2618 W Main St · Louisville, KY 40212

$177,000

3 bd · 1.0 ba · 1,573 sqft · SingleFamily · 19 Days on market

Built 1900 5,400 sqft lot

---

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 +11.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +2.3/10.0

Listing remarks MLS

Step into this historic shotgun style home, where charming architecture meets endless potential. Admire the beautiful wood molding and the warm wood flooring that speaks of a bygone era. With three bedrooms, one easily adaptable to meet your needs, there's room to grow and personalize. The kitchen beckons with its charming pantry, breakfast nook and large window to bring in the light, and it's conveniently adjacent to the laundry room. A rare find, this home also features a usable cellar - great for storage or expansion - and a huge storage shed in the backyard. Both are unique to similar properties. Situated near museums, theaters, and the vibrant downtown Louisville scene, you can savor the comforts of home while enjoying the excitement of city life. Don't miss out - call today!

Key facts

• Newer appliances
• Charming kitchen
• Usable cellar

Tags

• COMPLETELY RENOVATED INTERIOR
• FUNCTIONAL LAYOUT
• NEWER APPLIANCES
• CHARMING KITCHEN
• ADJACENT TO LAUNDRY ROOM
• USABLE CELLAR

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Utilities: Electricity connected; Natural gas service
• Home design: Single-family residence; Shotgun-style architecture; One story; Entry level on the first floor
• Construction: Built in 1900; Vinyl siding and wood frame construction; Shingle roof; Concrete block foundation
• Exterior features: Chain link fencing; Sidewalk along the lot; Irregular-shaped lot (approx. 30 x 180)

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Three bedrooms, all on the first floor; First-floor primary bedroom
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; One HVAC unit
• Interior features: Six total rooms; Five closets; Foyer on the first floor; Cellar basement
• Laundry & utility: Laundry room on the first floor; First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $177k.

Deal economics

• At list price, monthly cash flow is $-61 ($-727/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (27.4% below list).
• Recommended offer: $128k (27.4% below list) — sets the bar for 1% rule.

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: Atkinson Academy (math 8% / reading 12%, grade F, #648 of 676 statewide, top 98%, 327 students, 88% FRL); Crosby Middle (math 32% / reading 49%, grade F, #57 of 217 statewide, top 26%, 1,016 students, 46% FRL).
• Market conditions: Rents flat; 141 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).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $70k; list at $177k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $128,464 (27.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — 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. 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?
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: 0.73% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $89,661
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 N 27th St	0.42mi	3/1.0	1,540 (-2%)	3mo	$100,000	$65	74
218 S 25th St	0.20mi	3/2.0	1,523 (-3%)	10mo	$130,000	$85	73
2333 Duncan St	0.35mi	3/1.0	1,480 (-6%)	5mo	$83,750	$57	69
2616 Duncan St	0.19mi	2/1.0 (-1)	1,440 (-8%)	7mo	$48,000	$33	66
2715 W Market St	0.07mi	4/2.0 (+1)	1,735 (+10%)	8mo	$139,000	$80	64
2429 Griffiths Ave	0.48mi	3/2.0	1,645 (+5%)	4mo	$90,000	$55	63
114 S 33rd St	0.61mi	3/1.5	1,453 (-8%)	4mo	$110,000	$76	54
2409 Griffiths Ave	0.49mi	3/1.5	1,374 (-13%)	6mo	$37,000	$27	49
207 N 19th St	0.75mi	3/1.0	1,464 (-7%)	7mo	$60,000	$41	48
2010 W Market St	0.61mi	3/2.0	1,376 (-12%)	4mo	$135,000	$98	43
2012 W Main St	0.59mi	4/2.0 (+1)	1,344 (-15%)	8mo	$72,000	$54	32
2010 St Xavier St	0.70mi	4/1.5 (+1)	1,780 (+13%)	11mo	$75,000	$42	29

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: 22.5%
• Equity multiple: 2.80×
• Total profit: $89,328
• Equity at exit: $159,456

