6618 Daytona Ave · Louisville/Jefferson County metro government (balance), KY 40216

$135,000

2 bd · 1.0 ba · 1,014 sqft · SingleFamily · 16 Days on market

Built 1946 9,975 sqft lot Est $176k · 23% under

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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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +3.4/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

One bedroom, one bath ranch home on a deep lot. Large living room. Eat-in kitchen. Two other rooms could be used as 2nd and 3rd bedrooms (no closets). Deck in fenced front yard. Additional storage in attic. Shed. Room sizes and sqft are approx.

Key facts

• 9,975 sq ft lot
• Parking
• Built 1946

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway parking
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1946; Vinyl siding with wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Partial chain-link fencing; Lot roughly 50 x 200

Interior

• Kitchen: First-floor kitchen
• Bedrooms: Two bedrooms total; One bedroom located on the first floor
• Bathrooms: One full bathroom on the first floor
• Interior features: Five total rooms; Two closets; Basement: none; First-floor living room
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $55 ($659/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 $113k (16.4% below list).
• Recommended offer: $113k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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 flat; 210 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $25k; list at $135k implies a 440% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,802 (16.4% below list)

Questions for the listing agent

1. Built in 1946 — 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. 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?
4. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $176,436
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6613 Kenmore Ave	0.17mi	3/1.0 (+1)	1,007 (-1%)	13mo	$211,000	$210	76
6713 Flagler Ave	0.11mi	2/1.5	1,075 (+6%)	12mo	$90,000	$84	73
6603 Melrose Ave	0.27mi	2/2.0	1,147 (+13%)	5mo	$197,000	$172	58
6609 Kenmore Ave	0.17mi	3/1.0 (+1)	902 (-11%)	13mo	$175,000	$194	58
4401 Wilshire Ave	0.38mi	2/2.0	952 (-6%)	20mo	$165,000	$173	51
4423 Wilshire Ave	0.47mi	3/2.0 (+1)	976 (-4%)	16mo	$170,000	$174	49

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 · 0.57% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.44×
• Total profit: $-21,115
• Equity at exit: $20,129

10-year hold

• IRR: -12.2%
• Equity multiple: 0.35×
• Total profit: $-24,582
• Equity at exit: $11,672

Cash invested: $37,800 (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 40216

• Rents YoY: 0.6%
• Active inventory: 210
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,128 high
• Mortgage (P&I): −$708
• Tax from tax record: −$72 /mo · $865/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $55

Break-even live

Break-even rent $1,059

Max offer price $135,000

Occupancy floor 90%

Sensitivity live

Price	-10% $131	-5% $93	+0% $55	+5% $17	+10% $-22
Rent	-10% $-34	-5% $10	+0% $55	+5% $99	+10% $144
Rate	-1.0pp $123	-0.5pp $89	base $55	+0.5pp $20	+1.0pp $-16

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5010 Kaufman Ln Louisville, KY	2.0	1.0–2.0	1076	$1,402	$1.30	2d	3	0.83mi
3219 Wilkie Rd Louisville, KY	2.0	1.0	725	$1,350	$1.86	11d	1	1.02mi
3204 Melody Acres Ln Unit 3202-3 Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	1.22mi
3107 Melody Acres Ln Unit 4 Louisville, KY	2.0	1.0	750	$825	$1.10	18d	1	1.35mi
4406 Clarene Dr Louisville, KY	3.0	1.0	1053	$1,400	$1.33	17d	1	1.36mi
4911 Saddlebrook Ln Apt 3 Louisville, KY	2.0	1.0	800	$949	$1.19	24d	1	1.37mi
3222 Patricia Dr Louisville, KY	3.0	1.0	936	$1,590	$1.70	2d	1	1.37mi
4904 Saddlebrook Ln Unit 4 Louisville, KY	2.0	1.0	725	$765	$1.06	24d	1	1.41mi
4902 Saddlebrook Ln Unit 3 Louisville, KY	2.0	1.0	800	$899	$1.12	24d	1	1.42mi
6516 Hackel Dr Apt 6 Louisville, KY	2.0	1.0	900	$1,100	$1.22	4d	1	1.43mi
6512 Hackel Dr Unit 2 Louisville, KY	2.0	1.0	825	$850	$1.03	24d	1	1.44mi
6508 Hackel Dr Unit 5 Louisville, KY	2.0	1.0	825	$800	$0.97	21d	1	1.46mi
6424 Hackel Dr Unit 12 Louisville, KY	2.0	1.0	850	$1,100	$1.29	24d	1	1.50mi

Listing history 10 events

1. 2026-06-21
   days on market $135,000 Active 16 DOM
2. 2026-06-18
   days on market $135,000 Active 13 DOM
3. 2026-06-17
   days on market $135,000 Active 12 DOM
4. 2026-06-16
   days on market $135,000 Active 11 DOM
5. 2026-06-15
   days on market $135,000 Active 10 DOM
6. 2026-06-13
   days on market $135,000 Active 8 DOM
7. 2026-06-10
   days on market $135,000 Active 5 DOM
8. 2026-06-09
   days on market $135,000 Active 4 DOM
9. 2026-06-08
   days on market $135,000 Active 3 DOM
10. 2026-06-07
    listed $135,000 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: $865 · $72/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$296/yr (+$25/mo · 34.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,536
• − Mortgage interest: −$7,562
• − Property taxes: −$865
• − Insurance: −$675
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$3,927
• Taxable loss: −$1,658
• Est. tax savings @ 24.0%: +$398
• After-tax cash flow: $1,057/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 44,047
• Household income: $56,441
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1434.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 45% White 43% Hispanic / Latino 6% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 7% French/Haitian/Cajun 1% Arabic 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: ▼ -234.72%
• Current HPI: 269.5447
• Rent YoY: ▲ 0.57%
• 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

+222.2% since first listed

9 events — show timeline

• 2026-06-05 Listed $135,000 Metro Search MLS
• 2020-01-29 Sold (MLS) $25,000 Metro Search MLS
• 2020-01-18 Pending — Metro Search MLS
• 2020-01-15 Contingent — Metro Search MLS
• 2019-09-09 Price Changed $38,900 Metro Search MLS
• 2019-09-09 Price Changed $34,900 Metro Search MLS
• 2019-09-09 Price Changed $29,900 Metro Search MLS
• 2019-09-09 Price Changed $25,000 Metro Search MLS
• 2019-09-06 Listed $41,900 Metro Search MLS

Property tax history

+16.5%/yr

Latest (2025): $865 · -2.1% YoY. Source: county tax records.