2732 Montana Ave · Louisville, KY 40208

$114,900

2 bd · 1.0 ba · 950 sqft · SingleFamily · 13 Days on market

Built 1925 3,720 sqft lot Est $141k · 18% under

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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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.7/10.0
• Rent growth +4.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 2 bedroom home centrally located for a quick commute to anywhere in the city! This home features a welcoming covered front porch and a spacious 2 car garage for secured, off-street parking. Whether you are planning to be an owner occupant or an investor looking to expand your portfolio, this home is a perfect fit. The home was previously rented for $975/month on a 1 year lease but is now ready for a new occupant. The living room is open to the dining area giving the home a spacious feel. The kitchen offers room for a small table and there is a laundry area just off the kitchen as you head out the back door. The back yard is fenced with a walkway leading to the garage. Make sure you get a chance to see this home while it is still available - schedule a showing today!

Key facts

• Large dining room
• Large eat-in kitchen
• Open living area

Tags

• OPEN LIVING AREA
• LARGE EAT-IN KITCHEN
• LARGE DINING ROOM
• EXTRA BONUS ROOM
• DETACHED GARAGE
• FENCED IN YARD

Property features AI

Finance

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

Exterior

• Parking: Detached 2-car garage
• Utilities: Electricity connected
• Home design: Single-family residence in Cape Cod style; One story
• Construction: Built in 1925; Vinyl siding and brick exterior; Shingle roof; Crawl space foundation
• Exterior features: Cleared lot; Chain-link fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms (both on the first floor); Primary bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Four total rooms; One fireplace
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

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 $111k (3.3% below list).
• Recommended offer: $111k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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+, crime F.
• 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.
• Zoned schools: Frayser Elementary (math 2% / reading 8%, grade F, #670 of 676 statewide, top 100%, 318 students, 80% FRL) — zoned schools average 80% FRL vs 56% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 5% at this address vs 27% district-wide (-22 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.1%/yr); 77 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

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 22y 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 $92k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $111,057 (3.3% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $140,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 M St	0.29mi	2/1.0	986 (+4%)	2mo	$57,500	$58	78
611 Colorado Ave	0.37mi	2/1.0	925 (-3%)	1mo	$110,000	$119	78
528 M St	0.27mi	3/2.0 (+1)	944 (-1%)	1mo	$142,000	$150	76
1148 Euclid Ave	0.45mi	3/1.0 (+1)	950 (0%)	2mo	$150,000	$158	72
810 Weller Ave	0.18mi	2/1.0	840 (-12%)	2mo	$124,000	$148	71
1315 Weller Ave	0.49mi	2/1.0	996 (+5%)	3mo	$125,000	$126	67
1325 Lillian Ave	0.28mi	2/1.0	847 (-11%)	3mo	$140,000	$165	66
1200 Tennessee Ave	0.44mi	3/1.5 (+1)	920 (-3%)	3mo	$145,000	$158	65
511 M St	0.31mi	3/1.0 (+1)	1,075 (+13%)	3mo	$135,000	$126	56
1332 Phyllis Ave	0.61mi	2/1.0	1,030 (+8%)	2mo	$150,000	$146	56
1323 Thornberry Ave	0.54mi	2/1.0	823 (-13%)	1mo	$140,000	$170	51
1605 Arcade Ave	0.73mi	2/1.0	1,020 (+7%)	3mo	$82,700	$81	51

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 · 6.06% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-6,806
• Equity at exit: $17,132

10-year hold

• IRR: 7.3%
• Equity multiple: 1.63×
• Total profit: $20,111
• Equity at exit: $9,934

Cash invested: $32,172 (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 40208

• Home prices YoY: -23.3%
• Rents YoY: 6.1%
• Active inventory: 77
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,111 high
• Mortgage (P&I): −$603
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $130

Break-even live

Break-even rent $946

Max offer price $114,900

Occupancy floor 83%

Sensitivity live

Price	-10% $195	-5% $163	+0% $130	+5% $98	+10% $65
Rent	-10% $43	-5% $86	+0% $130	+5% $174	+10% $218
Rate	-1.0pp $188	-0.5pp $160	base $130	+0.5pp $101	+1.0pp $70

