2017 W Jefferson St · Louisville, KY 40203

$90,000

4 bd · 2.0 ba · 2,161 sqft · SingleFamily · 7 Days on market

Built 1900 5,876 sqft lot Est $147k · 39% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to build your portfolio! BRRRR or FLIP!

Key facts

• New furnace
• Privacy fence
• New roof

Tags

• NEW ROOF
• NEW FURNACE
• PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 14.3% 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 (+3.7%/yr); 114 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); lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $1,498/mo this rent would consume 58% of the median local household income ($31k/yr) (locally 1603% 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 $622 of loan paydown is wiped out by about $3k 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 + 3.7% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 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.
• Current owner paid $40k; list at $90k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $90,000

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: 1.66% ✓
• Cap rate: 14.34%
• Cash-on-cash: 28.73%
• DSCR: 2.28
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $146,948
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2013 Bank St	0.61mi	4/2.0	2,126 (-2%)	2mo	$36,500	$17	67
1944 W Chestnut St	0.37mi	4/2.5	2,100 (-3%)	16mo	$190,000	$90	62
2219 W Madison St	0.32mi	3/2.0 (-1)	1,922 (-11%)	3mo	$22,000	$11	59
2513 W Chestnut St	0.58mi	4/2.0	2,108 (-2%)	14mo	$144,000	$68	57
2535 Duncan St	0.62mi	5/2.0 (+1)	2,100 (-3%)	10mo	$170,000	$81	53
2321 W Chestnut St	0.45mi	3/1.0 (-1)	2,254 (+4%)	12mo	$53,000	$24	52
1924 Rowan St	0.26mi	3/2.0 (-1)	1,844 (-15%)	22mo	$119,900	$65	40
2424 Saint Xavier St	0.70mi	4/2.5	1,921 (-11%)	19mo	$190,650	$99	31
2036 Portland Ave	0.73mi	5/1.5 (+1)	1,890 (-12%)	18mo	$141,300	$75	23

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 · 3.73% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 1.99×
• Total profit: $24,954
• Equity at exit: $13,419

10-year hold

• IRR: 32.2%
• Equity multiple: 4.01×
• Total profit: $75,820
• Equity at exit: $7,782

Cash invested: $25,200 (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 40203

• Home prices YoY: -13.8%
• Rents YoY: 3.7%
• Active inventory: 114
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$472
• Tax from tax record: −$70 /mo · $846/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $603

Break-even live

Break-even rent $734

Max offer price $90,000

Occupancy floor 55%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	15d	1	0.36mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	23d	1	0.54mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	23d	1	0.62mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	15d	1	0.65mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	17d	1	0.91mi
980 W Liberty St Louisville, KY	1.0–3.0	1.0–1.5	1026	$1,535	$1.50	23d	133	0.97mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	2d	1	1.35mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	1.35mi

Listing history 23 events

1. 2026-04-09
   status Pending
2. 2026-04-05
   historical Active Under Contract
3. 2026-04-02
   listed $90,000 Active
4. 2022-12-12
   soldstatus $40,000 Closed 57-char remark

   Show marketing remark (57 chars)

   Great opportunity to build your portfolio! BRRRR or FLIP!

5. 2022-11-29
   status Pending 57-char remark

   Show marketing remark (57 chars)

   Great opportunity to build your portfolio! BRRRR or FLIP!

6. 2022-11-16
   listed $50,000 Active 57-char remark

   Show marketing remark (57 chars)

   Great opportunity to build your portfolio! BRRRR or FLIP!

7. 2022-11-15
   historical
8. 2022-11-05
   historical Active Under Contract
9. 2022-11-02
   status Active
10. 2022-10-31
    historical
11. 2022-10-27
    listed $50,000 Active
12. 2022-10-26
    historical
13. 2022-10-20
    status Active
14. 2022-09-16
    historical Active Under Contract
15. 2022-07-26
    price $79,999
16. 2022-07-25
    listed $89,900 Active
17. 2019-04-30
    historical
18. 2019-01-14
    listed $89,000 Active
19. 2007-08-24
    historical
20. 2007-08-24
    listed $16,500
21. 2007-05-24
    listed $16,500
22. 2005-11-03
    soldstatus $60,000
23. 2005-04-09
    listed $60,000

ⓘ 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: $846 · $70/mo
• Projected year-2 tax: $846 · $70/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 ≥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: $17,975
• − Mortgage interest: −$5,041
• − Property taxes: −$846
• − Insurance: −$450
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$2,618
• Taxable income: $6,144
• Est. tax owed @ 24.0%: −$1,475
• After-tax cash flow: $5,767/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): 17,742
• Household income: $30,794
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 1603.0

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 0.56)
• Race & ethnicity: Black 49% White 44% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -64.74%
• Current HPI: 405.1872
• Rent YoY: ▲ 3.73%
• 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

+50.0% since first listed

23 events — show timeline

• 2026-04-09 Pending — Metro Search MLS
• 2026-04-05 Contingent — Metro Search MLS
• 2026-04-02 Listed $90,000 Metro Search MLS
• 2022-12-12 Sold (MLS) $40,000 Metro Search MLS
• 2022-11-29 Pending — Metro Search MLS
• 2022-11-16 Listed $50,000 Metro Search MLS
• 2022-11-15 Listing Removed — Metro Search MLS
• 2022-11-05 Contingent — Metro Search MLS
• 2022-11-02 Relisted — Metro Search MLS
• 2022-10-31 Listing Removed — Metro Search MLS
• 2022-10-27 Listed $50,000 Metro Search MLS
• 2022-10-26 Listing Removed — Metro Search MLS
• 2022-10-20 Relisted — Metro Search MLS
• 2022-09-16 Contingent — Metro Search MLS
• 2022-07-26 Price Changed $79,999 Metro Search MLS
• 2022-07-25 Listed $89,900 Metro Search MLS
• 2019-04-30 Listing Removed — Metro Search MLS
• 2019-01-14 Listed $89,000 Metro Search MLS
• 2007-08-24 Listed $16,500 Metro Search MLS
• 2007-08-24 Listing Removed — Metro Search MLS
• 2007-05-24 Listed $16,500 Metro Search MLS
• 2005-11-03 Sold (MLS) $60,000 Metro Search MLS
• 2005-04-09 Listed $60,000 Metro Search MLS

Property tax history

+3.9%/yr

Latest (2025): $846 · -1.9% YoY. Source: county tax records.