1115 Plato Ter · Louisville, KY 40211

$49,900

2 bd · 1.0 ba · 700 sqft · SingleFamily · 60 Days on market

Built 1950 6,098 sqft lot Est $78k · 36% under ↓ 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This home is a 2 bedroom 1 bath with unfinished basement. Home has a living room, kitchen and full bath on the main level. Home is in need of repairs. Subject to court approval with 60-90 day closing. The property will be sold in ''as-is'' ''where-is'' condition.

Key facts

• 6,098 sq ft lot
• Built 1950
• Listed 60 days

Property features AI

Finance

• HOA & community: No monthly maintenance; No association fee

Exterior

• Utilities: Electricity connected; Natural gas service
• Home design: Single-family ranch-style home; One story; Built in 1950; 700 above-grade finished area
• Construction: Vinyl siding, aluminum siding, and wood frame construction; Shingle roof; 700 below-grade unfinished area
• Exterior features: Partial fencing; Located in the Westover Park subdivision

Interior

• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Four total rooms; Three closets; Unfinished basement
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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 (+4.9%/yr); 140 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 35% of the median local income ($32k/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 $345 of loan paydown is wiped out by about $1k 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 + 4.9% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.86% ✓
• Cap rate: 16.59%
• Cash-on-cash: 36.77%
• DSCR: 2.64
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $77,700
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 S 45th St	0.26mi	2/1.0	700 (0%)	2mo	$78,000	$111	86
4401 Sunset Ave	0.14mi	2/1.0	800 (+14%)	6mo	$24,500	$31	64
1012 Woodway Ln	0.35mi	2/1.0	744 (+6%)	14mo	$115,000	$155	62
1023 S 40th St	0.59mi	2/1.0	737 (+5%)	4mo	$110,000	$149	60
1004 S 39th St	0.65mi	2/1.0	788 (+13%)	18mo	$55,000	$70	34

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.50×
• Total profit: $20,956
• Equity at exit: $7,440

10-year hold

• IRR: 42.4%
• Equity multiple: 5.36×
• Total profit: $60,925
• Equity at exit: $4,314

Cash invested: $13,972 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 140
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $931 high
• Mortgage (P&I): −$262
• Tax from tax record: −$25 /mo · $294/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $428

Break-even live

Break-even rent $389

Max offer price $49,900

Occupancy floor 49%

Sensitivity live

Price	-10% $456	-5% $442	+0% $428	+5% $414	+10% $400
Rent	-10% $355	-5% $391	+0% $428	+5% $465	+10% $502
Rate	-1.0pp $453	-0.5pp $441	base $428	+0.5pp $415	+1.0pp $402

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$650	$0.87	4d	1	0.87mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$695	$0.93	24d	1	0.87mi
3515 W Kentucky St Unit 3515-12 Louisville, KY	1.0	1.0	700	$695	$0.99	24d	1	1.00mi
2016 S 40th St Louisville, KY	2.0	1.0	700	$980	$1.40	16d	1	1.09mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,124	$1.39	2d	1	1.10mi
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	4d	1	1.17mi
691 Madelon Ct Louisville, KY	1.0	1.0	650	$675	$1.04	12d	1	1.25mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	24d	1	1.33mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	4d	1	1.34mi

Listing history 19 events

1. 2026-06-18
   days on market $49,900 Active 60 DOM
2. 2026-06-17
   days on market $49,900 Active 59 DOM
3. 2026-06-16
   days on market $49,900 Active 58 DOM
4. 2026-06-15
   days on market $49,900 Active 57 DOM
5. 2026-06-13
   days on market $49,900 Active 55 DOM
6. 2026-06-10
   days on market $49,900 Active 52 DOM
7. 2026-06-09
   days on market $49,900 Active 51 DOM
8. 2026-06-08
   days on market $49,900 Active 50 DOM
9. 2026-06-07
   days on market $49,900 Active 49 DOM
10. 2026-06-03
    days on market $49,900 Active 45 DOM
11. 2026-06-02
    days on market $49,900 Active 44 DOM
12. 2026-06-01
    days on market $49,900 Active 43 DOM
13. 2026-05-31
    days on market $49,900 Active 42 DOM
14. 2026-05-16
    price $60,000
15. 2026-05-01
    status Active
16. 2026-05-01
    price $69,900
17. 2026-02-04
    status Pending
18. 2026-02-03
    historical Active Under Contract
19. 2026-01-23
    listed $75,000 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: $294 · $25/mo
• Projected year-2 tax: $429 · $36/mo
• Expected delta: +$135/yr (+$11/mo · 45.9%)

ⓘ 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 · 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 2% 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: $11,166
• − Mortgage interest: −$2,795
• − Property taxes: −$294
• − Insurance: −$250
• − Repairs & maintenance: −$893
• − Management: −$893
• − Depreciation: −$1,452
• Taxable income: $4,589
• Est. tax owed @ 24.0%: −$1,101
• After-tax cash flow: $4,036/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 Black (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

-20.0% since first listed

6 events — show timeline

• 2026-05-16 Price Changed $60,000 Metro Search MLS
• 2026-05-01 Relisted — Metro Search MLS
• 2026-05-01 Price Changed $69,900 Metro Search MLS
• 2026-02-04 Pending — Metro Search MLS
• 2026-02-03 Contingent — Metro Search MLS
• 2026-01-23 Listed $75,000 Metro Search MLS

Property tax history

+2.2%/yr

Latest (2025): $294 · -12.2% YoY. Source: county tax records.