10-year hold

• IRR: 19.7%
• Equity multiple: 6.25×
• Total profit: $260,202
• Equity at exit: $343,872

Cash invested: $49,560 (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: 11.5×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$928
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-61

Break-even live

Break-even rent $1,361

Max offer price $166,296

Occupancy floor 100%

Sensitivity live

Price	-10% $40	-5% $-10	+0% $-61	+5% $-111	+10% $-161
Rent	-10% $-162	-5% $-111	+0% $-61	+5% $-10	+10% $41
Rate	-1.0pp $29	-0.5pp $-16	base $-61	+0.5pp $-106	+1.0pp $-153

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	0.13mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.18mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.23mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.41mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.48mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	17d	1	0.50mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.65mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	5d	1	0.74mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	5d	4	0.81mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.87mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	0.90mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	0.96mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	12d	1	1.04mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	25d	1	1.09mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	5d	1	1.09mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	22d	1	1.09mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	5d	1	1.11mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	1.12mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	4d	1	1.13mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	22d	1	1.14mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	25d	1	1.14mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	22d	1	1.16mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	25d	1	1.16mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	17d	1	1.16mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	5d	1	1.17mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	25d	1	1.19mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	25d	1	1.20mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	25d	1	1.21mi
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	21d	1	1.26mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	17d	1	1.26mi
3922 River Park Dr Louisville, KY	2.0	2.0	1800	$1,195	$0.66	13d	1	1.27mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	25d	1	1.31mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	25d	1	1.31mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	25d	1	1.31mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	1.33mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	17d	1	1.35mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	5d	1	1.36mi
4129 W Muhammad Ali Blvd Louisville, KY	4.0	2.0	1224	$1,500	$1.23	3d	1	1.38mi
644 S 40th St Louisville, KY	2.0	1.0	1200	$1,500	$1.25	4d	1	1.39mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	5d	1	1.45mi

Listing history 12 events

1. 2026-06-21
   days on market $177,000 Active 19 DOM
2. 2026-06-18
   days on market $177,000 Active 16 DOM
3. 2026-06-17
   days on market $177,000 Active 15 DOM
4. 2026-06-16
   days on market $177,000 Active 14 DOM
5. 2026-06-15
   days on market $177,000 Active 13 DOM
6. 2026-06-13
   days on market $177,000 Active 11 DOM
7. 2026-06-10
   days on market $177,000 Active 8 DOM
8. 2026-06-09
   days on market $177,000 Active 7 DOM
9. 2026-06-08
   days on market $177,000 Active 6 DOM
10. 2026-06-07
    days on market $177,000 Active 5 DOM
11. 2026-06-03
    remarks 498-char remark
12. 2026-06-03
    listed $177,000 Active 1 DOM

ⓘ 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: $882 · $74/mo
• Projected year-2 tax: $1,522 · $127/mo
• Expected delta: +$640/yr (+$53/mo · 72.6%)

ⓘ 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 ≥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: $15,416
• − Mortgage interest: −$9,915
• − Property taxes: −$882
• − Insurance: −$885
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$5,149
• Taxable loss: −$3,882
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $205/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

+136.3% since first listed

11 events — show timeline

• 2026-06-02 Listed $177,000 Metro Search MLS
• 2026-04-23 Price Changed $175,000 Metro Search MLS
• 2026-03-31 Price Changed $180,000 Metro Search MLS
• 2024-05-08 Sold (Public Records) $70,000 Public Records
• 2024-05-07 Sold (MLS) $70,000 Metro Search MLS
• 2024-05-07 Sold (MLS) $70,000 HKARMLS
• 2024-04-30 Contingent — Metro Search MLS
• 2024-04-22 Relisted — Metro Search MLS
• 2024-04-17 Contingent — Metro Search MLS
• 2024-04-12 Listed $74,900 Metro Search MLS
• 2024-04-12 Listed $74,900 HKARMLS

Property tax history

+8.8%/yr

Latest (2025): $882 · +36.4% YoY. Source: county tax records.