2909 Conestoga Ave · Louisville, KY 40210

$79,900

2 bd · 1.0 ba · 728 sqft · SingleFamily · 1 Days on market

Built 1942 5,632 sqft lot Est $100k · 20% under

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Why this score? — see what drove the A- 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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.6/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Great investment opportunity! This cozy solid-built two bed / 1 bath home has been an income-producing property for the last few years and could easily continue to do so for the next owner. Home does need some cosmetic updating but would make a great addition to your investment portfolio, or it could also make a great primary residence for someone willing to put in a little work to make it their own. Call today for your personal tour!

Key facts

• 5,632 sq ft lot
• Built 1942

Property features AI

Finance

• Other: Subdivision: Algonquin Place
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Single-family bungalow; One story; Built in 1942
• Construction: Vinyl siding and block construction; Shingle roof
• Exterior features: No fencing; Lot dimensions approx. 45 x 123

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms, both on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: Five total rooms; Unfinished basement with an additional room; Living room on the first floor
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 10.3% 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 (+8.1%/yr); 91 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k 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 + 8.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $79,900

Questions for the listing agent

1. Built in 1942 — 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: 1.26% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.41%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $100,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2811 Narragansett Dr	0.09mi	2/1.0	771 (+6%)	5mo	$115,500	$150	82
2611 Narragansett Dr	0.21mi	2/1.0	754 (+4%)	4mo	$152,900	$203	80
2601 Dixdale Ave	0.35mi	2/1.0	700 (-4%)	2mo	$106,000	$151	76
1936 S 28th St	0.35mi	2/1.0	708 (-3%)	8mo	$94,000	$133	72
2606 Dixdale Ave	0.36mi	2/1.0	700 (-4%)	6mo	$134,900	$193	72
3020 Penway Ave	0.34mi	2/1.0	700 (-4%)	10mo	$47,750	$68	69
3505 Hudson Ave	0.66mi	2/1.0	728 (0%)	1mo	$92,000	$126	68
2519 Standard Ave	0.55mi	2/1.0	783 (+8%)	1mo	$87,000	$111	61
3100 Southern Ave	0.37mi	2/1.0	816 (+12%)	9mo	$78,000	$96	55
3515 Bells Ln	0.73mi	2/1.0	700 (-4%)	7mo	$143,000	$204	54
2505 Bolling Ave	0.48mi	2/1.0	624 (-14%)	6mo	$65,000	$104	49
1814 W Lee St	0.67mi	3/1.0 (+1)	816 (+12%)	8mo	$112,500	$138	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 37.3%
• Equity multiple: 3.95×
• Total profit: $65,939
• Equity at exit: $71,980

10-year hold

• IRR: 33.9%
• Equity multiple: 9.67×
• Total profit: $193,875
• Equity at exit: $155,228

Cash invested: $22,372 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 91
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,005 high
• Mortgage (P&I): −$419
• Tax from tax record: −$73 /mo · $874/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $269

Break-even live

Break-even rent $665

Max offer price $79,900

Occupancy floor 68%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	16d	1	0.17mi
1927 S 28th St Louisville, KY	2.0	1.0	700	$1,200	$1.71	24d	1	0.32mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	12d	1	0.32mi
3005 Linwood Ave Louisville, KY	2.0	1.0	700	$1,025	$1.46	16d	1	0.34mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	24d	1	0.42mi
1836 Algonquin Pkwy Unit 1 Louisville, KY	1.0	1.0	650	$650	$1.00	15d	1	0.59mi
1836 Algonquin Pkwy Unit 2 Louisville, KY	1.0	1.0	600	$650	$1.08	24d	1	0.59mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	24d	1	0.60mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	3d	1	0.60mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	3d	1	0.60mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	24d	1	0.71mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,124	$1.39	2d	1	0.76mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	24d	1	0.86mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	24d	1	0.89mi
2016 S 40th St Louisville, KY	2.0	1.0	700	$980	$1.40	16d	1	1.01mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	3d	1	1.05mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	24d	1	1.16mi
1724 W Ormsby Ave #4 Louisville, KY	1.0	1.0	520	$750	$1.44	3d	1	1.23mi
2513 Date St Unit 2 Louisville, KY	1.0	1.0	700	$745	$1.06	3d	1	1.27mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	1.29mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	1.31mi
3515 W Kentucky St Unit 3515-12 Louisville, KY	1.0	1.0	700	$695	$0.99	24d	1	1.31mi

Listing history 2 events

1. 2026-06-17
   remarks 439-char remark
2. 2026-06-17
   listed $79,900 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: $874 · $73/mo
• Projected year-2 tax: $874 · $73/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 ≥104°F today · 19 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,058
• − Mortgage interest: −$4,476
• − Property taxes: −$874
• − Insurance: −$400
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$2,324
• Taxable income: $2,056
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $2,731/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

• 2026-06-17 Listed $79,900 Metro Search MLS

Property tax history

+6.9%/yr

Latest (2025): $874 · -1.9% YoY. Source: county tax records.