449 N 26th St · Louisville, KY 40212

$125,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily · 4 Days on market

Built 1997 2,701 sqft lot Est $96k · 31% over

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Why this score? — see what drove the D+ 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 +18.4/30.0
• Appreciation +10.0/10.0
• DSCR +5.8/10.0
• 1% rule +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

This won't last long! Property is being sold as-is. Listing information is not warranted by seller or seller's agents.

Key facts

• 2,701 sq ft lot
• Built 1997
• Listed 4 days

Property features AI

Finance

• Other: Located in the Portland subdivision
• HOA & community: No association fee

Exterior

• Parking: See remarks for parking details
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence, traditional style; 2 stories; Built in 1997
• Construction: Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Corner lot; Sidewalks; Yard is cleared; Chain link fencing

Interior

• Kitchen: Kitchen on the first floor; First-floor dining room
• Bedrooms: Three bedrooms total; One bedroom on the first floor; Two bedrooms on the second floor
• Bathrooms: Two full bathrooms; Full bathroom located on the second floor
• Heating & cooling: Forced air heating; Cooling available
• Interior features: Seven rooms total; Four closets; No basement
• Laundry & utility: Laundry room on the first floor; First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $116 ($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 $113k (9.2% below list).
• Recommended offer: $113k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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 $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 + 0.5% 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $16k; list at $125k implies a 706% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $113,486 (9.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $95,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
427 N 28th St	0.19mi	2/1.0 (-1)	1,166 (+1%)	3mo	$70,000	$60	77
365 N 27th St	0.11mi	2/1.0 (-1)	1,093 (-5%)	6mo	$95,000	$87	72
2419 Montgomery St	0.30mi	3/1.0	1,092 (-5%)	4mo	$92,000	$84	70
2547 Bank St	0.07mi	3/1.0	1,301 (+13%)	4mo	$103,500	$80	68
2619 Bank St	0.09mi	2/1.0 (-1)	1,280 (+11%)	5mo	$105,000	$82	64
2321 W Market St	0.66mi	3/1.0	1,138 (-1%)	1mo	$110,000	$97	62
2618 Cornwall St	0.33mi	2/1.0 (-1)	1,024 (-11%)	7mo	$85,000	$83	52
3007 Duncan St	0.59mi	2/1.0 (-1)	1,220 (+6%)	5mo	$45,000	$37	50
2722 Slevin St	0.31mi	2/1.0 (-1)	984 (-15%)	5mo	$65,000	$66	48
1922 Bank St	0.58mi	2/1.0 (-1)	1,020 (-12%)	3mo	$110,950	$109	42
3304 Bank St	0.61mi	2/1.0 (-1)	1,020 (-12%)	2mo	$131,000	$128	42
212 N 20th St	0.67mi	2/1.0 (-1)	987 (-14%)	7mo	$64,500	$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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 3.08×
• Total profit: $72,636
• Equity at exit: $112,610

10-year hold

• IRR: 22.5%
• Equity multiple: 6.80×
• Total profit: $202,965
• Equity at exit: $242,848

Cash invested: $35,000 (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: 141
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,135 high
• Mortgage (P&I): −$656
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $116

Break-even live

Break-even rent $988

Max offer price $125,000

Occupancy floor 85%

Sensitivity live

Price	-10% $186	-5% $151	+0% $116	+5% $80	+10% $45
Rent	-10% $26	-5% $71	+0% $116	+5% $160	+10% $205
Rate	-1.0pp $179	-0.5pp $147	base $116	+0.5pp $83	+1.0pp $50

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.15mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	4d	1	0.15mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	4d	4	0.22mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	4d	1	0.28mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	4d	1	0.29mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	17d	1	0.37mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	0.40mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	18d	1	0.42mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	18d	1	0.44mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	4d	1	0.46mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.46mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	25d	1	0.47mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	25d	1	0.48mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	17d	1	0.48mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	25d	1	0.54mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	0.56mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	4d	1	0.60mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.60mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.62mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	4d	4	0.62mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	13d	1	0.64mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.73mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	25d	1	0.80mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	21d	1	0.84mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	25d	1	0.85mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	17d	1	0.85mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	25d	1	0.86mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	0.88mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.92mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	25d	1	0.92mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	17d	1	1.01mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	25d	1	1.04mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	18d	1	1.04mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	1.04mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	25d	1	1.05mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	25d	1	1.07mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	22d	1	1.07mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	1.08mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	25d	1	1.10mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	17d	1	1.13mi

Listing history 3 events

1. 2026-06-21
   days on market $125,000 Active 4 DOM
2. 2026-06-17
   remarks 310-char remark
3. 2026-06-17
   listed $125,000 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: $880 · $73/mo
• Projected year-2 tax: $1,075 · $90/mo
• Expected delta: +$195/yr (+$16/mo · 22.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 50% 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: $13,618
• − Mortgage interest: −$7,002
• − Property taxes: −$880
• − Insurance: −$625
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$3,636
• Taxable loss: −$703
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $1,557/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

+471.0% since first listed

5 events — show timeline

• 2026-06-17 Listed $125,000 Metro Search MLS
• 2013-01-24 Listing Removed — Metro Search MLS
• 2012-12-19 Listed $18,500 Metro Search MLS
• 2012-12-12 Sold (MLS) $15,500 Metro Search MLS
• 2012-10-29 Listed $21,890 Metro Search MLS

Property tax history

+21.3%/yr

Latest (2025): $880 · -1.9% YoY. Source: county tax records.