120 N 28th St · Louisville, KY 40212

$85,000

1 bd · 1.0 ba · 698 sqft · SingleFamily · 571 Days on market

Built 1930 3,000 sqft lot Est $69k · 23% over

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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 +20.6/30.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

This property is a versatile option, making it ideal for both first-time homebuyers and savvy investors. It boasts a fully fenced yard, providing privacy for families or individuals with pets. One of its standout features is the spacious 2-car detached garage, offering ample room for vehicle parking and potential storage or a workshop area. The convenience factor is further enhanced with all existing appliances included in the sale, ensuring a smooth transition for the new owner. Huge attic storage with pull down steps. Additionally, the charming front porch adds character and is a welcoming space to relax or socialize. Whether you're looking for a cozy starter home or a promising investment opportunity, this property offers a compelling package of features and potential benefits.

Key facts

• Storage building
• Deck
• 3,000 sq ft lot

Tags

• STORAGE BUILDING
• DECK

Property features AI

Finance

• Other: Located on 0.07-acre lot; Living area reported as 698
• HOA & community: No association fee; No monthly maintenance

Exterior

• Parking: Detached 2-car garage
• Utilities: Electricity connected
• Home design: Single-family residence; One story
• Construction: Built in 1930; Wood frame with aluminum siding; Shingle roof
• Exterior features: Level lot; Chain-link fencing; Lot dimensions about 25 x 120

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Natural gas heating; Wall/window air-conditioning unit(s)
• Interior features: Four total rooms; Two closets; No basement; Craft/hobby room
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $114 ($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 $82k (3.6% below list).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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+, 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 flat; 141 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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

• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 0.5% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 571 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $85k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 571 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.96% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $69,102
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2708 Duncan St	0.12mi	2/1.0 (+1)	668 (-4%)	18mo	$73,000	$109	67
3120 W Jefferson St	0.40mi	1/1.0	731 (+5%)	9mo	$89,000	$122	66
219 N 37th St	0.74mi	2/1.0 (+1)	700 (+0%)	9mo	$69,000	$99	52
314 N 21st St	0.74mi	1/1.0	791 (+13%)	1mo	$13,000	$16	42
3438 W Jefferson St	0.65mi	2/1.0 (+1)	660 (-5%)	21mo	$48,800	$74	38
2414 Saint Xavier St	0.59mi	1/1.0	768 (+10%)	23mo	$35,000	$46	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.16×
• Total profit: $51,504
• Equity at exit: $76,575

10-year hold

• IRR: 23.4%
• Equity multiple: 6.98×
• Total profit: $142,276
• Equity at exit: $165,136

Cash invested: $23,800 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 141
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $819 high
• Mortgage (P&I): −$446
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $114

Break-even live

Break-even rent $675

Max offer price $85,000

Occupancy floor 81%

Sensitivity live

Price	-10% $162	-5% $138	+0% $114	+5% $90	+10% $65
Rent	-10% $49	-5% $81	+0% $114	+5% $146	+10% $178
Rate	-1.0pp $156	-0.5pp $135	base $114	+0.5pp $92	+1.0pp $69

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	22d	1	0.29mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	24d	1	0.29mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	24d	1	0.31mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	21d	1	0.31mi
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	17d	1	0.32mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	24d	1	0.59mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	24d	1	0.61mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	24d	1	0.61mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	18d	1	0.71mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	24d	1	0.72mi
2722 Portland Ave Unit 1 Louisville, KY	1.0	1.0	500	$950	$1.90	24d	1	0.72mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	4d	1	0.73mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	24d	1	0.73mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	24d	1	0.77mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	18d	1	0.79mi
521 N 33rd St Louisville, KY	1.0	1.0	650	$795	$1.22	24d	1	0.82mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	24d	1	0.84mi
519 N 20th St Louisville, KY	1.0	1.0	550	$795	$1.45	24d	1	0.90mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	21d	1	0.95mi
691 Madelon Ct Louisville, KY	1.0	1.0	650	$675	$1.04	12d	1	1.01mi
127 Boston Ct Louisville, KY	2.0	1.0	725	$1,100	$1.52	24d	1	1.10mi
112 Boston Ct Louisville, KY	1.0	1.0	650	$800	$1.23	24d	1	1.10mi
4143 W Market St Unit 2 Louisville, KY	2.0	1.0	700	$850	$1.21	24d	1	1.13mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	4d	1	1.19mi
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	4d	1	1.20mi
2513 Date St Unit 2 Louisville, KY	1.0	1.0	700	$745	$1.06	4d	1	1.27mi
3515 W Kentucky St Unit 3515-12 Louisville, KY	1.0	1.0	700	$695	$0.99	24d	1	1.39mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	24d	1	1.40mi

