1119 La Fontenay Ct · Douglass Hills, KY 40223

$99,999

2 bd · 2.0 ba · 981 sqft · Condo · 33 Days on market

Built 1971 $387/mo HOA · 23% of rent

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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 +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 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

Hurry up!! Don't miss this opportunity. Priced to Sell !!! Act Fast!!Move right in to this Convenient and Affordable 2nd Floor Condo off Shelbyville Road in Middletown area. Freshly painted Spacious 2 Bedrooms with 2 full baths. Great Open and Comfortable Living Room with access to Dining Room and your own Outdoor Space. The well-appointed Kitchen has white cabinetry, black appliances, tiled floor, granite-look counters and a space to accommodate a small table. The Dining Room allows for larger gatherings or would make an ideal space for a home office. The Large master bedroom has laundry, EN-SUITE bath, and impressive walk-in closet with organizing system. The second Bedroom is generously

Key facts

• Black appliances
• Outdoor space
• 2nd floor condo

Tags

• 2ND FLOOR CONDO
• OUTDOOR SPACE
• WELL-APPOINTED KITCHEN
• WHITE CABINETRY
• BLACK APPLIANCES
• GRANITE-LOOK COUNTERS

Property features AI

Finance

• Other: Subdivision: SHELBY CROSSING
• HOA & community: Association present; Monthly maintenance fee of $387

Exterior

• Parking: No designated parking
• Utilities: Electricity connected
• Home design: Residential condominium; Traditional style; Located on the 2nd floor (unit in building); One-story building
• Construction: Built in 1971; Vinyl siding and brick exterior; Shingle roof; Poured concrete foundation
• Exterior features: Balcony

Interior

• Kitchen: Kitchen located on the second floor
• Bedrooms: Two bedrooms total; Primary bedroom located on the second floor; Additional bedroom(s) on the second floor
• Bathrooms: Two full bathrooms; Primary bathroom located on the second floor
• Interior features: Five total rooms; No basement
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.2% 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.
• Zoned schools: Middletown Elementary (math 32% / reading 42%, grade F, #255 of 676 statewide, top 42%, 538 students, 48% FRL); Crosby Middle (math 32% / reading 49%, grade F, #57 of 217 statewide, top 26%, 1,016 students, 46% FRL); Eastern High (math 44% / reading 45%, grade F, #21 of 254 statewide, top 10%, 2,036 students, 37% FRL).
• Zoned-school proficiency averages 41% at this address vs 27% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Jefferson County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 107 active listings in the ZIP; 11 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 $691 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 + 4.7% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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 23% 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 $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.68% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 5.0

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: 4.5%
• Equity multiple: 1.18×
• Total profit: $4,972
• Equity at exit: $14,910

10-year hold

• IRR: 16.0%
• Equity multiple: 2.45×
• Total profit: $40,619
• Equity at exit: $8,646

Cash invested: $28,000 (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: 107
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$524
• Tax from tax record: −$86 /mo · $1,032/yr
• Insurance: −$42
• HOA: −$387
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $284

Break-even live

Break-even rent $1,315

Max offer price $99,999

Occupancy floor 78%

Sensitivity live

Price	-10% $341	-5% $313	+0% $284	+5% $256	+10% $228
Rent	-10% $152	-5% $218	+0% $284	+5% $351	+10% $417
Rate	-1.0pp $335	-0.5pp $310	base $284	+0.5pp $258	+1.0pp $232

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 La Fontenay Dr Louisville, KY	1.0–3.0	1.0–2.5	1202	$1,729	$1.44	3d	15	0.12mi
10331 Shelbyville Rd Louisville, KY	2.0	2.0	1111	$1,550	$1.40	5d	1	0.27mi
407 Charlestown Ct Douglass Hills, KY	1.0–3.0	1.0–2.5	1175	$1,496	$1.27	3d	10	0.51mi
201 Heritage Hill Trl Louisville, KY	1.0–2.0	1.0–2.5	946	$1,650	$1.74	3d	5	0.85mi
9811 Vieux Carre Dr Louisville, KY	1.0–3.0	1.0–2.5	1044	$1,444	$1.38	3d	15	0.86mi
665 Amherst Pl Louisville, KY	2.0	1.5	1000	$1,569	$1.57	5d	6	1.04mi
9800 Willow Brook Cir Louisville, KY	1.0–2.0	1.0–2.5	1004	$2,310	$2.30	5d	35	1.09mi
9500 Williamsburg Plz Louisville, KY	1.0–2.0	1.0–2.0	966	$2,227	$2.30	12d	8	1.22mi
8916 Marksfield Rd Louisville, KY	1.0–3.0	1.0–2.0	1425	$1,670	$1.17	4d	27	1.31mi
1000 Stone Spring Way Louisville, KY	1.0–3.0	1.0–2.5	1049	$1,688	$1.61	3d	54	1.41mi
10500 Drumlin Dr Blue Ridge Manor, KY	1.0–3.0	1.0–2.0	1117	$1,834	$1.64	3d	23	1.44mi

