1711 Liberty Bell Way · Louisville, KY 40215

$325,000

8 bd · 4.0 ba · 2,940 sqft · MultiFamily · 702 Days on market

Built 1961 6,403 sqft lot

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Why this score? — see what drove the B- 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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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 MLS

INCREDIBLE OPPORTUNITY for anyone looking to begin investing in multifamily or grow their existing portfolio. This quad-plex has been vacant and boarded up for several months. Based on rent comps in the same neighborhood ($600-$650/unit), an investor could potentially bring in over $31,000 annually in rent revenue. Rare chance to acquire and renovate units at a below-market cost. All of the units are two-bedroom/one-bath, but it needs a significant rehab as well as the replacement of some mechanicals. The property is being sold as-is, no exceptions.

Key facts

• Quadplex
• Rental opportunity
• 6,403 sq ft lot

Tags

• QUADPLEX
• RENTAL OPPORTUNITY
• TENANT PAYS UTILITIES

Property features AI

Finance

• Other: Located on a dead-end street with sidewalks; Lot approximately 0.15 acre (approx. 6,403 sq ft); Building area reported as 2,940; Not in a flood plain; Directions: Berry Blvd to Georgetown Place to Liberty Bell Way
• Financial info: Owner pays: water, sewer, trash removal; Tenants pay: electric, gas, cable
• HOA & community: No association fee

Exterior

• Parking: 6 parking spaces (not covered)
• Utilities: Electricity connected; Natural gas available; Owner pays water and sewer; tenant pays electric, gas, and cable; Trash removal paid by owner
• Home design: Multi-unit building (2 units); Built in 1961
• Construction: Brick construction; Shingle roof; Built in 1961
• Exterior features: Traditional architectural style; No additional exterior features listed

Interior

• Kitchen: Two kitchens on first level; Two kitchens on second level; Ranges and refrigerators in each unit; Dishwashers in each unit
• Bedrooms: 8 total bedrooms (4 on first level, 4 on second level)
• Bathrooms: 4 full bathrooms (2 on first level, 2 on second level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Basement with laundry and storage; Separate meters (multi-unit)
• Laundry & utility: Basement laundry; 4 furnaces

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $342/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 (+5.2%/yr); 121 active listings in the ZIP; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $4,254/mo this rent would consume 117% of the median local household income ($44k/yr) (locally 997% 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 $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $91k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 702 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y ago; this cycle's ask has dropped $85k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $325k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 702 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.31% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.05%
• DSCR: 1.80
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.48×
• Total profit: $43,859
• Equity at exit: $48,459

10-year hold

• IRR: 22.4%
• Equity multiple: 3.09×
• Total profit: $190,570
• Equity at exit: $28,100

Cash invested: $91,000 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 121
• Price-to-rent: 25.5×

Monthly cashflow live

• Estimated rent: $4,254 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$152 /mo · $1,827/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$893
• Net cashflow: $1,369

Break-even live

Break-even rent $2,522

Max offer price $325,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,252
Total (4 units)			$4,254

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-06-18
   days on market $325,000 Active 702 DOM
2. 2026-06-17
   days on market $325,000 Active 701 DOM
3. 2026-06-16
   days on market $325,000 Active 700 DOM
4. 2026-06-15
   days on market $325,000 Active 699 DOM
5. 2026-06-13
   pricedays on market $325,000 Active 697 DOM
6. 2026-06-10
   days on market $330,000 Active 694 DOM
7. 2026-06-09
   days on market $330,000 Active 693 DOM
8. 2026-06-08
   days on market $330,000 Active 692 DOM
9. 2026-06-07
   days on market $330,000 Active 691 DOM
10. 2026-06-03
    days on market $330,000 Active 687 DOM
11. 2026-06-02
    days on market $330,000 Active 686 DOM
12. 2026-06-01
    days on market $330,000 Active 685 DOM
13. 2026-05-31
    days on market $330,000 Active 684 DOM
14. 2026-04-03
    status Active
15. 2026-03-26
    historical Active Under Contract
16. 2026-01-10
    status Active
17. 2025-12-24
    status Pending
18. 2025-10-06
    historical Active Under Contract
19. 2025-09-18
    status Active
20. 2025-08-26
    historical Active Under Contract
21. 2025-07-21
    price $330,000
22. 2025-05-23
    price $345,000
23. 2025-05-07
    status Active
24. 2025-04-24
    historical Active Under Contract
25. 2025-02-03
    price $355,000
26. 2025-01-15
    status Active
27. 2025-01-12
    historical
28. 2025-01-12
    price $365,000
29. 2024-12-03
    price $375,000
30. 2024-08-01
    price $395,000
31. 2024-06-25
    listed $410,000 Active
32. 2024-01-29
    historical
33. 2023-10-14
    listed $375,000 Active
34. 2022-01-20
    soldstatus $145,000
35. 2021-04-08
    soldstatus $97,000
36. 2021-04-05
    soldstatus $97,000 Closed 558-char remark

    Show marketing remark (558 chars)

    INCREDIBLE OPPORTUNITY for anyone looking to begin investing in multifamily or grow their existing portfolio. This quad-plex has been vacant and boarded up for several months. Based on rent comps in the same neighborhood ($600-$650/unit), an investor could potentially bring in over $31,000 annually in rent revenue. Rare chance to acquire and renovate units at a below-market cost. All of the units are two-bedroom/one-bath, but it needs a significant rehab as well as the replacement of some mechanicals. The property is being sold as-is, no exceptions.

