amazing Deal! Abundant square footage! 3 Bedroom 2 Full Bath Cape Cod! Welcoming Front Porch entry. Good sized & Updated Eat In Kitchen w/ custom cabinetry & recessed lighting. Large Family Room w/ gas fireplace w/ stone surround & vaulted ceiling. Living Room w/ crown molding. 1st Floor Master Bedroom w/ tray ceiling & attached Master Bath. Another Full Bath & the Laundry Room complete the 1st level. 2nd Floor includes 2 good sized Bedrooms. Back of home w/ screened porch & deck area. 1 car detached garage with attached carport. Great opportunity! Call for your showing!

6. 2016-10-26
   listed $95,000 Active 603-char remark

   Show marketing remark (603 chars)

   Amazing Deal! Abundant square footage! 3 Bedroom 2 Full Bath Cape Cod! Welcoming Front Porch entry. Good sized & Updated Eat In Kitchen w/ custom cabinetry & recessed lighting. Large Family Room w/ gas fireplace w/ stone surround & vaulted ceiling. Living Room w/ crown molding. 1st Floor Master Bedroom w/ tray ceiling & attached Master Bath. Another Full Bath & the Laundry Room complete the 1st level. 2nd Floor includes 2 good sized Bedrooms. Back of home w/ screened porch & deck area. 1 car detached garage with attached carport. Great opportunity! Call for your showing!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 6 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,676
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$0
• Taxable income: $14,008
• Est. tax owed @ 24.0%: −$3,362
• After-tax cash flow: $9,812/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): 45,405
• Household income: $54,931
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 2054.0

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 0.67)
• Race & ethnicity: White 51% Black 22% Hispanic / Latino 14% Two or more races 12% Asian 7%
• Hispanic origin (detail): Mexican 3% Cuban 6%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 21% · Canada, Vietnam, Philippines
• Languages at home: 74% English-only · Spanish 12% Vietnamese 3% Other Asian/Pacific 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: ▼ -235.43%
• Current HPI: 237.4062
• Rent YoY: ▲ 1.89%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-09 Pending — Metro Search MLS
• 2026-05-04 Listed $1 Metro Search MLS
• 2017-01-06 Sold (Public Records) $95,000 Public Records
• 2016-12-27 Sold (MLS) $95,000 Metro Search MLS
• 2016-10-31 Contingent — Metro Search MLS
• 2016-10-26 Listed $95,000 Metro Search MLS

Property tax history

+12.6%/yr

Latest (2025): $2,068 · +26.8% YoY. Source: county tax records.