1634 Gallagher St · Louisville, KY 40210

$55,000

2 bd · 1.0 ba · 956 sqft · SingleFamily · 64 Days on market

Built 1926 3,637 sqft lot Est $60k · 9% under

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Why this score? — see what drove the A- 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 +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

A great property for investment or a first time homeowner. This home is ready to be rented. Here is an opportunity to own a piece of real estate at a great value. Features are very large shed for storage. Be the first to make an offer because it certainly will not last.

Key facts

• 3,637 sq ft lot
• Built 1926
• Listed 64 days

Property features AI

Finance

• Other: Subdivision: CALIFORNIA
• HOA & community: No monthly maintenance fees; No association fee

Exterior

• Utilities: Electricity connected; Natural gas service
• Home design: Single-family residence; Shotgun-style architecture; One story; Built in 1926; Flat and shingle roof
• Construction: Aluminum siding; Concrete block foundation
• Exterior features: Chain link fencing; Sidewalk along the lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning unit(s)
• Interior features: Total of 4 rooms; Basement (cellar); First-floor primary bedroom; First-floor laundry
• Laundry & utility: Laundry located on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

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: Wheatley Elementary (math 2% / reading 8%, grade F, #670 of 676 statewide, top 100%, 318 students, 84% FRL); Highland Middle (math 10% / reading 41%, grade F, #181 of 217 statewide, top 84%, 801 students, 59% FRL); Jeffersontown High (math 17% / reading 17%, grade F, #222 of 254 statewide, top 89%, 943 students, 57% FRL).
• 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 26d 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 $6k of equity ($380 loan paydown + $6k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $55k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — 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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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: 1.98% ✓
• Cap rate: 17.50%
• Cash-on-cash: 40.02%
• DSCR: 2.78
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $60,228
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 Prentice St	0.19mi	3/1.0 (+1)	1,009 (+6%)	1mo	$93,999	$93	76
1820 Date St	0.34mi	3/1.0 (+1)	944 (-1%)	9mo	$45,000	$48	70
1637 W Oak St	0.10mi	1/1.0 (-1)	854 (-11%)	7mo	$27,000	$32	67
1320 S 17th St	0.32mi	3/2.0 (+1)	1,003 (+5%)	3mo	$118,000	$118	65
1058 Dixie Hwy	0.23mi	2/1.0	1,048 (+10%)	11mo	$95,000	$91	64
1147 S 15th St	0.25mi	2/1.0	848 (-11%)	9mo	$35,000	$41	62
1708 Garland Ave	0.29mi	3/1.0 (+1)	1,056 (+10%)	10mo	$85,000	$80	55
1712 Saint Louis Ave	0.47mi	2/1.0	1,072 (+12%)	4mo	$45,000	$42	54
2307 Woodland Ave	0.72mi	1/1.0 (-1)	940 (-2%)	7mo	$17,000	$18	53
848 S 23rd St	0.64mi	3/2.0 (+1)	1,029 (+8%)	6mo	$64,750	$63	43
1714 Bolling Ave	0.70mi	3/2.0 (+1)	1,068 (+12%)	4mo	$110,000	$103	35
2502 Garland Ave	0.74mi	2/1.0	1,092 (+14%)	10mo	$49,900	$46	33

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: 58.6%
• Equity multiple: 5.44×
• Total profit: $68,434
• Equity at exit: $49,548

10-year hold

• IRR: 54.1%
• Equity multiple: 13.34×
• Total profit: $190,085
• Equity at exit: $106,853

Cash invested: $15,400 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,091 high
• Mortgage (P&I): −$288
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $514

Break-even live

Break-even rent $441

Max offer price $55,000

Occupancy floor 48%

Sensitivity live

Price	-10% $545	-5% $529	+0% $514	+5% $498	+10% $483
Rent	-10% $427	-5% $471	+0% $514	+5% $557	+10% $600
Rate	-1.0pp $541	-0.5pp $528	base $514	+0.5pp $499	+1.0pp $485

