111 N 26th St · Louisville, KY 40212

$55,000

3 bd · 1.0 ba · 1,104 sqft · SingleFamily · 66 Days on market

Built 1997 1,978 sqft lot Est $73k · 25% under

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

Listing remarks MLS

Newer construction with 3-bedrooms and one full-bathroom. Large, vaulted great room, open kitchen and layout. Great opportunity for investors--recently rented for $600/month. This will be a short sale transaction and requires third-party approval on all offers.

Key facts

• 1,978 sq ft lot
• Built 1997
• Listed 65 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; One story; Built in 1997; Architectural style: Other
• Construction: Vinyl siding exterior; Shingle roof; Crawl space foundation
• Exterior features: No fencing; Lot approximately 0.05 acres

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Three bedrooms, all on the first floor
• Bathrooms: One full bathroom (on the first floor); No half bathrooms
• Heating & cooling: Forced air heating with natural gas; Central air conditioning
• Interior features: Four total rooms (seven total rooms listed including specialized rooms); No basement; Five closets; No fireplaces
• Laundry & utility: Laundry room on the first floor

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$72,864) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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; 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 $6k of equity ($380 loan paydown + $6k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 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 $17k; list at $55k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.08% ✓
• Cap rate: 17.81%
• Cash-on-cash: 41.13%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $72,864
• 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	0.26mi	3/1.0	1,138 (+3%)	1mo	$110,000	$97	82
2620 W Madison St	0.51mi	3/1.5	1,080 (-2%)	1mo	$74,000	$69	70
365 N 27th St	0.49mi	2/1.0 (-1)	1,093 (-1%)	6mo	$95,000	$87	66
2338 W Madison St	0.54mi	4/1.0 (+1)	1,136 (+3%)	1mo	$125,000	$110	64
427 N 28th St	0.49mi	2/1.0 (-1)	1,166 (+6%)	3mo	$70,000	$60	60
117 N 34th St	0.72mi	3/1.0	1,130 (+2%)	4mo	$34,000	$30	60
2722 Slevin St	0.36mi	2/1.0 (-1)	984 (-11%)	5mo	$65,000	$66	56
3007 Duncan St	0.45mi	2/1.0 (-1)	1,220 (+10%)	5mo	$45,000	$37	53
1814 Rowan St	0.71mi	2/1.0 (-1)	1,038 (-6%)	1mo	$30,200	$29	51
363 N 27th St	0.48mi	2/1.0 (-1)	972 (-12%)	6mo	$36,500	$38	48
1922 Bank St	0.68mi	2/1.0 (-1)	1,020 (-8%)	3mo	$110,950	$109	48
2511 Bank St	0.58mi	2/1.0 (-1)	960 (-13%)	6mo	$10,000	$10	41

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: 54.4%
• Equity multiple: 4.95×
• Total profit: $60,784
• Equity at exit: $49,548

10-year hold

• IRR: 47.0%
• Equity multiple: 10.58×
• Total profit: $147,467
• Equity at exit: $106,853

Cash invested: $15,400 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,146 high
• Mortgage (P&I): −$288
• Tax from tax record: −$67 /mo · $798/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $528

Break-even live

Break-even rent $478

Max offer price $55,000

Occupancy floor 49%

Sensitivity live

Price	-10% $559	-5% $543	+0% $528	+5% $512	+10% $497
Rent	-10% $437	-5% $483	+0% $528	+5% $573	+10% $618
Rate	-1.0pp $555	-0.5pp $542	base $528	+0.5pp $514	+1.0pp $499

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: $13,750
• Closing costs: $1,650
• 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	0.02mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.08mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.14mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	25d	1	0.21mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	25d	1	0.24mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	17d	1	0.29mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	25d	1	0.31mi
2433 Slevin St Unit 2433-2 Louisville, KY	3.0	1.0	800	$875	$1.09	4d	1	0.32mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.37mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	4d	4	0.38mi
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	18d	1	0.39mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	13d	1	0.41mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.47mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	0.48mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	25d	1	0.48mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	18d	1	0.48mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	4d	1	0.51mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	4d	1	0.52mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.54mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	0.56mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	25d	1	0.56mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	22d	1	0.56mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	4d	1	0.63mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	17d	1	0.70mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	0.72mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	25d	1	0.72mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	21d	1	0.72mi
522 N 29th St Louisville, KY	3.0	1.0	1031	$1,300	$1.26	4d	1	0.76mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	17d	1	0.76mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.77mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	4d	4	0.78mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	25d	1	0.81mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	17d	1	0.84mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	25d	1	0.84mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	17d	1	0.85mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	25d	1	0.85mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	25d	1	0.87mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	25d	1	0.89mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	25d	1	0.91mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	25d	1	0.95mi

Listing history 17 events

1. 2026-06-21
   days on market $55,000 Active 66 DOM
2. 2026-06-18
   days on market $55,000 Active 63 DOM
3. 2026-06-17
   days on market $55,000 Active 62 DOM
4. 2026-06-16
   days on market $55,000 Active 61 DOM
5. 2026-06-15
   days on market $55,000 Active 60 DOM
6. 2026-06-13
   days on market $55,000 Active 58 DOM
7. 2026-06-10
   days on market $55,000 Active 55 DOM
8. 2026-06-09
   days on market $55,000 Active 54 DOM
9. 2026-06-08
   days on market $55,000 Active 53 DOM
10. 2026-06-07
    days on market $55,000 Active 52 DOM
11. 2026-06-03
    days on market $55,000 Active 48 DOM
12. 2026-06-02
    days on market $55,000 Active 47 DOM
13. 2026-06-01
    days on market $55,000 Active 46 DOM
14. 2026-05-31
    days on market $55,000 Active 45 DOM
15. 2026-04-13
    listed $55,000 Active
16. 2013-01-10
    soldstatus $17,000 261-char remark

    Show marketing remark (261 chars)

    Newer construction with 3-bedrooms and one full-bathroom. Large, vaulted great room, open kitchen and layout. Great opportunity for investors--recently rented for $600/month. This will be a short sale transaction and requires third-party approval on all offers.

17. 2012-08-06
    listed $25,000 261-char remark

    Show marketing remark (261 chars)

    Newer construction with 3-bedrooms and one full-bathroom. Large, vaulted great room, open kitchen and layout. Great opportunity for investors--recently rented for $600/month. This will be a short sale transaction and requires third-party approval on all offers.

ⓘ 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: $798 · $67/mo
• Projected year-2 tax: $798 · $67/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 4/10 Moderate FEMA zone X (shaded) · 20% 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: $13,757
• − Mortgage interest: −$3,081
• − Property taxes: −$798
• − Insurance: −$275
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$1,600
• Taxable income: $5,802
• Est. tax owed @ 24.0%: −$1,392
• After-tax cash flow: $4,941/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

+120.0% since first listed

3 events — show timeline

• 2026-04-13 Listed $55,000 Metro Search MLS
• 2013-01-10 Sold (MLS) $17,000 Metro Search MLS
• 2012-08-06 Listed $25,000 Metro Search MLS

Property tax history

+12.2%/yr

Latest (2025): $798 · -1.9% YoY. Source: county tax records.