1789 W Gaulbert Ave · Louisville, KY 40210

$25,000

2 bd · 1.0 ba · 844 sqft · SingleFamily · 94 Days on market

Built 1900 3,125 sqft lot ↓ 33% since listing

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

This home is an investor special. Looking to add to your portfolio? This is it. Home is being sold AS IS.

Key facts

• 3,125 sq ft lot
• Built 1900
• Listed 94 days

Property features AI

Finance

• Other: Subdivision: MARYDALE
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available; One HVAC unit (heating) and one HVAC unit (cooling)
• Home design: Single-family shotgun-style home; One story; Built in 1900
• Construction: Wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Partial fencing; Cleared lot; Lot dimensions approximately 25 x 125

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom, located on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 4 total rooms; 2 closets; Basement: none; First-floor laundry
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $625 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 36.3% 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+, crime F.
• 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.
• Zoned schools: Mcferran Preparatory Academy (math 2% / reading 8%, grade F, #670 of 676 statewide, top 100%, 691 students, 83% FRL); Noe Middle (math 49% / reading 62%, grade B-, #7 of 217 statewide, top 3%, 1,347 students, 46% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL).
• Market conditions: Rents rising fast (+8.1%/yr); 93 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 35% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($173 loan paydown + $2k 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 4.07% ✓
• Cap rate: 36.29%
• Cash-on-cash: 107.12%
• DSCR: 5.77
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $94,528
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1814 W Lee St	0.15mi	3/1.0 (+1)	816 (-3%)	8mo	$112,500	$138	76
1777 Bernheim Ln	0.44mi	2/1.0	841 (-0%)	7mo	$94,050	$112	73
2306 Standard Ave	0.40mi	2/1.0	900 (+7%)	4mo	$38,000	$42	66
2519 Standard Ave	0.56mi	2/1.0	783 (-7%)	1mo	$87,000	$111	61
1739 Dumesnil St	0.65mi	2/1.0	800 (-5%)	9mo	$70,000	$88	53
1634 Dixdale Ave	0.45mi	2/1.0	740 (-12%)	8mo	$117,500	$159	52
1639 Dixdale Ave	0.42mi	3/1.0 (+1)	746 (-12%)	5mo	$128,000	$172	51
2611 Narragansett Dr	0.62mi	2/1.0	754 (-11%)	5mo	$152,900	$203	49
2307 Woodland Ave	0.48mi	1/1.0 (-1)	940 (+11%)	7mo	$17,000	$18	48
2112 Wilson Ave	0.50mi	3/1.0 (+1)	728 (-14%)	2mo	$33,000	$45	47
2504 Standard Ave	0.50mi	2/1.0	963 (+14%)	7mo	$169,000	$175	47
1545 Catalpa St	0.71mi	3/1.5 (+1)	960 (+14%)	9mo	$62,500	$65	30

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: —
• Equity multiple: 9.40×
• Total profit: $58,804
• Equity at exit: $22,522

10-year hold

• IRR: —
• Equity multiple: 23.17×
• Total profit: $155,219
• Equity at exit: $48,570

Cash invested: $7,000 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 93
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,017 high
• Mortgage (P&I): −$131
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $625

Break-even live

Break-even rent $226

Max offer price $25,000

Occupancy floor 34%

Sensitivity live

Price	-10% $639	-5% $632	+0% $625	+5% $618	+10% $611
Rent	-10% $545	-5% $585	+0% $625	+5% $665	+10% $705
Rate	-1.0pp $637	-0.5pp $631	base $625	+0.5pp $618	+1.0pp $612

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	25d	1	0.05mi
1768 W Hill St Louisville, KY	2.0	1.0	675	$925	$1.37	25d	1	0.09mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	16d	1	0.16mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	25d	1	0.24mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	25d	1	0.25mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	5d	1	0.38mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	18d	1	0.41mi
1836 Algonquin Pkwy Unit 1 Louisville, KY	1.0	1.0	650	$650	$1.00	16d	1	0.42mi
1836 Algonquin Pkwy Unit 2 Louisville, KY	1.0	1.0	600	$650	$1.08	25d	1	0.42mi
1816 Gregg Ave Louisville, KY	2.0	2.0	773	$1,100	$1.42	18d	1	0.43mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	25d	1	0.43mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	0d	1	0.43mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	18d	1	0.51mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	25d	1	0.54mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	25d	1	0.62mi
2706 Wyandotte Ave Louisville, KY	2.0	1.0	756	$1,295	$1.71	5d	1	0.68mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	550	$650	$1.18	5d	1	0.68mi
1349 Olive St Unit 3 Louisville, KY	1.0	1.0	600	$695	$1.16	5d	1	0.68mi
1349 Olive St Unit 4 Louisville, KY	1.0	1.0	600	$725	$1.21	25d	1	0.68mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	22d	1	0.75mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	25d	1	0.76mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	25d	1	0.79mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	25d	1	0.85mi
1927 S 28th St Louisville, KY	2.0	1.0	700	$1,200	$1.71	25d	1	0.86mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	25d	1	0.86mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	25d	1	0.87mi
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	18d	1	0.88mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	25d	1	0.89mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	25d	1	0.89mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	23d	1	0.92mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$715	$0.64	0d	1	0.93mi
3005 Linwood Ave Louisville, KY	2.0	1.0	700	$1,025	$1.46	18d	1	0.99mi
1438 Lillian Ave Louisville, KY	2.0	1.0	777	$1,050	$1.35	19d	1	1.00mi
2311 Plantation Dr Louisville, KY	3.0	1.0	988	$1,200	$1.21	18d	1	1.01mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	25d	1	1.01mi
1443 S 32nd St Unit 2 Louisville, KY	1.0	1.0	550	$780	$1.42	0d	1	1.01mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	13d	1	1.02mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	25d	1	1.03mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	18d	1	1.03mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	1.06mi

Listing history 6 events

1. 2026-06-01
   status $25,000 Pending 94 DOM
2. 2026-05-31
   days on market $25,000 Active 94 DOM
3. 2026-04-21
   price $30,000
4. 2026-04-06
   price $35,000
5. 2026-03-20
   price $40,000
6. 2026-02-26
   listed $45,000 Active

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $441 · $37/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 6/10 Major FEMA zone X (unshaded) · 71% 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: $12,199
• − Mortgage interest: −$1,400
• − Property taxes: −$441
• − Insurance: −$125
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$727
• Taxable income: $7,554
• Est. tax owed @ 24.0%: −$1,813
• After-tax cash flow: $5,685/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

-33.3% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $30,000 Metro Search MLS
• 2026-04-06 Price Changed $35,000 Metro Search MLS
• 2026-03-20 Price Changed $40,000 Metro Search MLS
• 2026-02-26 Listed $45,000 Metro Search MLS

Property tax history

+4.0%/yr

Latest (2025): $441 · -1.9% YoY. Source: county tax records.