2521 Portland Ave · Louisville, KY 40212

$120,000

2 bd · 1.0 ba · 1,078 sqft · SingleFamily · 23 Days on market

Built 1910 Est $89k · 34% over

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Why this score? — see what drove the D+ 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 +16.7/30.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Check out this adorable home that the owners have taken great pride in. The home has lots of natural beauty with the beautiful columns upon entering the living room area to the original fireplace mantels throughout the home. This home has had a completely remodeled Kitchen and Bathroom including all new fixtures. Appliances will remain with this home as well. The 50 ft long space upstairs has so much potential to become another large bedroom or craft area. Don't wait too long on this one at this price it will go fast.

Key facts

• Attic space
• Built 1910
• Listed 23 days

Tags

• FULLY FENCED BACKYARD
• ATTIC SPACE
• ADDITIONAL LIVING AREA

Property features AI

Exterior

• Home design: Built in 1910
• Construction: Living area approximately 1,078
• Exterior features: Located in the Portland neighborhood

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $76 ($908/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (11.4% below list).
• Recommended offer: $106k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $81k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $106,333 (11.4% below list)

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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $89,474
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2419 Montgomery St	0.13mi	3/1.0 (+1)	1,092 (+1%)	4mo	$92,000	$84	83
365 N 27th St	0.28mi	2/1.0	1,093 (+1%)	6mo	$95,000	$87	80
2618 Cornwall St	0.15mi	2/1.0	1,024 (-5%)	7mo	$85,000	$83	79
427 N 28th St	0.34mi	2/1.0	1,166 (+8%)	3mo	$70,000	$60	68
2511 Bank St	0.19mi	2/1.0	960 (-11%)	6mo	$10,000	$10	68
363 N 27th St	0.28mi	2/1.0	972 (-10%)	6mo	$36,500	$38	66
3304 Bank St	0.63mi	2/1.0	1,020 (-5%)	2mo	$131,000	$128	60
1922 Bank St	0.63mi	2/1.0	1,020 (-5%)	3mo	$110,950	$109	59
2722 Slevin St	0.48mi	2/1.0	984 (-9%)	5mo	$65,000	$66	59
404 N 20th St	0.64mi	3/1.0 (+1)	1,050 (-3%)	7mo	$45,000	$43	55
1914 Lytle St	0.63mi	3/1.0 (+1)	930 (-14%)	1mo	$104,000	$112	41
1905 Lytle St	0.66mi	3/1.0 (+1)	953 (-12%)	7mo	$60,000	$63	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: 25.4%
• Equity multiple: 3.01×
• Total profit: $67,552
• Equity at exit: $108,106

10-year hold

• IRR: 21.8%
• Equity multiple: 6.66×
• Total profit: $190,336
• Equity at exit: $233,134

Cash invested: $33,600 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,063 high
• Mortgage (P&I): −$629
• Tax from tax record: −$85 /mo · $1,021/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $76

Break-even live

Break-even rent $968

Max offer price $120,000

Occupancy floor 88%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	3d	4	0.07mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	23d	1	0.13mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	3d	1	0.24mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	3d	1	0.28mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.28mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	23d	1	0.33mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	17d	1	0.35mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	3d	1	0.42mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	0.48mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	23d	1	0.48mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	16d	1	0.49mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	17d	1	0.52mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	0.55mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	0.56mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	23d	1	0.60mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	23d	1	0.60mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	0.63mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	3d	1	0.65mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	23d	1	0.71mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	3d	4	0.73mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	23d	1	0.75mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	11d	1	0.77mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	23d	1	0.82mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	23d	1	0.89mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	16d	1	0.89mi
500 N 17th St Unit 305 Louisville, KY	1.0	1.0	825	$1,100	$1.33	23d	1	0.89mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	0.90mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.95mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	23d	1	0.95mi
214 N 17th St Unit 2 Louisville, KY	1.0	1.0	800	$750	$0.94	14d	1	0.95mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	23d	1	0.98mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	23d	1	1.01mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	23d	1	1.06mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	16d	1	1.10mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	23d	1	1.13mi
1622 W Market St Apt 104 Louisville, KY	1.0	1.5	771	$965	$1.25	23d	1	1.16mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	23d	1	1.17mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	1.18mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	23d	1	1.18mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	23d	1	1.18mi

