661 S 41st St · Louisville, KY 40211

$99,900

3 bd · 1.5 ba · 2,082 sqft · SingleFamily · 5 Days on market

Built 1910 6,229 sqft lot Est $196k · 49% under ↓ 23% 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• 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

Classic Louisville Foursquare with * * brand new plumbing and electrical. * * Features columned porch, nice floors, stainless appliances, spacious bedrooms, full basement, and detached garage. Sold as-is — near move-in ready. Sold strictly as-is — strong fit for flip, BRRRR, or owner-finance exit in a high-demand West End rental pocket. Bring your contractor and your numbers. Investor-grade American Foursquare in Louisville's Parkland (40211), on a deep 35x175 city lot. Solid original millwork, full unfinished basement with high ceilings, rear deck, and full-width front porch with classical columns. Public sewer (MSD), no flood insurance required. Two blocks off W Broadway,

Key facts

• Brand new plumbing
• Columned porch
• Stainless appliances

Tags

• BRAND NEW PLUMBING
• BRAND NEW ELECTRICAL
• COLUMNED PORCH
• STAINLESS APPLIANCES
• FULL BASEMENT
• DETACHED GARAGE

Property features AI

Finance

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

Exterior

• Parking: One-car garage; Parking details: See remarks
• Utilities: Electricity connected; Natural gas heating; Central air conditioning; One HVAC unit
• Home design: Single family residence; Traditional style; Two stories; Living area reported as 2,082 total (1,543 above grade, 539 below grade finished)
• Construction: Built in 1910; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Chain-link fencing; Sidewalk; Cleared, level lot; Storm sewer

Interior

• Kitchen: Kitchen on the first floor; Dining room on the first floor
• Bedrooms: Three bedrooms total; All bedrooms located on the second floor
• Bathrooms: One full bathroom on the second floor; One half bathroom on the first floor
• Interior features: Nine total rooms; Three closets; Unfinished basement with outside entry; Foyer on the first floor
• Laundry & utility: Laundry room on the first floor; First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 12.4% 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 (+4.9%/yr); 140 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• At $1,415/mo this rent would consume 53% of the median local household income ($32k/yr) (locally 1483% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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: built in 1910 — 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 $99,900

Questions for the listing agent

1. Built in 1910 — 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: 1.42% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.76%
• DSCR: 1.97
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $195,708
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
666 S 41st St	0.03mi	4/2.5 (+1)	2,000 (-4%)	5mo	$225,000	$113	78
4007 Vermont Ave	0.35mi	4/2.5 (+1)	2,052 (-1%)	4mo	$197,500	$96	69
4557 Southwestern Pkwy	0.73mi	3/1.0	2,051 (-2%)	4mo	$145,000	$71	58
913 S 42nd St	0.43mi	3/2.0	1,849 (-11%)	2mo	$230,000	$124	57
923 S 40th	0.47mi	2/2.0 (-1)	2,246 (+8%)	8mo	$68,000	$30	52
814 Cecil Ave	0.33mi	4/2.5 (+1)	2,343 (+12%)	5mo	$217,000	$93	51
1046 S 43rd St	0.67mi	4/2.0 (+1)	1,990 (-4%)	5mo	$188,000	$94	50
3712 W Kentucky St	0.55mi	4/3.0 (+1)	1,877 (-10%)	2mo	$215,000	$115	45
718 S 36th St	0.50mi	4/2.0 (+1)	1,836 (-12%)	7mo	$175,000	$95	44
3615 Herman St	0.69mi	2/2.5 (-1)	1,897 (-9%)	3mo	$102,000	$54	42
315 Shawnee Dr	0.71mi	3/1.0	1,821 (-12%)	5mo	$105,000	$58	40
657 Louis Coleman Jr Dr	0.64mi	4/4.5 (+1)	2,223 (+7%)	9mo	$72,500	$33	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: 16.3%
• Equity multiple: 1.67×
• Total profit: $18,799
• Equity at exit: $14,895

10-year hold

• IRR: 26.2%
• Equity multiple: 3.48×
• Total profit: $69,416
• Equity at exit: $8,638

Cash invested: $27,972 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,415 high
• Mortgage (P&I): −$524
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $507

Break-even live

Break-even rent $773

Max offer price $99,900

Occupancy floor 59%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	15d	1	0.19mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	3d	1	0.20mi
663 S 43rd St Louisville, KY	2.0	2.0	1736	$1,250	$0.72	23d	1	0.24mi
3922 River Park Dr Louisville, KY	2.0	2.0	1800	$1,195	$0.66	11d	1	0.25mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	23d	1	0.58mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	21d	1	0.80mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	2d	1	0.86mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	3d	1	0.95mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	1.19mi

Listing history 9 events

1. 2026-05-20
   status Pending
2. 2026-05-15
   listed $99,900 Active
3. 2024-03-28
   historical
4. 2024-02-07
   historical Active Under Contract
5. 2024-02-01
   listed $110,000 Active
6. 2024-02-01
   historical
7. 2023-12-20
   historical
8. 2023-12-20
   listed $120,000 Active
9. 2023-11-10
   listed $130,000 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: $545 · $45/mo
• Projected year-2 tax: $859 · $72/mo
• Expected delta: +$315/yr (+$26/mo · 57.8%)

ⓘ 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 (shaded) · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,983
• − Mortgage interest: −$5,596
• − Property taxes: −$545
• − Insurance: −$500
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$2,906
• Taxable income: $4,720
• Est. tax owed @ 24.0%: −$1,133
• After-tax cash flow: $4,953/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

-23.2% since first listed

9 events — show timeline

• 2026-05-20 Pending — Metro Search MLS
• 2026-05-15 Listed $99,900 Metro Search MLS
• 2024-03-28 Listing Removed — Metro Search MLS
• 2024-02-07 Contingent — Metro Search MLS
• 2024-02-01 Listing Removed — Metro Search MLS
• 2024-02-01 Listed $110,000 Metro Search MLS
• 2023-12-20 Listing Removed — Metro Search MLS
• 2023-12-20 Listed $120,000 Metro Search MLS
• 2023-11-10 Listed $130,000 Metro Search MLS

Property tax history

+9.6%/yr

Latest (2025): $545 · -7.7% YoY. Source: county tax records.