2751 Alford Ave · Louisville, KY 40212

$250,000

16 bd · 16.0 ba · 2,184 sqft · MultiFamily · 72 Days on market

Built 1900 2,040 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
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

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

Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

Key facts

• Turn key quadplex
• Renovations done
• Roof replaced

Tags

• TURN KEY QUADPLEX
• FURNACES IN ALL UNITS
• ROOF REPLACED
• RENOVATIONS DONE

Property features AI

Finance

• Other: Lot dimensions approximately 30 x 68; Located in the Portland neighborhood
• Financial info: Owner pays water and sewer; Tenants pay cable, electric, and gas; Owner pays other items as noted in remarks
• HOA & community: No association fee

Exterior

• Parking: No covered parking
• Utilities: Electricity connected; Natural gas available; 4 furnaces; 4 HVAC units
• Home design: Traditional-style building; 2-story property; Built in 1900
• Construction: Vinyl siding and wood frame construction; Asphalt shingle roof; Built in 1900
• Exterior features: Balcony

Interior

• Kitchen: Each unit includes a kitchen; Each unit includes a range; Each unit includes a refrigerator
• Bedrooms: 4 total bedrooms; Each unit has 2 bedrooms
• Bathrooms: 4 full bathrooms (2 full baths per unit)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Units have separate meters
• Laundry & utility: Each unit has laundry facilities

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive. Per door: $235/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 flat; 140 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 $3,333/mo this rent would consume 112% of the median local household income ($36k/yr) (locally 1148% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 + 0.5% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $35k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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 1900 — 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: 1.33% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.13%
• DSCR: 1.72
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 3.68×
• Total profit: $187,949
• Equity at exit: $225,220

10-year hold

• IRR: 29.3%
• Equity multiple: 8.02×
• Total profit: $491,514
• Equity at exit: $485,695

Cash invested: $70,000 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 25.0×

Monthly cashflow live

• Estimated rent: $3,333 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$277 /mo · $3,326/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $941

Break-even live

Break-even rent $2,142

Max offer price $250,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,332
Total (4 units)			$3,333

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $250,000 Active 72 DOM
2. 2026-06-17
   days on market $250,000 Active 71 DOM
3. 2026-06-16
   days on market $250,000 Active 70 DOM
4. 2026-06-15
   days on market $250,000 Active 69 DOM
5. 2026-06-13
   days on market $250,000 Active 67 DOM
6. 2026-06-10
   days on market $250,000 Active 64 DOM
7. 2026-06-09
   days on market $250,000 Active 63 DOM
8. 2026-06-08
   days on market $250,000 Active 62 DOM
9. 2026-06-07
   days on market $250,000 Active 61 DOM
10. 2026-06-03
    days on market $250,000 Active 57 DOM
11. 2026-06-02
    days on market $250,000 Active 56 DOM
12. 2026-06-01
    days on market $250,000 Active 55 DOM
13. 2026-05-31
    pricedays on market $250,000 Active 54 DOM
14. 2026-05-18
    price $260,000
15. 2026-04-27
    price $270,000
16. 2026-04-22
    price $280,000
17. 2026-04-07
    listed $285,000 Active
18. 2024-12-11
    soldstatus $264,000
19. 2024-12-04
    soldstatus $264,000 Closed 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

20. 2024-10-21
    status Pending 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

21. 2024-10-04
    historical Active Under Contract 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

22. 2024-09-27
    status Active 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

23. 2024-09-18
    historical Active Under Contract 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

24. 2024-09-05
    price $264,000 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

25. 2024-08-29
    price $269,000 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

26. 2024-08-16
    price $275,000 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

27. 2024-08-15
    listed $2,750,000 Active 694-char remark

    Show marketing remark (694 chars)

    Fully remodeled cute 4-Plex. This property consist of four 1-bedroom units that have been renovated top to bottom. This property has been updated inside in out with New siding, New Roof, New, HVAC, New Water Heaters, Updated Laminate flooring throughout. All bathroom have been remolded with new tile surround, tile floor, tubs, toilets and vanities. The kitchens have been upgraded with tiled backsplash, over the range microwaves with oven range, refrigerators, countertops and new light fixtures throughout. All units have laundry hookups. Schedule your showing today. Back on market due to last buyers loan falling through. Agent is related to seller. Agent is licensed in Kentucky.

28. 2022-04-13
    soldstatus $62,000
29. 2022-04-12
    soldstatus $62,000 Closed 80-char remark

    Show marketing remark (80 chars)

    Great Investment Opportunity! Quadplex - each with a Bedroom, Bath, Living Room.

30. 2022-03-23
    historical 80-char remark

    Show marketing remark (80 chars)

    Great Investment Opportunity! Quadplex - each with a Bedroom, Bath, Living Room.

31. 2022-03-22
    listed $62,000 80-char remark

    Show marketing remark (80 chars)

    Great Investment Opportunity! Quadplex - each with a Bedroom, Bath, Living Room.

ⓘ 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: $3,326 · $277/mo
• Projected year-2 tax: $3,326 · $277/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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,996
• − Mortgage interest: −$14,004
• − Property taxes: −$3,326
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,200
• − Management: −$3,200
• − Depreciation: −$7,273
• Taxable income: $7,744
• Est. tax owed @ 24.0%: −$1,858
• After-tax cash flow: $9,430/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

+319.4% since first listed

18 events — show timeline

• 2026-05-18 Price Changed $260,000 Metro Search MLS
• 2026-04-27 Price Changed $270,000 Metro Search MLS
• 2026-04-22 Price Changed $280,000 Metro Search MLS
• 2026-04-07 Listed $285,000 Metro Search MLS
• 2024-12-11 Sold (Public Records) $264,000 Public Records
• 2024-12-04 Sold (MLS) $264,000 Metro Search MLS
• 2024-10-21 Pending — Metro Search MLS
• 2024-10-04 Contingent — Metro Search MLS
• 2024-09-27 Relisted — Metro Search MLS
• 2024-09-18 Contingent — Metro Search MLS
• 2024-09-05 Price Changed $264,000 Metro Search MLS
• 2024-08-29 Price Changed $269,000 Metro Search MLS
• 2024-08-16 Price Changed $275,000 Metro Search MLS
• 2024-08-15 Listed $2,750,000 Metro Search MLS
• 2022-04-13 Sold (Public Records) $62,000 Public Records
• 2022-04-12 Sold (MLS) $62,000 Metro Search MLS
• 2022-03-23 Listing Removed — Metro Search MLS
• 2022-03-22 Listed $62,000 Metro Search MLS

Property tax history

+12.7%/yr

Latest (2025): $3,326 · +317.8% YoY. Source: county tax records.