837 Denmark St · Louisville, KY 40215

$150,000

4 bd · 3.0 ba · 1,272 sqft · SingleFamily · 33 Days on market

Built 1925 Est $184k · 19% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment Opportunity centrally located in South Louisville! Corner Lot Duplex-, Barber Shop currently on one side, 2 bedroom apt on the other. Privacy Fenced yard in the rear.

Key facts

• Corner lot duplex
• Privacy fenced yard
• 4 parking spots

Tags

• CORNER LOT DUPLEX
• PRIVACY FENCED YARD

Property features AI

Finance

• Other: Project facilities marked 'See Remarks' (additional multi-unit details noted)
• Financial info: First-level unit rent listed as $2,400 (unit-level rent indicated); Separate meters not present
• HOA & community: No association fee

Exterior

• Parking: 4 parking spaces (not covered)
• Utilities: Electricity connected; Natural gas available; Owner pays electric, gas, water, and sewer for leased units; Tenant responsible for cable
• Home design: Duplex property; Shotgun architectural style; 2 total units (one unit referenced on 1st level); 1 story for the described unit / main living on 1st level; Built in 1925
• Construction: Wood frame construction; Shingle roof; Living/building area reported as 1,272 total
• Exterior features: No notable exterior features listed

Interior

• Kitchen: Kitchen on the 1st level; Range present; Refrigerator present
• Bedrooms: 2 bedrooms (both on the 1st level)
• Bathrooms: 1 full bath and 1 partial bath (1st level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Shotgun-style layout; Basement present
• Laundry & utility: Laundry area on the 1st level; 1 furnace

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+5.2%/yr); 121 active listings in the ZIP; 29 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).
• This rent runs 44% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1925 — 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: 1.07% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $184,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
824 Dresden Ave	0.11mi	4/2.0	1,225 (-4%)	2mo	$173,000	$141	84
4519 S 6th St	0.65mi	5/2.5 (+1)	1,274 (+0%)	1mo	$185,000	$145	62
576 Longfield Ave	0.22mi	3/1.0 (-1)	1,414 (+11%)	1mo	$179,300	$127	57
550 Longfield Ave	0.28mi	3/1.0 (-1)	1,096 (-14%)	2mo	$130,000	$119	49
548 Camden Ave	0.30mi	3/1.0 (-1)	1,100 (-14%)	2mo	$180,000	$164	48
3668 Woodruff Ave	0.62mi	3/3.0 (-1)	1,158 (-9%)	6mo	$212,500	$184	46
1125 Homeview Dr	0.74mi	3/1.0 (-1)	1,230 (-3%)	2mo	$125,000	$102	45
1310 Southgate Ave	0.61mi	3/1.0 (-1)	1,163 (-9%)	1mo	$159,900	$137	44
1317 Arcade Ave	0.73mi	4/1.0	1,170 (-8%)	2mo	$125,000	$107	43
3535 Kahlert Ave	0.66mi	4/1.0	1,150 (-10%)	4mo	$175,000	$152	41
3611 Woodruff Ave	0.54mi	3/1.0 (-1)	1,125 (-12%)	1mo	$175,000	$156	41
3670 Woodruff Ave	0.63mi	3/1.0 (-1)	1,102 (-13%)	4mo	$159,500	$145	32

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-5,884
• Equity at exit: $22,365

10-year hold

• IRR: 8.4%
• Equity multiple: 1.70×
• Total profit: $29,372
• Equity at exit: $12,969

Cash invested: $42,000 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 121
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $233

