4501 S 6th St #71 · Louisville, KY 40214

$64,500

1 bd · 1.0 ba · 538 sqft · Condo · 38 Days on market

Built 1981 $290/mo HOA · 33% of rent

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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 +10.9/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME HOME to this lovely 1 bedroom, 1 bathroom 2nd floor condo that has been nicely renovated throughout! The Kitchen features lovely painted cabinets with a tiled backsplash, new laminate ''wood look'' flooring and a refrigerator and smooth top stove are included! Brand new carpeting and fresh paint throughout! The bathroom has been beautifully remodeled with a new vanity, mirror, lighting and new LVP! Why rent when you can make this your own and build your own equity? Keys at closing so you may take immediate possession! Located close to shopping, dining, schools, interstates and more! Call today for your private tour!

Key facts

• Open floor plan
• Tiled backsplash
• En-suite bathroom

Tags

• OPEN FLOOR PLAN
• TILED BACKSPLASH
• BUTCHER BLOCK COUNTERTOPS
• NEW STAINLESS APPLIANCES
• EN-SUITE BATHROOM
• BEAUTIFULLY REMODELED

Property features AI

Finance

• Other: Building has 2 floors and contains 77 condo units; Laundry located in unit and in-unit laundry confirmed; Pets allowed per restrictions; Rentals allowed
• HOA & community: Condo association with monthly maintenance (reported); Maintenance covers exterior maintenance, groundskeeping, internet, security, sewer, snow removal, trash, and water; Monthly maintenance listed (association reports an amount)

Exterior

• Parking: Surface parking available (building reports 0 dedicated surface spaces for this unit)
• Security: Building security included in association maintenance
• Utilities: Electricity connected; Natural gas available
• Home design: Condominium; Residential property; Located on the 2nd floor of the building; 1 story within the unit; Other architectural style; Unit finished in 1981
• Construction: Built in 1981; Shingle roof; Poured concrete foundation
• Exterior features: Balcony; Level lot

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: 1 bedroom (first floor)
• Bathrooms: 1 full bathroom (first floor)
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning unit
• Interior features: Total of 5 rooms; No basement; Living room on the first floor; Kitchen on the first floor
• Laundry & utility: In-unit laundry on the first floor

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $64k.

Deal economics

• At list price, monthly cash flow is $-29 ($-344/yr) — negative.
• To cash-flow at today's rent, offer at most $59k (7.9% below list).
• Meets the 1% rule at list price ($879 rent vs $64k).
• Recommended offer: $59k (7.9% below list) — sets the bar for cash-flow.

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 (+1.9%/yr); 247 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $446 of loan paydown is wiped out by about $2k 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 38 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• 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 $59,434 (7.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.36% ✓
• Cap rate: 5.76%
• Cash-on-cash: -1.91%
• DSCR: 0.92
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.28×
• Total profit: $-13,065
• Equity at exit: $9,617

10-year hold

• IRR: -18.6%
• Equity multiple: 0.07×
• Total profit: $-16,878
• Equity at exit: $5,577

Cash invested: $18,060 (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 40214

• Rents YoY: 1.9%
• Active inventory: 247
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $879 high
• Mortgage (P&I): −$338
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$27
• HOA: −$290
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-29

Break-even live

Break-even rent $915

Max offer price $59,434

Occupancy floor 98%

Sensitivity live

Price	-10% $8	-5% $-10	+0% $-29	+5% $-47	+10% $-65
Rent	-10% $-98	-5% $-63	+0% $-29	+5% $6	+10% $41
Rate	-1.0pp $4	-0.5pp $-12	base $-29	+0.5pp $-45	+1.0pp $-62

