1700 Rosewood Ave · Louisville, KY 40204

$425,000

20 bd · 20.0 ba · 2,933 sqft · MultiFamily · 22 Days on market

Built 1900 4,500 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Incredible real estate opportunity in the heart of Louisville's vibrant Highlands neighborhood. This versatile 4-plex boasts a rock-solid rental history alongside immense upside potential to optimize market rents. Perfect for a savvy investor or an owner-occupant looking to live in one unit while letting the others pay the mortgage. Location is unbeatable, minutes to the bustling Bardstown Road corridor and its premier selection of dining, retail, and local nightlife. Utility setup is highly efficient for ownership, featuring separate electric meters for every tenant and a single common gas meter. Multi-family assets with this level of flexibility and location longevity rarely stay on the m

Key facts

• Common gas meter
• 4,500 sq ft lot
• 3 parking spots

Tags

• HIGHLANDS NEIGHBORHOOD
• ROCK-SOLID RENTAL HISTORY
• SEPARATE ELECTRIC METERS
• COMMON GAS METER

Property features AI

Finance

• Other: Building area reported as 2,933 total living area
• Financial info: Multi-unit property with 4 total units across three levels; First level: 1 unit (rent listed as 650); Second level: 2 units (rents listed as 800 each); Third level: 1 unit (rent listed as 400); Tenant pays cable and electric; owner pays gas and water
• HOA & community: No association fee

Exterior

• Parking: 3 parking spaces
• Utilities: Electricity connected; Natural gas available
• Home design: Traditional style; Main structure not in a flood plain
• Construction: Built in 1900; Vinyl siding; Metal and shingle roof
• Exterior features: Balcony

Interior

• Kitchen: First level: kitchen with range and refrigerator; Second level: two kitchens each with range and refrigerator; Third level: kitchen with range and refrigerator
• Bedrooms: Total of 5 bedrooms; Third level contains 1 bedroom; Second level contains 2 bedrooms; First level contains 2 bedrooms
• Bathrooms: Third level: 1 full bath; Second level: 2 full baths; First level: 2 full baths
• Heating & cooling: Natural gas heating (4 furnaces); Central air conditioning
• Interior features: Balcony
• Laundry & utility: Separate meters for units

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/5.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $768/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $425k).
• Recommended offer: $419k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.0% 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 (+5.8%/yr); 99 active listings in the ZIP; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $7,421/mo this rent would consume 125% of the median local household income ($71k/yr) (locally 761% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $119k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $418,625 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 14.97%
• Cash-on-cash: 31.00%
• DSCR: 2.38
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.76% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.24×
• Total profit: $148,106
• Equity at exit: $63,369

10-year hold

• IRR: 37.7%
• Equity multiple: 4.98×
• Total profit: $473,108
• Equity at exit: $36,746

Cash invested: $119,000 (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 40204

• Rents YoY: 5.8%
• Active inventory: 99
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $7,421 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$383 /mo · $4,595/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,558
• Net cashflow: $3,074

Break-even live

Break-even rent $3,530

Max offer price $425,000

Occupancy floor 54%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	5	5	$7,420
Total (4 units)			$7,421

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $425,000 Active 22 DOM
2. 2026-06-17
   days on market $425,000 Active 21 DOM
3. 2026-06-16
   days on market $425,000 Active 20 DOM
4. 2026-06-15
   days on market $425,000 Active 19 DOM
5. 2026-06-13
   days on market $425,000 Active 17 DOM
6. 2026-06-10
   days on market $425,000 Active 14 DOM
7. 2026-06-09
   days on market $425,000 Active 13 DOM
8. 2026-06-08
   days on market $425,000 Active 12 DOM
9. 2026-06-07
   days on market $425,000 Active 11 DOM
10. 2026-06-03
    days on market $425,000 Active 7 DOM
11. 2026-06-02
    days on market $425,000 Active 6 DOM
12. 2026-06-01
    days on market $425,000 Active 5 DOM
13. 2026-05-31
    days on market $425,000 Active 4 DOM
14. 2026-05-27
    listed $425,000 Active
15. 2019-04-05
    soldstatus $427,977
16. 2005-01-22
    historical
17. 2004-01-25
    listed $239,500

ⓘ 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: $4,595 · $383/mo
• Projected year-2 tax: $4,595 · $383/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 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,052
• − Mortgage interest: −$23,807
• − Property taxes: −$4,595
• − Insurance: −$2,125
• − Repairs & maintenance: −$7,124
• − Management: −$7,124
• − Depreciation: −$12,364
• Taxable income: $31,914
• Est. tax owed @ 24.0%: −$7,659
• After-tax cash flow: $29,227/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): 14,034
• Household income: $71,116
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 761.0

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: Predominantly White (84%)
• Race & ethnicity: White 84% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 3% Serbian 3% Romanian 3%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 95% English-only · Spanish 2% Korean 1% Chinese 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: ▼ -475.25%
• Current HPI: 246.3191
• Rent YoY: ▲ 5.76%
• 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

+77.5% since first listed

4 events — show timeline

• 2026-05-27 Listed $425,000 Metro Search MLS
• 2019-04-05 Sold (Public Records) $427,977 Public Records
• 2005-01-22 Listing Removed — Metro Search MLS
• 2004-01-25 Listed $239,500 Metro Search MLS

Property tax history

+6.7%/yr

Latest (2025): $4,595 · -1.9% YoY. Source: county tax records.