Listing history 21 events

1. 2026-06-18
   days on market $120,000 Active 23 DOM
2. 2026-06-17
   days on market $120,000 Active 22 DOM
3. 2026-06-16
   days on market $120,000 Active 21 DOM
4. 2026-06-15
   days on market $120,000 Active 20 DOM
5. 2026-06-13
   days on market $120,000 Active 18 DOM
6. 2026-06-10
   days on market $120,000 Active 15 DOM
7. 2026-06-09
   days on market $120,000 Active 14 DOM
8. 2026-06-08
   days on market $120,000 Active 13 DOM
9. 2026-06-07
   days on market $120,000 Active 12 DOM
10. 2026-06-03
    days on market $120,000 Active 8 DOM
11. 2026-06-02
    days on market $120,000 Active 7 DOM
12. 2026-06-01
    days on market $120,000 Active 6 DOM
13. 2026-05-31
    days on market $120,000 Active 5 DOM
14. 2026-05-26
    listed $120,000 Active
15. 2021-04-14
    soldstatus $81,000
16. 2021-04-09
    soldstatus $81,000 Closed 523-char remark

    Show marketing remark (523 chars)

    Check out this adorable home that the owners have taken great pride in. The home has lots of natural beauty with the beautiful columns upon entering the living room area to the original fireplace mantels throughout the home. This home has had a completely remodeled Kitchen and Bathroom including all new fixtures. Appliances will remain with this home as well. The 50 ft long space upstairs has so much potential to become another large bedroom or craft area. Don't wait too long on this one at this price it will go fast.

17. 2021-03-08
    historical 523-char remark

    Show marketing remark (523 chars)

    Check out this adorable home that the owners have taken great pride in. The home has lots of natural beauty with the beautiful columns upon entering the living room area to the original fireplace mantels throughout the home. This home has had a completely remodeled Kitchen and Bathroom including all new fixtures. Appliances will remain with this home as well. The 50 ft long space upstairs has so much potential to become another large bedroom or craft area. Don't wait too long on this one at this price it will go fast.

18. 2021-03-07
    listed $81,000 523-char remark

    Show marketing remark (523 chars)

    Check out this adorable home that the owners have taken great pride in. The home has lots of natural beauty with the beautiful columns upon entering the living room area to the original fireplace mantels throughout the home. This home has had a completely remodeled Kitchen and Bathroom including all new fixtures. Appliances will remain with this home as well. The 50 ft long space upstairs has so much potential to become another large bedroom or craft area. Don't wait too long on this one at this price it will go fast.

19. 2018-08-23
    soldstatus $27,500 Closed 29-char remark

    Show marketing remark (29 chars)

    Clean and ready for new owner

20. 2018-08-18
    historical 29-char remark

    Show marketing remark (29 chars)

    Clean and ready for new owner

21. 2018-08-14
    listed $27,500 29-char remark

    Show marketing remark (29 chars)

    Clean and ready for new owner

ⓘ 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: $1,021 · $85/mo
• Projected year-2 tax: $1,032 · $86/mo
• Expected delta: +$11/yr (+$1/mo · 1.1%)

ⓘ 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 ≥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: $12,760
• − Mortgage interest: −$6,722
• − Property taxes: −$1,021
• − Insurance: −$600
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$3,491
• Taxable loss: −$1,115
• Est. tax savings @ 24.0%: +$268
• After-tax cash flow: $1,176/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

+336.4% since first listed

8 events — show timeline

• 2026-05-26 Listed $120,000 FSBO.com
• 2021-04-14 Sold (Public Records) $81,000 Public Records
• 2021-04-09 Sold (MLS) $81,000 Metro Search MLS
• 2021-03-08 Listing Removed — Metro Search MLS
• 2021-03-07 Listed $81,000 Metro Search MLS
• 2018-08-23 Sold (MLS) $27,500 Metro Search MLS
• 2018-08-18 Listing Removed — Metro Search MLS
• 2018-08-14 Listed $27,500 Metro Search MLS

Property tax history

+18.5%/yr

Latest (2025): $1,021 · -1.9% YoY. Source: county tax records.