1767 Bernheim Ln · Louisville, KY 40210

$92,000

2 bd · 1.0 ba · 700 sqft · SingleFamily · 128 Days on market

Built 1949 Est $120k · 24% under

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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 +22.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.3/10.0
• 1% rule +5.1/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

This 2-bedroom, 1-bath home qualifies for the ReVert program, offering a unique opportunity for buyers seeking alternative financing solutions and a more accessible path to homeownership. It's also a great candidate for a 203(k) renovation loan, allowing you to finance both the purchase and improvements in one convenient package. Beyond owner-occupants, this property presents strong potential for investors looking to add value. With a functional layout and solid bones, it's an ideal project for renovation and equity growth. Whether you're considering a fix-and-flip, rental investment, or long-term hold, the upside opportunity is clear. Bring your vision and contractor—this is a value-

Key facts

• Parking
• Built 1949
• Listed 127 days

Property features AI

Finance

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

Exterior

• Parking: Driveway; No garage
• Utilities: Electricity connected
• Home design: Single family residence; One story; Built in 1949; Other architectural style
• Construction: Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: No notable exterior features listed; Sidewalk

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Six total rooms; Three closets; Utility room on the first floor; Additional first-floor other room
• Laundry & utility: First-floor laundry; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($928 rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 (+8.1%/yr); 92 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($636 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 + 8.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1949 — 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: 1.01% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $120,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1634 Dixdale Ave	0.17mi	2/1.0	740 (+6%)	8mo	$117,500	$159	76
1639 Dixdale Ave	0.17mi	3/1.0 (+1)	746 (+7%)	5mo	$128,000	$172	72
2601 Dixdale Ave	0.59mi	2/1.0	700 (0%)	2mo	$106,000	$151	71
1644 Dixdale Ave	0.13mi	2/1.0	746 (+7%)	15mo	$65,000	$87	70
2606 Dixdale Ave	0.62mi	2/1.0	700 (0%)	6mo	$134,900	$193	66
1516 Wurtele Ave	0.69mi	2/1.0	700 (0%)	7mo	$115,000	$164	62
2609 Dixdale Ave	0.62mi	2/1.0	700 (0%)	18mo	$150,000	$214	56
1729 Sonne Ave	0.59mi	2/1.0	765 (+9%)	2mo	$185,000	$242	55
2611 Narragansett Dr	0.67mi	2/1.0	754 (+8%)	4mo	$152,900	$203	52
1731 W Hill St	0.51mi	2/1.0	733 (+5%)	20mo	$100,000	$136	52
1520 Wurtele Ave	0.67mi	2/1.0	672 (-4%)	17mo	$130,000	$193	48
2706 Wyandotte Ave	0.69mi	2/1.0	757 (+8%)	17mo	$75,000	$99	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 31.7%
• Equity multiple: 3.53×
• Total profit: $65,256
• Equity at exit: $82,881

10-year hold

• IRR: 28.9%
• Equity multiple: 8.62×
• Total profit: $196,193
• Equity at exit: $178,736

Cash invested: $25,760 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 92
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $928 high
• Mortgage (P&I): −$482
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $161

Break-even live

Break-even rent $724

Max offer price $92,000

Occupancy floor 78%

Sensitivity live

Price	-10% $213	-5% $187	+0% $161	+5% $135	+10% $109
Rent	-10% $88	-5% $125	+0% $161	+5% $198	+10% $235
Rate	-1.0pp $208	-0.5pp $185	base $161	+0.5pp $137	+1.0pp $113

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1836 Algonquin Pkwy Unit 2 Louisville, KY	1.0	1.0	600	$650	$1.08	24d	1	0.28mi
1836 Algonquin Pkwy Unit 1 Louisville, KY	1.0	1.0	650	$650	$1.00	15d	1	0.28mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	24d	1	0.36mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	24d	1	0.50mi
4600 South St Unit PARKWAYE1 Louisville, KY	2.0	1.0	700	$749	$1.07	24d	1	0.67mi
1637 Thornberry Ave Louisville, KY	2.0	1.0	700	$1,250	$1.79	4d	1	0.77mi
1927 S 28th St Louisville, KY	2.0	1.0	700	$1,200	$1.71	24d	1	0.77mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	4d	1	0.83mi
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	17d	1	0.90mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	24d	1	0.91mi
3005 Linwood Ave Louisville, KY	2.0	1.0	700	$1,025	$1.46	17d	1	0.93mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	12d	1	0.99mi
1724 W Ormsby Ave #4 Louisville, KY	1.0	1.0	520	$750	$1.44	4d	1	1.01mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	1.03mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	24d	1	1.07mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	4d	1	1.07mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	4d	1	1.07mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	18d	1	1.18mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	24d	1	1.24mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	24d	1	1.25mi

Listing history 15 events

1. 2026-06-21
   days on market $92,000 Active 128 DOM
2. 2026-06-18
   days on market $92,000 Active 125 DOM
3. 2026-06-17
   days on market $92,000 Active 124 DOM
4. 2026-06-16
   days on market $92,000 Active 123 DOM
5. 2026-06-15
   days on market $92,000 Active 122 DOM
6. 2026-06-13
   days on market $92,000 Active 120 DOM
7. 2026-06-10
   days on market $92,000 Active 117 DOM
8. 2026-06-09
   days on market $92,000 Active 116 DOM
9. 2026-06-08
   days on market $92,000 Active 115 DOM
10. 2026-06-07
    days on market $92,000 Active 114 DOM
11. 2026-06-03
    days on market $92,000 Active 110 DOM
12. 2026-06-02
    days on market $92,000 Active 109 DOM
13. 2026-06-01
    days on market $92,000 Active 108 DOM
14. 2026-05-31
    days on market $92,000 Active 107 DOM
15. 2026-02-13
    listed $92,000 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: $614 · $51/mo
• Projected year-2 tax: $791 · $66/mo
• Expected delta: +$177/yr (+$15/mo · 28.8%)

ⓘ 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 ≥104°F today · 19 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: $11,138
• − Mortgage interest: −$5,153
• − Property taxes: −$614
• − Insurance: −$460
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$2,676
• Taxable income: $452
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $1,827/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

1 event — show timeline

• 2026-02-13 Listed $92,000 Metro Search MLS

Property tax history

+2.8%/yr

Latest (2025): $614 · -1.9% YoY. Source: county tax records.