502 Denmark St · Louisville, KY 40215

$134,900

3 bd · 1.0 ba · 1,156 sqft · SingleFamily · 12 Days on market

Built 1905 3,899 sqft lot Est $172k · 22% 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market and now better than ever! After taking some time for a few quick remodels, this home has never looked so beautiful. This 3BR/1BA has new flooring, new drywall, new tub and toilet in the bathroom, and the kitchen cabinets and counter tops have been replaced. There is also fresh paint throughout! Move-in ready with a covered porch, great space in the backyard, double front entry (perfect for roommates!), and stunning original fireplace mantles. Don't miss out, second chances like this are rare!

Key facts

• Covered front porch
• Near churchill downs
• Near dining

Tags

• COVERED FRONT PORCH
• BACKYARD SPACE
• NEAR CHURCHILL DOWNS
• NEAR UNIVERSITY OF LOUISVILLE
• NEAR SHOPPING
• NEAR DINING

Property features AI

Finance

• Other: Located in the Oakdale subdivision
• HOA & community: No association fee

Exterior

• Parking: See remarks for parking details
• Utilities: Natural gas available
• Home design: Single-family residence (Shotgun style); One story; Built in 1905
• Construction: Vinyl siding and wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Chain link fencing; Sidewalk on the lot

Interior

• Kitchen: First-floor kitchen
• Bedrooms: Three bedrooms, all on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; Five closets; Two fireplaces; Basement is a cellar
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 8.5% 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 (+5.2%/yr); 121 active listings in the ZIP; 40 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 38% of the median local income ($44k/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 $933 of loan paydown is wiped out by about $4k 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 + 5.2% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $135k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1905 — 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: 1.02% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $172,244
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
548 Camden Ave	0.23mi	3/1.0	1,100 (-5%)	2mo	$180,000	$164	79
550 Longfield Ave	0.23mi	3/1.0	1,096 (-5%)	2mo	$130,000	$119	79
545 Denmark St	0.11mi	3/2.0	1,040 (-10%)	4mo	$178,000	$171	71
824 Dresden Ave	0.32mi	4/2.0 (+1)	1,225 (+6%)	2mo	$173,000	$141	65
4116 S 3rd St	0.19mi	2/1.0 (-1)	1,011 (-12%)	4mo	$75,000	$74	62
4405 S 2nd St	0.44mi	3/2.0	1,075 (-7%)	2mo	$145,000	$135	62
547 Dresden Ave	0.19mi	2/2.0 (-1)	1,035 (-10%)	6mo	$167,500	$162	60
147 Mohawk Ave	0.75mi	3/1.0	1,189 (+3%)	4mo	$185,000	$156	57
3017 Rodman St	0.74mi	3/1.0	1,203 (+4%)	2mo	$142,500	$118	57
618 W Southern Heights Ave	0.47mi	2/1.0 (-1)	1,036 (-10%)	5mo	$152,500	$147	51
1000 Sale Ave	0.48mi	2/1.0 (-1)	1,010 (-13%)	4mo	$150,000	$149	48
4527 S 1st St	0.67mi	2/1.0 (-1)	1,050 (-9%)	4mo	$180,000	$171	45

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-3,294
• Equity at exit: $20,114

10-year hold

• IRR: 9.5%
• Equity multiple: 1.80×
• Total profit: $30,141
• Equity at exit: $11,664

Cash invested: $37,772 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 121
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$707
• Tax from tax record: −$82 /mo · $988/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $244

Break-even live

Break-even rent $1,071

Max offer price $134,900

Occupancy floor 77%

Sensitivity live

Price	-10% $320	-5% $282	+0% $244	+5% $206	+10% $168
Rent	-10% $135	-5% $189	+0% $244	+5% $298	+10% $353
Rate	-1.0pp $312	-0.5pp $278	base $244	+0.5pp $209	+1.0pp $173