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	25d	1	0.04mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	25d	1	0.11mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	25d	1	0.18mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	25d	1	0.31mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	5d	1	0.50mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	18d	1	0.50mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	25d	1	0.56mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	0.63mi
2513 Date St Unit 2 Louisville, KY	1.0	1.0	700	$745	$1.06	5d	1	0.75mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	19d	1	0.76mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	25d	1	0.79mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	25d	1	0.83mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	25d	1	0.83mi
2310 W Broadway Unit 1 Louisville, KY	1.0	1.0	1100	$975	$0.89	5d	1	0.83mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	25d	1	0.85mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	16d	1	0.86mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	25d	1	0.89mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	25d	1	0.89mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	0.90mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	25d	1	0.91mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	25d	1	0.92mi
21 College Ct Louisville, KY	1.0	1.0	900	$880	$0.98	12d	1	0.95mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	25d	1	0.96mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	5d	1	0.97mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	5d	1	0.97mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	25d	1	0.97mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	5d	1	0.98mi
607 Saint Catherine St Unit 2 Louisville, KY	1.0	1.0	1100	$1,025	$0.93	25d	1	1.00mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	18d	1	1.00mi
1146 S 6th St Unit 2B Louisville, KY	1.0	1.0	700	$1,300	$1.86	25d	1	1.01mi
1200 S 6th St Apt 4 Louisville, KY	3.0	1.0	900	$1,125	$1.25	25d	1	1.01mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	22d	1	1.02mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	25d	1	1.04mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	25d	1	1.04mi
1312 S 6th St Unit 609 FT-1B Louisville, KY	1.0	1.0	525	$825	$1.57	25d	1	1.05mi
1310 S 6th St Unit 1310 S 6th-3 Louisville, KY	1.0	1.0	679	$825	$1.22	5d	1	1.05mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	25d	1	1.07mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	23d	1	1.07mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	1.07mi
508 W Oak St Unit 2 Louisville, KY	2.0	1.0	1000	$1,195	$1.20	25d	1	1.09mi

Listing history 20 events

1. 2026-06-21
   days on market $55,000 Active 64 DOM
2. 2026-06-18
   days on market $55,000 Active 61 DOM
3. 2026-06-17
   days on market $55,000 Active 60 DOM
4. 2026-06-16
   days on market $55,000 Active 59 DOM
5. 2026-06-15
   days on market $55,000 Active 58 DOM
6. 2026-06-13
   days on market $55,000 Active 56 DOM
7. 2026-06-10
   days on market $55,000 Active 53 DOM
8. 2026-06-09
   days on market $55,000 Active 52 DOM
9. 2026-06-08
   days on market $55,000 Active 51 DOM
10. 2026-06-07
    days on market $55,000 Active 50 DOM
11. 2026-06-03
    days on market $55,000 Active 46 DOM
12. 2026-06-02
    days on market $55,000 Active 45 DOM
13. 2026-06-02
    price $55,000 Active 44 DOM
14. 2026-06-01
    days on market $60,000 Active 44 DOM
15. 2026-05-31
    days on market $60,000 Active 43 DOM
16. 2026-02-18
    price $65,000
17. 2026-02-16
    listed $60,000 Active
18. 2020-11-13
    soldstatus $27,500 Closed 278-char remark

    Show marketing remark (278 chars)

    A great property for investment or a first time homeowner. This home is ready to be rented. Here is an opportunity to own a piece of real estate at a great value. Features are very large shed for storage. Be the first to make an offer because it certainly will not last.

19. 2020-10-31
    status Pending 278-char remark

    Show marketing remark (278 chars)

    A great property for investment or a first time homeowner. This home is ready to be rented. Here is an opportunity to own a piece of real estate at a great value. Features are very large shed for storage. Be the first to make an offer because it certainly will not last.

20. 2020-10-25
    listed $29,900 Active 278-char remark

    Show marketing remark (278 chars)

    A great property for investment or a first time homeowner. This home is ready to be rented. Here is an opportunity to own a piece of real estate at a great value. Features are very large shed for storage. Be the first to make an offer because it certainly will not last.

ⓘ 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: $447 · $37/mo
• Projected year-2 tax: $473 · $39/mo
• Expected delta: +$26/yr (+$2/mo · 5.8%)

ⓘ 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: $13,097
• − Mortgage interest: −$3,081
• − Property taxes: −$447
• − Insurance: −$275
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$1,600
• Taxable income: $5,599
• Est. tax owed @ 24.0%: −$1,344
• After-tax cash flow: $4,820/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

+117.4% since first listed

5 events — show timeline

• 2026-02-18 Price Changed $65,000 Metro Search MLS
• 2026-02-16 Listed $60,000 Metro Search MLS
• 2020-11-13 Sold (MLS) $27,500 Metro Search MLS
• 2020-10-31 Pending — Metro Search MLS
• 2020-10-25 Listed $29,900 Metro Search MLS

Property tax history

+5.8%/yr

Latest (2025): $447 · -1.9% YoY. Source: county tax records.