1811 S 24th St · Louisville, KY 40210

$119,900

2 bd · 1.0 ba · 795 sqft · SingleFamily · 5 Days on market

Built 1947 6,560 sqft lot Est $119k · at est.

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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 +17.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• DSCR +5.3/10.0
• Rent growth +4.5/5.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Welcome home to this beautifully updated 2-bedroom, 1-bathroom house featuring modern updates and a functional layout. The spacious living areas offer comfort and style, while the basement provides plenty of extra storage space or potential for a workshop, home gym, or additional living area. Step outside to enjoy the large backyard — perfect for entertaining, gardening, pets, or relaxing evenings outdoors. This move-in ready home combines charm, updates, and plenty of outdoor space, making it a must-see!

Key facts

• Extra storage space
• Large backyard
• Updated house

Tags

• UPDATED HOUSE
• SPACIOUS LIVING AREAS
• EXTRA STORAGE SPACE
• LARGE BACKYARD

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas available; One cooling HVAC unit
• Home design: Single-family ranch; One story; Built in 1947
• Construction: Wood frame with aluminum siding; Shingle roof; Concrete block foundation
• Exterior features: Chain link fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; One HVAC unit
• Interior features: Unfinished basement; Total of 5 rooms
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $83 ($996/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 $103k (14.1% below list).
• Recommended offer: $103k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 (+8.1%/yr); 93 active listings in the ZIP; 40 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 $13k of equity ($829 loan paydown + $12k 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 + 8.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 20y 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 $71k; list at $120k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $103,050 (14.1% below list)

Questions for the listing agent

1. Built in 1947 — 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: 0.86% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.97%
• DSCR: 1.13
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $119,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2611 Narragansett Dr	0.14mi	2/1.0	754 (-5%)	5mo	$152,900	$203	81
2811 Narragansett Dr	0.28mi	2/1.0	771 (-3%)	5mo	$115,500	$150	78
2519 Standard Ave	0.54mi	2/1.0	783 (-2%)	1mo	$87,000	$111	71
2601 Dixdale Ave	0.20mi	2/1.0	700 (-12%)	2mo	$106,000	$151	69
1814 W Lee St	0.35mi	3/1.0 (+1)	816 (+3%)	8mo	$112,500	$138	67
2606 Dixdale Ave	0.24mi	2/1.0	700 (-12%)	6mo	$134,900	$193	64
1777 Bernheim Ln	0.49mi	2/1.0	841 (+6%)	7mo	$94,050	$112	62
1936 S 28th St	0.41mi	2/1.0	708 (-11%)	8mo	$94,000	$133	56
1815 Fust Ave	0.61mi	2/1.0	856 (+8%)	5mo	$125,000	$146	55
2306 Standard Ave	0.52mi	2/1.0	900 (+13%)	4mo	$38,000	$42	50
1634 Dixdale Ave	0.68mi	2/1.0	740 (-7%)	8mo	$117,500	$159	50
1639 Dixdale Ave	0.66mi	3/1.0 (+1)	746 (-6%)	5mo	$128,000	$172	50

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 3.26×
• Total profit: $75,990
• Equity at exit: $108,015

10-year hold

• IRR: 25.8%
• Equity multiple: 7.94×
• Total profit: $233,024
• Equity at exit: $232,939

Cash invested: $33,572 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 93
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,030 high
• Mortgage (P&I): −$629
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $83

Break-even live

Break-even rent $925

Max offer price $119,900

Occupancy floor 87%

Sensitivity live

Price	-10% $151	-5% $117	+0% $83	+5% $49	+10% $15
Rent	-10% $2	-5% $42	+0% $83	+5% $124	+10% $164
Rate	-1.0pp $143	-0.5pp $114	base $83	+0.5pp $52	+1.0pp $20

