2150 W Lee St · Louisville, KY 40210

$124,900

2 bd · 1.0 ba · 858 sqft · SingleFamily · 16 Days on market

Built 1930 4,456 sqft lot Est $118k · 5% over

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Why this score? — see what drove the C- 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 +15.2/30.0
• Appreciation +10.0/10.0
• ARV discount +5.0/15.0
• DSCR +4.7/10.0
• Rent growth +4.5/5.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

This home is "absolutely" adorable, cozy, and an awesome opportunity for someone(s) wishing to establish a new beginning in home ownership! The floorpan is nice, open, fresh! Many updates live here, which include roof, flooring, HVAC, and fresh paint. The kitchen remodeled is equipped with appliances. Both porches, front and back are fully covered for year round enjoyment! Parking in the rear is a huge plus! The sellers truly want buyer(s) to have an extraordinary jump start to successful home ownership. Stop the car, make your appointment and make an offer!

Key facts

• Roof
• Hvac
• Fresh paint

Tags

• ROOF
• FLOORING
• HVAC
• FRESH PAINT
• KITCHEN REMODELED
• FULLY COVERED PORCHES

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Rear entry parking
• Utilities: Electricity connected
• Home design: Single family residence; One story; Built in 1930
• Construction: Wood frame with stone veneer exterior; Shingle roof; Crawl space foundation
• Exterior features: Chain link fence; Sidewalk; Corner lot

Interior

• Kitchen: Eat-in kitchen on the first floor
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Interior features: Three closets; Cellar basement
• Laundry & utility: Laundry room on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $44 ($530/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 $102k (18.2% below list).
• Recommended offer: $102k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 (+8.1%/yr); 91 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $13k of equity ($864 loan paydown + $12k 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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 $42k; list at $125k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $102,161 (18.2% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $118,404
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2306 Standard Ave	0.32mi	2/1.0	900 (+5%)	4mo	$38,000	$42	73
1814 W Lee St	0.22mi	3/1.0 (+1)	816 (-5%)	8mo	$112,500	$138	70
2130 W Gaulbert Ave	0.08mi	2/1.0	982 (+14%)	3mo	$60,000	$61	70
1777 Bernheim Ln	0.51mi	2/1.0	841 (-2%)	7mo	$94,050	$112	67
2519 Standard Ave	0.39mi	2/1.0	783 (-9%)	1mo	$87,000	$111	66
2611 Narragansett Dr	0.30mi	2/1.0	754 (-12%)	4mo	$152,900	$203	62
2811 Narragansett Dr	0.42mi	2/1.0	771 (-10%)	5mo	$115,500	$150	60
2504 Standard Ave	0.35mi	2/1.0	963 (+12%)	7mo	$169,000	$175	58
2307 Woodland Ave	0.44mi	1/1.0 (-1)	940 (+10%)	7mo	$17,000	$18	53
1545 Catalpa St	0.39mi	3/1.5 (+1)	960 (+12%)	9mo	$62,500	$65	48
1634 Dixdale Ave	0.65mi	2/1.0	740 (-14%)	8mo	$117,500	$159	40
1639 Dixdale Ave	0.62mi	3/1.0 (+1)	746 (-13%)	5mo	$128,000	$172	40

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: 27.0%
• Equity multiple: 3.18×
• Total profit: $76,187
• Equity at exit: $112,520

10-year hold

• IRR: 24.9%
• Equity multiple: 7.73×
• Total profit: $235,432
• Equity at exit: $242,653

Cash invested: $34,972 (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: 91
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$655
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $44

Break-even live

Break-even rent $966

Max offer price $124,900

Occupancy floor 91%

Sensitivity live

Price	-10% $115	-5% $79	+0% $44	+5% $9	+10% $-27
Rent	-10% $-37	-5% $4	+0% $44	+5% $84	+10% $125
Rate	-1.0pp $107	-0.5pp $76	base $44	+0.5pp $12	+1.0pp $-21

