902 Loretto Ave · Louisville, KY 40211

$46,000

2 bd · 1.0 ba · 725 sqft · SingleFamily · 14 Days on market

Built 1950 5,227 sqft lot Est $80k · 43% 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 +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

There's still a story left to tell in this cozy home tucked behind a fenced yard and centered around a classic brick fireplace. Previously configured as a 2 bedroom home, the property also includes a sunroom and approximately 725 square feet ready for someone with vision to reimagine the space. Ideal for investors, flippers, or buyers looking to take on a full restoration project. Please note, the home is not currently livable as it sits, much of the flooring has been removed and electricity is not connected. Cash or renovation financing likely required. However, for the buyer with vision, the potential here is easy to see!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Detached garage (1 car)
• Utilities: Utilities: none listed
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1950; Wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Chain link fencing; Sidewalk along the lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms, both on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heating present
• Interior features: Five total rooms; One fireplace (on the first level); Basement: none
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($884 rent vs $46k).
• Cap rate 16.2% 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 fast (+4.9%/yr); 140 active listings in the ZIP; 18 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).
• This rent runs 33% of the median local income ($32k/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 $318 of loan paydown is wiped out by about $1k 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 + 4.9% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $46,000

Questions for the listing agent

1. Built in 1950 — 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: 1.92% ✓
• Cap rate: 16.22%
• Cash-on-cash: 35.46%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $80,475
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 S 45th St	0.12mi	2/1.0	700 (-3%)	2mo	$78,000	$111	87
1012 Woodway Ln	0.23mi	2/1.0	744 (+3%)	14mo	$115,000	$155	74
1023 S 40th St	0.50mi	2/1.0	737 (+2%)	4mo	$110,000	$149	71
4401 Sunset Ave	0.28mi	2/1.0	800 (+10%)	6mo	$24,500	$31	65
1004 S 39th St	0.52mi	2/1.0	788 (+9%)	18mo	$55,000	$70	46

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 2.44×
• Total profit: $18,494
• Equity at exit: $6,859

10-year hold

• IRR: 41.2%
• Equity multiple: 5.24×
• Total profit: $54,597
• Equity at exit: $3,977

Cash invested: $12,880 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 140
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $884 high
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$58 /mo · $690/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $381

Break-even live

Break-even rent $402

Max offer price $46,000

Occupancy floor 52%

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$695	$0.93	23d	1	0.50mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$650	$0.87	3d	1	0.50mi
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	3d	1	0.83mi
3515 W Kentucky St Unit 3515-12 Louisville, KY	1.0	1.0	700	$695	$0.99	23d	1	0.88mi
691 Madelon Ct Louisville, KY	1.0	1.0	650	$675	$1.04	11d	1	1.02mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	1.20mi
4143 W Market St Unit 2 Louisville, KY	2.0	1.0	700	$850	$1.21	23d	1	1.24mi
127 Boston Ct Louisville, KY	2.0	1.0	725	$1,100	$1.52	23d	1	1.27mi
112 Boston Ct Louisville, KY	1.0	1.0	650	$800	$1.23	23d	1	1.31mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	23d	1	1.31mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,124	$1.39	1d	1	1.36mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	23d	1	1.38mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	23d	1	1.38mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	23d	1	1.39mi
2016 S 40th St Louisville, KY	2.0	1.0	700	$980	$1.40	15d	1	1.39mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	16d	1	1.42mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	23d	1	1.45mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	23d	1	1.47mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $46,000 Pending 14 DOM
2. 2026-06-03
   days on market $46,000 Active 12 DOM
3. 2026-06-02
   days on market $46,000 Active 11 DOM
4. 2026-06-01
   days on market $46,000 Active 10 DOM
5. 2026-05-31
   days on market $46,000 Active 9 DOM
6. 2026-05-21
   listed $46,000 Active

ⓘ 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 (shaded) · 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 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: $10,610
• − Mortgage interest: −$2,577
• − Property taxes: −$690
• − Insurance: −$230
• − Repairs & maintenance: −$849
• − Management: −$849
• − Depreciation: −$1,338
• Taxable income: $4,078
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $3,589/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 Black (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

1 event — show timeline

• 2026-05-21 Listed $46,000 Metro Search MLS

Property tax history

-16.4%/yr

Latest (2025): $8 · -81.5% YoY. Source: county tax records.