1049 Tennessee Ave · Louisville, KY 40208

$110,000

2 bd · 1.0 ba · 768 sqft · SingleFamily · 16 Days on market

Built 1947 3,720 sqft lot Est $119k · 8% 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 +24.0/30.0
• ARV discount +10.9/15.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• Rent growth +4.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Adorable and updated 2 bed 1 bath ranch near Historic Churchill Downs. Would be the perfect portfolio add to any investor. Seller will sell individually or part of a 4 property deal. This home is currently occupied with tenants so ample notice will have to be given for any showings. This home will be sold AS-IS.

Key facts

• 3,720 sq ft lot
• Built 1947
• Listed 16 days

Property features AI

Finance

• Other: Directions: Taylor Blvd to Tennessee
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch home; One story; Built in 1947
• Construction: Vinyl siding exterior; Shingle roof; Built in 1947
• Exterior features: Lot approximately 0.09 acres (30 x 124)

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Two bedrooms, both on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Five total rooms; Three closets; 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 $110k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 rising fast (+6.1%/yr); 77 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% of the median local income ($40k/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 $761 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 + 6.1% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $110k implies a 340% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1947 — 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: 1.03% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $119,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 Euclid Ave	0.11mi	2/1.0	804 (+5%)	1mo	$128,000	$159	86
810 Weller Ave	0.19mi	2/1.0	840 (+9%)	2mo	$124,000	$148	74
2760 Montana Ave	0.10mi	2/1.0	676 (-12%)	2mo	$103,000	$152	74
2448 Lindbergh Dr	0.28mi	2/1.0	810 (+6%)	5mo	$97,500	$120	74
1325 Lillian Ave	0.17mi	2/1.0	847 (+10%)	3mo	$140,000	$165	72
1413 Thornberry Ave	0.46mi	2/1.0	728 (-5%)	6mo	$137,305	$189	65
1323 Thornberry Ave	0.50mi	2/1.0	823 (+7%)	1mo	$140,000	$170	64
1516 Wurtele Ave	0.40mi	2/1.0	700 (-9%)	7mo	$115,000	$164	61
1600 Thornberry Ave	0.48mi	2/1.0	700 (-9%)	5mo	$82,000	$117	58
1623 Phyllis Ave	0.54mi	2/1.0	700 (-9%)	3mo	$92,500	$132	58
3304 Bohannon Ave	0.60mi	2/1.0	813 (+6%)	5mo	$125,900	$155	58
1243 Arcade Ave	0.68mi	2/1.0	720 (-6%)	2mo	$60,000	$83	56

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 · 6.06% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-555
• Equity at exit: $16,401

10-year hold

• IRR: 11.9%
• Equity multiple: 2.06×
• Total profit: $32,729
• Equity at exit: $9,511

Cash invested: $30,800 (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 40208

• Home prices YoY: -23.3%
• Rents YoY: 6.1%
• Active inventory: 77
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,131 high
• Mortgage (P&I): −$577
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $215

