206 N 26th St · Louisville, KY 40212

$134,260

3 bd · 1.0 ba · 1,099 sqft · SingleFamily · 458 Days on market

Built 1900 3,484 sqft lot ↓ 2% since listing

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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 +17.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Hurry to take advantage of downpayment programs for qualified buyers up to $40,000 or more. Call agent for details. This is an awesome totally rehabbed 1 story with a very unique layout featuring open floor plan living room and kitchen combination, with 3 bedrooms and 1 bath. White cabinetry, and granite countertops along with range, refrigerator, microwave oven, and dishwasher. New roof, hvac, plumbing, vinyl plank flooring and carpeting, and more plus a 2 year home warranty. Off-street parking. REVERT eligible!

Key facts

• Open floor plan
• Hvac
• Unique layout

Tags

• UNIQUE LAYOUT
• OPEN FLOOR PLAN
• WHITE CABINETRY
• GRANITE COUNTERTOPS
• NEW ROOF
• HVAC

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; Open plan, shotgun style; One-story
• Construction: Built in 1900; Vinyl siding; Shingle roof; Above-grade finished area: 1,099
• Exterior features: Partial chain-link fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 3 bedrooms, all on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Five total rooms; Five closets; No basement
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/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 $114k (15.3% below list).
• Recommended offer: $114k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 flat; 141 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $14k of equity ($928 loan paydown + $13k 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 458 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,748 (15.3% below list)

Questions for the listing agent

1. It's been on market 458 days. Have you received any prior offers? Is the seller open to a 15% 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: 0.85% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $75,831
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2321 W Market St	0.33mi	3/1.0	1,138 (+4%)	1mo	$110,000	$97	78
2620 W Madison St	0.59mi	3/1.5	1,080 (-2%)	1mo	$74,000	$69	66
427 N 28th St	0.41mi	2/1.0 (-1)	1,166 (+6%)	3mo	$70,000	$60	63
2419 Montgomery St	0.73mi	3/1.0	1,092 (-1%)	4mo	$92,000	$84	62
2722 Slevin St	0.27mi	2/1.0 (-1)	984 (-10%)	5mo	$65,000	$66	60
117 N 34th St	0.69mi	3/1.0	1,130 (+3%)	4mo	$34,000	$30	60
2338 W Madison St	0.63mi	4/1.0 (+1)	1,136 (+3%)	1mo	$125,000	$110	59
3007 Duncan St	0.40mi	2/1.0 (-1)	1,220 (+11%)	5mo	$45,000	$37	54
363 N 27th St	0.40mi	2/1.0 (-1)	972 (-12%)	6mo	$36,500	$38	52
1814 Rowan St	0.74mi	2/1.0 (-1)	1,038 (-6%)	1mo	$30,200	$29	50
1922 Bank St	0.67mi	2/1.0 (-1)	1,020 (-7%)	3mo	$110,950	$109	49
2831 W Madison St	0.60mi	2/1.0 (-1)	937 (-15%)	1mo	$108,000	$115	42

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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 3.05×
• Total profit: $77,179
• Equity at exit: $120,952

10-year hold

• IRR: 22.2%
• Equity multiple: 6.76×
• Total profit: $216,628
• Equity at exit: $260,838

Cash invested: $37,593 (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: 141
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,137 high
• Mortgage (P&I): −$704
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $108

Break-even live

Break-even rent $1,000

Max offer price $134,260

Occupancy floor 85%

Sensitivity live

Price	-10% $184	-5% $146	+0% $108	+5% $70	+10% $32
Rent	-10% $19	-5% $64	+0% $108	+5% $153	+10% $198
Rate	-1.0pp $176	-0.5pp $143	base $108	+0.5pp $74	+1.0pp $38

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: $33,565
• Closing costs: $4,028
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	0.10mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.16mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.17mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	25d	1	0.24mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	25d	1	0.29mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	17d	1	0.30mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	4d	1	0.30mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	13d	1	0.34mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	25d	1	0.36mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.41mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	18d	1	0.41mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	4d	1	0.42mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	4d	4	0.44mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.45mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	4d	1	0.49mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	25d	1	0.53mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	0.53mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	18d	1	0.53mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.60mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	0.64mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	25d	1	0.65mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	22d	1	0.65mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	4d	1	0.67mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	4d	1	0.68mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	4d	4	0.73mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	25d	1	0.77mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	17d	1	0.77mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	25d	1	0.78mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	17d	1	0.78mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	21d	1	0.78mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	0.79mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.80mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	25d	1	0.80mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	17d	1	0.81mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	0.83mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	25d	1	0.87mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	17d	1	0.88mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	17d	1	0.89mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	25d	1	0.89mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	0.89mi

Listing history 16 events

1. 2026-06-21
   days on market $134,260 Active 458 DOM
2. 2026-06-18
   days on market $134,260 Active 455 DOM
3. 2026-06-17
   days on market $134,260 Active 454 DOM
4. 2026-06-16
   days on market $134,260 Active 453 DOM
5. 2026-06-15
   days on market $134,260 Active 452 DOM
6. 2026-06-13
   days on market $134,260 Active 450 DOM
7. 2026-06-10
   days on market $134,260 Active 447 DOM
8. 2026-06-09
   days on market $134,260 Active 446 DOM
9. 2026-06-08
   days on market $134,260 Active 445 DOM
10. 2026-06-07
    days on market $134,260 Active 444 DOM
11. 2026-06-03
    days on market $134,260 Active 440 DOM
12. 2026-06-02
    days on market $134,260 Active 439 DOM
13. 2026-06-01
    days on market $134,260 Active 438 DOM
14. 2026-05-31
    days on market $134,260 Active 437 DOM
15. 2026-01-08
    price $134,260
16. 2025-03-19
    listed $137,000 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: $362 · $30/mo
• Projected year-2 tax: $1,155 · $96/mo
• Expected delta: +$793/yr (+$66/mo · 219.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,650
• − Mortgage interest: −$7,521
• − Property taxes: −$362
• − Insurance: −$671
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$3,906
• Taxable loss: −$994
• Est. tax savings @ 24.0%: +$239
• After-tax cash flow: $1,540/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

-2.0% since first listed

2 events — show timeline

• 2026-01-08 Price Changed $134,260 Metro Search MLS
• 2025-03-19 Listed $137,000 Metro Search MLS

Property tax history

+1.6%/yr

Latest (2020): $362 · +2.4% YoY. Source: county tax records.