3422 River Park Dr · Louisville, KY 40211

$170,000

4 bd · 2.0 ba · 1,725 sqft · SingleFamily · 29 Days on market

Built 1923 8,002 sqft lot Est $160k · 6% over

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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).

• Cash flow +16.1/30.0
• DSCR +5.0/10.0
• ARV discount +4.8/15.0
• Rent growth +3.7/5.0
• 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

48-hr notice to show required due to tenants. Excellent income-producing opportunity featuring a 4-bedroom, 2-bath home. The single-family property includes a newer 4-year old roof and a recently remodeled main-level full bathroom, while the second full bath is located upstairs. Situated in a growing area with strong upside potential for increased rents and long-term appreciation, this package offers investors the opportunity to expand their portfolio with multiple units in one purchase. Convenient access to everyday amenities adds to the appeal for current and future tenants.

Key facts

• Multiple units
• Newer roof
• 8,002 sq ft lot

Tags

• NEWER ROOF
• REMODELED MAIN-LEVEL BATHROOM
• MULTIPLE UNITS

Property features AI

Finance

• Other: Subdivision: PUSEY ADDN
• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected
• Home design: Single-family residence; Cape Cod style; 2 stories; Built in 1923; Facing direction not specified
• Construction: Wood frame construction; Shingle roof; Poured concrete foundation
• Exterior features: No notable exterior features listed; Sidewalk; Level lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 4 bedrooms total; 2 bedrooms on the first floor; 2 bedrooms on the second floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning; 1 HVAC unit
• Interior features: 6 total rooms; 5 closets; Unfinished basement; Basement present
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/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 $145k (14.7% below list).
• Recommended offer: $145k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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+, crime F.
• 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.
• Zoned schools: Foster Traditional Academy (math 2% / reading 12%, grade F, #662 of 676 statewide, top 99%, 578 students, 84% FRL); Robert Frost Sixth-Grade Academy (math 3% / reading 14%); Waggener High (math 8% / reading 27%, grade F, #221 of 254 statewide, top 87%, 863 students, 66% FRL) — zoned schools average 75% FRL vs 56% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 27% district-wide (-16 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.9%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1,450/mo this rent would consume 55% of the median local household income ($32k/yr) (locally 1483% 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 $1k of loan paydown is wiped out by about $5k 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 29 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 1923 — 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 $144,988 (14.7% below list)

Questions for the listing agent

1. Built in 1923 — 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: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $160,425
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 S 36th St	0.39mi	4/2.0	1,836 (+6%)	7mo	$175,000	$95	66
233 S 41st St	0.65mi	4/2.0	1,765 (+2%)	2mo	$110,000	$62	64
714 Dearborn Ave	0.45mi	3/2.0 (-1)	1,631 (-5%)	1mo	$110,000	$67	64
624 S 39th St	0.42mi	4/2.5	1,596 (-8%)	5mo	$180,000	$113	62
633 S 36th St	0.15mi	4/1.5	1,478 (-14%)	7mo	$150,000	$101	61
309 S 41st St	0.61mi	3/2.0 (-1)	1,675 (-3%)	2mo	$102,000	$61	60
636 S 40th St	0.52mi	3/1.0 (-1)	1,735 (+1%)	7mo	$140,000	$81	59
634 S 38th St	0.34mi	4/2.0	1,500 (-13%)	5mo	$165,000	$110	58
816 Dearborn Ave	0.58mi	3/2.0 (-1)	1,628 (-6%)	2mo	$63,500	$39	57
824 S 36th St	0.52mi	4/2.0	1,568 (-9%)	5mo	$120,000	$77	56
626 S 39th St	0.42mi	5/2.0 (+1)	1,935 (+12%)	7mo	$179,500	$93	49
622 Cecil Ave	0.66mi	5/2.0 (+1)	1,868 (+8%)	8mo	$175,000	$94	44

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.59×
• Total profit: $-19,287
• Equity at exit: $25,348

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,974
• Equity at exit: $14,698

Cash invested: $47,600 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 144
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,450 high
• Mortgage (P&I): −$891
• Tax from tax record: −$96 /mo · $1,155/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $87