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
551 Denmark St Louisville, KY	3.0	1.5	1160	$1,700	$1.47	24d	1	0.11mi
4007 Southern Pkwy Unit 1 Louisville, KY	4.0	1.0	1500	$1,395	$0.93	3d	1	0.14mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	24d	1	0.16mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	3d	1	0.18mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	24d	1	0.18mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	16d	1	0.18mi
310 W Kenton St Louisville, KY	3.0	2.0	1295	$1,350	$1.04	24d	1	0.23mi
4133 S 5th St Louisville, KY	4.0	1.0	1200	$1,435	$1.20	16d	1	0.27mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	12d	1	0.39mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	2d	1	0.39mi
114 E Florence Ave Apt 21 Louisville, KY	2.0	1.0	936	$1,275	$1.36	24d	1	0.58mi
114 E Florence Ave Unit 19 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	16d	1	0.58mi
4406 S Brook St Apt 27 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	12d	1	0.59mi
1118 W Whitney Ave Louisville, KY	2.0	1.0	771	$1,199	$1.56	24d	1	0.66mi
119 E Southern Heights Ave Louisville, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.66mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	16d	1	0.66mi
1022 Stanley Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	21d	1	0.77mi
2913 S 3rd St Louisville, KY	2.0	1.0	1026	$1,200	$1.17	24d	1	0.82mi
118 E Ashland Ave Louisville, KY	2.0	1.5	910	$1,200	$1.32	24d	1	0.87mi
1122 Larchmont Ave Unit B Louisville, KY	2.0	1.0	864	$750	$0.87	24d	1	0.89mi
1122 Larchmont Ave Louisville, KY	2.0	1.0	864	$750	$0.87	16d	1	0.89mi
4608 S 3rd St Unit 1st Floor Louisville, KY	2.0	1.5	1100	$1,500	$1.36	24d	1	0.89mi
3107 Montana Ave Louisville, KY	2.0	1.0	986	$995	$1.01	24d	1	0.89mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$895	$1.11	15d	3	0.91mi
508 M St Louisville, KY	2.0	1.5	1035	$1,100	$1.06	24d	1	0.91mi
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	24d	1	0.93mi
315 M St Unit 101 Louisville, KY	3.0	1.5	1200	$1,800	$1.50	12d	1	0.95mi
2718 S 3rd St Unit 1 Louisville, KY	2.0	1.0	1200	$1,400	$1.17	12d	1	0.98mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	16d	1	1.00mi
1120 Weller Ave Louisville, KY	2.0	1.0	912	$1,500	$1.64	3d	1	1.00mi
3655 Kahlert Ave Louisville, KY	2.0	1.0	915	$1,300	$1.42	12d	1	1.01mi
1522 Clara Ave Louisville, KY	3.0	2.0	1150	$1,150	$1.00	24d	1	1.05mi
4725 Southern Pkwy Unit 1 Louisville, KY	2.0	1.0	1296	$925	$0.71	3d	1	1.09mi
500 Montana Ave Louisville, KY	2.0	1.0	1191	$1,200	$1.01	15d	1	1.09mi
1301 Lillian Ave Louisville, KY	3.0	1.0	974	$1,250	$1.28	16d	1	1.09mi
1305 Larchmont Ave Louisville, KY	2.0	1.0	1113	$1,350	$1.21	16d	1	1.11mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	24d	1	1.12mi
3746 Kahlert Ave Louisville, KY	3.0	1.0	955	$1,350	$1.41	16d	1	1.13mi
3449 Powell Ave Louisville, KY	2.0	1.0	800	$1,000	$1.25	24d	1	1.14mi
104 Kenwood Ct Louisville, KY	2.0	1.0	875	$985	$1.13	24d	1	1.18mi

Listing history 10 events

1. 2026-06-18
   days on market $134,900 Active 12 DOM
2. 2026-06-17
   days on market $134,900 Active 11 DOM
3. 2026-06-16
   days on market $134,900 Active 10 DOM
4. 2026-06-15
   days on market $134,900 Active 9 DOM
5. 2026-06-13
   days on market $134,900 Active 7 DOM
6. 2026-06-10
   days on market $134,900 Active 4 DOM
7. 2026-06-09
   days on market $134,900 Active 3 DOM
8. 2026-06-08
   days on market $134,900 Active 2 DOM
9. 2026-06-07
   remarks 684-char remark
10. 2026-06-07
    listed $134,900 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: $988 · $82/mo
• Projected year-2 tax: $1,160 · $97/mo
• Expected delta: +$172/yr (+$14/mo · 17.4%)

ⓘ 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 · 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,555
• − Mortgage interest: −$7,556
• − Property taxes: −$988
• − Insurance: −$674
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$3,924
• Taxable income: $763
• Est. tax owed @ 24.0%: −$183
• After-tax cash flow: $2,744/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): 20,532
• Household income: $43,725
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 997.0

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 0.63)
• Race & ethnicity: White 51% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -119.35%
• Current HPI: 227.8248
• Rent YoY: ▲ 5.16%
• 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

+140.9% since first listed

22 events — show timeline

• 2026-06-06 Price Changed $134,900 Metro Search MLS
• 2026-06-06 Listed $149,900 Metro Search MLS
• 2023-07-11 Rental Removed — TURBOTENANT
• 2021-06-03 Sold (Public Records) $78,400 Public Records
• 2021-05-25 Sold (MLS) $78,400 Metro Search MLS
• 2021-04-15 Pending — Metro Search MLS
• 2021-03-26 Listed $89,900 Metro Search MLS
• 2021-03-10 Listing Removed — Metro Search MLS
• 2020-09-12 Listed $99,900 Metro Search MLS
• 2020-09-12 Price Changed $89,900 Metro Search MLS
• 2019-03-13 Sold (Public Records) $50,000 Public Records
• 2019-03-08 Sold (MLS) $50,000 Metro Search MLS
• 2019-02-20 Pending — Metro Search MLS
• 2019-02-06 Listed $59,900 Metro Search MLS
• 2007-01-08 Listing Removed — Metro Search MLS
• 2006-10-18 Listed $74,900 Metro Search MLS
• 2006-07-27 Sold (MLS) $35,000 Metro Search MLS
• 2006-06-17 Listed $47,500 Metro Search MLS
• 2006-06-07 Listing Removed — Metro Search MLS
• 2006-03-07 Listed $54,500 Metro Search MLS
• 2006-03-06 Listing Removed — Metro Search MLS
• 2005-09-06 Listed $56,000 Metro Search MLS

Property tax history

+5.0%/yr

Latest (2025): $988 · -1.9% YoY. Source: county tax records.