4708 S Rutland Ave · Louisville, KY 40215

$150,000

3 bd · 1.5 ba · 1,046 sqft · SingleFamily · 13 Days on market

Built 1950 5,227 sqft lot Est $175k · 14% under

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Why this score? — see what drove the D+ 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).

• ARV discount +13.9/15.0
• Cash flow +13.7/30.0
• DSCR +4.1/10.0
• Rent growth +3.8/5.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

Key facts

• Spacious living area
• Flexible floor plan
• Single-level living

Tags

• SINGLE-LEVEL LIVING
• OUTDOOR SPACE
• SPACIOUS LIVING AREA
• FUNCTIONAL KITCHEN LAYOUT
• FLEXIBLE FLOOR PLAN
• DETACHED GARAGE

Property features AI

Finance

• Other: Subdivision: SOUTHERN HEIGHTS
• HOA & community: No association fee

Exterior

• Parking: Detached 2-car garage
• Utilities: Electricity connected
• Home design: Single-family ranch-style home; One story; Built in 1950
• Construction: Vinyl siding with wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Wood and chain-link fencing; Located on a cul-de-sac

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms, all on the first floor
• Bathrooms: One full bathroom on the first floor; One half bathroom on the first floor
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Five total rooms; Six closets; No basement; First-floor laundry
• Laundry & utility: Laundry located on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $10 ($122/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 $128k (14.7% below list).
• Recommended offer: $128k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.0% in Louisville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 40 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).
• This rent runs 35% 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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.
• Current owner paid $120k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,933 (14.7% below list)

Questions for the listing agent

1. Built in 1950 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $174,682
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4618 N Rutland Ave	0.14mi	3/1.5	988 (-6%)	1mo	$165,000	$167	84
1215 W Woodlawn Ave	0.20mi	3/1.0	1,119 (+7%)	5mo	$175,000	$156	73
1317 Oakwood Ave	0.52mi	3/1.0	1,018 (-3%)	4mo	$137,500	$135	66
618 W Southern Heights Ave	0.54mi	2/1.0 (-1)	1,036 (-1%)	5mo	$152,500	$147	62
4823 S 4th St	0.62mi	2/1.0 (-1)	1,013 (-3%)	2mo	$225,000	$222	57
3670 Woodruff Ave	0.71mi	3/1.0	1,102 (+5%)	4mo	$159,500	$145	53
3723 Warren Ave	0.50mi	2/1.0 (-1)	930 (-11%)	0mo	$90,000	$97	51
3801 Craig Ave	0.74mi	3/2.0	958 (-8%)	1mo	$198,900	$208	48
527 Forum Ave	0.69mi	3/1.0	1,176 (+12%)	1mo	$215,000	$183	44
210 W Woodlawn Ave	0.70mi	2/2.0 (-1)	1,170 (+12%)	3mo	$227,250	$194	38
3668 Woodruff Ave	0.72mi	3/3.0	1,158 (+11%)	6mo	$212,500	$184	38
1409 Arling Ave	0.74mi	3/2.0	1,200 (+15%)	4mo	$136,250	$114	36

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: -13.5%
• Equity multiple: 0.50×
• Total profit: $-20,823
• Equity at exit: $22,365

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-5,131
• 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: 9.8×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$787
• Tax from tax record: −$151 /mo · $1,817/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $10

