707 La Fontenay Ct · Douglass Hills, KY 40223

$125,000

2 bd · 2.0 ba · 1,140 sqft · Condo · 122 Days on market

Built 1971 $387/mo HOA · 24% 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 +17.9/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to La Fontenay in the desirable Shelby Crossing Condominiums, ideally located in the heart of Middletown/Louisville just off Shelbyville Road. This second-floor condo offers 2 bedrooms and 2 full bathrooms with comfortable living space and exceptional value under $140,000. Inside, you'll find an open living and dining area filled with natural light from the sliding patio door, creating an inviting central gathering space. The living room features your own private outdoor balcony—perfect for enjoying fresh air and quiet moments. The kitchen is conveniently positioned near the entry appliances will remain. The bedroom includes a large closet, The full bath offers a shower/tub co

Key facts

• Clubhouse
• Tennis courts
• Pool

Tags

• PRIVATE OUTDOOR BALCONY
• SECURED BUILDING ENTRANCE
• DEDICATED LAUNDRY CLOSET
• POOL
• TENNIS COURTS
• CLUBHOUSE

Property features AI

Finance

• Other: Part of the Shelby Crossing subdivision; Building has 2 floors and 16 condo units
• HOA & community: HOA/association present; Association fee covers gas, heat, water, sewer, trash, internet, grounds maintenance, snow removal, and master insurance; Exterior maintenance and groundskeeping included

Exterior

• Utilities: Electricity connected; Water and sewer service included in association maintenance
• Home design: Condominium unit in a residential building; Located on level 2 of the building; One-story living area within the building footprint; Architectural style: Other
• Construction: Built in 1971; Brick construction; Flat roof; Slab foundation
• Exterior features: Tennis court(s); Balcony; Lot is cleared, level, and on a dead-end

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Two bedrooms, both on the first floor; Primary bedroom is on the first floor with primary bathroom on the first floor
• Bathrooms: Two full bathrooms, both on the first floor
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Six total rooms; Six closets; Basement: none; First-floor laundry
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.1% in Douglass Hills — 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 76/100 on livability (#93 in KY, #3,759 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities D-, commute F.
• 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 fast (+4.7%/yr); 103 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $864 of loan paydown is wiped out by about $4k 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

• It's been on market 122 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 8 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: HOA is 24% of rent.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-10,511
• Equity at exit: $18,638

10-year hold

• IRR: 4.3%
• Equity multiple: 1.35×
• Total profit: $12,171
• Equity at exit: $10,808

Cash invested: $35,000 (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 40223

• Rents YoY: 4.7%
• Active inventory: 103
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,635 high
• Mortgage (P&I): −$656
• Tax from tax record: −$91 /mo · $1,095/yr
• Insurance: −$52
• HOA: −$387
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $106

Break-even live

Break-even rent $1,501

Max offer price $125,000

Occupancy floor 89%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 La Fontenay Ct Louisville, KY	2.0–3.0	2.0	1300	$1,299	$1.00	1d	4	0.08mi
175 La Fontenay Dr Louisville, KY	1.0–3.0	1.0–2.5	1202	$1,729	$1.44	1d	15	0.12mi
203 S Dorsey Ln Louisville, KY	2.0	2.0	1400	$2,200	$1.57	21d	1	0.18mi
10331 Shelbyville Rd Louisville, KY	2.0	2.0	1111	$1,550	$1.40	3d	1	0.22mi
407 Charlestown Ct Douglass Hills, KY	1.0–3.0	1.0–2.5	1175	$1,496	$1.27	1d	10	0.43mi
9811 Vieux Carre Dr Louisville, KY	1.0–3.0	1.0–2.5	1044	$1,444	$1.38	1d	15	0.82mi
201 Heritage Hill Trl Louisville, KY	1.0–2.0	1.0–2.5	946	$1,650	$1.74	1d	5	0.85mi
665 Amherst Pl Louisville, KY	2.0	1.5	1000	$1,569	$1.57	3d	6	0.93mi
9800 Willow Brook Cir Louisville, KY	1.0–2.0	1.0–2.5	1004	$2,310	$2.30	3d	35	1.00mi
11700 Frank Ave Louisville, KY	3.0	2.0	1312	$2,100	$1.60	14d	1	1.14mi
9500 Williamsburg Plz Louisville, KY	1.0–2.0	1.0–2.0	966	$2,227	$2.30	10d	8	1.17mi
8916 Marksfield Rd Louisville, KY	1.0–3.0	1.0–2.0	1425	$1,670	$1.17	2d	27	1.29mi
1000 Stone Spring Way Louisville, KY	1.0–3.0	1.0–2.5	1049	$1,688	$1.61	1d	54	1.30mi
11803 Duane Point Cir Louisville, KY	1.0	1.0	860	$1,250	$1.45	3d	1	1.43mi
11803 Duane Point Cir Louisville, KY	2.0	2.0	1030	$1,450	$1.41	21d	1	1.43mi
11803 Duane Point Cir Unit 02101 Louisville, KY	2.0	2.0	1030	$1,450	$1.41	23d	1	1.45mi