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4501 S 6th St #82 Louisville, KY	1.0	1.0	538	$775	$1.44	18d	1	0.02mi
554 Camden Ave Louisville, KY	1.0	1.0	661	$875	$1.32	24d	1	0.28mi
309 W Whitney Ave Louisville, KY	1.0	1.0	700	$875	$1.25	24d	1	0.40mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$825	$1.02	15d	3	0.42mi
4619 Southern Pkwy Unit 3 Louisville, KY	1.0	1.0	700	$975	$1.39	3d	1	0.44mi
4012 Southern Pkwy Unit 5 Louisville, KY	1.0	1.0	600	$795	$1.32	24d	1	0.49mi
4012 Southern Pkwy Unit 8 Louisville, KY	1.0	1.0	600	$795	$1.32	15d	1	0.50mi
4704 Southern Pkwy Unit A1 Louisville, KY	1.0	1.0	750	$775	$1.03	18d	1	0.54mi
1022 Stanley Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	22d	1	0.58mi
4228 Allmond Ave Unit 2 Louisville, KY	1.0	1.0	650	$700	$1.08	4d	1	0.60mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	17d	1	0.62mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	17d	1	0.63mi
1111 Dresden Ave Louisville, KY	2.0	1.0	680	$1,100	$1.62	17d	1	0.83mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$899	$1.12	2d	9	1.10mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$899	$1.12	24d	1	1.10mi
4122 Craig Ave Louisville, KY	2.0	1.0	705	$1,051	$1.49	12d	1	1.24mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	18d	1	1.31mi
2805 S 4th St #1 Louisville, KY	1.0	1.0	750	$725	$0.97	22d	1	1.38mi
1709 Valley Forge Way Unit 2 Louisville, KY	2.0	1.0	750	$895	$1.19	22d	1	1.46mi

HOA detail condo

• Monthly dues: $290 · $3,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $64,500 Active 38 DOM
2. 2026-06-18
   days on market $64,500 Active 35 DOM
3. 2026-06-17
   days on market $64,500 Active 34 DOM
4. 2026-06-16
   days on market $64,500 Active 33 DOM
5. 2026-06-15
   days on market $64,500 Active 32 DOM
6. 2026-06-13
   days on market $64,500 Active 30 DOM
7. 2026-06-10
   days on market $64,500 Active 27 DOM
8. 2026-06-09
   days on market $64,500 Active 26 DOM
9. 2026-06-08
   days on market $64,500 Active 25 DOM
10. 2026-06-07
    days on market $64,500 Active 24 DOM
11. 2026-06-03
    days on market $64,500 Active 20 DOM
12. 2026-06-02
    days on market $64,500 Active 19 DOM
13. 2026-06-01
    days on market $64,500 Active 18 DOM
14. 2026-05-31
    days on market $64,500 Active 17 DOM
15. 2026-05-14
    listed $64,500 Active
16. 2024-09-06
    soldstatus $64,400
17. 2024-08-09
    soldstatus $64,400 Closed 632-char remark

    Show marketing remark (632 chars)

    WELCOME HOME to this lovely 1 bedroom, 1 bathroom 2nd floor condo that has been nicely renovated throughout! The Kitchen features lovely painted cabinets with a tiled backsplash, new laminate ''wood look'' flooring and a refrigerator and smooth top stove are included! Brand new carpeting and fresh paint throughout! The bathroom has been beautifully remodeled with a new vanity, mirror, lighting and new LVP! Why rent when you can make this your own and build your own equity? Keys at closing so you may take immediate possession! Located close to shopping, dining, schools, interstates and more! Call today for your private tour!

18. 2024-07-05
    status Pending 632-char remark

    Show marketing remark (632 chars)

    WELCOME HOME to this lovely 1 bedroom, 1 bathroom 2nd floor condo that has been nicely renovated throughout! The Kitchen features lovely painted cabinets with a tiled backsplash, new laminate ''wood look'' flooring and a refrigerator and smooth top stove are included! Brand new carpeting and fresh paint throughout! The bathroom has been beautifully remodeled with a new vanity, mirror, lighting and new LVP! Why rent when you can make this your own and build your own equity? Keys at closing so you may take immediate possession! Located close to shopping, dining, schools, interstates and more! Call today for your private tour!

19. 2024-07-01
    price $59,900 632-char remark

    Show marketing remark (632 chars)

    WELCOME HOME to this lovely 1 bedroom, 1 bathroom 2nd floor condo that has been nicely renovated throughout! The Kitchen features lovely painted cabinets with a tiled backsplash, new laminate ''wood look'' flooring and a refrigerator and smooth top stove are included! Brand new carpeting and fresh paint throughout! The bathroom has been beautifully remodeled with a new vanity, mirror, lighting and new LVP! Why rent when you can make this your own and build your own equity? Keys at closing so you may take immediate possession! Located close to shopping, dining, schools, interstates and more! Call today for your private tour!

