2325 Duncan St · Louisville, KY 40212

$89,900

3 bd · 1.0 ba · 975 sqft · SingleFamily · 207 Days on market

Built 1900 3,049 sqft lot Est $67k · 34% over ↓ 10% since listing

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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 +29.2/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.1/10.0
• 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

INVESTORS! This property is currently rented with a 2-year lease to be assigned to a new owner. Charming 3-bedroom, 1-bath home in the heart of Louisville! Enjoy a bright living area, eat-in kitchen, and comfortable bedrooms with plenty of natural light. The home offers great flow and everyday functionality. Nice yard with room to garden or relax, plus off-street parking. Convenient location near schools, parks, and downtown. For leases, rent rolls, and additional information, please contact the listing agent.

Key facts

• Move-in ready
• Natural light
• Living area

Tags

• LIVING AREA
• EAT-IN KITCHEN
• NATURAL LIGHT
• OFF-STREET PARKING
• MOVE-IN READY

Property features AI

Finance

• Other: Subdivision: Portland
• HOA & community: No association fee

Exterior

• Parking: No designated parking
• Utilities: Electricity connected
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1900; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Lot approximately 0.07 acres

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Three bedrooms, all on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Five total rooms; Four closets; One fireplace (on the first floor); Basement: None
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 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).
• 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 $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $67,275
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1914 Lytle St	0.44mi	3/1.0	930 (-5%)	1mo	$104,000	$112	70
363 N 27th St	0.43mi	2/1.0 (-1)	972 (-0%)	6mo	$36,500	$38	70
2722 Slevin St	0.43mi	2/1.0 (-1)	984 (+1%)	5mo	$65,000	$66	69
1922 Bank St	0.40mi	2/1.0 (-1)	1,020 (+5%)	3mo	$110,950	$109	66
331 N 23rd St	0.11mi	2/1.0 (-1)	855 (-12%)	4mo	$105,000	$123	66
1814 Rowan St	0.49mi	2/1.0 (-1)	1,038 (+6%)	1mo	$30,200	$29	61
2214 Cedar St	0.51mi	2/1.0 (-1)	886 (-9%)	4mo	$46,000	$52	53
365 N 27th St	0.43mi	2/1.0 (-1)	1,093 (+12%)	6mo	$95,000	$87	50
1707 Baird St	0.65mi	2/1.0 (-1)	896 (-8%)	3mo	$45,000	$50	49
2419 Montgomery St	0.61mi	3/1.0	1,092 (+12%)	4mo	$92,000	$84	48
1729 Portland Ave	0.62mi	2/1.0 (-1)	1,072 (+10%)	2mo	$68,900	$64	48
2620 W Madison St	0.72mi	3/1.5	1,080 (+11%)	1mo	$74,000	$69	45

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: 34.2%
• Equity multiple: 3.63×
• Total profit: $66,188
• Equity at exit: $80,989

10-year hold

• IRR: 28.7%
• Equity multiple: 7.93×
• Total profit: $174,345
• Equity at exit: $174,656

Cash invested: $25,172 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$471
• Tax from tax record: −$35 /mo · $421/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $313

Break-even live

Break-even rent $689

Max offer price $89,900

Occupancy floor 66%

Sensitivity live

Price	-10% $363	-5% $338	+0% $313	+5% $287	+10% $262
Rent	-10% $227	-5% $270	+0% $313	+5% $355	+10% $398
Rate	-1.0pp $358	-0.5pp $335	base $313	+0.5pp $289	+1.0pp $266

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	24d	1	0.06mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	16d	1	0.06mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	24d	1	0.12mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	17d	1	0.13mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	4d	1	0.14mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	4d	4	0.22mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	4d	1	0.32mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	24d	1	0.41mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	24d	1	0.47mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	24d	1	0.53mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	21d	1	0.53mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	4d	1	0.53mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	24d	1	0.53mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	24d	1	0.55mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	4d	1	0.60mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	12d	1	0.60mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	16d	1	0.62mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	24d	1	0.62mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	24d	1	0.62mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	4d	4	0.62mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	24d	1	0.65mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	22d	1	0.65mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	24d	1	0.67mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	4d	1	0.69mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	0.70mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	24d	1	0.70mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	24d	1	0.70mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	16d	1	0.70mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	24d	1	0.75mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	0.84mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	24d	1	0.84mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	24d	1	0.87mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	24d	1	0.88mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	0.98mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	17d	1	1.04mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	16d	1	1.13mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	24d	1	1.17mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	24d	1	1.20mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	16d	1	1.22mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	1.23mi

Listing history 3 events

1. 2026-05-31
   days on market $89,900 Active 207 DOM
2. 2026-01-20
   price $89,900
3. 2025-11-05
   listed $99,900 Active

ⓘ 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: $421 · $35/mo
• Projected year-2 tax: $773 · $64/mo
• Expected delta: +$353/yr (+$29/mo · 83.8%)

ⓘ 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: $13,010
• − Mortgage interest: −$5,036
• − Property taxes: −$421
• − Insurance: −$450
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$2,615
• Taxable income: $2,408
• Est. tax owed @ 24.0%: −$578
• After-tax cash flow: $3,173/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

-10.0% since first listed

2 events — show timeline

• 2026-01-20 Price Changed $89,900 Metro Search MLS
• 2025-11-05 Listed $99,900 Metro Search MLS

Property tax history

+3.1%/yr

Latest (2025): $421 · -1.9% YoY. Source: county tax records.