HOA detail condo

• Monthly dues: $387 · $4,644/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $125,000 Active 122 DOM
2. 2026-06-17
   days on market $125,000 Active 121 DOM
3. 2026-06-16
   days on market $125,000 Active 120 DOM
4. 2026-06-15
   days on market $125,000 Active 119 DOM
5. 2026-06-13
   days on market $125,000 Active 117 DOM
6. 2026-06-10
   days on market $125,000 Active 114 DOM
7. 2026-06-09
   days on market $125,000 Active 113 DOM
8. 2026-06-08
   days on market $125,000 Active 112 DOM
9. 2026-06-07
   days on market $125,000 Active 111 DOM
10. 2026-06-03
    days on market $125,000 Active 107 DOM
11. 2026-06-02
    days on market $125,000 Active 106 DOM
12. 2026-06-01
    days on market $125,000 Active 105 DOM
13. 2026-05-31
    days on market $125,000 Active 104 DOM
14. 2026-04-11
    price $125,000
15. 2026-02-16
    listed $130,000 Active
16. 2025-12-31
    historical
17. 2025-10-23
    price $133,000
18. 2025-06-13
    listed $135,000 Active
19. 2010-11-08
    historical
20. 2010-05-08
    listed $121,900
21. 2009-02-25
    soldstatus $122,200
22. 2008-10-29
    historical
23. 2008-10-28
    listed $122,200
24. 2008-05-14
    listed $121,900
25. 2008-05-13
    historical
26. 2007-11-14
    listed $121,900
27. 2007-11-08
    historical
28. 2007-05-11
    listed $115,900
29. 2007-05-11
    historical
30. 2007-02-19
    listed $113,900

ⓘ 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: $1,095 · $91/mo
• Projected year-2 tax: $1,095 · $91/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 ≥103°F today · 21 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: $19,626
• − Mortgage interest: −$7,002
• − Property taxes: −$1,095
• − Insurance: −$625
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − HOA: −$4,644
• − Depreciation: −$3,636
• Taxable loss: −$517
• Est. tax savings @ 24.0%: +$124
• After-tax cash flow: $1,398/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 — Douglass Hills

• Score: 76/100
• State rank: #93
• US rank: #3759

Category grades

Amenities D- Commute F Cost of living B+ Crime A+ Employment A Housing A+ Health & safety B User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Douglass Hills, KY
• County: Jefferson County · 790,184 people
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 22,798
• Household income: $96,607
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 437.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Hispanic / Latino 4% Two or more races 4% Asian 3%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 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: ▼ -286.49%
• Current HPI: 231.588
• Rent YoY: ▲ 4.65%
• 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

+9.7% since first listed

17 events — show timeline

• 2026-04-11 Price Changed $125,000 Metro Search MLS
• 2026-02-16 Listed $130,000 Metro Search MLS
• 2025-12-31 Listing Removed — Metro Search MLS
• 2025-10-23 Price Changed $133,000 Metro Search MLS
• 2025-06-13 Listed $135,000 Metro Search MLS
• 2010-11-08 Listing Removed — Metro Search MLS
• 2010-05-08 Listed $121,900 Metro Search MLS
• 2009-02-25 Sold (MLS) $122,200 Metro Search MLS
• 2008-10-29 Listing Removed — Metro Search MLS
• 2008-10-28 Listed $122,200 Metro Search MLS
• 2008-05-14 Listed $121,900 Metro Search MLS
• 2008-05-13 Listing Removed — Metro Search MLS
• 2007-11-14 Listed $121,900 Metro Search MLS
• 2007-11-08 Listing Removed — Metro Search MLS
• 2007-05-11 Listing Removed — Metro Search MLS
• 2007-05-11 Listed $115,900 Metro Search MLS
• 2007-02-19 Listed $113,900 Metro Search MLS

Property tax history

-1.5%/yr

Latest (2025): $1,095 · -1.9% YoY. Source: county tax records.