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	26d	1	0.14mi
1120 Weller Ave Louisville, KY	2.0	1.0	912	$1,250	$1.37	0d	1	0.16mi
1055 Euclid Ave Louisville, KY	2.0	1.0	914	$1,325	$1.45	26d	1	0.23mi
1301 Lillian Ave Louisville, KY	2.0	1.0	974	$1,050	$1.08	0d	1	0.24mi
2716 S 6th St Louisville, KY	1.0	1.0	881	$950	$1.08	18d	1	0.26mi
3107 Montana Ave Louisville, KY	2.0	1.0	986	$995	$1.01	26d	1	0.27mi
508 M St Louisville, KY	2.0	1.5	1035	$1,100	$1.06	26d	1	0.34mi
1305 Larchmont Ave Louisville, KY	2.0	1.0	1113	$1,350	$1.21	18d	1	0.39mi
1122 Larchmont Ave Louisville, KY	2.0	1.0	864	$750	$0.87	18d	1	0.42mi
1122 Larchmont Ave Unit B Louisville, KY	2.0	1.0	864	$750	$0.87	26d	1	0.42mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	19d	1	0.42mi
2719 S 4th St Unit 4 Louisville, KY	2.0	1.0	800	$925	$1.16	0d	1	0.47mi
2805 S 4th St #1 Louisville, KY	1.0	1.0	750	$725	$0.97	23d	1	0.48mi
2501 S 4th St Louisville, KY	1.0–3.0	1.0–3.0	897	$3,732	$4.16	5d	1	0.53mi
1438 Lillian Ave Louisville, KY	2.0	1.0	777	$1,050	$1.35	19d	1	0.53mi
2501 S 3rd St Louisville, KY	1.0–2.0	1.0–2.0	1018	$1,550	$1.52	0d	3	0.57mi
2913 S 3rd St Louisville, KY	2.0	1.0	1026	$1,200	$1.17	26d	1	0.60mi
1637 Thornberry Ave Louisville, KY	2.0	1.0	700	$1,250	$1.79	5d	1	0.63mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	18d	1	0.91mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	26d	1	0.92mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	26d	1	0.93mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	26d	1	0.95mi
1501 Bellamy Pl Louisville, KY	2.0–4.0	2.0–4.0	1074	$1,758	$1.64	5d	1	0.98mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	5d	1	0.99mi
1800 S 2nd St Louisville, KY	1.0	1.0	575	$950	$1.65	18d	7	1.02mi
1111 Dresden Ave Louisville, KY	2.0	1.0	680	$1,100	$1.62	18d	1	1.03mi
4012 Southern Pkwy Unit 8 Louisville, KY	1.0	1.0	600	$795	$1.32	17d	1	1.08mi
4012 Southern Pkwy Unit 5 Louisville, KY	1.0	1.0	600	$795	$1.32	26d	1	1.08mi
1702 S 2nd St Apt 3 Louisville, KY	1.0	1.0	625	$875	$1.40	26d	1	1.10mi
1702 S 2nd St Apt 1 Louisville, KY	2.0	1.0	875	$1,100	$1.26	26d	1	1.10mi
409 W Gaulbert Ave Unit 201 Louisville, KY	2.0	1.0	772	$1,100	$1.42	26d	1	1.12mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	18d	1	1.14mi
1521 S 4th St Unit 7 Louisville, KY	2.0	1.0	750	$1,125	$1.50	26d	1	1.15mi
1521 S 4th St Apt 8 Louisville, KY	1.0	1.0	700	$900	$1.29	26d	1	1.15mi
1521 S 4th St Unit 6 Louisville, KY	2.0	1.0	750	$1,025	$1.37	26d	1	1.15mi
1521 S 4th St Unit 12 Louisville, KY	1.0	1.0	700	$795	$1.14	23d	1	1.15mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	18d	1	1.19mi
415 Atwood St Louisville, KY	1.0	1.0	770	$995	$1.29	23d	1	1.20mi
1726 Sonne Ave Louisville, KY	2.0	1.0	820	$1,095	$1.34	18d	1	1.22mi
415 Belgravia Ct Unit 3 Louisville, KY	2.0	1.0	700	$800	$1.14	26d	1	1.23mi

Listing history 9 events

1. 2026-06-22
   days on market $114,900 Active 13 DOM
2. 2026-06-21
   days on market $114,900 Active 12 DOM
3. 2026-06-18
   days on market $114,900 Active 9 DOM
4. 2026-06-17
   days on market $114,900 Active 8 DOM
5. 2026-06-16
   days on market $114,900 Active 7 DOM
6. 2026-06-15
   days on market $114,900 Active 6 DOM
7. 2026-06-13
   days on market $114,900 Active 4 DOM
8. 2026-06-10
   remarks 521-char remark
9. 2026-06-10
   listed $114,900 Active 1 DOM

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,159 · $97/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 1/10 Low FEMA zone X (unshaded) · 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 100% 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: $13,327
• − Mortgage interest: −$6,436
• − Property taxes: −$1,159
• − Insurance: −$574
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$3,343
• Taxable loss: −$318
• Est. tax savings @ 24.0%: +$76
• After-tax cash flow: $1,640/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): 15,605
• Household income: $39,560
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 1136.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Black 22% Two or more races 9% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -72.97%
• Current HPI: 240.6261
• Rent YoY: ▲ 6.06%
• 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

+64.4% since first listed

25 events — show timeline

• 2026-06-09 Listed $114,900 Metro Search MLS
• 2023-05-23 Pending — Metro Search MLS
• 2023-05-23 Sold (MLS) $92,000 Metro Search MLS
• 2023-05-22 Sold (Public Records) $92,000 Public Records
• 2023-04-10 Contingent — Metro Search MLS
• 2023-03-31 Listed $95,000 Metro Search MLS
• 2023-03-21 Sold (Public Records) $68,426 Public Records
• 2022-12-26 Listing Removed — Metro Search MLS
• 2022-12-16 Relisted — Metro Search MLS
• 2022-10-20 Pending — Metro Search MLS
• 2022-09-29 Contingent — Metro Search MLS
• 2022-09-09 Listed $95,000 Metro Search MLS
• 2018-11-02 Sold (Public Records) $75,000 Public Records
• 2018-10-30 Sold (MLS) $75,000 Metro Search MLS
• 2018-08-27 Pending — Metro Search MLS
• 2018-08-09 Contingent — Metro Search MLS
• 2018-07-27 Listed $83,000 Metro Search MLS
• 2018-07-27 Price Changed $78,000 Metro Search MLS
• 2007-08-31 Sold (Public Records) $52,000 Public Records
• 2007-08-31 Sold (MLS) $52,000 Metro Search MLS
• 2006-10-03 Listed $52,000 Metro Search MLS
• 2006-10-02 Listing Removed — Metro Search MLS
• 2006-04-02 Listed $62,500 Metro Search MLS
• 2005-02-14 Listing Removed — Metro Search MLS
• 2004-08-14 Listed $69,900 Metro Search MLS

Property tax history

+5.8%/yr

Latest (2025): $1,159 · -1.9% YoY. Source: county tax records.