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1816 Gregg Ave Louisville, KY	2.0	2.0	773	$1,100	$1.42	17d	1	0.10mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	17d	1	0.14mi
2706 Wyandotte Ave Louisville, KY	2.0	1.0	756	$1,295	$1.71	4d	1	0.20mi
1836 Algonquin Pkwy Unit 1 Louisville, KY	1.0	1.0	650	$650	$1.00	16d	1	0.24mi
1836 Algonquin Pkwy Unit 2 Louisville, KY	1.0	1.0	600	$650	$1.08	25d	1	0.24mi
1927 S 28th St Louisville, KY	2.0	1.0	700	$1,200	$1.71	25d	1	0.38mi
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	17d	1	0.42mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	16d	1	0.44mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	25d	1	0.47mi
3005 Linwood Ave Louisville, KY	2.0	1.0	700	$1,025	$1.46	17d	1	0.51mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	13d	1	0.54mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	25d	1	0.57mi
2311 Plantation Dr Louisville, KY	3.0	1.0	988	$1,200	$1.21	17d	1	0.65mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	25d	1	0.66mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	4d	1	0.68mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	25d	1	0.68mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	4d	1	0.68mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	25d	1	0.69mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	25d	1	0.70mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	22d	1	0.72mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	21d	1	0.72mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	25d	1	0.73mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	25d	1	0.76mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	25d	1	0.81mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	4d	1	0.83mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	17d	1	0.83mi
1726 Sonne Ave Louisville, KY	2.0	1.0	820	$1,095	$1.34	17d	1	0.83mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	25d	1	0.84mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	17d	1	0.84mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	25d	1	0.87mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	12d	1	0.88mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	25d	1	0.97mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	25d	1	0.97mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	25d	1	1.08mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,124	$1.39	3d	1	1.11mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	25d	1	1.11mi
1438 Lillian Ave Louisville, KY	2.0	1.0	777	$1,050	$1.35	18d	1	1.14mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	1.16mi
4600 South St Unit PARKWAYE1 Louisville, KY	2.0	1.0	700	$749	$1.07	25d	1	1.17mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	25d	1	1.20mi

Listing history 4 events

1. 2026-06-03
   statusdays on market $119,900 Pending 5 DOM
2. 2026-06-02
   days on market $119,900 Active 4 DOM
3. 2026-06-01
   days on market $119,900 Active 3 DOM
4. 2026-05-31
   days on market $119,900 Active 2 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: $628 · $52/mo
• Projected year-2 tax: $1,031 · $86/mo
• Expected delta: +$403/yr (+$34/mo · 64.2%)

ⓘ 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 · 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: $12,366
• − Mortgage interest: −$6,716
• − Property taxes: −$628
• − Insurance: −$600
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$3,488
• Taxable loss: −$1,044
• Est. tax savings @ 24.0%: +$251
• After-tax cash flow: $1,247/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

+200.5% since first listed

16 events — show timeline

• 2026-05-29 Listed $119,900 Metro Search MLS
• 2013-01-19 Listing Removed — Metro Search MLS
• 2012-02-10 Listed $44,900 Metro Search MLS
• 2012-01-20 Listing Removed — Metro Search MLS
• 2011-08-15 Listed $44,900 Metro Search MLS
• 2008-12-04 Listing Removed — Metro Search MLS
• 2008-08-12 Listed $30,000 Metro Search MLS
• 2008-08-12 Listing Removed — Metro Search MLS
• 2008-04-19 Listed $69,900 Metro Search MLS
• 2006-05-26 Sold (Public Records) $71,000 Public Records
• 2006-03-30 Sold (MLS) $25,000 ImagineMLS
• 2006-03-20 Listing Removed — ImagineMLS
• 2006-02-16 Listed $29,900 ImagineMLS
• 2006-02-16 Listed $29,900 Metro Search MLS
• 2006-02-14 Listing Removed — Metro Search MLS
• 2006-01-10 Listed $39,900 Metro Search MLS

Property tax history

+3.7%/yr

Latest (2025): $628 · -1.9% YoY. Source: county tax records.