2714 Montgomery St · Louisville, KY 40212

$119,000

2 bd · 1.0 ba · 1,296 sqft · SingleFamily · 22 Days on market

Built 1935 0.30 ac lot Est $104k · 15% over

---

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 +20.3/30.0
• Appreciation +10.0/10.0
• DSCR +6.4/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.9/15.0

Listing remarks

This unique property offers incredible flexibility with two separate living spaces—perfect for a primary residence with an income-producing opportunity or a fully functional duplex setup. The main home is a charming camelback-style property with excellent curb appeal, blending modern updates with original historic character. Inside, you'll find a move-in ready living room, kitchen, and bathroom that have been recently updated. The spacious dining room offers endless possibilities—use it as a formal dining area, second living space, office, or playroom—especially since the kitchen has room for an eat-in dining setup. Conveniently located laundry is also tucked into this ver

Key facts

• Separate apartment
• Covered back porch
• 0.3 acre lot

Tags

• RECENTLY UPDATED KITCHEN
• COVERED BACK PORCH
• LARGE FULLY FENCED YARD
• CARRIAGE HOUSE BUILDING
• FINISHED AREA FOR STORAGE
• SEPARATE APARTMENT

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Detached garage (entry at rear); Driveway parking; One garage space
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence (Camelback style); Two stories; Separate apartment (second level)
• Construction: Built in 1935; Vinyl siding; Shingle roof; Two-story structure
• Exterior features: Cleared lot; Full chain-link fencing

Interior

• Kitchen: First-floor kitchen; First-floor dining room
• Bedrooms: Two bedrooms total — one on the first floor and one on the second floor; Separate apartment above (second level) with living room, kitchen, full bathroom and 1–2 bedrooms
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air and wall/window unit(s) for cooling
• Interior features: Five total rooms; Three closets; Two fireplaces
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $152 ($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 $113k (4.6% below list).
• Recommended offer: $113k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 flat; 140 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 38% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($823 loan paydown + $12k 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 + 0.5% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $119k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $113,484 (4.6% below list)

Questions for the listing agent

1. Built in 1935 — 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: 0.95% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $103,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2619 Bank St	0.23mi	2/1.0	1,280 (-1%)	5mo	$105,000	$82	84
2547 Bank St	0.29mi	3/1.0 (+1)	1,301 (+0%)	4mo	$103,500	$80	78
2614 Montgomery St	0.10mi	3/1.0 (+1)	1,336 (+3%)	12mo	$47,000	$35	75
654 N 25th St	0.23mi	3/1.5 (+1)	1,344 (+4%)	6mo	$55,000	$41	71
2729 Bank St	0.20mi	3/1.0 (+1)	1,263 (-2%)	12mo	$143,000	$113	71
427 N 28th St	0.36mi	2/1.0	1,166 (-10%)	3mo	$70,000	$60	64
2409 Griffiths Ave	0.55mi	3/1.5 (+1)	1,374 (+6%)	6mo	$37,000	$27	52
2616 Duncan St	0.68mi	2/1.0	1,440 (+11%)	7mo	$48,000	$33	44
528 N 20th St	0.75mi	3/1.0 (+1)	1,220 (-6%)	9mo	$115,000	$94	42
2647 Alford Ave	0.56mi	3/1.0 (+1)	1,117 (-14%)	8mo	$119,900	$107	39
2802 Duncan St	0.71mi	3/2.0 (+1)	1,202 (-7%)	12mo	$98,000	$82	36
2333 Duncan St	0.71mi	3/1.0 (+1)	1,480 (+14%)	5mo	$83,750	$57	34

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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 3.15×
• Total profit: $71,680
• Equity at exit: $107,205

10-year hold

• IRR: 23.3%
• Equity multiple: 6.95×
• Total profit: $198,341
• Equity at exit: $231,191

Cash invested: $33,320 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,135 high
• Mortgage (P&I): −$624
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $152

Break-even live

Break-even rent $943

Max offer price $119,000

Occupancy floor 82%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	3d	4	0.16mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	23d	1	0.17mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	17d	1	0.17mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	3d	1	0.18mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	23d	1	0.30mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.36mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	3d	1	0.41mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	0.57mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	16d	1	0.65mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	23d	1	0.74mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	23d	1	0.75mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	0.80mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	11d	1	0.81mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	3d	1	0.83mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	23d	1	0.83mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	23d	1	0.88mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	3d	4	0.90mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	23d	1	0.99mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	23d	1	1.12mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	23d	1	1.13mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	23d	1	1.19mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	20d	1	1.20mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	23d	1	1.29mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	1.29mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	23d	1	1.29mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	3d	1	1.32mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	23d	1	1.35mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	21d	1	1.35mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	23d	1	1.35mi
110 Hansbrough Pl Unit 101 Louisville, KY	2.0	1.0	924	$1,080	$1.17	23d	1	1.35mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	23d	1	1.36mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	3d	1	1.37mi
313 N 42nd St Louisville, KY	3.0	1.0	900	$1,250	$1.39	3d	1	1.39mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	16d	1	1.41mi
1307 E Market St #1 New Albany, IN	2.0	1.0	936	$1,190	$1.27	17d	1	1.48mi

Listing history 4 events

1. 2026-05-13
   historical Active Under Contract
2. 2026-05-03
   listed $119,000 Active
3. 2018-07-18
   soldstatus $35,000
4. 2003-11-11
   soldstatus $16,680

ⓘ 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: $852 · $71/mo
• Projected year-2 tax: $1,023 · $85/mo
• Expected delta: +$171/yr (+$14/mo · 20.1%)

ⓘ 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 ≥105°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: $13,618
• − Mortgage interest: −$6,666
• − Property taxes: −$852
• − Insurance: −$595
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$3,462
• Taxable loss: −$135
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $1,855/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

+613.4% since first listed

4 events — show timeline

• 2026-05-13 Contingent — Metro Search MLS
• 2026-05-03 Listed $119,000 Metro Search MLS
• 2018-07-18 Sold (Public Records) $35,000 Public Records
• 2003-11-11 Sold (Public Records) $16,680 Public Records

Property tax history

+15.8%/yr

Latest (2025): $852 · -1.9% YoY. Source: county tax records.