2506 W Jefferson St · Louisville, KY 40212

$49,900

4 bd · 2.0 ba · 1,948 sqft · SingleFamily · 7 Days on market

Built 1900 5,200 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

Listing remarks MLS

Home just converted back to a duplex, had been a boarding house for several years. Low rents but both on Month to Month, so can be raised at any given time. Long term renters. Call for your appointment to view, thanks!

Key facts

• Deep lot
• Rear alley access
• 5,200 sq ft lot

Tags

• REAR ALLEY ACCESS
• FLEXIBLE INVESTMENT POTENTIAL
• DEEP LOT

Property features AI

Finance

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

Exterior

• Utilities: Electricity connected; Natural gas
• Home design: Single-family residence; Traditional style; Two stories; Built in 1900
• Construction: Vinyl siding and wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Partial fencing; Sidewalks; Level lot

Interior

• Kitchen: Kitchen present (second level); Dining area on the first floor
• Bedrooms: Four bedrooms total; Two bedrooms on the first floor; Two bedrooms on the second floor
• Bathrooms: Two full bathrooms
• Heating & cooling: Heating present; Natural gas fuel
• Interior features: Nine total rooms; No basement; First-floor primary bedroom
• Laundry & utility: No first-floor laundry

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$157,788) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 25.9% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• At $1,469/mo this rent would consume 49% 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 $5k of equity ($345 loan paydown + $5k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; 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 $49,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.94% ✓
• Cap rate: 25.87%
• Cash-on-cash: 69.90%
• DSCR: 4.11
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $157,788
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2219 W Madison St	0.34mi	3/2.0 (-1)	1,922 (-1%)	3mo	$22,000	$11	74
2715 W Market St	0.24mi	4/2.0	1,735 (-11%)	8mo	$139,000	$80	64
2513 W Chestnut St	0.31mi	4/2.0	2,108 (+8%)	14mo	$144,000	$68	60
2535 Duncan St	0.41mi	5/2.0 (+1)	2,100 (+8%)	10mo	$170,000	$81	54
2523 Saint Xavier St	0.72mi	4/1.0	1,894 (-3%)	9mo	$30,000	$16	50
2424 Saint Xavier St	0.68mi	4/2.5	1,921 (-1%)	19mo	$190,650	$99	49
1825 W Muhammad Ali Blvd	0.61mi	3/2.5 (-1)	1,817 (-7%)	6mo	$195,000	$107	48
2711 W Chestnut St	0.36mi	4/1.5	1,737 (-11%)	20mo	$148,000	$85	46
1944 W Chestnut St	0.57mi	4/2.5	2,100 (+8%)	16mo	$190,000	$90	45
2010 St Xavier St	0.72mi	4/1.5	1,780 (-9%)	11mo	$75,000	$42	41
1924 Rowan St	0.58mi	3/2.0 (-1)	1,844 (-5%)	22mo	$119,900	$65	40
1828 W Chestnut St	0.68mi	3/2.0 (-1)	1,722 (-12%)	22mo	$155,990	$91	25

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: 73.7%
• Equity multiple: 6.10×
• Total profit: $71,255
• Equity at exit: $44,954

10-year hold

• IRR: 66.6%
• Equity multiple: 12.88×
• Total profit: $165,956
• Equity at exit: $96,945

Cash invested: $13,972 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$262
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$21
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $747

Break-even live

Break-even rent $522

Max offer price $49,900

Occupancy floor 44%

Sensitivity live

Price	-10% $776	-5% $762	+0% $747	+5% $733	+10% $719
Rent	-10% $631	-5% $689	+0% $747	+5% $805	+10% $863
Rate	-1.0pp $773	-0.5pp $760	base $747	+0.5pp $734	+1.0pp $721

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	24d	1	0.16mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	24d	1	0.16mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	0.20mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	16d	1	0.24mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	24d	1	0.30mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	24d	1	0.51mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	11d	1	0.77mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	0.84mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	17d	1	0.91mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	24d	1	1.05mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	3d	1	1.06mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	1.16mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	1.19mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	1.21mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	16d	1	1.25mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	4d	1	1.31mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	4d	1	1.32mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	16d	1	1.36mi
980 W Liberty St Louisville, KY	1.0–3.0	1.0–1.5	1026	$1,535	$1.50	24d	133	1.41mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	24d	1	1.42mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	22d	1	1.42mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	1.43mi
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	16d	1	1.47mi

Listing history 7 events

1. 2026-06-18
   days on market $49,900 Active 7 DOM
2. 2026-06-17
   price $49,900 Active 6 DOM
3. 2026-06-17
   days on market $54,900 Active 6 DOM
4. 2026-06-16
   days on market $54,900 Active 5 DOM
5. 2026-06-15
   days on market $54,900 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $54,900 Active 2 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: $765 · $64/mo
• Projected year-2 tax: $765 · $64/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 7/10 Severe FEMA zone X (shaded) · 99% 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: $17,622
• − Mortgage interest: −$2,795
• − Property taxes: −$765
• − Insurance: −$1,047
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$1,452
• Taxable income: $8,744
• Est. tax owed @ 24.0%: −$2,098
• After-tax cash flow: $6,871/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

+83.0% since first listed

12 events — show timeline

• 2026-06-11 Listed $54,900 Metro Search MLS
• 2016-08-19 Sold (MLS) $36,000 Metro Search MLS
• 2016-08-08 Pending — Metro Search MLS
• 2016-06-25 Listed $36,000 Metro Search MLS
• 2015-07-06 Sold (MLS) $31,000 Metro Search MLS
• 2015-06-10 Pending — Metro Search MLS
• 2015-06-08 Listed $33,000 Metro Search MLS
• 2011-03-18 Sold (MLS) $5,250 Metro Search MLS
• 2011-02-03 Listed $6,500 Metro Search MLS
• 2007-05-29 Sold (Public Records) $60,000 Public Records
• 2003-11-19 Sold (MLS) $16,000 Metro Search MLS
• 2003-10-24 Listed $30,000 Metro Search MLS

Property tax history

+6.8%/yr

Latest (2025): $765 · -1.9% YoY. Source: county tax records.