318 Freeman Ave · Louisville, KY 40214

$95,500

2 bd · 1.0 ba · 628 sqft · SingleFamily · 6 Days on market

Built 1941 5,663 sqft lot Est $154k · 38% under

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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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.6/10.0
• 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

Come check out this 2 Bedroom 1 Bath Home with off street parking and a large, privacy fenced back yard. Enter through the front door into the Living Room or from the side door into the Laundry Room. There is a covered carport area off the side allowing you convenient entry when unloading groceries, etc. The Laundry Room flows off the Kitchen and the 2 Bedrooms and Full Bath complete this Home. The Privacy Fenced Back Yard is great for entertaining. Stop by today before this one is SOLD!!

Key facts

• Covered carport area
• Off street parking
• Laundry room

Tags

• OFF STREET PARKING
• PRIVACY FENCED BACK YARD
• COVERED CARPORT AREA
• LAUNDRY ROOM
• LIVING ROOM
• KITCHEN

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch-style home; 1 story; Built in 1941
• Construction: Vinyl siding; Concrete block foundation; Shingle roof
• Exterior features: Privacy fencing around the property; Full fenced yard; Lot dimensions approximately 40 x 140

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Interior features: 4 total rooms; 1 closet; No basement; Living room
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Cap rate 8.4% 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 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $660 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,500

Questions for the listing agent

1. Built in 1941 — 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: 1.06% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $153,860
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 Inverness Ave	0.26mi	2/1.0	616 (-2%)	1mo	$160,000	$260	84
324 Alger Ave	0.07mi	2/1.0	673 (+7%)	11mo	$165,000	$245	76
722 Inverness Ave	0.34mi	2/1.0	650 (+4%)	3mo	$159,900	$246	76
629 Inverness Ave	0.27mi	2/1.0	612 (-2%)	10mo	$103,000	$168	75
304 Freeman Ave	0.05mi	2/1.0	649 (+3%)	22mo	$170,000	$262	74
5312 Buckner Ave	0.37mi	2/1.0	695 (+11%)	2mo	$136,999	$197	63
638 Gheens Ave	0.33mi	2/1.0	715 (+14%)	10mo	$142,500	$199	53

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-6,022
• Equity at exit: $14,239

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $3,886
• Equity at exit: $8,257

Cash invested: $26,740 (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
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,008 high
• Mortgage (P&I): −$501
• Tax from tax record: −$90 /mo · $1,075/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $166

Break-even live

Break-even rent $798

Max offer price $95,500

Occupancy floor 79%

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: $23,875
• Closing costs: $2,865
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$975	$1.22	2d	9	0.62mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$1,067	$1.33	24d	1	0.62mi
518 Iroquois Garden Dr Louisville, KY	1.0–2.0	1.0–2.0	850	$999	$1.18	3d	27	0.84mi
4704 Southern Pkwy Unit A1 Louisville, KY	1.0	1.0	750	$775	$1.03	17d	1	1.05mi
4619 Southern Pkwy Unit 3 Louisville, KY	1.0	1.0	700	$975	$1.39	2d	1	1.17mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$895	$1.11	14d	3	1.17mi
800 Glen Hollow Dr Louisville, KY	1.0–2.0	1.0	725	$950	$1.31	16d	2	1.18mi
136 Lawson Ln Louisville, KY	1.0	1.0	600	$785	$1.31	24d	5	1.30mi

Listing history 6 events

1. 2026-06-18
   days on market $95,500 Active 6 DOM
2. 2026-06-17
   days on market $95,500 Active 5 DOM
3. 2026-06-16
   days on market $95,500 Active 4 DOM
4. 2026-06-15
   days on market $95,500 Active 3 DOM
5. 2026-06-13
   remarks 493-char remark
6. 2026-06-13
   listed $95,500 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: $1,075 · $90/mo
• Projected year-2 tax: $1,075 · $90/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 · 17 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: $12,093
• − Mortgage interest: −$5,349
• − Property taxes: −$1,075
• − Insurance: −$478
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$2,778
• Taxable income: $478
• Est. tax owed @ 24.0%: −$115
• After-tax cash flow: $1,877/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

+36.4% since first listed

18 events — show timeline

• 2026-06-12 Listed $95,500 Metro Search MLS
• 2025-10-29 Price Changed $134,900 Metro Search MLS
• 2025-10-29 Price Changed $134,900 HKARMLS
• 2025-09-16 Price Changed $138,900 HKARMLS
• 2025-09-16 Price Changed $138,900 Metro Search MLS
• 2025-09-06 Price Changed $139,400 HKARMLS
• 2025-09-06 Price Changed $139,400 Metro Search MLS
• 2025-08-29 Listed $139,900 RASKMLS
• 2022-08-31 Sold (Public Records) $116,000 Public Records
• 2022-08-31 Sold (MLS) $116,000 Metro Search MLS
• 2022-08-08 Pending — Metro Search MLS
• 2022-07-01 Price Changed $119,000 Metro Search MLS
• 2022-07-01 Listed $119,000 Metro Search MLS
• 2022-06-06 Listing Removed — Metro Search MLS
• 2022-05-10 Listed $145,000 Metro Search MLS
• 2007-07-25 Sold (Public Records) $70,000 Public Records
• 2007-07-19 Sold (MLS) $70,000 Metro Search MLS
• 2007-05-16 Listed $69,995 Metro Search MLS

Property tax history

+1.4%/yr

Latest (2025): $1,075 · -27.8% YoY. Source: county tax records.