5001 Marina Cv · Louisville/Jefferson County metro government (balance), KY 40059

$435,000

4 bd · 3.5 ba · 2,872 sqft · Condo · 56 Days on market

Built 1983 $716/mo HOA · 13% of rent

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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 +21.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +6.9/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very elusive 4 bedroom 3 full and one 1/2 bath condo. This unit works and feels like a single family home. You won't need to give up much if you are downsizing to a condo. The corner unit looks out on green space and the water view from the screen porch is very relaxing. Just freshly updated with all new flooring, paint (2) HVAC's and many other improvements make this a move in ready home. 1st floor primary suite with an updated bath, double vanities, fireplace and walk-in closet. Two large bedrooms on the 2nd floor with another double vanity updated bath. Separate living and dining rooms flank the entry hall. A large family room with another fireplace has access to the screen porch. The updated galley style kitchen has a bay window dining area. The lower level has a durable epoxy finish on the floor, a good sized family room and the 4th bedroom with direct access to a full bath. The lower bedroom has access to the lower patio. Two car garage on the lower level wired for two electric vehicle chargers.

Key facts

• Fitness center
• Two on-site lakes
• Clubhouse

Tags

• RENOVATED CORNER CONDO
• MARINA ACCESS
• SWIMMING POOL
• CLUBHOUSE
• FITNESS CENTER
• TWO ON-SITE LAKES

Property features AI

Finance

• Other: Part of a 168-unit condominium building (building #5001); Building has two floors and 2,872 total living area with 2,272 above-grade finished
• HOA & community: Homeowners association with clubhouse, fitness center and pool; Monthly maintenance fee applies (maintenance includes exterior maintenance, groundskeeping, master insurance, sewer, snow removal, trash and water)

Exterior

• Parking: Attached garage with rear entry on lower level; Two garage spaces (garage parking)
• Utilities: Electricity connected; Natural gas; Sewer and water included in association maintenance
• Home design: Condominium (residential); Two stories; Location in building: 1; Architectural style: Other
• Construction: Built in 1983; Wood frame construction; Shingle roof; Poured concrete foundation
• Exterior features: Tennis court(s); Balcony; Corner lot; Located on a dead-end

Interior

• Kitchen: Kitchen on the first floor; Dining area adjacent to the kitchen
• Bedrooms: Primary bedroom on the first floor; Four bedrooms total (one on first floor, two on second floor, one in basement); Basement bedroom with three closets
• Bathrooms: Three full bathrooms (one full bathroom in basement); One half bathroom on the first floor; Primary bathroom on the first floor
• Heating & cooling: Two HVAC units; Forced air and mini-split/ductless heating; Natural gas heating; Central air conditioning; Tankless water heater
• Interior features: Two fireplaces; Basement with outside entry and partial walkout finish; Nine closets; Nine total rooms (13 rooms listed overall); Great room and living room on the first floor; Dining room on the first floor
• Laundry & utility: First-floor laundry; In-unit laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $435k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $435k).
• Recommended offer: $422k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+4.8%/yr); 242 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 42% of the median local income ($153k/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 $3k of loan paydown is wiped out by about $13k 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.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $421,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.81% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-22,981
• Equity at exit: $64,860

10-year hold

• IRR: 7.1%
• Equity multiple: 1.59×
• Total profit: $71,749
• Equity at exit: $37,611

Cash invested: $121,800 (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 40059

• Rents YoY: 4.8%
• Active inventory: 242
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $5,323 medium
• Mortgage (P&I): −$2,281
• Tax from tax record: −$377 /mo · $4,520/yr
• Insurance: −$181
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$716
• Vacancy / Maint / Mgmt: −$1,118
• Net cashflow: $584

Break-even live

Break-even rent $4,584

Max offer price $435,000

Occupancy floor 84%

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5304 Wolfpen Woods Dr Prospect, KY	4.0	2.5	2732	$3,500	$1.28	15d	1	1.11mi
7703 Wolfpen Ridge Dr Prospect, KY	4.0	3.5	4100	$4,195	$1.02	3d	1	1.38mi
301 S Front St Unit 1354354P Jeffersonville, IN	5.0	3.0	2949	$10,745	$3.64	43d	1	1.39mi