Break-even live

Break-even rent $1,267

Max offer price $150,000

Occupancy floor 94%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4046 Taylor Blvd Unit 2 Louisville, KY	2.0	1.0	800	$900	$1.12	24d	1	0.34mi
1022 Stanley Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	21d	1	0.40mi
4725 Southern Pkwy Unit 1 Louisville, KY	2.0	1.0	1296	$925	$0.71	3d	1	0.48mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$895	$1.11	15d	3	0.51mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	16d	1	0.62mi
4608 S 3rd St Unit 1st Floor Louisville, KY	2.0	1.5	1100	$1,500	$1.36	24d	1	0.64mi
3746 Kahlert Ave Louisville, KY	3.0	1.0	955	$1,350	$1.41	16d	1	0.67mi
4122 Craig Ave Louisville, KY	2.0	1.0	705	$1,051	$1.49	12d	1	0.67mi
4113 La Salle Ave Louisville, KY	2.0	1.0	875	$1,249	$1.43	16d	1	0.71mi
1118 W Whitney Ave Louisville, KY	2.0	1.0	771	$1,199	$1.56	24d	1	0.71mi
1517 Shingo Ave Louisville, KY	3.0	2.0	1100	$1,349	$1.23	24d	1	0.75mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	2d	1	0.75mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	12d	1	0.75mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	24d	1	0.77mi
1507 Arling Ave Louisville, KY	3.0	2.0	1148	$1,275	$1.11	16d	1	0.79mi
4000 Churchman Ave Louisville, KY	3.0	1.0	1000	$1,200	$1.20	16d	1	0.80mi
3655 Kahlert Ave Louisville, KY	2.0	1.0	915	$1,300	$1.42	12d	1	0.81mi
4133 S 5th St Louisville, KY	4.0	1.0	1200	$1,435	$1.20	16d	1	0.83mi
104 Kenwood Ct Louisville, KY	2.0	1.0	875	$985	$1.13	24d	1	0.87mi
118 E Ashland Ave Louisville, KY	2.0	1.5	910	$1,200	$1.32	24d	1	0.89mi
551 Denmark St Louisville, KY	3.0	1.5	1160	$1,700	$1.47	24d	1	0.97mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$1,067	$1.33	24d	1	0.98mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$975	$1.22	2d	9	0.98mi
418 Marshall Walk Louisville, KY	2.0	1.0	850	$1,095	$1.29	24d	1	0.99mi
3627 Parthenia Ave Louisville, KY	3.0	1.0	900	$1,245	$1.38	24d	1	1.05mi
3700 Georgetown Pl Louisville, KY	2.0	1.0	800	$901	$1.13	24d	1	1.05mi
3700 Georgetown Pl Unit 2302-201 Louisville, KY	2.0	1.0	800	$901	$1.13	12d	1	1.05mi
119 E Southern Heights Ave Louisville, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	1.06mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	16d	1	1.08mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	24d	1	1.09mi
327 Inverness Ave Louisville, KY	2.0	1.0	820	$1,150	$1.40	16d	1	1.11mi
4007 Southern Pkwy Unit 1 Louisville, KY	4.0	1.0	1500	$1,395	$0.93	3d	1	1.11mi
4406 S Brook St Apt 27 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	12d	1	1.12mi
114 E Florence Ave Apt 21 Louisville, KY	2.0	1.0	936	$1,275	$1.36	24d	1	1.13mi
114 E Florence Ave Unit 19 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	16d	1	1.13mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	16d	1	1.14mi
5013 Wabash Pl Louisville, KY	3.0	2.0	1080	$1,400	$1.30	24d	1	1.17mi
3523 Georgetown Pl #3 Louisville, KY	2.0	1.0	850	$850	$1.00	17d	1	1.17mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	3d	1	1.19mi
3449 Powell Ave Louisville, KY	2.0	1.0	800	$1,000	$1.25	24d	1	1.19mi

Listing history 9 events

1. 2026-05-18
   status Pending
2. 2026-05-04
   listed $150,000 Active
3. 2021-07-20
   soldstatus $120,000
4. 2021-07-19
   soldstatus $120,000 Closed 568-char remark

   Show marketing remark (568 chars)

   With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

5. 2021-06-27
   status Pending 568-char remark

   Show marketing remark (568 chars)

   With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

6. 2021-06-05
   historical Active Under Contract 568-char remark

   Show marketing remark (568 chars)

   With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

7. 2021-06-04
   status Active 568-char remark

   Show marketing remark (568 chars)

   With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

8. 2021-05-30
   historical Active Under Contract 568-char remark

   Show marketing remark (568 chars)

   With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

9. 2021-05-27
   listed $120,000 Active 568-char remark

   Show marketing remark (568 chars)

   With plenty of potential to make it truly your own, this home features 3 bedrooms and 1.5 baths. Fantastic location in a quiet cul-de-sac while also enjoying the convenience of close proximity to Watterson Express and Iroquois Park. The inviting living room opens into the kitchen for the perfect hospitality space for friends and family. Take advantage of the warmer weather and enjoy the spacious deck and fenced-in backyard. Large 2-car garage is perfect for your storage needs and parking. All appliances, washer/dryer, and window units will remain with the home.

ⓘ 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: $1,817 · $151/mo
• Projected year-2 tax: $1,817 · $151/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥105°F today · 18 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,352
• − Mortgage interest: −$8,402
• − Property taxes: −$1,817
• − Insurance: −$750
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$4,364
• Taxable loss: −$2,437
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $707/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

+25.0% since first listed

9 events — show timeline

• 2026-05-18 Pending — Metro Search MLS
• 2026-05-04 Listed $150,000 Metro Search MLS
• 2021-07-20 Sold (Public Records) $120,000 Public Records
• 2021-07-19 Sold (MLS) $120,000 Metro Search MLS
• 2021-06-27 Pending — Metro Search MLS
• 2021-06-05 Contingent — Metro Search MLS
• 2021-06-04 Relisted — Metro Search MLS
• 2021-05-30 Contingent — Metro Search MLS
• 2021-05-27 Listed $120,000 Metro Search MLS

Property tax history

+10.9%/yr

Latest (2025): $1,817 · +17.9% YoY. Source: county tax records.