2620 Rowan St · Louisville, KY 40212

$104,900

2 bd · 1.0 ba · 960 sqft · SingleFamily · 8 Days on market

Built 1987 6,338 sqft lot

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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 +20.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Welcome to this cozy and well-maintained 2-bedroom home, offering comfort, convenience, and charm! Built in 1987 and located in the up-and-coming Portland area, this single-level home with no interior or exterior steps provides easy, functional living and convenient access to Interstate 64, the Norton Sports Complex, downtown Louisville, and a variety of local shopping and dining options. Inside, you'll find a spacious eat-in kitchen with ample cabinet space, perfect for everyday living. A separate laundry room adds to the home's functionality and convenience. Outside, enjoy the benefits of a one-car garage along with an additional storage shed, providing plenty of space for tools, hobbies,

Key facts

• One-car garage
• Single-level home
• 6,338 sq ft lot

Tags

• SINGLE-LEVEL HOME
• NO INTERIOR OR EXTERIOR STEPS
• SEPARATE LAUNDRY ROOM
• ONE-CAR GARAGE
• ADDITIONAL STORAGE SHED

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Detached 1-car garage
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; Shotgun-style architecture; One story; Entry and all living spaces on the first floor
• Construction: Built in 1987; Vinyl siding; Shingle roof; Slab foundation
• Exterior features: Wood and chain-link fencing; Sidewalks

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms located on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Five total rooms; No basement; First-floor primary bedroom
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $96k (8.6% below list).
• Recommended offer: $96k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 21d 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 32% 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 $11k of equity ($725 loan paydown + $10k 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 $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 28y ago; this cycle's ask has dropped $20k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $105k implies a 262% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $95,900 (8.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $66,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2722 Slevin St	0.28mi	2/1.0	984 (+2%)	5mo	$65,000	$66	78
363 N 27th St	0.43mi	2/1.0	972 (+1%)	6mo	$36,500	$38	73
2831 W Madison St	0.55mi	2/1.0	937 (-2%)	1mo	$108,000	$115	70
2511 Bank St	0.56mi	2/1.0	960 (0%)	6mo	$10,000	$10	69
216 N 25th St	0.19mi	2/1.0	840 (-12%)	6mo	$85,000	$101	65
3226 W Jefferson St	0.62mi	2/1.0	920 (-4%)	6mo	$48,000	$52	59
331 N 23rd St	0.44mi	2/1.0	855 (-11%)	4mo	$105,000	$123	58
2214 Cedar St	0.57mi	2/1.0	886 (-8%)	4mo	$46,000	$52	58
2230 Congress St	0.45mi	1/1.0 (-1)	856 (-11%)	2mo	$38,500	$45	54
1922 Bank St	0.73mi	2/1.0	1,020 (+6%)	3mo	$110,950	$109	53
365 N 27th St	0.44mi	2/1.0	1,093 (+14%)	6mo	$95,000	$87	52
2620 W Madison St	0.55mi	3/1.5 (+1)	1,080 (+12%)	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: 27.3%
• Equity multiple: 3.15×
• Total profit: $63,006
• Equity at exit: $94,502

10-year hold

• IRR: 23.2%
• Equity multiple: 6.95×
• Total profit: $174,663
• Equity at exit: $203,798

Cash invested: $29,372 (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: 9.1×

Monthly cashflow live

• Estimated rent: $959 high
• Mortgage (P&I): −$550
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $130

