116 N 44th St · Louisville, KY 40212

$164,999

4 bd · 2.0 ba · 1,900 sqft · SingleFamily · 29 Days on market

Built 1926 5,968 sqft lot Est $158k · at est.

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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 +19.0/30.0
• Appreciation +10.0/10.0
• DSCR +6.0/10.0
• ARV discount +5.4/15.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Great investment property. Recent price reduction.

Key facts

• 5,968 sq ft lot
• 2 garage spots
• Built 1926

Property features AI

Finance

• Other: Subdivision: ALTOON
• HOA & community: No association fee

Exterior

• Parking: Detached garage with 2 garage spaces; Driveway parking
• Utilities: Electricity connected; Natural gas service
• Home design: Single-family residence, Traditional style; 2 stories; Built in 1926
• Construction: Brick construction; Shingle roof; Poured concrete foundation
• Exterior features: Level lot; Chain link fencing

Interior

• Kitchen: Kitchen on the first floor; Eat-in kitchen; Formal dining room on the first floor
• Bedrooms: 4 bedrooms total; Primary bedroom on the first floor; Three bedrooms on the second floor; No basement bedrooms
• Bathrooms: 2 full bathrooms; Full bathroom located on the second floor
• Heating & cooling: Forced air heating (natural gas); Wall/window cooling units
• Interior features: One fireplace on the first floor; 8 total rooms (11 rooms reported overall); 6 closets; Unfinished basement
• Laundry & utility: Laundry in the basement (no first-floor laundry)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (8.9% below list).
• Recommended offer: $150k (8.9% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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 flat; 140 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $18k of equity ($1k loan paydown + $16k 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 26y 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 $76k; list at $165k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — 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 $150,337 (8.9% below list)

Questions for the listing agent

1. Built in 1926 — 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: 0.91% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $157,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 S 41st St	0.39mi	4/2.0	1,765 (-7%)	2mo	$110,000	$62	68
315 Shawnee Dr	0.42mi	3/1.0 (-1)	1,821 (-4%)	5mo	$105,000	$58	61
112 S 41st St	0.26mi	5/2.5 (+1)	2,100 (+10%)	5mo	$175,000	$83	59
212 N 38th St	0.44mi	4/2.0	1,747 (-8%)	12mo	$189,900	$109	56
309 S 41st St	0.47mi	3/2.0 (-1)	1,675 (-12%)	2mo	$102,000	$61	52
4557 Southwestern Pkwy	0.51mi	3/1.0 (-1)	2,051 (+8%)	4mo	$145,000	$71	51
4007 Vermont Ave	0.67mi	4/2.5	2,052 (+8%)	4mo	$197,500	$96	50
123 S 39th St	0.44mi	4/2.5	2,159 (+14%)	6mo	$215,000	$100	50
224 N 38th St	0.45mi	3/2.0 (-1)	1,685 (-11%)	12mo	$75,000	$45	45
405 N 38th St	0.55mi	4/2.0	1,616 (-15%)	7mo	$190,000	$118	44
107 N 38th St	0.50mi	3/1.0 (-1)	1,649 (-13%)	8mo	$145,000	$88	40
4131 W Muhammad Ali Blvd	0.56mi	3/2.0 (-1)	1,636 (-14%)	12mo	$19,000	$12	36

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: 26.7%
• Equity multiple: 3.10×
• Total profit: $97,171
• Equity at exit: $148,644

10-year hold

• IRR: 22.8%
• Equity multiple: 6.86×
• Total profit: $270,640
• Equity at exit: $320,557

Cash invested: $46,200 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$865
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $173

Break-even live

Break-even rent $1,284

Max offer price $164,999

Occupancy floor 83%

Sensitivity live

Price	-10% $267	-5% $220	+0% $173	+5% $127	+10% $80
Rent	-10% $55	-5% $114	+0% $173	+5% $233	+10% $292
Rate	-1.0pp $256	-0.5pp $215	base $173	+0.5pp $131	+1.0pp $87

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	4d	1	0.30mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	4d	1	0.32mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	17d	1	0.86mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	17d	1	0.88mi
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	17d	1	1.08mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	4d	1	1.16mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	20d	1	1.31mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	1.37mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	24d	1	1.40mi
807 E Main St New Albany, IN	3.0	2.0	1500	$1,650	$1.10	20d	1	1.43mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	24d	1	1.48mi

