1642 Beechwood Ave · Louisville, KY 40204

$850,000

None bd · None ba · 3,764 sqft · MultiFamily · 22 Days on market

Built 1900 Fair condition Est $674k · 26% over

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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 +14.8/30.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional 7-plex investment opportunity in the heart of the highly desirable Highlands, featuring a rare strategic advantage. Located directly behind the Mid-City Mall—potentially poised to be the Highlands' most significant, generational redevelopment project. The asset features a proven, strong rental history and is comprised of five 1-bedroom units and two 2-bedroom units. For investors looking to scale immediately, this property is being offered alongside 1646 Beechwood (an 8-plex listed separately), which sits directly next door. Acquiring one or both of these side-by-side properties presents a rare multifamily foothold in an unbeatable, high-demand location. Schedule your priv

Key facts

• High-demand location
• 7 parking spots
• Built 1900

Tags

• 7-PLEX INVESTMENT OPPORTUNITY
• STRONG RENTAL HISTORY
• HIGH-DEMAND LOCATION

Property features AI

Finance

• Other: Located in Bardstown Rd Hgts subdivision; Directions: Bardstown Road to Street, Louisville
• Financial info: No separate meters for units
• HOA & community: No association fee

Exterior

• Parking: 7 parking spaces (not covered)
• Utilities: Electricity connected; Natural gas available; Three furnaces; Owner pays water; tenants pay cable
• Home design: Apartment; Traditional architectural style; Built in 1900
• Construction: Wood frame construction; Asphalt roof; Living/building area recorded as 3,764
• Exterior features: No notable exterior features listed; Lot features: see remarks; Lot dimensions approximately 76 x 137 (0.24 acre equivalent in square feet)

Interior

• Bedrooms: No bedrooms listed
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Traditional-style apartment; Basement present

What this means for you Summary

Snapshot

• This is a multifamily listed at $850k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $240 ($3k/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 $774k (8.9% below list).
• Recommended offer: $774k (8.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+5.8%/yr); 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $7,740/mo this rent would consume 131% of the median local household income ($71k/yr) (locally 761% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k 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 22 days — a 2% lower offer ($837k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $774,000 (8.9% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $673,756
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1040 Everett Ave	0.37mi	5/5.0	3,791 (+1%)	6mo	$565,000	$149	77
1326 Barret Ave	0.49mi	—/—	3,464 (-8%)	7mo	$833,700	$241	58
1333 Castlewood Ave	0.38mi	4/4.0	3,216 (-15%)	23mo	$575,000	$179	39

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 · 5.76% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-100,219
• Equity at exit: $126,738

10-year hold

• IRR: 1.5%
• Equity multiple: 1.12×
• Total profit: $28,839
• Equity at exit: $73,492

Cash invested: $238,000 (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 40204

• Rents YoY: 5.8%
• Active inventory: 99
• Price-to-rent: 65.2×

Monthly cashflow live

• Estimated rent: $7,740 high
• Mortgage (P&I): −$4,457
• Tax est. 1.5%: −$1,062 /mo · $12,750/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,625
• Net cashflow: $240

Break-even live

Break-even rent $7,436

Max offer price $850,000

Occupancy floor 92%

Sensitivity live

Price	-10% $828	-5% $534	+0% $240	+5% $-53	+10% $-347
Rent	-10% $-371	-5% $-65	+0% $240	+5% $546	+10% $852
Rate	-1.0pp $668	-0.5pp $457	base $240	+0.5pp $20	+1.0pp $-204

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$5,435
▸ 2× units	2	1	$2,306
Total (7 units)			$7,740

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1576 Cherokee Rd #6 Louisville, KY	3.0	3.5	2639	$8,000	$3.03	17d	1	1.11mi

Listing history 16 events

1. 2026-06-18
   days on market $850,000 Active 22 DOM
2. 2026-06-17
   days on market $850,000 Active 21 DOM
3. 2026-06-16
   days on market $850,000 Active 20 DOM
4. 2026-06-15
   days on market $850,000 Active 19 DOM
5. 2026-06-13
   days on market $850,000 Active 17 DOM
6. 2026-06-10
   days on market $850,000 Active 14 DOM
7. 2026-06-09
   days on market $850,000 Active 13 DOM
8. 2026-06-08
   days on market $850,000 Active 12 DOM
9. 2026-06-07
   days on market $850,000 Active 11 DOM
10. 2026-06-03
    days on market $850,000 Active 7 DOM
11. 2026-06-02
    days on market $850,000 Active 6 DOM
12. 2026-06-01
    days on market $850,000 Active 5 DOM
13. 2026-05-31
    days on market $850,000 Active 4 DOM
14. 2026-05-27
    listed $850,000 Active
15. 2008-06-23
    historical
16. 2007-09-05
    listed $419,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,880
• − Mortgage interest: −$47,613
• − Property taxes: −$12,750
• − Insurance: −$4,250
• − Repairs & maintenance: −$7,430
• − Management: −$7,430
• − Depreciation: −$24,727
• Taxable loss: −$11,321
• Est. tax savings @ 24.0%: +$2,717
• After-tax cash flow: $5,602/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior repairs and maintenance, including repainting and roof inspection. Painting the exterior and roof will improve its curb appeal and potentially increase its value for both resale and rental.

Repairs flagged

• Major Exterior siding — The siding appears weathered and in need of repainting.
• Major Roof — The roof appears aged and may require inspection for leaks or damage.

Value-add opportunities

• Both Painting the exterior and roof — Painting the exterior and roof will improve the home's curb appeal and potentially increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · The siding appears weathered and in need of repainting.	Major	$15,000–50,000
Roof · The roof appears aged and may require inspection for leaks or damage.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Painting the exterior and roof — Painting the exterior and roof will improve the home's curb appeal and potentially increase its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,034
• Household income: $71,116
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 761.0

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 White (84%)
• Race & ethnicity: White 84% Black 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 3% Serbian 3% Romanian 3%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 95% English-only · Spanish 2% Korean 1% Chinese 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: ▼ -475.25%
• Current HPI: 246.3191
• Rent YoY: ▲ 5.76%
• 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

+102.4% since first listed

3 events — show timeline

• 2026-05-27 Listed $850,000 Metro Search MLS
• 2008-06-23 Listing Removed — Metro Search MLS
• 2007-09-05 Listed $419,900 Metro Search MLS