1203 Sale Ave · Louisville, KY 40215

$145,000

3 bd · 2.5 ba · 2,139 sqft · SingleFamily · 19 Days on market

Built 1920 4,265 sqft lot Est $240k · 39% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

INVESTOR SPECIAL & EQUITY BUILDER! Great opportunity with a 3BR/1BA bungalow at a price point that actually leaves room for improvements. Whether you're looking for a high-performing rental near UofL or a "Derby-home" near Churchill Downs, this one is the canvas to start with. Just minutes from I-65 and the Watterson (I-264) as well as UofL, the track, and downtown. Pull up to the gate in the driveway and walk right up to the inviting front porch already having a swing attached. Enter the home to the living room that stretches along the front of the home. The primary bedroom is on the first floor along with the Full bathroom in the hall. The eat-in kitchen fully equipped wit

Key facts

• Inviting front porch
• Deck and backyard
• Storage shed

Tags

• INVITING FRONT PORCH
• FULLY EQUIPPED KITCHEN
• DECK AND BACKYARD
• FULL WOODEN PRIVACY FENCE
• STORAGE SHED

Property features AI

Finance

• Other: Subdivision: Longfield Avenue
• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas
• Home design: Single-family bungalow; Two stories; Built in 1920
• Construction: Vinyl siding with wood frame construction; Shingle roof; Poured concrete foundation
• Exterior features: Privacy wood fencing; Sidewalks; Cleared, level lot

Interior

• Kitchen: Eat-in kitchen on the first floor
• Bedrooms: Three bedrooms total — one on the first floor and two on the second floor
• Bathrooms: One full bathroom located on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Five total rooms; Five closets; Walkout partially finished basement
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.

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: Semple Elementary (math 2% / reading 12%, grade F, #662 of 676 statewide, top 99%, 574 students, 79% FRL); Frederick Law Olmsted Academy North (math 5% / reading 15%, grade F, #217 of 217 statewide, top 100%, 510 students, 74% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 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 (+5.2%/yr); 118 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).

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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $30k; list at $145k implies a 385% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.68%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $239,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3420 Vetter Ave	0.12mi	4/2.5 (+1)	1,883 (-12%)	4mo	$219,900	$117	66
564 Longfield Ave	0.49mi	3/1.5	2,128 (-0%)	10mo	$199,000	$94	64
802 Longfield Ave	0.42mi	4/2.0 (+1)	2,050 (-4%)	9mo	$260,000	$127	59
3604 Lentz Ave	0.40mi	3/1.0	2,329 (+9%)	3mo	$180,000	$77	58
3712 Kahlert Ave	0.62mi	4/2.0 (+1)	2,104 (-2%)	6mo	$218,000	$104	57
1533 Southgate Ave	0.48mi	3/1.5	2,242 (+5%)	15mo	$205,000	$91	53
3119 Faywood Way	0.61mi	3/2.5	1,978 (-8%)	12mo	$221,500	$112	49
1442 W Southern Heights Ave	0.70mi	4/3.0 (+1)	2,095 (-2%)	15mo	$250,000	$119	44
1302 Weyler Ave	0.47mi	3/1.0	1,843 (-14%)	7mo	$170,000	$92	44
533 W Whitney Ave	0.61mi	3/2.0	1,873 (-12%)	13mo	$193,000	$103	38
1204 Larchmont Ave	0.65mi	3/2.0	1,862 (-13%)	14mo	$215,000	$115	34
4020 Southern Pkwy	0.74mi	4/3.0 (+1)	2,330 (+9%)	20mo	$366,000	$157	27

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: 11.4%
• Equity multiple: 1.46×
• Total profit: $18,800
• Equity at exit: $21,620

10-year hold

• IRR: 22.0%
• Equity multiple: 3.05×
• Total profit: $83,425
• Equity at exit: $12,537

Cash invested: $40,600 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 118
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,903 high
• Mortgage (P&I): −$760
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $598

Break-even live

Break-even rent $1,145

Max offer price $145,000

Occupancy floor 64%

Sensitivity live

Price	-10% $680	-5% $639	+0% $598	+5% $557	+10% $516
Rent	-10% $448	-5% $523	+0% $598	+5% $673	+10% $749
Rate	-1.0pp $671	-0.5pp $635	base $598	+0.5pp $561	+1.0pp $522

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	25d	1	0.27mi
4007 Southern Pkwy Unit 1 Louisville, KY	4.0	1.0	1500	$1,395	$0.93	4d	1	0.81mi
4010 Taylor Blvd Louisville, KY	4.0	2.0	1612	$3,000	$1.86	17d	1	0.86mi
4513 S 6th St Louisville, KY	3.0	2.0	1581	$2,650	$1.68	25d	1	0.94mi
3102 Grant Ave Louisville, KY	4.0	2.0	1603	$1,595	$1.00	25d	1	1.02mi
2718 S 3rd St Unit 2 Louisville, KY	4.0	2.0	2000	$2,800	$1.40	13d	1	1.24mi
2711 S 3rd St Unit 1 Louisville, KY	4.0	2.0	1800	$2,400	$1.33	13d	1	1.28mi
516 Colorado Ave Louisville, KY	3.0	2.0	2000	$1,800	$0.90	17d	1	1.37mi
510 Colorado Ave Louisville, KY	3.0	2.0	1500	$1,750	$1.17	25d	1	1.38mi

Listing history 12 events

1. 2026-06-08
   statusdays on market $145,000 Pending 19 DOM
2. 2026-06-07
   days on market $145,000 Active 18 DOM
3. 2026-06-03
   days on market $145,000 Active 14 DOM
4. 2026-06-02
   days on market $145,000 Active 13 DOM
5. 2026-06-01
   days on market $145,000 Active 12 DOM
6. 2026-05-31
   days on market $145,000 Active 11 DOM
7. 2026-05-20
   listed $145,000 Active
8. 2026-04-15
   price $152,000
9. 2012-05-10
   soldstatus $29,900
10. 2012-03-28
    listed $29,900
11. 2000-12-06
    soldstatus $69,000
12. 2000-11-01
    listed $69,500

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$239/yr (+$20/mo · 23.7%)

ⓘ 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 ≥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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,832
• − Mortgage interest: −$8,122
• − Property taxes: −$1,008
• − Insurance: −$725
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$4,218
• Taxable income: $5,105
• Est. tax owed @ 24.0%: −$1,225
• After-tax cash flow: $5,954/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

+108.6% since first listed

6 events — show timeline

• 2026-05-20 Listed $145,000 Metro Search MLS
• 2026-04-15 Price Changed $152,000 Metro Search MLS
• 2012-05-10 Sold (MLS) $29,900 Metro Search MLS
• 2012-03-28 Listed $29,900 Metro Search MLS
• 2000-12-06 Sold (MLS) $69,000 Metro Search MLS
• 2000-11-01 Listed $69,500 Metro Search MLS

Property tax history

-0.1%/yr

Latest (2025): $1,008 · -1.9% YoY. Source: county tax records.