Listing history 23 events

1. 2026-06-21
   days on market $85,000 Active 571 DOM
2. 2026-06-18
   days on market $85,000 Active 568 DOM
3. 2026-06-17
   days on market $85,000 Active 567 DOM
4. 2026-06-16
   days on market $85,000 Active 566 DOM
5. 2026-06-15
   days on market $85,000 Active 565 DOM
6. 2026-06-13
   days on market $85,000 Active 563 DOM
7. 2026-06-10
   days on market $85,000 Active 560 DOM
8. 2026-06-09
   days on market $85,000 Active 559 DOM
9. 2026-06-08
   days on market $85,000 Active 558 DOM
10. 2026-06-07
    days on market $85,000 Active 557 DOM
11. 2026-06-03
    days on market $85,000 Active 553 DOM
12. 2026-06-02
    days on market $85,000 Active 552 DOM
13. 2026-06-01
    days on market $85,000 Active 551 DOM
14. 2026-05-31
    days on market $85,000 Active 550 DOM
15. 2026-05-02
    price $85,000
16. 2025-06-27
    price $90,000
17. 2024-11-27
    listed $99,900 Active
18. 2024-03-29
    soldstatus $49,950 Closed 792-char remark

    Show marketing remark (792 chars)

    This property is a versatile option, making it ideal for both first-time homebuyers and savvy investors. It boasts a fully fenced yard, providing privacy for families or individuals with pets. One of its standout features is the spacious 2-car detached garage, offering ample room for vehicle parking and potential storage or a workshop area. The convenience factor is further enhanced with all existing appliances included in the sale, ensuring a smooth transition for the new owner. Huge attic storage with pull down steps. Additionally, the charming front porch adds character and is a welcoming space to relax or socialize. Whether you're looking for a cozy starter home or a promising investment opportunity, this property offers a compelling package of features and potential benefits.

19. 2023-11-17
    historical Active Under Contract 792-char remark

    Show marketing remark (792 chars)

    This property is a versatile option, making it ideal for both first-time homebuyers and savvy investors. It boasts a fully fenced yard, providing privacy for families or individuals with pets. One of its standout features is the spacious 2-car detached garage, offering ample room for vehicle parking and potential storage or a workshop area. The convenience factor is further enhanced with all existing appliances included in the sale, ensuring a smooth transition for the new owner. Huge attic storage with pull down steps. Additionally, the charming front porch adds character and is a welcoming space to relax or socialize. Whether you're looking for a cozy starter home or a promising investment opportunity, this property offers a compelling package of features and potential benefits.

20. 2023-11-15
    listed $49,949 Active 792-char remark

    Show marketing remark (792 chars)

    This property is a versatile option, making it ideal for both first-time homebuyers and savvy investors. It boasts a fully fenced yard, providing privacy for families or individuals with pets. One of its standout features is the spacious 2-car detached garage, offering ample room for vehicle parking and potential storage or a workshop area. The convenience factor is further enhanced with all existing appliances included in the sale, ensuring a smooth transition for the new owner. Huge attic storage with pull down steps. Additionally, the charming front porch adds character and is a welcoming space to relax or socialize. Whether you're looking for a cozy starter home or a promising investment opportunity, this property offers a compelling package of features and potential benefits.

21. 2008-05-14
    soldstatus $20,000
22. 2008-05-13
    soldstatus $20,000 136-char remark

    Show marketing remark (136 chars)

    Attention Investors! Presently rented $350.00. Priced $5,000 or Below Assessment. Seller will look at All Reasonable Offers. MOTIVATED!!

23. 2008-01-29
    listed $22,900 136-char remark

    Show marketing remark (136 chars)

    Attention Investors! Presently rented $350.00. Priced $5,000 or Below Assessment. Seller will look at All Reasonable Offers. MOTIVATED!!

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $731 · $61/mo
• Expected delta: +$102/yr (+$8/mo · 16.1%)

ⓘ 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 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: $9,831
• − Mortgage interest: −$4,761
• − Property taxes: −$629
• − Insurance: −$425
• − Repairs & maintenance: −$786
• − Management: −$786
• − Depreciation: −$2,473
• Taxable loss: −$31
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $1,370/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

+271.2% since first listed

9 events — show timeline

• 2026-05-02 Price Changed $85,000 Metro Search MLS
• 2025-06-27 Price Changed $90,000 Metro Search MLS
• 2024-11-27 Listed $99,900 Metro Search MLS
• 2024-03-29 Sold (MLS) $49,950 Metro Search MLS
• 2023-11-17 Contingent — Metro Search MLS
• 2023-11-15 Listed $49,949 Metro Search MLS
• 2008-05-14 Sold (Public Records) $20,000 Public Records
• 2008-05-13 Sold (MLS) $20,000 Metro Search MLS
• 2008-01-29 Listed $22,900 Metro Search MLS

Property tax history

+7.9%/yr

Latest (2025): $629 · +39.1% YoY. Source: county tax records.