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 81%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 W Evelyn Ave Louisville, KY	3.0	1.5	1520	$1,650	$1.09	24d	1	0.09mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	2d	1	0.16mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	12d	1	0.16mi
551 Denmark St Louisville, KY	3.0	1.5	1160	$1,700	$1.47	24d	1	0.22mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	24d	1	0.25mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	24d	1	0.45mi
4133 S 5th St Louisville, KY	4.0	1.0	1200	$1,435	$1.20	16d	1	0.46mi
4007 Southern Pkwy Unit 1 Louisville, KY	4.0	1.0	1500	$1,395	$0.93	3d	1	0.47mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	3d	1	0.48mi
310 W Kenton St Louisville, KY	3.0	2.0	1295	$1,350	$1.04	24d	1	0.52mi
4513 S 6th St Louisville, KY	3.0	2.0	1581	$2,650	$1.68	24d	1	0.64mi
1522 Clara Ave Louisville, KY	3.0	2.0	1150	$1,150	$1.00	24d	1	0.74mi
3102 Grant Ave Louisville, KY	4.0	2.0	1603	$1,595	$1.00	24d	1	0.78mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	24d	1	0.82mi
3746 Kahlert Ave Louisville, KY	3.0	1.0	955	$1,350	$1.41	16d	1	0.85mi
4010 Taylor Blvd Louisville, KY	4.0	2.0	1612	$3,000	$1.86	16d	1	0.87mi
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	24d	1	0.90mi
119 E Southern Heights Ave Louisville, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.92mi
3627 Parthenia Ave Louisville, KY	3.0	1.0	900	$1,245	$1.38	24d	1	0.95mi
1301 Lillian Ave Louisville, KY	3.0	1.0	974	$1,250	$1.28	16d	1	1.00mi
315 M St Unit 101 Louisville, KY	3.0	1.5	1200	$1,800	$1.50	12d	1	1.09mi
3524 Georgetown Cir Louisville, KY	1.0–3.0	1.0	684	$1,350	$1.97	24d	2	1.13mi
3524 Georgetown Cir Unit 3530 Louisville, KY	3.0	1.0	886	$1,350	$1.52	3d	1	1.13mi
3524 Georgetown Cir Louisville, KY	1.0–3.0	1.0	684	$1,350	$1.97	15d	4	1.13mi
2711 S 3rd St Unit 1 Louisville, KY	4.0	2.0	1800	$2,400	$1.33	12d	1	1.15mi
4000 Churchman Ave Louisville, KY	3.0	1.0	1000	$1,200	$1.20	16d	1	1.16mi
1147 Lincoln Ave Louisville, KY	4.0	1.0	1323	$1,295	$0.98	3d	1	1.22mi
510 Colorado Ave Louisville, KY	3.0	2.0	1500	$1,750	$1.17	24d	1	1.35mi
2501 S 4th St Louisville, KY	1.0–3.0	1.0–3.0	897	$6,345	$7.07	3d	1	1.37mi

Listing history 17 events

1. 2026-06-18
   price $150,000 Active 33 DOM
2. 2026-06-18
   days on market $160,000 Active 33 DOM
3. 2026-06-17
   days on market $160,000 Active 32 DOM
4. 2026-06-16
   days on market $160,000 Active 31 DOM
5. 2026-06-15
   days on market $160,000 Active 30 DOM
6. 2026-06-13
   days on market $160,000 Active 28 DOM
7. 2026-06-10
   days on market $160,000 Active 25 DOM
8. 2026-06-09
   days on market $160,000 Active 24 DOM
9. 2026-06-08
   days on market $160,000 Active 23 DOM
10. 2026-06-07
    pricedays on market $160,000 Active 22 DOM
11. 2026-06-03
    days on market $180,000 Active 18 DOM
12. 2026-06-02
    days on market $180,000 Active 17 DOM
13. 2026-06-01
    days on market $180,000 Active 16 DOM
14. 2026-05-31
    days on market $180,000 Active 15 DOM
15. 2026-05-17
    listed $180,000 Active
16. 2001-07-16
    historical
17. 2001-02-16
    listed $75,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,283
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$4,364
• Taxable income: $432
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $2,691/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): 20,532
• Household income: $43,725
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 997.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 51% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -119.35%
• Current HPI: 227.8248
• Rent YoY: ▲ 5.16%
• 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

+140.0% since first listed

3 events — show timeline

• 2026-05-17 Listed $180,000 Metro Search MLS
• 2001-07-16 Listing Removed — Metro Search MLS
• 2001-02-16 Listed $75,000 Metro Search MLS