2745 Bank St · Louisville, KY 40212

$69,500

2 bd · 1.0 ba · 1,124 sqft · SingleFamily · 10 Days on market

Built 1900 4,796 sqft lot Est $93k · 26% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Calling all investors, flippers, or buyers looking for an opportunity! This 2 bedroom, 1 bath home needs some TLC but offers plenty of potential. Seller is offering $10,000 at closing toward renovations, or the option of $5,000 in renovations and $5,000 in concessions — giving buyers flexibility to make this home their own. Owen is also listing agent.

Key facts

• 4,796 sq ft lot
• Built 1900
• Listed 10 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: No designated parking
• Utilities: Electricity connected; One HVAC unit
• Home design: Single-family residence; Shotgun-style architecture; Single-story (1 story)
• Construction: Built in 1900; Wood frame construction; Shingle roof; Above-grade finished area 1,124
• Exterior features: Lot is approximately 0.11 acres; Subdivision: PORTLAND

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating; Wall/window cooling unit(s)
• Interior features: Cellar basement; Living room on the first floor; Total of 6 rooms
• Laundry & utility: Laundry room on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.4% 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+, crime 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: Portland Elementary (math 2% / reading 12%, grade F, #662 of 676 statewide, top 99%, 241 students, 88% FRL); Kammerer Middle (math 21% / reading 42%, grade F, #125 of 217 statewide, top 63%, 720 students, 52% FRL).
• Market conditions: Rents flat; 141 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 36% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($481 loan paydown + $7k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $15k; list at $70k implies a 363% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; 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 $69,500

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.55% ✓
• Cap rate: 13.38%
• Cash-on-cash: 25.32%
• DSCR: 2.13
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $93,292
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 N 28th St	0.19mi	2/1.0	1,166 (+4%)	3mo	$70,000	$60	82
365 N 27th St	0.21mi	2/1.0	1,093 (-3%)	6mo	$95,000	$87	81
2647 Alford Ave	0.39mi	3/1.0 (+1)	1,117 (-1%)	8mo	$119,900	$107	69
2419 Montgomery St	0.42mi	3/1.0 (+1)	1,092 (-3%)	4mo	$92,000	$84	68
3304 Bank St	0.36mi	2/1.0	1,020 (-9%)	2mo	$131,000	$128	66
2618 Cornwall St	0.30mi	2/1.0	1,024 (-9%)	7mo	$85,000	$83	65
2619 Bank St	0.19mi	2/1.0	1,280 (+14%)	5mo	$105,000	$82	64
363 N 27th St	0.21mi	2/1.0	972 (-14%)	6mo	$36,500	$38	63
2722 Slevin St	0.34mi	2/1.0	984 (-12%)	5mo	$65,000	$66	59
3007 Duncan St	0.55mi	2/1.0	1,220 (+8%)	5mo	$45,000	$37	56
2511 Bank St	0.38mi	2/1.0	960 (-15%)	6mo	$10,000	$10	53
2405 Griffiths Ave	0.52mi	2/2.0	960 (-15%)	10mo	$139,050	$145	39

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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 38.8%
• Equity multiple: 3.94×
• Total profit: $57,167
• Equity at exit: $62,611

10-year hold

• IRR: 32.5%
• Equity multiple: 8.52×
• Total profit: $146,365
• Equity at exit: $135,023

Cash invested: $19,460 (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: 141
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,076 high
• Mortgage (P&I): −$364
• Tax from tax record: −$46 /mo · $554/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $344

Break-even live

Break-even rent $641

Max offer price $69,500

Occupancy floor 63%

Sensitivity live

Price	-10% $383	-5% $364	+0% $344	+5% $324	+10% $305
Rent	-10% $259	-5% $302	+0% $344	+5% $387	+10% $429
Rate	-1.0pp $379	-0.5pp $362	base $344	+0.5pp $326	+1.0pp $308

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	5d	1	0.06mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	0.21mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	25d	1	0.22mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	17d	1	0.22mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.23mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	0.27mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	25d	1	0.28mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	5d	4	0.31mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	25d	1	0.32mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	5d	1	0.36mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	5d	1	0.41mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	5d	1	0.50mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	17d	1	0.58mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	13d	1	0.61mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.64mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	18d	1	0.66mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	25d	1	0.67mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	0.71mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.76mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	17d	1	0.84mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	5d	4	0.85mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	5d	1	0.86mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.87mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	25d	1	0.88mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	25d	1	0.91mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.97mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	25d	1	0.98mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	21d	1	1.01mi
3910 Garfield Ave Louisville, KY	2.0	1.0	872	$1,035	$1.19	5d	1	1.03mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	1.07mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	21d	1	1.09mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	25d	1	1.11mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	17d	1	1.11mi
500 N 17th St Unit 305 Louisville, KY	1.0	1.0	825	$1,100	$1.33	25d	1	1.11mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	5d	1	1.12mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	1.13mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	1.14mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	18d	1	1.14mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	25d	1	1.14mi
110 Hansbrough Pl Unit 101 Louisville, KY	2.0	1.0	924	$1,080	$1.17	25d	1	1.14mi

Listing history 7 events

1. 2026-06-21
   days on market $69,500 Active 10 DOM
2. 2026-06-18
   days on market $69,500 Active 7 DOM
3. 2026-06-17
   days on market $69,500 Active 6 DOM
4. 2026-06-16
   days on market $69,500 Active 5 DOM
5. 2026-06-15
   days on market $69,500 Active 4 DOM
6. 2026-06-13
   remarks 353-char remark
7. 2026-06-13
   listed $69,500 Active 2 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: $554 · $46/mo
• Projected year-2 tax: $598 · $50/mo
• Expected delta: +$43/yr (+$4/mo · 7.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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: $12,914
• − Mortgage interest: −$3,893
• − Property taxes: −$554
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$2,022
• Taxable income: $3,233
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $3,353/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

+110.4% since first listed

3 events — show timeline

• 2026-06-09 Listed $69,500 Metro Search MLS
• 2016-08-15 Sold (Public Records) $15,000 Public Records
• 2006-12-29 Sold (Public Records) $33,040 Public Records

Property tax history

+5.0%/yr

Latest (2025): $554 · -1.9% YoY. Source: county tax records.