2125 S 39th St · Louisville, KY 40211

$125,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily · 56 Days on market

Built 1951 5,798 sqft lot Est $158k · 21% under

---

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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.7/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS-IS. CASE #201-243594. INSURED STATUS:IN. TO SUBMIT OFFERS, CALL 888-292-3917 OR SEE WWW.GOLDENFEATHER.COM. ADD'L QUESTIONS: 800-336-1399. LBP. IC:SYSTEMS. KEY @TAYLORSVILLE OFFICE. CALL AGENT

Key facts

• Walk-in closet
• New ceiling fans
• Eat-in kitchen

Tags

• UPDATED RANCH STYLE HOME
• LIGHT BRIGHT LIVING ROOM
• WALK-IN CLOSET
• EAT-IN KITCHEN
• NEW VINYL PLANK FLOORING
• NEW CEILING FANS

Property features AI

Finance

• Other: Located in the Belquin subdivision; Directions: I-264 to Bells Ln. to street
• HOA & community: No association fee

Exterior

• Parking: No garage; Surface parking available (3 surface spaces)
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch-style home; One story; Built in 1951
• Construction: Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Sidewalks; Cleared, level lot; Partial chain-link fencing

Interior

• Bedrooms: Three bedrooms (primary bedroom on the first floor)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; One HVAC/heating unit and one cooling unit
• Interior features: Five total rooms; Three closets; Basement: None; First-floor primary bedroom; First-floor laundry
• Laundry & utility: Laundry located on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/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 $121k (3.0% below list).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+4.9%/yr); 140 active listings in the ZIP; 26 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).
• At $1,213/mo this rent would consume 46% 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 $864 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 56 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $35k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $125k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1951 — 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: 0.97% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $158,100
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3721 Penway Ave	0.13mi	3/2.0	1,080 (+6%)	10mo	$170,000	$157	72
3326 Penway Ave	0.48mi	3/1.0	1,022 (+0%)	14mo	$158,000	$155	66
2031 S 41st St	0.23mi	2/1.0 (-1)	1,056 (+4%)	21mo	$130,000	$123	61
3410 Chauncey Ave	0.68mi	2/1.0 (-1)	1,044 (+2%)	14mo	$72,500	$69	48
3305 Pacific Ct	0.64mi	4/1.5 (+1)	1,125 (+10%)	14mo	$200,000	$178	34

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: -4.4%
• Equity multiple: 0.83×
• Total profit: $-5,852
• Equity at exit: $18,638

10-year hold

• IRR: 7.1%
• Equity multiple: 1.58×
• Total profit: $20,254
• Equity at exit: $10,808

Cash invested: $35,000 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 140
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$656
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $190

Break-even live

Break-even rent $972

Max offer price $125,000

Occupancy floor 79%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2128 S 40th St Louisville, KY	2.0	1.0	942	$980	$1.04	16d	1	0.10mi
2016 S 40th St Louisville, KY	2.0	1.0	700	$980	$1.40	16d	1	0.23mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,304	$1.61	2d	1	0.37mi
3313 Penway Ave Louisville, KY	4.0	2.0	1142	$1,645	$1.44	24d	1	0.53mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	12d	1	0.72mi
3005 Linwood Ave Louisville, KY	2.0	1.0	700	$1,025	$1.46	16d	1	0.77mi
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	16d	1	0.83mi
1622 Beech St Louisville, KY	4.0	1.0	1108	$1,445	$1.30	16d	1	0.90mi
1927 S 28th St Louisville, KY	2.0	1.0	700	$1,200	$1.71	24d	1	0.93mi
3611 Regatta Way Louisville, KY	3.0	1.0	1035	$1,450	$1.40	16d	1	0.98mi
2629 Olive St Louisville, KY	4.0	1.0	1120	$1,500	$1.34	24d	1	1.01mi
2706 Wyandotte Ave Louisville, KY	2.0	1.0	756	$1,295	$1.71	3d	1	1.05mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	24d	1	1.08mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	1.09mi
4514 Winnrose Way Louisville, KY	3.0	1.5	1064	$1,500	$1.41	2d	1	1.09mi
1145 Louis Coleman Jr Dr Louisville, KY	2.0	1.0	913	$875	$0.96	24d	1	1.24mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	24d	1	1.26mi
2311 Plantation Dr Louisville, KY	3.0	1.0	988	$1,200	$1.21	16d	1	1.26mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	1.29mi
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	24d	1	1.31mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	21d	1	1.31mi
1816 Gregg Ave Louisville, KY	2.0	2.0	773	$1,100	$1.42	16d	1	1.34mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	1.36mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	1.37mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	24d	1	1.40mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	1.40mi

Listing history 14 events

1. 2026-06-07
   statusdays on market $125,000 Pending 56 DOM
2. 2026-06-03
   days on market $125,000 Active Under Contract 54 DOM
3. 2026-06-02
   statusdays on market $125,000 Active Under Contract 53 DOM
4. 2026-06-01
   days on market $125,000 Active 52 DOM
5. 2026-05-31
   days on market $125,000 Active 51 DOM
6. 2026-05-19
   price $125,000
7. 2026-05-04
   price $129,900
8. 2026-04-29
   status Active
9. 2026-04-25
   historical Active Under Contract
10. 2026-04-23
    price $132,500
11. 2026-04-13
    price $139,900
12. 2026-04-10
    listed $159,900 Active
13. 2001-10-02
    soldstatus $34,000 199-char remark

    Show marketing remark (199 chars)

    SOLD AS-IS. CASE #201-243594. INSURED STATUS:IN. TO SUBMIT OFFERS, CALL 888-292-3917 OR SEE WWW.GOLDENFEATHER.COM. ADD'L QUESTIONS: 800-336-1399. LBP. IC:SYSTEMS. KEY @TAYLORSVILLE OFFICE. CALL AGENT

14. 2001-08-31
    listed $32,500 199-char remark

    Show marketing remark (199 chars)

    SOLD AS-IS. CASE #201-243594. INSURED STATUS:IN. TO SUBMIT OFFERS, CALL 888-292-3917 OR SEE WWW.GOLDENFEATHER.COM. ADD'L QUESTIONS: 800-336-1399. LBP. IC:SYSTEMS. KEY @TAYLORSVILLE OFFICE. CALL AGENT

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $1,075 · $90/mo
• Expected delta: +$353/yr (+$29/mo · 49.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 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: $14,552
• − Mortgage interest: −$7,002
• − Property taxes: −$722
• − Insurance: −$625
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$3,636
• Taxable income: $239
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $2,226/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

+284.6% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $125,000 Metro Search MLS
• 2026-05-04 Price Changed $129,900 Metro Search MLS
• 2026-04-29 Relisted — Metro Search MLS
• 2026-04-25 Contingent — Metro Search MLS
• 2026-04-23 Price Changed $132,500 Metro Search MLS
• 2026-04-13 Price Changed $139,900 Metro Search MLS
• 2026-04-10 Listed $159,900 Metro Search MLS
• 2001-10-02 Sold (MLS) $34,000 Metro Search MLS
• 2001-08-31 Listed $32,500 Metro Search MLS

Property tax history

+10.1%/yr

Latest (2025): $722 · -1.9% YoY. Source: county tax records.