4105 Chenoweth Run Rd · Louisville/Jefferson County metro government (balance), KY 40299

$189,900

4 bd · 2.0 ba · 2,000 sqft · SingleFamily · 4 Days on market

Built 1910 0.82 ac lot Est $324k · 41% 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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.2/10.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

HARD TO FIND PRICE IN THIS AREA! GREAT LOCATION!! NICE LOT . 82 ACRES. 4 BEDROOMS 2 BATHS BASEMENT. HOUSE NEEDS WORK! SOLD AS IS!! GREAT POTENTIAL! CASH/CONVENTIONAL ONLY!! EASY TO SHOW!

Key facts

• 0.82 acre lot
• Parking
• Built 1910

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; 2-story home; Built in 1910
• Construction: Vinyl siding; Shingle roof; Foundation: crawl space and poured concrete
• Exterior features: Partial wood fencing; Cleared, level lot (approximately 0.82 acres)

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 4 bedrooms total; Primary bedroom on the first floor; Three bedrooms on the second floor
• Bathrooms: 2 full bathrooms; Full bathrooms located on the second floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 7 total rooms; Unfinished basement
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 9.3% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+4.3%/yr); 228 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $6k 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 + 4.3% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $106k; list at $190k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1910 — 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. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $324,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4105 Chenoweth Run Rd	0.00mi	4/2.0	2,000 (0%)	1mo	$160,000	$80	99
4123 Willowview Blvd	0.35mi	4/2.0	2,035 (+2%)	6mo	$325,000	$160	76
4227 Willowview Blvd	0.24mi	3/2.5 (-1)	1,976 (-1%)	7mo	$310,000	$157	74
11411 Catalpa View Ct	0.35mi	4/2.0	2,073 (+4%)	11mo	$325,000	$157	68
11505 Magnolia View Ct	0.32mi	4/2.0	1,717 (-14%)	6mo	$290,000	$169	56
4405 Burgundy Dr	0.57mi	4/2.0	1,816 (-9%)	4mo	$307,500	$169	55
4031 Bolling Brook Dr	0.48mi	3/3.0 (-1)	2,105 (+5%)	10mo	$441,000	$210	51
10401 Mimosa View Ct	0.70mi	4/2.0	1,750 (-12%)	2mo	$320,000	$183	45
3907 Pinoak View Ct	0.62mi	3/2.0 (-1)	1,730 (-14%)	1mo	$309,500	$179	43
10910 Aspenview Ct	0.51mi	3/2.0 (-1)	2,255 (+13%)	9mo	$345,000	$153	42
4407 Burgundy Dr	0.57mi	3/2.0 (-1)	1,756 (-12%)	8mo	$285,000	$162	41
4205 Mimosa View Dr	0.63mi	3/2.0 (-1)	1,710 (-14%)	5mo	$275,000	$161	37

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $2,038
• Equity at exit: $28,315

10-year hold

• IRR: 11.8%
• Equity multiple: 1.99×
• Total profit: $52,499
• Equity at exit: $16,419

Cash invested: $53,172 (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 40299

• Rents YoY: 4.3%
• Active inventory: 228
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,136 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$142 /mo · $1,710/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $470

Break-even live

Break-even rent $1,541

Max offer price $189,900

Occupancy floor 73%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10717 Bayport Rd Louisville, KY	3.0	2.0	1660	$1,995	$1.20	23d	1	0.38mi
4118 Hickoryview Dr Louisville, KY	3.0	1.5	1456	$2,000	$1.37	15d	1	0.58mi
4007 Mimosa View Dr Louisville, KY	3.0	2.0	1720	$2,100	$1.22	23d	1	0.63mi
4006 Mimosa View Dr Louisville, KY	3.0	2.5	1652	$2,150	$1.30	14d	1	0.65mi

Listing history 3 events

1. 2026-05-15
   status Pending
2. 2026-05-11
   listed $189,900 Active
3. 2014-05-14
   soldstatus $106,500

ⓘ 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: $1,710 · $142/mo
• Projected year-2 tax: $1,710 · $142/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 4/10 Moderate 7 d/yr ≥105°F today · 20 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: $25,629
• − Mortgage interest: −$10,637
• − Property taxes: −$1,710
• − Insurance: −$950
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − Depreciation: −$5,524
• Taxable income: $2,707
• Est. tax owed @ 24.0%: −$650
• After-tax cash flow: $4,987/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 42,207
• Household income: $89,440
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 887.0

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 (79%)
• Race & ethnicity: White 79% Black 11% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, China, India
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -259.19%
• Current HPI: 220.9191
• Rent YoY: ▲ 4.34%
• 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

+78.3% since first listed

3 events — show timeline

• 2026-05-15 Pending — Metro Search MLS
• 2026-05-11 Listed $189,900 Metro Search MLS
• 2014-05-14 Sold (Public Records) $106,500 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,710 · +0.5% YoY. Source: county tax records.