119 Northwestern Pkwy · Louisville, KY 40212

$135,999

4 bd · 1.5 ba · 1,523 sqft · SingleFamily · 28 Days on market

Built 1920 6,300 sqft lot Est $126k · 8% over

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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 +25.5/30.0
• Appreciation +10.0/10.0
• DSCR +8.5/10.0
• 1% rule +5.5/10.0
• ARV discount +4.1/15.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Welcome to the Parkway! This spacious 4-bedroom, 1.5-bath home is ready for its next owner and full of potential. Located in one of West Louisville's most desirable areas, this property is just minutes from Shawnee Park and the scenic Ohio River. Inside, you'll find original hardwood floors throughout much of the home, adding timeless character and charm. The first floor features a welcoming foyer, cozy living room, formal dining area, kitchen, and a large family room offering plenty of space for gathering and entertaining. Upstairs, the original hardwood flooring continues throughout all four spacious bedrooms. Large windows provide abundant natural light, while several bedrooms offer gene

Key facts

• Large family room
• Newer roof
• Unfinished basement

Tags

• ORIGINAL HARDWOOD FLOORS
• LARGE FAMILY ROOM
• GENEROUS WALK-IN CLOSETS
• UNFINISHED BASEMENT
• NEWER ROOF
• HVAC SYSTEM

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas; Forced air heating; Central air conditioning
• Home design: Traditional single-family home; 2 stories; Built in 1920
• Construction: Vinyl siding and brick exterior; Shingle roof; Concrete block and poured concrete foundation
• Exterior features: Level lot; Chain link fencing

Interior

• Kitchen: Kitchen on the first floor; Dining room on the first floor
• Bedrooms: 4 bedrooms located on the second floor
• Bathrooms: 1 full bathroom on the second floor; 1 half bathroom on the first floor
• Interior features: Unfinished basement; Foyer; 5 fireplaces; 8 total rooms (11 rooms listed)
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• Recommended offer: $134k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,424/mo this rent would consume 48% of the median local household income ($36k/yr) (locally 1148% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($940 loan paydown + $14k 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($134k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $133,959 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.05% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.01%
• DSCR: 1.45
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $126,409
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 N Shawnee Ter	0.18mi	4/1.0	1,458 (-4%)	9mo	$80,000	$55	75
103 S 42nd St	0.41mi	5/1.0 (+1)	1,503 (-1%)	3mo	$60,000	$40	69
237 Glendora Ave	0.40mi	3/2.0 (-1)	1,436 (-6%)	2mo	$186,250	$130	64
119 S Longworth Ave	0.13mi	3/1.5 (-1)	1,329 (-13%)	14mo	$178,000	$134	56
238 S 41st St	0.56mi	3/2.0 (-1)	1,450 (-5%)	8mo	$119,900	$83	52
4210 Miami Ave	0.60mi	3/2.0 (-1)	1,568 (+3%)	12mo	$208,000	$133	50
366 N 41st St	0.53mi	3/1.0 (-1)	1,400 (-8%)	10mo	$175,200	$125	46
309 S 41st St	0.63mi	3/2.0 (-1)	1,675 (+10%)	2mo	$102,000	$61	46
4131 W Muhammad Ali Blvd	0.65mi	3/2.0 (-1)	1,636 (+7%)	12mo	$19,000	$12	40
4149 W Muhammad Ali Blvd	0.62mi	3/1.0 (-1)	1,327 (-13%)	3mo	$88,000	$66	40
224 N 38th St	0.70mi	3/2.0 (-1)	1,685 (+11%)	12mo	$75,000	$45	32
212 N 38th St	0.70mi	4/2.0	1,747 (+15%)	12mo	$189,900	$109	31

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: 30.6%
• Equity multiple: 3.38×
• Total profit: $90,751
• Equity at exit: $122,519

10-year hold

• IRR: 25.8%
• Equity multiple: 7.43×
• Total profit: $244,854
• Equity at exit: $264,216

Cash invested: $38,080 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$713
• Tax from tax record: −$38 /mo · $450/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $318

Break-even live

Break-even rent $1,022

Max offer price $135,999

Occupancy floor 73%

Sensitivity live

Price	-10% $395	-5% $356	+0% $318	+5% $279	+10% $241
Rent	-10% $205	-5% $261	+0% $318	+5% $374	+10% $430
Rate	-1.0pp $386	-0.5pp $352	base $318	+0.5pp $282	+1.0pp $246

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	19d	1	0.51mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	4d	1	0.53mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	4d	1	0.54mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	21d	1	0.60mi
4129 W Muhammad Ali Blvd Louisville, KY	4.0	2.0	1224	$1,500	$1.23	2d	1	0.63mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	21d	1	0.93mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	16d	1	1.00mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	16d	1	1.04mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	24d	1	1.18mi
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	16d	1	1.19mi
714 S 42nd St Louisville, KY	3.0	1.0	1078	$1,150	$1.07	16d	1	1.21mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	4d	1	1.27mi
803 Cecil Ave Louisville, KY	4.0	1.0	1165	$1,449	$1.24	11d	1	1.32mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	19d	1	1.40mi
807 E Main St New Albany, IN	3.0	2.0	1500	$1,650	$1.10	20d	1	1.42mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	4d	1	1.46mi

Listing history 11 events

1. 2026-06-13
   status $135,999 Pending 28 DOM
2. 2026-06-10
   days on market $135,999 Active 28 DOM
3. 2026-06-09
   days on market $135,999 Active 27 DOM
4. 2026-06-08
   days on market $135,999 Active 26 DOM
5. 2026-06-07
   days on market $135,999 Active 25 DOM
6. 2026-06-03
   days on market $135,999 Active 21 DOM
7. 2026-06-02
   days on market $135,999 Active 20 DOM
8. 2026-06-02
   price $135,999 Active 19 DOM
9. 2026-06-01
   days on market $145,999 Active 19 DOM
10. 2026-05-31
    days on market $145,999 Active 18 DOM
11. 2026-05-13
    listed $145,999 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: $450 · $38/mo
• Projected year-2 tax: $1,170 · $97/mo
• Expected delta: +$719/yr (+$60/mo · 159.7%)

ⓘ 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 2% 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: $17,087
• − Mortgage interest: −$7,618
• − Property taxes: −$450
• − Insurance: −$680
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$3,956
• Taxable income: $1,649
• Est. tax owed @ 24.0%: −$396
• After-tax cash flow: $3,415/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

1 event — show timeline

• 2026-05-13 Listed $145,999 Metro Search MLS

Property tax history

-7.9%/yr

Latest (2025): $450 · -8.9% YoY. Source: county tax records.