Listing history 47 events

1. 2026-06-18
   days on market $164,999 Active 29 DOM
2. 2026-06-17
   days on market $164,999 Active 28 DOM
3. 2026-06-16
   days on market $164,999 Active 27 DOM
4. 2026-06-15
   days on market $164,999 Active 26 DOM
5. 2026-06-13
   days on market $164,999 Active 24 DOM
6. 2026-06-10
   days on market $164,999 Active 21 DOM
7. 2026-06-09
   days on market $164,999 Active 20 DOM
8. 2026-06-08
   days on market $164,999 Active 19 DOM
9. 2026-06-07
   days on market $164,999 Active 18 DOM
10. 2026-06-03
    days on market $164,999 Active 14 DOM
11. 2026-06-02
    days on market $164,999 Active 13 DOM
12. 2026-06-01
    days on market $164,999 Active 12 DOM
13. 2026-05-31
    days on market $164,999 Active 11 DOM
14. 2026-05-20
    listed $164,999 Active
15. 2026-04-02
    price $174,900
16. 2025-12-22
    historical $1,495
17. 2025-11-19
    listed $1,495
18. 2025-09-15
    historical $1,495
19. 2025-07-09
    listed $1,495
20. 2024-05-09
    historical $1,495
21. 2024-04-25
    price $1,495
22. 2024-02-14
    listed $1,900
23. 2024-02-09
    historical $1,400
24. 2024-01-20
    listed $1,400
25. 2023-12-12
    soldstatus $76,500 Closed 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

26. 2023-11-13
    status Pending 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

27. 2023-11-03
    status Pending 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

28. 2023-09-15
    status Active 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

29. 2023-09-15
    price $79,000 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

30. 2023-09-15
    price $89,000 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

31. 2023-09-05
    status Pending 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

32. 2023-06-08
    price $109,000 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

33. 2023-06-08
    listed $94,000 Active 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

34. 2023-06-08
    price $99,000 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

35. 2023-06-08
    price $98,000 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

36. 2023-06-08
    price $94,000 50-char remark

    Show marketing remark (50 chars)

    Great investment property. Recent price reduction.

37. 2013-01-29
    soldstatus $25,500
38. 2012-11-11
    listed $24,900
39. 2005-02-22
    soldstatus $69,000
40. 2005-02-15
    soldstatus $69,000
41. 2004-09-30
    listed $71,000
42. 2004-09-29
    historical
43. 2004-04-16
    listed $71,000
44. 2002-03-27
    historical
45. 2001-04-23
    historical
46. 2001-03-27
    listed $69,950
47. 2000-04-28
    listed $69,950

ⓘ 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: $964 · $80/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$455/yr (+$38/mo · 47.2%)

ⓘ 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 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: $18,040
• − Mortgage interest: −$9,243
• − Property taxes: −$964
• − Insurance: −$825
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$4,800
• Taxable loss: −$677
• Est. tax savings @ 24.0%: +$163
• After-tax cash flow: $2,242/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

+135.9% since first listed

34 events — show timeline

• 2026-05-20 Listed $164,999 Metro Search MLS
• 2026-04-02 Price Changed $174,900 Metro Search MLS
• 2025-12-22 Rental Removed $1,495 APPFOLIO
• 2025-11-19 Listed for Rent $1,495 APPFOLIO
• 2025-09-15 Rental Removed $1,495 Avail
• 2025-07-09 Listed for Rent $1,495 Avail
• 2024-05-09 Rental Removed $1,495 Avail
• 2024-04-25 Price Changed $1,495 Avail
• 2024-02-14 Listed for Rent $1,900 Avail
• 2024-02-09 Rental Removed $1,400 Avail
• 2024-01-20 Listed for Rent $1,400 Avail
• 2023-12-12 Sold (MLS) $76,500 Metro Search MLS
• 2023-11-13 Pending — Metro Search MLS
• 2023-11-03 Pending — Metro Search MLS
• 2023-09-15 Relisted — Metro Search MLS
• 2023-09-15 Price Changed $89,000 Metro Search MLS
• 2023-09-15 Price Changed $79,000 Metro Search MLS
• 2023-09-05 Pending — Metro Search MLS
• 2023-06-08 Price Changed $94,000 Metro Search MLS
• 2023-06-08 Price Changed $98,000 Metro Search MLS
• 2023-06-08 Price Changed $99,000 Metro Search MLS
• 2023-06-08 Listed $94,000 Metro Search MLS
• 2023-06-08 Price Changed $109,000 Metro Search MLS
• 2013-01-29 Sold (MLS) $25,500 Metro Search MLS
• 2012-11-11 Listed $24,900 Metro Search MLS
• 2005-02-22 Sold (Public Records) $69,000 Public Records
• 2005-02-15 Sold (MLS) $69,000 Metro Search MLS
• 2004-09-30 Listed $71,000 Metro Search MLS
• 2004-09-29 Listing Removed — Metro Search MLS
• 2004-04-16 Listed $71,000 Metro Search MLS
• 2002-03-27 Listing Removed — Metro Search MLS
• 2001-04-23 Listing Removed — Metro Search MLS
• 2001-03-27 Listed $69,950 Metro Search MLS
• 2000-04-28 Listed $69,950 Metro Search MLS

Property tax history

+10.0%/yr

Latest (2025): $964 · -1.9% YoY. Source: county tax records.