Break-even live

Break-even rent $1,340

Max offer price $170,000

Occupancy floor 89%

Sensitivity live

Price	-10% $183	-5% $135	+0% $87	+5% $39	+10% $-9
Rent	-10% $-28	-5% $30	+0% $87	+5% $144	+10% $201
Rate	-1.0pp $172	-0.5pp $130	base $87	+0.5pp $43	+1.0pp $-2

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	25d	1	0.29mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	18d	1	0.30mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	22d	1	0.35mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	25d	1	0.40mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	18d	1	0.40mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	25d	1	0.43mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	5d	1	0.47mi
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	18d	1	0.51mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	5d	1	0.56mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	5d	1	0.58mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	5d	1	0.60mi
4129 W Muhammad Ali Blvd Louisville, KY	4.0	2.0	1224	$1,500	$1.23	3d	1	0.68mi
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	21d	1	0.70mi
803 Cecil Ave Louisville, KY	4.0	1.0	1165	$1,449	$1.24	12d	1	0.75mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	21d	1	0.76mi
714 S 42nd St Louisville, KY	3.0	1.0	1078	$1,150	$1.07	18d	1	0.79mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	5d	1	0.80mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	5d	1	0.83mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	23d	1	0.87mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	18d	1	0.90mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	25d	1	0.91mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	25d	1	0.91mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	22d	1	0.92mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	25d	1	0.92mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	23d	1	0.93mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	25d	1	0.93mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	25d	1	0.93mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.95mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	22d	1	0.98mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	1.01mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	1.02mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	1.03mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	25d	1	1.03mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	18d	1	1.03mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	25d	1	1.08mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	1.13mi
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	25d	1	1.14mi
4220 Sunset Ave Louisville, KY	5.0	1.5	1464	$1,950	$1.33	3d	1	1.15mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	1.17mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	19d	1	1.18mi

Listing history 20 events

1. 2026-06-21
   days on market $170,000 Active 29 DOM
2. 2026-06-18
   days on market $170,000 Active 26 DOM
3. 2026-06-17
   days on market $170,000 Active 25 DOM
4. 2026-06-16
   remarks 583-char remark
5. 2026-06-16
   days on market $170,000 Active 24 DOM
6. 2026-06-15
   days on market $170,000 Active 23 DOM
7. 2026-06-13
   days on market $170,000 Active 21 DOM
8. 2026-06-10
   days on market $170,000 Active 18 DOM
9. 2026-06-09
   days on market $170,000 Active 17 DOM
10. 2026-06-08
    days on market $170,000 Active 16 DOM
11. 2026-06-07
    days on market $170,000 Active 15 DOM
12. 2026-06-03
    days on market $170,000 Active 11 DOM
13. 2026-06-02
    days on market $170,000 Active 10 DOM
14. 2026-06-01
    days on market $170,000 Active 9 DOM
15. 2026-05-31
    days on market $170,000 Active 8 DOM
16. 2026-05-23
    listed $170,000 Active
17. 2008-01-02
    historical
18. 2007-12-02
    historical
19. 2007-12-02
    listed $24,990
20. 2007-02-09
    listed $27,600

ⓘ 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: $1,155 · $96/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$307/yr (+$26/mo · 26.6%)

ⓘ 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 (shaded) · 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 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: $17,399
• − Mortgage interest: −$9,523
• − Property taxes: −$1,155
• − Insurance: −$850
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$4,945
• Taxable loss: −$1,858
• Est. tax savings @ 24.0%: +$446
• After-tax cash flow: $1,488/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 Black (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

+515.9% since first listed

5 events — show timeline

• 2026-05-23 Listed $170,000 Metro Search MLS
• 2008-01-02 Listing Removed — Metro Search MLS
• 2007-12-02 Listed $24,990 Metro Search MLS
• 2007-12-02 Listing Removed — Metro Search MLS
• 2007-02-09 Listed $27,600 Metro Search MLS

Property tax history

+7.3%/yr

Latest (2025): $1,155 · -1.9% YoY. Source: county tax records.