Break-even live

Break-even rent $795

Max offer price $104,900

Occupancy floor 81%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	23d	1	0.21mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.29mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	21d	1	0.29mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	11d	1	0.29mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	20d	1	0.29mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.29mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	23d	1	0.30mi
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	16d	1	0.30mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	3d	1	0.34mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	16d	1	0.35mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	23d	1	0.35mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	0.39mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.41mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	17d	1	0.46mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	3d	4	0.50mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	3d	1	0.52mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	23d	1	0.52mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	0.52mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	23d	1	0.52mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	23d	1	0.57mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	17d	1	0.61mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	23d	1	0.67mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	23d	1	0.67mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	3d	1	0.67mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	23d	1	0.68mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	21d	1	0.68mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	3d	1	0.68mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	23d	1	0.68mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	23d	1	0.68mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	23d	1	0.70mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	23d	1	0.75mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	0.75mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	3d	4	0.75mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	0.76mi
519 N 20th St Louisville, KY	1.0	1.0	550	$795	$1.45	23d	1	0.79mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	0.80mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	23d	1	0.81mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	16d	1	0.82mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	16d	1	0.83mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	0.84mi

Listing history 28 events

1. 2026-06-18
   days on market $104,900 Active 8 DOM
2. 2026-06-17
   days on market $104,900 Active 7 DOM
3. 2026-06-16
   days on market $104,900 Active 6 DOM
4. 2026-06-15
   days on market $104,900 Active 5 DOM
5. 2026-06-13
   pricedays on marketlisting id $104,900 Active 3 DOM
6. 2026-06-09
   days on market $111,100 Active 56 DOM
7. 2026-06-08
   days on market $111,100 Active 55 DOM
8. 2026-06-07
   days on market $111,100 Active 54 DOM
9. 2026-06-03
   days on market $111,100 Active 50 DOM
10. 2026-06-02
    days on market $111,100 Active 49 DOM
11. 2026-06-01
    days on market $111,100 Active 48 DOM
12. 2026-05-31
    days on market $111,100 Active 47 DOM
13. 2026-05-15
    price $111,100
14. 2026-04-24
    price $119,900
15. 2026-04-14
    listed $124,900 Active
16. 2025-05-06
    price $150,000
17. 2024-12-09
    historical
18. 2024-11-21
    price $137,000
19. 2024-10-15
    listed $142,500 Active
20. 2024-10-10
    historical
21. 2024-09-17
    listed $142,500 Active
22. 2014-01-07
    soldstatus $29,000
23. 2000-08-12
    historical
24. 2000-02-12
    listed $54,900
25. 1999-02-24
    soldstatus $45,000
26. 1998-08-18
    listed $49,900
27. 1998-08-05
    soldstatus $44,000
28. 1998-06-15
    listed $44,900

ⓘ 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: $408 · $34/mo
• Projected year-2 tax: $902 · $75/mo
• Expected delta: +$494/yr (+$41/mo · 120.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% 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: $11,508
• − Mortgage interest: −$5,876
• − Property taxes: −$408
• − Insurance: −$524
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$3,052
• Taxable loss: −$194
• Est. tax savings @ 24.0%: +$47
• After-tax cash flow: $1,604/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

+147.4% since first listed

16 events — show timeline

• 2026-05-15 Price Changed $111,100 Metro Search MLS
• 2026-04-24 Price Changed $119,900 Metro Search MLS
• 2026-04-14 Listed $124,900 Metro Search MLS
• 2025-05-06 Price Changed $150,000 Metro Search MLS
• 2024-12-09 Listing Removed — Metro Search MLS
• 2024-11-21 Price Changed $137,000 Metro Search MLS
• 2024-10-15 Listed $142,500 Metro Search MLS
• 2024-10-10 Listing Removed — Metro Search MLS
• 2024-09-17 Listed $142,500 Metro Search MLS
• 2014-01-07 Sold (Public Records) $29,000 Public Records
• 2000-08-12 Listing Removed — Metro Search MLS
• 2000-02-12 Listed $54,900 Metro Search MLS
• 1999-02-24 Sold (MLS) $45,000 Metro Search MLS
• 1998-08-18 Listed $49,900 Metro Search MLS
• 1998-08-05 Sold (MLS) $44,000 Metro Search MLS
• 1998-06-15 Listed $44,900 Metro Search MLS

Property tax history

+0.7%/yr

Latest (2025): $408 · -9.5% YoY. Source: county tax records.