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	0.11mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	15d	1	0.23mi
1816 Gregg Ave Louisville, KY	2.0	2.0	773	$1,100	$1.42	16d	1	0.25mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	24d	1	0.34mi
1836 Algonquin Pkwy Unit 2 Louisville, KY	1.0	1.0	600	$650	$1.08	24d	1	0.35mi
1836 Algonquin Pkwy Unit 1 Louisville, KY	1.0	1.0	650	$650	$1.00	15d	1	0.35mi
2706 Wyandotte Ave Louisville, KY	2.0	1.0	756	$1,295	$1.71	4d	1	0.39mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	24d	1	0.42mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	4d	1	0.49mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	24d	1	0.49mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	4d	1	0.49mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	24d	1	0.53mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	21d	1	0.56mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	24d	1	0.57mi
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	16d	1	0.57mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	24d	1	0.58mi
1927 S 28th St Louisville, KY	2.0	1.0	700	$1,200	$1.71	24d	1	0.59mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	24d	1	0.59mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	16d	1	0.61mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	4d	1	0.62mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	22d	1	0.64mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	24d	1	0.66mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	24d	1	0.67mi
3005 Linwood Ave Louisville, KY	2.0	1.0	700	$1,025	$1.46	16d	1	0.70mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	24d	1	0.71mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	12d	1	0.71mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	0.73mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	24d	1	0.77mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	0.77mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	24d	1	0.79mi
2311 Plantation Dr Louisville, KY	3.0	1.0	988	$1,200	$1.21	16d	1	0.87mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	0.88mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	0.96mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	24d	1	0.97mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	24d	1	1.00mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	16d	1	1.01mi
1726 Sonne Ave Louisville, KY	2.0	1.0	820	$1,095	$1.34	16d	1	1.03mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	1.04mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	24d	1	1.06mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	1.07mi

Listing history 11 events

1. 2026-06-18
   days on market $124,900 Active 16 DOM
2. 2026-06-17
   days on market $124,900 Active 15 DOM
3. 2026-06-16
   days on market $124,900 Active 14 DOM
4. 2026-06-15
   days on market $124,900 Active 13 DOM
5. 2026-06-13
   days on market $124,900 Active 11 DOM
6. 2026-06-10
   days on market $124,900 Active 8 DOM
7. 2026-06-09
   days on market $124,900 Active 7 DOM
8. 2026-06-08
   days on market $124,900 Active 6 DOM
9. 2026-06-07
   days on market $124,900 Active 5 DOM
10. 2026-06-02
    remarks 567-char remark
11. 2026-06-02
    listed $124,900 Active 1 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: $671 · $56/mo
• Projected year-2 tax: $1,074 · $90/mo
• Expected delta: +$403/yr (+$34/mo · 60.1%)

ⓘ 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 (unshaded) · 22% 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: $12,259
• − Mortgage interest: −$6,996
• − Property taxes: −$671
• − Insurance: −$624
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$3,633
• Taxable loss: −$1,627
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $920/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

+149.8% since first listed

14 events — show timeline

• 2026-06-02 Listed $124,900 Metro Search MLS
• 2026-04-03 Price Changed $139,999 Metro Search MLS
• 2026-03-02 Price Changed $159,900 Metro Search MLS
• 2025-12-22 Sold (Public Records) $42,500 Public Records
• 2012-12-21 Listing Removed — Metro Search MLS
• 2012-10-03 Listed $19,900 Metro Search MLS
• 2006-06-30 Listing Removed — Metro Search MLS
• 2006-01-02 Listed $59,950 Metro Search MLS
• 2004-12-31 Listing Removed — Metro Search MLS
• 2004-02-19 Listed $47,900 Metro Search MLS
• 2003-12-08 Listing Removed — Metro Search MLS
• 2003-07-15 Listed $55,000 Metro Search MLS
• 2001-08-30 Listing Removed — Metro Search MLS
• 2001-01-31 Listed $50,000 Metro Search MLS

Property tax history

+12.7%/yr

Latest (2025): $671 · -1.9% YoY. Source: county tax records.