HOA detail condo

• Monthly dues: $716 · $8,592/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $435,000 Active 56 DOM
2. 2026-06-17
   days on market $435,000 Active 55 DOM
3. 2026-06-16
   days on market $435,000 Active 54 DOM
4. 2026-06-15
   days on market $435,000 Active 53 DOM
5. 2026-06-13
   days on market $435,000 Active 51 DOM
6. 2026-06-10
   days on market $435,000 Active 48 DOM
7. 2026-06-09
   days on market $435,000 Active 47 DOM
8. 2026-06-08
   days on market $435,000 Active 46 DOM
9. 2026-06-07
   days on market $435,000 Active 45 DOM
10. 2026-06-03
    days on market $435,000 Active 41 DOM
11. 2026-06-02
    pricedays on market $435,000 Active 40 DOM
12. 2026-06-01
    days on market $445,000 Active 39 DOM
13. 2026-05-31
    days on market $445,000 Active 38 DOM
14. 2026-04-23
    listed $445,000 Active
15. 2024-08-12
    soldstatus $405,000
16. 2024-07-23
    soldstatus $405,000 Closed 1018-char remark

    Show marketing remark (1018 chars)

    Very elusive 4 bedroom 3 full and one 1/2 bath condo. This unit works and feels like a single family home. You won't need to give up much if you are downsizing to a condo. The corner unit looks out on green space and the water view from the screen porch is very relaxing. Just freshly updated with all new flooring, paint (2) HVAC's and many other improvements make this a move in ready home. 1st floor primary suite with an updated bath, double vanities, fireplace and walk-in closet. Two large bedrooms on the 2nd floor with another double vanity updated bath. Separate living and dining rooms flank the entry hall. A large family room with another fireplace has access to the screen porch. The updated galley style kitchen has a bay window dining area. The lower level has a durable epoxy finish on the floor, a good sized family room and the 4th bedroom with direct access to a full bath. The lower bedroom has access to the lower patio. Two car garage on the lower level wired for two electric vehicle chargers.

17. 2024-06-24
    status Pending 1018-char remark

    Show marketing remark (1018 chars)

    Very elusive 4 bedroom 3 full and one 1/2 bath condo. This unit works and feels like a single family home. You won't need to give up much if you are downsizing to a condo. The corner unit looks out on green space and the water view from the screen porch is very relaxing. Just freshly updated with all new flooring, paint (2) HVAC's and many other improvements make this a move in ready home. 1st floor primary suite with an updated bath, double vanities, fireplace and walk-in closet. Two large bedrooms on the 2nd floor with another double vanity updated bath. Separate living and dining rooms flank the entry hall. A large family room with another fireplace has access to the screen porch. The updated galley style kitchen has a bay window dining area. The lower level has a durable epoxy finish on the floor, a good sized family room and the 4th bedroom with direct access to a full bath. The lower bedroom has access to the lower patio. Two car garage on the lower level wired for two electric vehicle chargers.

18. 2024-06-15
    historical Active Under Contract 1018-char remark

    Show marketing remark (1018 chars)

    Very elusive 4 bedroom 3 full and one 1/2 bath condo. This unit works and feels like a single family home. You won't need to give up much if you are downsizing to a condo. The corner unit looks out on green space and the water view from the screen porch is very relaxing. Just freshly updated with all new flooring, paint (2) HVAC's and many other improvements make this a move in ready home. 1st floor primary suite with an updated bath, double vanities, fireplace and walk-in closet. Two large bedrooms on the 2nd floor with another double vanity updated bath. Separate living and dining rooms flank the entry hall. A large family room with another fireplace has access to the screen porch. The updated galley style kitchen has a bay window dining area. The lower level has a durable epoxy finish on the floor, a good sized family room and the 4th bedroom with direct access to a full bath. The lower bedroom has access to the lower patio. Two car garage on the lower level wired for two electric vehicle chargers.

