1138 Dixie Hwy · Louisville, KY 40210

$120,000

3 bd · 1.0 ba · 1,108 sqft · SingleFamily · 1 Days on market

Built 1920 4,835 sqft lot Est $103k · 16% 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 +22.2/30.0
• Appreciation +10.0/10.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.1/15.0

Listing remarks MLS

Welcome to this cute little starter home! You can also add this to your portfolio. Home has 3 bedrooms, spacious living room, dining room, kitchen, and is fully fenced with a back yard, a covered porch, unfinished walkout basement, and fenced front yard. There are refinished and stained hardwood floors throughout the living areas/ bedrooms. There can also be parking at the back of the house (access through the alley). Some notable upgrades are newer windows, newer breaker box, newer hot water heater. The basement is clean and has plenty of storage space. The attic can be finished for extra storage or living space. It's rare to find a home in this price point that is not needing a full renovation. Schedule your showing TODAY! Listing agent is related to the seller. Property sold 'as-is'.

Key facts

• New ceiling fans
• Central location
• Updated floors

Tags

• CENTRAL LOCATION
• UPDATED FLOORS
• UPDATED BATHROOM
• NEW CEILING FANS
• NEW ROOF
• HEATING SYSTEM

Property features AI

Finance

• Other: Lot dimensions approximately 30 x 161.5; Lot area about 0.11 acres
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Single-family residence; One-story layout; Built in 1920
• Construction: Vinyl siding; Shingle roof; Crawl space and poured concrete foundation; Approximately 1,108 above-grade finished area with 484 below-grade unfinished
• Exterior features: Chain link fencing; Sidewalk along the lot

Interior

• Kitchen: Kitchen on the first floor; Dining room adjacent to the kitchen on the first floor
• Bedrooms: Three bedrooms on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Six total rooms; Three closets; Unfinished walkout basement
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $195 ($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 $119k (0.6% below list).
• Recommended offer: $119k (0.6% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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); 91 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).

Forward outlook

• In year one you build about $13k of equity ($830 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $65k; list at $120k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $119,335 (0.6% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.99% ✗
• Cap rate: 8.25%
• Cash-on-cash: 6.97%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $103,044
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1712 Saint Louis Ave	0.41mi	2/1.0 (-1)	1,072 (-3%)	4mo	$45,000	$42	67
1601 Prentice St	0.38mi	3/1.0	1,009 (-9%)	1mo	$93,999	$93	66
1532 W Breckinridge St	0.56mi	3/1.0	1,142 (+3%)	3mo	$120,000	$105	66
1705 1/2 Hale Ave	0.14mi	3/2.0	1,257 (+13%)	4mo	$58,000	$46	64
1812 Wilson Ave	0.29mi	3/1.5	1,248 (+13%)	1mo	$135,000	$108	63
1320 S 17th St	0.37mi	3/2.0	1,003 (-10%)	3mo	$118,000	$118	60
2316 Greenwood Ave	0.40mi	2/1.0 (-1)	1,228 (+11%)	3mo	$80,000	$65	56
1714 Bolling Ave	0.67mi	3/2.0	1,068 (-4%)	4mo	$110,000	$103	56
848 S 23rd St	0.51mi	3/2.0	1,029 (-7%)	6mo	$64,750	$63	55
101 Saunders	0.57mi	2/2.0 (-1)	1,148 (+4%)	5mo	$145,000	$126	54
2615 Greenwood Ave	0.59mi	3/1.0	988 (-11%)	3mo	$71,000	$72	52
2108 Bolling Ave	0.70mi	3/1.0	1,011 (-9%)	7mo	$52,000	$51	47

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: 31.3%
• Equity multiple: 3.50×
• Total profit: $84,063
• Equity at exit: $108,106

10-year hold

• IRR: 28.6%
• Equity multiple: 8.54×
• Total profit: $253,333
• Equity at exit: $233,134

Cash invested: $33,600 (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: 91
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,193 high
• Mortgage (P&I): −$629
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $195

Break-even live

Break-even rent $946

Max offer price $120,000

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	10d	1	0.16mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	23d	1	0.17mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	15d	1	0.24mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	0.29mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	23d	1	0.30mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	23d	1	0.32mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	23d	1	0.35mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	23d	1	0.36mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	23d	1	0.36mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	3d	1	0.38mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	23d	1	0.41mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	23d	1	0.53mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	23d	1	0.55mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	23d	1	0.55mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	23d	1	0.55mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	23d	1	0.62mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	23d	1	0.62mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	23d	1	0.66mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	23d	1	0.70mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	23d	1	0.70mi
1155 S 28th St Unit 4 Louisville, KY	4.0	2.0	1010	$1,350	$1.34	23d	1	0.71mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	23d	1	0.71mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.71mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	23d	1	0.72mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.74mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	23d	1	0.75mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	23d	1	0.76mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.78mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	23d	1	0.80mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	0.81mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	23d	1	0.81mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	0.84mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	15d	1	0.86mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	10d	1	0.88mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	16d	1	0.90mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	23d	1	0.91mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	15d	1	0.95mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	23d	1	1.02mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	1.03mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	15d	1	1.05mi

Listing history 2 events

1. 2026-06-18
   remarks 386-char remark
2. 2026-06-18
   listed $120,000 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: $819 · $68/mo
• Projected year-2 tax: $1,032 · $86/mo
• Expected delta: +$213/yr (+$18/mo · 26.0%)

ⓘ 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 (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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,320
• − Mortgage interest: −$6,722
• − Property taxes: −$819
• − Insurance: −$600
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$3,491
• Taxable income: $397
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $2,247/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

+84.6% since first listed

9 events — show timeline

• 2026-06-17 Listed $120,000 Metro Search MLS
• 2023-03-03 Sold (MLS) $65,000 Metro Search MLS
• 2023-03-01 Pending — Metro Search MLS
• 2023-02-23 Contingent — Metro Search MLS
• 2023-02-14 Relisted — Metro Search MLS
• 2023-02-14 Contingent — Metro Search MLS
• 2023-02-10 Relisted — Metro Search MLS
• 2023-02-01 Contingent — Metro Search MLS
• 2023-01-30 Listed $65,000 Metro Search MLS

Property tax history

+9.0%/yr

Latest (2025): $819 · -1.9% YoY. Source: county tax records.