HOA detail condo

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

Listing history 33 events

1. 2026-06-13
   days on market $99,999 Active 33 DOM
2. 2026-06-10
   days on market $99,999 Active 30 DOM
3. 2026-06-09
   days on market $99,999 Active 29 DOM
4. 2026-06-08
   days on market $99,999 Active 28 DOM
5. 2026-06-07
   days on market $99,999 Active 27 DOM
6. 2026-06-03
   days on market $99,999 Active 23 DOM
7. 2026-06-02
   days on market $99,999 Active 22 DOM
8. 2026-06-01
   days on market $99,999 Active 21 DOM
9. 2026-05-31
   days on market $99,999 Active 20 DOM
10. 2026-05-11
    listed $99,999 Active
11. 2026-04-19
    historical
12. 2026-02-12
    price $109,000
13. 2025-12-08
    price $112,000
14. 2025-12-01
    price $114,000
15. 2025-11-21
    price $117,000
16. 2025-11-11
    price $119,000
17. 2025-10-31
    price $124,000
18. 2025-10-19
    listed $129,000 Active
19. 2024-12-07
    historical
20. 2024-11-21
    price $134,000
21. 2024-09-19
    listed $140,000 Active
22. 2020-06-16
    soldstatus $92,500
23. 2020-06-05
    soldstatus $92,500 Closed
24. 2020-05-26
    status Pending
25. 2020-05-26
    historical Active Under Contract
26. 2020-05-22
    listed $92,500 Active
27. 2010-04-29
    soldstatus $99,000
28. 2010-04-23
    soldstatus $99,000
29. 2009-11-30
    listed $99,850
30. 2009-09-26
    historical
31. 2009-04-09
    listed $99,989
32. 2006-05-25
    soldstatus $100,120
33. 2006-04-01
    listed $96,800

ⓘ 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: $1,032 · $86/mo
• Projected year-2 tax: $1,032 · $86/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: $20,103
• − Mortgage interest: −$5,601
• − Property taxes: −$1,032
• − Insurance: −$500
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − HOA: −$4,644
• − Depreciation: −$2,909
• Taxable income: $2,200
• Est. tax owed @ 24.0%: −$528
• After-tax cash flow: $2,884/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

+3.3% since first listed

24 events — show timeline

• 2026-05-11 Listed $99,999 Metro Search MLS
• 2026-04-19 Listing Removed — Metro Search MLS
• 2026-02-12 Price Changed $109,000 Metro Search MLS
• 2025-12-08 Price Changed $112,000 Metro Search MLS
• 2025-12-01 Price Changed $114,000 Metro Search MLS
• 2025-11-21 Price Changed $117,000 Metro Search MLS
• 2025-11-11 Price Changed $119,000 Metro Search MLS
• 2025-10-31 Price Changed $124,000 Metro Search MLS
• 2025-10-19 Listed $129,000 Metro Search MLS
• 2024-12-07 Listing Removed — Metro Search MLS
• 2024-11-21 Price Changed $134,000 Metro Search MLS
• 2024-09-19 Listed $140,000 Metro Search MLS
• 2020-06-16 Sold (Public Records) $92,500 Public Records
• 2020-06-05 Sold (MLS) $92,500 Metro Search MLS
• 2020-05-26 Pending — Metro Search MLS
• 2020-05-26 Contingent — Metro Search MLS
• 2020-05-22 Listed $92,500 Metro Search MLS
• 2010-04-29 Sold (Public Records) $99,000 Public Records
• 2010-04-23 Sold (MLS) $99,000 Metro Search MLS
• 2009-11-30 Listed $99,850 Metro Search MLS
• 2009-09-26 Listing Removed — Metro Search MLS
• 2009-04-09 Listed $99,989 Metro Search MLS
• 2006-05-25 Sold (MLS) $100,120 Metro Search MLS
• 2006-04-01 Listed $96,800 Metro Search MLS

Property tax history

-0.1%/yr

Latest (2025): $1,032 · -1.9% YoY. Source: county tax records.