20. 2024-06-06
    listed $65,000 Active 632-char remark

    Show marketing remark (632 chars)

    WELCOME HOME to this lovely 1 bedroom, 1 bathroom 2nd floor condo that has been nicely renovated throughout! The Kitchen features lovely painted cabinets with a tiled backsplash, new laminate ''wood look'' flooring and a refrigerator and smooth top stove are included! Brand new carpeting and fresh paint throughout! The bathroom has been beautifully remodeled with a new vanity, mirror, lighting and new LVP! Why rent when you can make this your own and build your own equity? Keys at closing so you may take immediate possession! Located close to shopping, dining, schools, interstates and more! Call today for your private tour!

21. 2023-07-19
    soldstatus $38,000
22. 2023-07-13
    soldstatus $38,000 Closed 227-char remark

    Show marketing remark (227 chars)

    This second floor condo is a 1 bedroom 1 bath with kitchen, living room and dining area. Condo is in need of work! Subject to court approval with 60-90 day closing. The property will be sold in ''as-is'' ''where-is'' condition.

23. 2023-05-17
    status Pending 227-char remark

    Show marketing remark (227 chars)

    This second floor condo is a 1 bedroom 1 bath with kitchen, living room and dining area. Condo is in need of work! Subject to court approval with 60-90 day closing. The property will be sold in ''as-is'' ''where-is'' condition.

24. 2023-04-24
    historical Active Under Contract 227-char remark

    Show marketing remark (227 chars)

    This second floor condo is a 1 bedroom 1 bath with kitchen, living room and dining area. Condo is in need of work! Subject to court approval with 60-90 day closing. The property will be sold in ''as-is'' ''where-is'' condition.

25. 2023-04-13
    listed $45,000 Active 227-char remark

    Show marketing remark (227 chars)

    This second floor condo is a 1 bedroom 1 bath with kitchen, living room and dining area. Condo is in need of work! Subject to court approval with 60-90 day closing. The property will be sold in ''as-is'' ''where-is'' condition.

ⓘ 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: $811 · $68/mo
• Projected year-2 tax: $811 · $68/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2% 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: $10,543
• − Mortgage interest: −$3,613
• − Property taxes: −$811
• − Insurance: −$322
• − Repairs & maintenance: −$843
• − Management: −$843
• − HOA: −$3,480
• − Depreciation: −$1,876
• Taxable loss: −$1,247
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $-45/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): 45,405
• Household income: $54,931
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 2054.0

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 0.67)
• Race & ethnicity: White 51% Black 22% Hispanic / Latino 14% Two or more races 12% Asian 7%
• Hispanic origin (detail): Mexican 3% Cuban 6%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 21% · Canada, Vietnam, Philippines
• Languages at home: 74% English-only · Spanish 12% Vietnamese 3% Other Asian/Pacific 2%

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: ▼ -235.43%
• Current HPI: 237.4062
• Rent YoY: ▲ 1.89%
• 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

+43.3% since first listed

11 events — show timeline

• 2026-05-14 Listed $64,500 Metro Search MLS
• 2024-09-06 Sold (Public Records) $64,400 Public Records
• 2024-08-09 Sold (MLS) $64,400 Metro Search MLS
• 2024-07-05 Pending — Metro Search MLS
• 2024-07-01 Price Changed $59,900 Metro Search MLS
• 2024-06-06 Listed $65,000 Metro Search MLS
• 2023-07-19 Sold (Public Records) $38,000 Public Records
• 2023-07-13 Sold (MLS) $38,000 Metro Search MLS
• 2023-05-17 Pending — Metro Search MLS
• 2023-04-24 Contingent — Metro Search MLS
• 2023-04-13 Listed $45,000 Metro Search MLS

Property tax history

+6.7%/yr

Latest (2025): $811 · +66.3% YoY. Source: county tax records.