2519 Magazine St · Louisville, KY 40211

$89,900

4 bd · 2.0 ba · 1,640 sqft · SingleFamily · 18 Days on market

Built 1900 6,098 sqft lot Est $151k · 40% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Back on the market due to Buyer Financing falling through. Step into the charm and character of classic Louisville living with this spacious 2-story home in the heart of the Russell neighborhood. With over-sized living spaces, timeless architectural details, and room to grow, this 4-bedroom, 2-bathroom home is full of opportunity for a buyer ready to make it their own. Inside, you'll find a massive living room centered around a fireplace that creates the perfect gathering space for cozy evenings, holiday celebrations, or entertaining family and friends. The formal dining room offers plenty of room for dinners and special occasions, while the flexible layout provides the space today's buyers

Key facts

• 6,098 sq ft lot
• Built 1900
• Listed 18 days

Property features AI

Finance

• Other: Subdivision: RUSSELL
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; Two-story home
• Construction: Built in 1900; Vinyl siding with wood-frame construction; Shingle roof; Concrete block and poured concrete foundation
• Exterior features: Balcony; Partial fencing; Sidewalks; Level yard

Interior

• Kitchen: Main kitchen on the first floor; Second-floor kitchen conversion (former 4th bedroom)
• Bedrooms: Four bedrooms (all on the second floor; one bedroom has been converted to a second-floor kitchen but is still counted as a bedroom)
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced-air heating powered by natural gas
• Interior features: Seven total rooms; Unfinished cellar basement
• 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 $90k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 (+4.9%/yr); 140 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,420/mo this rent would consume 54% 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 $622 of loan paydown is wiped out by about $3k 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 + 4.9% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.58% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.87%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $150,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2532 Garland Ave	0.51mi	4/2.5	1,720 (+5%)	8mo	$159,000	$92	60
852 Humler St	0.45mi	4/1.0	1,620 (-1%)	16mo	$70,000	$43	60
2223 Cedar St	0.40mi	4/3.0	1,564 (-5%)	12mo	$190,000	$121	60
2124 W Kentucky St	0.70mi	4/2.0	1,675 (+2%)	5mo	$180,000	$107	59
2715 W Market St	0.58mi	4/2.0	1,735 (+6%)	8mo	$139,000	$80	56
218 S 25th St	0.48mi	3/2.0 (-1)	1,523 (-7%)	10mo	$130,000	$85	52
3015 River Park Dr	0.50mi	3/1.5 (-1)	1,560 (-5%)	12mo	$50,000	$32	52
2529 W Jefferson St	0.44mi	3/2.0 (-1)	1,496 (-9%)	11mo	$28,500	$19	50
2203 W Kentucky St	0.67mi	3/2.0 (-1)	1,672 (+2%)	13mo	$170,000	$102	50
2330 W Kentucky St	0.65mi	5/2.0 (+1)	1,508 (-8%)	12mo	$171,000	$113	42
1825 W Muhammad Ali Blvd	0.63mi	3/2.5 (-1)	1,817 (+11%)	6mo	$195,000	$107	41
2108 W Kentucky St	0.72mi	4/1.5	1,459 (-11%)	8mo	$80,000	$55	39

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: 19.2%
• Equity multiple: 1.80×
• Total profit: $20,067
• Equity at exit: $13,404

10-year hold

• IRR: 28.8%
• Equity multiple: 3.79×
• Total profit: $70,232
• Equity at exit: $7,773

Cash invested: $25,172 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,420 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $501

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 60%

Sensitivity live

Price	-10% $563	-5% $532	+0% $501	+5% $470	+10% $439
Rent	-10% $389	-5% $445	+0% $501	+5% $557	+10% $613
Rate	-1.0pp $546	-0.5pp $524	base $501	+0.5pp $477	+1.0pp $454

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	16d	1	0.26mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	24d	1	0.27mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.49mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	17d	1	0.51mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	0.54mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.56mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	0.56mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	24d	1	0.57mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	0.62mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	11d	1	0.62mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	0.63mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	24d	1	0.71mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	24d	1	0.72mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	3d	1	0.75mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	0.75mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	0.77mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	0.77mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	24d	1	0.79mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	24d	1	0.81mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	0.83mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	3d	1	0.86mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	0.87mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	0.94mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	0.95mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	3d	1	1.02mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	24d	1	1.06mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	1.06mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	1.07mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	1.11mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	24d	1	1.12mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	1.14mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	16d	1	1.18mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	1.19mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	24d	1	1.21mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	1.22mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	20d	1	1.23mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	3d	1	1.24mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	21d	1	1.26mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	16d	1	1.28mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	24d	1	1.33mi

Listing history 6 events

1. 2026-06-18
   days on market $89,900 Active 18 DOM
2. 2026-06-17
   price $89,900 Active 17 DOM
3. 2026-06-17
   days on market $95,000 Active 17 DOM
4. 2026-06-16
   statusdays on market $95,000 Active 16 DOM
5. 2026-05-23
   status Pending
6. 2026-05-07
   listed $95,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,043
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − Depreciation: −$2,615
• Taxable income: $4,867
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $4,841/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

2 events — show timeline

• 2026-05-23 Pending — Metro Search MLS
• 2026-05-07 Listed $95,000 Metro Search MLS

Property tax history

-20.9%/yr

Latest (2025): $69 · -34.6% YoY. Source: county tax records.