19. 2024-06-06
    listed $439,900 Active 1018-char remark

    Show marketing remark (1018 chars)

    Very elusive 4 bedroom 3 full and one 1/2 bath condo. This unit works and feels like a single family home. You won't need to give up much if you are downsizing to a condo. The corner unit looks out on green space and the water view from the screen porch is very relaxing. Just freshly updated with all new flooring, paint (2) HVAC's and many other improvements make this a move in ready home. 1st floor primary suite with an updated bath, double vanities, fireplace and walk-in closet. Two large bedrooms on the 2nd floor with another double vanity updated bath. Separate living and dining rooms flank the entry hall. A large family room with another fireplace has access to the screen porch. The updated galley style kitchen has a bay window dining area. The lower level has a durable epoxy finish on the floor, a good sized family room and the 4th bedroom with direct access to a full bath. The lower bedroom has access to the lower patio. Two car garage on the lower level wired for two electric vehicle chargers.

20. 2023-06-29
    soldstatus $344,000 Closed 1230-char remark

    Show marketing remark (1230 chars)

    Fantastic condo located in one of the prettiest condo communities in Prospect! Beautifully landscaped green spaces throughout! This exceptional end-unit condo has an abundance of park-like green space, as well as a lake, right outside its door! Community offers fishing ponds, pool, clubhouse, and access to docks and marina. So many wonderful amenities! This condo has a first-floor primary suite with updated bathroom and walk-in closet. Large great room with fireplace opens to a beautiful vaulted screened porch which overlooks the lake. Updated eat-in kitchen features recent stainless appliances, granite countertops and tile backsplash. There is also a large formal living room, dining room & half bath all on the first floor! Accepted contract with 24-hour first right of refusal. Upstairs features two roomy bedrooms and a large full bath. The lower level has a family room, large 4th bedroom and 3rd full bath with its own private entrance from outside. A large laundry room and two-car garage complete the lower level. Maintenance fees are based on square footage and covers Water, Trash, Sewage, Roof and Siding maintenance/replacement, Flood Insurance, Pool, Clubhouse, Landscaping and all amenities.

21. 2023-06-16
    status Pending 1230-char remark

    Show marketing remark (1230 chars)

    Fantastic condo located in one of the prettiest condo communities in Prospect! Beautifully landscaped green spaces throughout! This exceptional end-unit condo has an abundance of park-like green space, as well as a lake, right outside its door! Community offers fishing ponds, pool, clubhouse, and access to docks and marina. So many wonderful amenities! This condo has a first-floor primary suite with updated bathroom and walk-in closet. Large great room with fireplace opens to a beautiful vaulted screened porch which overlooks the lake. Updated eat-in kitchen features recent stainless appliances, granite countertops and tile backsplash. There is also a large formal living room, dining room & half bath all on the first floor! Accepted contract with 24-hour first right of refusal. Upstairs features two roomy bedrooms and a large full bath. The lower level has a family room, large 4th bedroom and 3rd full bath with its own private entrance from outside. A large laundry room and two-car garage complete the lower level. Maintenance fees are based on square footage and covers Water, Trash, Sewage, Roof and Siding maintenance/replacement, Flood Insurance, Pool, Clubhouse, Landscaping and all amenities.

22. 2023-03-24
    price $349,900 1230-char remark

    Show marketing remark (1230 chars)

    Fantastic condo located in one of the prettiest condo communities in Prospect! Beautifully landscaped green spaces throughout! This exceptional end-unit condo has an abundance of park-like green space, as well as a lake, right outside its door! Community offers fishing ponds, pool, clubhouse, and access to docks and marina. So many wonderful amenities! This condo has a first-floor primary suite with updated bathroom and walk-in closet. Large great room with fireplace opens to a beautiful vaulted screened porch which overlooks the lake. Updated eat-in kitchen features recent stainless appliances, granite countertops and tile backsplash. There is also a large formal living room, dining room & half bath all on the first floor! Accepted contract with 24-hour first right of refusal. Upstairs features two roomy bedrooms and a large full bath. The lower level has a family room, large 4th bedroom and 3rd full bath with its own private entrance from outside. A large laundry room and two-car garage complete the lower level. Maintenance fees are based on square footage and covers Water, Trash, Sewage, Roof and Siding maintenance/replacement, Flood Insurance, Pool, Clubhouse, Landscaping and all amenities.

