234 N 34th St · Louisville, KY 40212

$95,000

2 bd · 1.5 ba · 862 sqft · SingleFamily · 58 Days on market

Built 1924 5,662 sqft lot Est $68k · 40% 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 +24.4/30.0
• Appreciation +10.0/10.0
• DSCR +7.9/10.0
• 1% rule +5.6/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks

Charming 2-bedroom, 1.5-bath home conveniently located in Louisville?s west end! This property features a one-car garage, unfinished basement offering great storage or future expansion potential, and a functional layout perfect for a variety of buyers. Whether you're looking to add to your investment portfolio or find your next home, this property offers solid potential and value. Schedule your showing today!

Key facts

• 5,662 sq ft lot
• Garage
• Pool

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Detached 1-car garage
• Utilities: Electricity connected
• Home design: Single-family bungalow; 1 story; Built in 1924
• Construction: Shingle roof; Poured concrete foundation; Aluminum siding and log construction
• Exterior features: Lot is approximately 0.13 acres

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom on the first floor; 1 half bathroom in the basement
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: 5 total rooms; 4 closets; Unfinished basement
• Laundry & utility: Laundry room in the basement; First-floor laundry: No

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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+, 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; 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).
• This rent runs 34% 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 $10k of equity ($657 loan paydown + $10k 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $68,098
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 N 36th St	0.18mi	3/1.0 (+1)	830 (-4%)	3mo	$111,575	$134	76
3226 W Jefferson St	0.36mi	2/1.0	920 (+7%)	6mo	$48,000	$52	65
503 S 32nd St	0.60mi	2/1.0	832 (-4%)	8mo	$35,000	$42	58
3425 Vermont Ave	0.62mi	2/1.0	912 (+6%)	4mo	$36,500	$40	56
111 S 28th St	0.58mi	2/1.0	816 (-5%)	9mo	$106,900	$131	54
2840 Garfield Ave	0.54mi	2/1.0	925 (+7%)	9mo	$129,000	$139	53
2822 Rowan St	0.49mi	2/1.0	944 (+10%)	10mo	$120,000	$127	51
315 N 26th St	0.74mi	1/1.0 (-1)	878 (+2%)	7mo	$29,000	$33	49
3924 Garfield Ave	0.48mi	2/1.0	972 (+13%)	8mo	$57,500	$59	47
2722 Slevin St	0.61mi	2/1.0	984 (+14%)	5mo	$65,000	$66	42
4109 Bank St	0.64mi	3/1.0 (+1)	990 (+15%)	3mo	$157,325	$159	36
3831 W Muhammad Ali Blvd	0.64mi	3/1.0 (+1)	760 (-12%)	10mo	$60,000	$79	35

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: 29.7%
• Equity multiple: 3.32×
• Total profit: $61,581
• Equity at exit: $85,584

10-year hold

• IRR: 25.0%
• Equity multiple: 7.28×
• Total profit: $167,123
• Equity at exit: $184,564

Cash invested: $26,600 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,006 high
• Mortgage (P&I): −$498
• Tax from tax record: −$63 /mo · $760/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $193

Break-even live

Break-even rent $761

Max offer price $95,000

Occupancy floor 76%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	16d	1	0.16mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	23d	1	0.19mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	23d	1	0.20mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	17d	1	0.26mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	23d	1	0.36mi
110 Hansbrough Pl Unit 101 Louisville, KY	2.0	1.0	924	$1,080	$1.17	23d	1	0.37mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	20d	1	0.39mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	11d	1	0.40mi
3910 Garfield Ave Louisville, KY	2.0	1.0	872	$1,035	$1.19	3d	1	0.44mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	0.46mi
313 N 42nd St Louisville, KY	3.0	1.0	900	$1,250	$1.39	3d	1	0.54mi
112 Boston Ct Louisville, KY	1.0	1.0	650	$800	$1.23	23d	1	0.55mi
127 Boston Ct Louisville, KY	2.0	1.0	725	$1,100	$1.52	23d	1	0.55mi
4141 W Market St Unit 1 Louisville, KY	2.0	1.0	771	$925	$1.20	3d	1	0.59mi
4143 W Market St Unit 2 Louisville, KY	2.0	1.0	700	$850	$1.21	23d	1	0.59mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	0.63mi
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	16d	1	0.65mi
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	19d	1	0.67mi
521 N 33rd St Louisville, KY	1.0	1.0	650	$795	$1.22	23d	1	0.68mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	0.69mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	23d	1	0.69mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	23d	1	0.71mi
302 Cecil Ave Louisville, KY	2.0	1.0	984	$1,025	$1.04	16d	1	0.71mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	23d	1	0.72mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	23d	1	0.72mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.77mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	21d	1	0.77mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.77mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	20d	1	0.79mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	3d	1	0.81mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	23d	1	0.83mi
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	3d	1	0.83mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	20d	1	0.83mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.83mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	23d	1	0.86mi
112 S 46th St Louisville, KY	3.0	1.0	902	$1,200	$1.33	23d	1	0.87mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	23d	1	0.88mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	3d	1	0.93mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	0.95mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	23d	1	0.95mi

Listing history 16 events

1. 2026-06-18
   days on market $95,000 Active 58 DOM
2. 2026-06-17
   days on market $95,000 Active 57 DOM
3. 2026-06-16
   days on market $95,000 Active 56 DOM
4. 2026-06-15
   days on market $95,000 Active 55 DOM
5. 2026-06-13
   days on market $95,000 Active 53 DOM
6. 2026-06-10
   days on market $95,000 Active 50 DOM
7. 2026-06-09
   days on market $95,000 Active 49 DOM
8. 2026-06-08
   days on market $95,000 Active 48 DOM
9. 2026-06-07
   days on market $95,000 Active 47 DOM
10. 2026-06-03
    days on market $95,000 Active 43 DOM
11. 2026-06-02
    days on market $95,000 Active 42 DOM
12. 2026-06-01
    days on market $95,000 Active 41 DOM
13. 2026-05-31
    days on market $95,000 Active 40 DOM
14. 2026-04-20
    listed $95,000 Active
15. 2025-04-01
    historical $995
16. 2025-02-14
    listed $995

ⓘ 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: $760 · $63/mo
• Projected year-2 tax: $817 · $68/mo
• Expected delta: +$57/yr (+$5/mo · 7.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 47% 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: $12,068
• − Mortgage interest: −$5,321
• − Property taxes: −$760
• − Insurance: −$475
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$2,764
• Taxable income: $818
• Est. tax owed @ 24.0%: −$196
• After-tax cash flow: $2,125/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

3 events — show timeline

• 2026-04-20 Listed $95,000 Metro Search MLS
• 2025-04-01 Rental Removed $995 RENT.
• 2025-02-14 Listed for Rent $995 RENT.

Property tax history

+4.3%/yr

Latest (2025): $760 · -1.9% YoY. Source: county tax records.