Break-even live

Break-even rent $859

Max offer price $110,000

Occupancy floor 76%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 Weller Ave Louisville, KY	2.0	1.0	912	$1,500	$1.64	3d	1	0.10mi
1301 Lillian Ave Louisville, KY	3.0	1.0	974	$1,250	$1.28	16d	1	0.13mi
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	23d	1	0.17mi
3107 Montana Ave Louisville, KY	2.0	1.0	986	$995	$1.01	23d	1	0.23mi
1055 Euclid Ave Louisville, KY	2.0	1.0	914	$1,325	$1.45	23d	1	0.23mi
1305 Larchmont Ave Louisville, KY	2.0	1.0	1113	$1,350	$1.21	16d	1	0.28mi
1122 Larchmont Ave Louisville, KY	2.0	1.0	864	$750	$0.87	16d	1	0.35mi
1122 Larchmont Ave Unit B Louisville, KY	2.0	1.0	864	$750	$0.87	23d	1	0.35mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	17d	1	0.35mi
2716 S 6th St Louisville, KY	1.0	1.0	881	$950	$1.08	16d	1	0.37mi
508 M St Louisville, KY	2.0	1.5	1035	$1,100	$1.06	23d	1	0.44mi
1438 Lillian Ave Louisville, KY	2.0	1.0	777	$1,050	$1.35	17d	1	0.45mi
4600 South St Unit PARKWAYE1 Louisville, KY	2.0	1.0	700	$749	$1.07	23d	1	0.51mi
1637 Thornberry Ave Louisville, KY	2.0	1.0	700	$1,250	$1.79	3d	1	0.53mi
2805 S 4th St #1 Louisville, KY	1.0	1.0	750	$725	$0.97	21d	1	0.58mi
2501 S 4th St Louisville, KY	1.0–3.0	1.0–3.0	897	$3,732	$4.16	3d	1	0.64mi
2501 S 3rd St Louisville, KY	1.0–2.0	1.0–2.0	1011	$1,550	$1.53	3d	2	0.68mi
2913 S 3rd St Louisville, KY	2.0	1.0	1026	$1,200	$1.17	23d	1	0.70mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	23d	1	0.89mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	16d	1	0.93mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	23d	1	0.94mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	23d	1	0.97mi
1111 Dresden Ave Louisville, KY	2.0	1.0	680	$1,100	$1.62	16d	1	0.99mi
1501 Bellamy Pl Louisville, KY	2.0–4.0	2.0–4.0	1074	$1,758	$1.64	3d	1	1.01mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	3d	1	1.04mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	16d	1	1.04mi
1800 S 2nd St Louisville, KY	1.0	1.0	575	$950	$1.65	16d	7	1.10mi
4012 Southern Pkwy Unit 8 Louisville, KY	1.0	1.0	600	$795	$1.32	14d	1	1.11mi
4012 Southern Pkwy Unit 5 Louisville, KY	1.0	1.0	600	$795	$1.32	23d	1	1.11mi
1726 Sonne Ave Louisville, KY	2.0	1.0	820	$1,095	$1.34	16d	1	1.11mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	16d	1	1.13mi
409 W Gaulbert Ave Unit 201 Louisville, KY	2.0	1.0	772	$1,100	$1.42	23d	1	1.18mi
1702 S 2nd St Apt 1 Louisville, KY	2.0	1.0	875	$1,100	$1.26	23d	1	1.18mi
1702 S 2nd St Apt 3 Louisville, KY	1.0	1.0	625	$875	$1.40	23d	1	1.18mi
1521 S 4th St Unit 6 Louisville, KY	2.0	1.0	750	$1,025	$1.37	23d	1	1.21mi
1521 S 4th St Unit 12 Louisville, KY	1.0	1.0	700	$795	$1.14	21d	1	1.21mi
1521 S 4th St Unit 7 Louisville, KY	2.0	1.0	750	$1,125	$1.50	23d	1	1.21mi
1521 S 4th St Apt 8 Louisville, KY	1.0	1.0	700	$900	$1.29	23d	1	1.21mi
3449 Powell Ave Louisville, KY	2.0	1.0	800	$1,000	$1.25	23d	1	1.24mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	23d	1	1.24mi

Listing history 11 events

1. 2026-06-18
   days on market $110,000 Active 16 DOM
2. 2026-06-17
   days on market $110,000 Active 15 DOM
3. 2026-06-16
   days on market $110,000 Active 14 DOM
4. 2026-06-15
   days on market $110,000 Active 13 DOM
5. 2026-06-13
   days on market $110,000 Active 11 DOM
6. 2026-06-10
   days on market $110,000 Active 8 DOM
7. 2026-06-09
   days on market $110,000 Active 7 DOM
8. 2026-06-08
   days on market $110,000 Active 6 DOM
9. 2026-06-07
   days on market $110,000 Active 5 DOM
10. 2026-06-02
    remarks 313-char remark
11. 2026-06-02
    listed $110,000 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: $671 · $56/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$275/yr (+$23/mo · 41.0%)

ⓘ 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 ≥104°F today · 19 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: $13,578
• − Mortgage interest: −$6,162
• − Property taxes: −$671
• − Insurance: −$550
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$3,200
• Taxable income: $823
• Est. tax owed @ 24.0%: −$198
• After-tax cash flow: $2,386/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): 15,605
• Household income: $39,560
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 1136.0

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 0.56)
• Race & ethnicity: White 62% Black 22% Two or more races 9% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -72.97%
• Current HPI: 240.6261
• Rent YoY: ▲ 6.06%
• 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

+49.1% since first listed

3 events — show timeline

• 2026-06-02 Listed $110,000 Metro Search MLS
• 2022-11-16 Sold (Public Records) $25,000 Public Records
• 2007-08-15 Sold (Public Records) $73,760 Public Records

Property tax history

+2.7%/yr

Latest (2025): $671 · -1.9% YoY. Source: county tax records.