23. 2023-03-24
    price $369,900 1230-char remark

    Show marketing remark (1230 chars)

    Fantastic condo located in one of the prettiest condo communities in Prospect! Beautifully landscaped green spaces throughout! This exceptional end-unit condo has an abundance of park-like green space, as well as a lake, right outside its door! Community offers fishing ponds, pool, clubhouse, and access to docks and marina. So many wonderful amenities! This condo has a first-floor primary suite with updated bathroom and walk-in closet. Large great room with fireplace opens to a beautiful vaulted screened porch which overlooks the lake. Updated eat-in kitchen features recent stainless appliances, granite countertops and tile backsplash. There is also a large formal living room, dining room & half bath all on the first floor! Accepted contract with 24-hour first right of refusal. Upstairs features two roomy bedrooms and a large full bath. The lower level has a family room, large 4th bedroom and 3rd full bath with its own private entrance from outside. A large laundry room and two-car garage complete the lower level. Maintenance fees are based on square footage and covers Water, Trash, Sewage, Roof and Siding maintenance/replacement, Flood Insurance, Pool, Clubhouse, Landscaping and all amenities.

24. 2023-03-23
    listed $389,900 Active 1230-char remark

    Show marketing remark (1230 chars)

    Fantastic condo located in one of the prettiest condo communities in Prospect! Beautifully landscaped green spaces throughout! This exceptional end-unit condo has an abundance of park-like green space, as well as a lake, right outside its door! Community offers fishing ponds, pool, clubhouse, and access to docks and marina. So many wonderful amenities! This condo has a first-floor primary suite with updated bathroom and walk-in closet. Large great room with fireplace opens to a beautiful vaulted screened porch which overlooks the lake. Updated eat-in kitchen features recent stainless appliances, granite countertops and tile backsplash. There is also a large formal living room, dining room & half bath all on the first floor! Accepted contract with 24-hour first right of refusal. Upstairs features two roomy bedrooms and a large full bath. The lower level has a family room, large 4th bedroom and 3rd full bath with its own private entrance from outside. A large laundry room and two-car garage complete the lower level. Maintenance fees are based on square footage and covers Water, Trash, Sewage, Roof and Siding maintenance/replacement, Flood Insurance, Pool, Clubhouse, Landscaping and all amenities.

25. 2018-01-25
    soldstatus $225,000 Closed
26. 2017-11-28
    status Pending
27. 2017-11-16
    listed $235,000 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: $4,520 · $377/mo
• Projected year-2 tax: $4,520 · $377/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,878
• − Mortgage interest: −$24,367
• − Property taxes: −$4,520
• − Insurance: −$2,972
• − Repairs & maintenance: −$5,110
• − Management: −$5,110
• − HOA: −$8,592
• − Depreciation: −$12,655
• Taxable income: $552
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $6,873/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 20,892
• Household income: $152,727
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 255.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 4% Two or more races 4% Black 4% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Italian 3% Romanian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 3% Chinese 1% 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: ▼ -159.22%
• Current HPI: 229.5964
• Rent YoY: ▲ 4.81%
• 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

+89.4% since first listed

14 events — show timeline

• 2026-04-23 Listed $445,000 Metro Search MLS
• 2024-08-12 Sold (Public Records) $405,000 Public Records
• 2024-07-23 Sold (MLS) $405,000 Metro Search MLS
• 2024-06-24 Pending — Metro Search MLS
• 2024-06-15 Contingent — Metro Search MLS
• 2024-06-06 Listed $439,900 Metro Search MLS
• 2023-06-29 Sold (MLS) $344,000 Metro Search MLS
• 2023-06-16 Pending — Metro Search MLS
• 2023-03-24 Price Changed $369,900 Metro Search MLS
• 2023-03-24 Price Changed $349,900 Metro Search MLS
• 2023-03-23 Listed $389,900 Metro Search MLS
• 2018-01-25 Sold (MLS) $225,000 Metro Search MLS
• 2017-11-28 Pending — Metro Search MLS
• 2017-11-16 Listed $235,000 Metro Search MLS

Property tax history

+9.4%/yr

Latest (2025): $4,520 · +15.5% YoY. Source: county tax records.