37. 2021-03-18
    status Pending 558-char remark

    Show marketing remark (558 chars)

    INCREDIBLE OPPORTUNITY for anyone looking to begin investing in multifamily or grow their existing portfolio. This quad-plex has been vacant and boarded up for several months. Based on rent comps in the same neighborhood ($600-$650/unit), an investor could potentially bring in over $31,000 annually in rent revenue. Rare chance to acquire and renovate units at a below-market cost. All of the units are two-bedroom/one-bath, but it needs a significant rehab as well as the replacement of some mechanicals. The property is being sold as-is, no exceptions.

38. 2021-03-15
    listed $110,000 Active 558-char remark

    Show marketing remark (558 chars)

    INCREDIBLE OPPORTUNITY for anyone looking to begin investing in multifamily or grow their existing portfolio. This quad-plex has been vacant and boarded up for several months. Based on rent comps in the same neighborhood ($600-$650/unit), an investor could potentially bring in over $31,000 annually in rent revenue. Rare chance to acquire and renovate units at a below-market cost. All of the units are two-bedroom/one-bath, but it needs a significant rehab as well as the replacement of some mechanicals. The property is being sold as-is, no exceptions.

39. 2019-10-01
    soldstatus $150,000
40. 2019-09-27
    soldstatus $150,000 Closed
41. 2019-07-13
    status Pending
42. 2019-07-05
    listed $165,000 Active
43. 2010-02-25
    soldstatus $28,000
44. 2009-12-08
    listed $34,900
45. 2007-10-01
    historical
46. 2007-08-01
    listed $132,000
47. 2006-11-29
    soldstatus $150,000
48. 2004-09-02
    soldstatus $106,000

ⓘ 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: $1,827 · $152/mo
• Projected year-2 tax: $2,795 · $233/mo
• Expected delta: +$968/yr (+$81/mo · 53.0%)

ⓘ 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 ≥104°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: $51,048
• − Mortgage interest: −$18,205
• − Property taxes: −$1,827
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,084
• − Management: −$4,084
• − Depreciation: −$9,455
• Taxable income: $11,769
• Est. tax owed @ 24.0%: −$2,824
• After-tax cash flow: $13,599/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): 20,532
• Household income: $43,725
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 997.0

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 0.63)
• Race & ethnicity: White 51% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% 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: ▼ -119.35%
• Current HPI: 227.8248
• Rent YoY: ▲ 5.16%
• 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

+211.3% since first listed

35 events — show timeline

• 2026-04-03 Relisted — Metro Search MLS
• 2026-03-26 Contingent — Metro Search MLS
• 2026-01-10 Relisted — Metro Search MLS
• 2025-12-24 Pending — Metro Search MLS
• 2025-10-06 Contingent — Metro Search MLS
• 2025-09-18 Relisted — Metro Search MLS
• 2025-08-26 Contingent — Metro Search MLS
• 2025-07-21 Price Changed $330,000 Metro Search MLS
• 2025-05-23 Price Changed $345,000 Metro Search MLS
• 2025-05-07 Relisted — Metro Search MLS
• 2025-04-24 Contingent — Metro Search MLS
• 2025-02-03 Price Changed $355,000 Metro Search MLS
• 2025-01-15 Relisted — Metro Search MLS
• 2025-01-12 Listing Removed — Metro Search MLS
• 2025-01-12 Price Changed $365,000 Metro Search MLS
• 2024-12-03 Price Changed $375,000 Metro Search MLS
• 2024-08-01 Price Changed $395,000 Metro Search MLS
• 2024-06-25 Listed $410,000 Metro Search MLS
• 2024-01-29 Listing Removed — Metro Search MLS
• 2023-10-14 Listed $375,000 Metro Search MLS
• 2022-01-20 Sold (Public Records) $145,000 Public Records
• 2021-04-08 Sold (Public Records) $97,000 Public Records
• 2021-04-05 Sold (MLS) $97,000 Metro Search MLS
• 2021-03-18 Pending — Metro Search MLS
• 2021-03-15 Listed $110,000 Metro Search MLS
• 2019-10-01 Sold (Public Records) $150,000 Public Records
• 2019-09-27 Sold (MLS) $150,000 Metro Search MLS
• 2019-07-13 Pending — Metro Search MLS
• 2019-07-05 Listed $165,000 Metro Search MLS
• 2010-02-25 Sold (MLS) $28,000 Metro Search MLS
• 2009-12-08 Listed $34,900 Metro Search MLS
• 2007-10-01 Listing Removed — Metro Search MLS
• 2007-08-01 Listed $132,000 Metro Search MLS
• 2006-11-29 Sold (Public Records) $150,000 Public Records
• 2004-09-02 Sold (Public Records) $106,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,827 · -1.9% YoY. Source: county tax records.