3411 Rudd Ave · Louisville, KY 40212

$219,000

9 bd · 3.0 ba · 2,978 sqft · MultiFamily · 18 Days on market

Built 1900 5,207 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Calling Investors. 3 spacious units. LG&E is metered individually and water is one meter. 2 units on 1st floor and 1 unit on 2nd floor. Gas Laundry hook ups in all 3 units. Many parking spaces on the street. Seller is a Licensed Real Estate Agent in Kentucky.

Key facts

• New bathroom vanity
• Recent improvements
• Fresh interior paint

Tags

• INCOME PRODUCING TRIPLEX
• WELL MAINTAINED PROPERTY
• STRONG RENTAL HISTORY
• RECENT IMPROVEMENTS
• FRESH INTERIOR PAINT
• NEW BATHROOM VANITY

Property features AI

Finance

• Other: Lot dimensions approximately 26.3 x 198; Subdivision: Portland
• Financial info: First level rent listed as $750.00 for each of two units; Second level rent listed as $780.00 for one unit; Owner pays water and sewer; tenants pay cable, electric, and gas
• HOA & community: No association fee

Exterior

• Parking: No covered parking
• Utilities: Electricity connected; Owner pays water and sewer; Tenants pay cable, electric, and gas
• Home design: Triplex; Camelback architectural style; Facing information not provided; Entry level information not provided
• Construction: Built in 1900; Vinyl siding and wood frame construction; Shingle roof; No basement
• Exterior features: Balcony

Interior

• Kitchen: First level: two kitchens with ranges and refrigerators; Second level: one kitchen with range and refrigerator
• Bedrooms: Total of 9 bedrooms; First level units combined have 6 bedrooms; Second level unit has 3 bedrooms
• Bathrooms: Two full baths on the first level; One full bath on the second level
• Heating & cooling: Three furnaces (forced air, natural gas); Three HVAC units; Central air
• Interior features: Separate meters for units; Living rooms in each unit; Balcony
• Laundry & utility: First level: two laundry areas; Second level: one laundry area

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $219k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $413/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $216k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.1% 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 flat; 140 active listings in the ZIP; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 0.5% rent growth), your $61k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $175k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,715 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.54% ✓
• Cap rate: 13.08%
• Cash-on-cash: 24.24%
• DSCR: 2.08
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 4.10×
• Total profit: $189,929
• Equity at exit: $197,293

10-year hold

• IRR: 34.6%
• Equity multiple: 8.86×
• Total profit: $482,216
• Equity at exit: $425,469

Cash invested: $61,320 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,363 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$178 /mo · $2,142/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$706
• Net cashflow: $1,239

Break-even live

Break-even rent $1,795

Max offer price $219,000

Occupancy floor 58%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$3,363
Total (3 units)			$3,363

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $219,000 Active 18 DOM
2. 2026-06-17
   days on market $219,000 Active 17 DOM
3. 2026-06-16
   days on market $219,000 Active 16 DOM
4. 2026-06-15
   days on market $219,000 Active 15 DOM
5. 2026-06-13
   days on market $219,000 Active 13 DOM
6. 2026-06-10
   days on market $219,000 Active 10 DOM
7. 2026-06-09
   days on market $219,000 Active 9 DOM
8. 2026-06-08
   days on market $219,000 Active 8 DOM
9. 2026-06-07
   days on market $219,000 Active 7 DOM
10. 2026-06-03
    days on market $219,000 Active 3 DOM
11. 2026-06-02
    days on market $219,000 Active 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    listed $219,000 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: $2,142 · $178/mo
• Projected year-2 tax: $2,142 · $178/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 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,356
• − Mortgage interest: −$12,267
• − Property taxes: −$2,142
• − Insurance: −$1,095
• − Repairs & maintenance: −$3,228
• − Management: −$3,228
• − Depreciation: −$6,371
• Taxable income: $12,024
• Est. tax owed @ 24.0%: −$2,886
• After-tax cash flow: $11,977/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

+41.3% since first listed

12 events — show timeline

• 2026-05-31 Listed $219,000 Metro Search MLS
• 2023-10-31 Sold (MLS) $175,000 Metro Search MLS
• 2023-10-20 Pending — Metro Search MLS
• 2023-09-21 Contingent — Metro Search MLS
• 2023-08-11 Listed $179,900 Metro Search MLS
• 2022-12-20 Rental Removed — RENT.
• 2010-02-28 Listing Removed — Metro Search MLS
• 2008-02-26 Listed $134,900 Metro Search MLS
• 2008-02-26 Listing Removed — Metro Search MLS
• 2007-10-17 Listing Removed — Metro Search MLS
• 2007-10-09 Listed $155,000 Metro Search MLS
• 2006-02-24 Listed $155,000 Metro Search MLS

Property tax history

+6.5%/yr

Latest (2025): $2,142 · -1.9% YoY. Source: county tax records.